Modern retail technology continues to shape how we chose to purchase everything from the basic necessities to the finer luxuries. Seldom do we make purchase decisions without any prior knowledge obtained either through comparing products online, reading reviews, or getting feedback from people we trust. The internet and mobile devices have empowered consumers to make better informed decisions than ever before. Greater consumer access to information puts a lot of pressure on retailers not only to offer competitive pricing, improve quality, and deliver outstanding customer support, but also to ensure their presence at every possible touch point of the customer journey, whether it’s online or in-store.

The throughline which connects all the dots in a way that provides a seamless and unified experience to customers is the omnichannel retailing strategy. You have undoubtedly heard the term omnichannel being tossed around here and there quite often, but exactly what does it mean as far as retail is concerned? To put into perspective, let’s use this example of a situation with a customer named Andy.

Andy is an avid mountain biker who likes to update his gear before each tour. He is currently looking for a new safety helmet and browsing through the available options on his favourite retailer’s website. When he finally chooses the helmet he likes, he decides to shop it in store just to be sure about the size and quality of the product. He goes all the way to the store, heads straight to the safety helmet section where, to his dismay, the sales associate tells him that the particular safety helmet is out of stock.

In traditional retailing, this disappointing outcome for Andy could mark the end of his relationship with the sportswear retailer. And when you consider the investment in time and effort involved in creating that lasting relationship with Andy—it becomes an even greater loss for the retailer.

Now imagine that the sales associate, despite being out of stock of the specific bike helmet in their store, pulls out a tablet or smartphone and checks to find it at other store locations or perhaps the vendor. The sales associate could thus save the sale and offer Andy options to have the product shipped to his address or collect from the next available store. This modern retail technology known as Endless Aisle offers retailers the ability to offer customers products beyond available inventory, enhance the shopping experience, retain customer loyalty, and increase profitability.

Endless Aisle is an extension of the omnichannel retail ecosystem. Our example is just one of the many possible scenarios which also include Buy Online, Pick up in Store or Buy Online, Return in Store, etc. Omnichannel retailing essentially opens up sales winning sales possibilities for manufacturers, vendors, retailers, and consumers.

In addition, omnichannel unlocks multiple touchpoints and also synchronizes them in one great shopping experience. And with omnichannel fulfilment, retailers can easily process orders and manage inventory from multiple locations, all at a glance.

Another great advantage of Omnichannel is its integration with leading e-commerce platforms. ACCEO Retail-1 offers seamless integration with your Shopify or Mangento e-commerce store and allows your customers to shop however they want. Online orders can be processed for direct-to-home shipping or in-store pickup.

To learn more about how omnichannel can have a positive impact on your bottom line and save valuable time by reducing manual repetitive tasks, book a free personalized demo with our experts today. Call +1 888-474-2001 or write to us at [email protected].

In times when customer expectations grow exponentially and unanticipated disruptions are transforming the retail landscape, retailers are still faced with delivering an exceptional customer experience if they want to remain successful.

The drop shipping model is one of the latest fulfillment alternatives that can help retailers provide their customers with the level and variety of products that keeps customers returning, without having to keep higher inventory.

What is drop shipping

In the drop shipping fulfillment process, merchants do not keep the products they sell in stock. That sounds counterintuitive, but here’s essentially how it works—buy online and the vendor fulfills and ships directly to the customer.

When a merchant sells using drop shipping, they are actually purchasing goods from a third-party vendor who then ships directly to the consumer who bought from the merchant. So, the merchant never handles the product directly.

Compared to the traditional retail model, the drop-shipping model does not require the merchant to stock or own inventory, but rather to purchase inventory as needed from a third party—usually a wholesaler or manufacturer—to fulfill orders.

Expanded product offer

Selling online, merchants can leverage the full range of vendor products, which are not currently offered in their retail chain. Endless aisle orders (products sold that are not available in-store) can extend to the product offer available through drop shipping vendors. This means that your POS system will have access to third-party vendor inventory.

Increasing the reach of Endless Aisle with dropship merchandise will provide your customers with another option to successfully fulfill their orders and effectively encourage them to return to your store for their next purchase.

Drive up sales

Partnering with wholesalers and manufacturers does more than improve your product selection through an extended range—it can also increase your sales reach. Drop shipping through vendors who are strategically located in different areas means that you can expand your current base and reach more customers. A broader product offer and client base give you added potential to drive up your sales.

Transfer risk

By tapping into inventory further up the supply chain, merchants can gain access to virtually unlimited inventory without the carrying risks and inventory management. Your business can eliminate managing stock clearances to offset losses and out-of-stock situations.

Focus on core business

Drop shipping can effectively diversify your product line without increasing your stock levels or incurring the cost of purchasing stock up front. In addition, because third parties are responsible for all the shipping logistics you have more bandwidth to focus on your customer and your core business activities.

Overhead cost savings

Because your business will be able to carry a leaner inventory, there will be less of it for you to store. So, this presents an opportunity to cut overhead costs for the space that you may currently be using for inventory storage in your warehouse or back store.

It follows that any savings in your overhead costs will reflect positively on your cashflow. By freeing up the financial resources typically spent on warehoused inventory, you have more options to invest in business-critical areas. Drop shipping helps to keep your money on hand for your core business operations and to grow the business.

Exceptional customer experience

Several key contributing factors of drop shipping can impact the exceptional customer experience that merchants strive to create and sustain. The combined effects of a more diverse and demand-driven supply chain, improved responsiveness to customer demand and fewer stock disruptions will likely produce positive impacts on the customer experience. With a wider variety of products, fewer disappointments caused by out of stock merchandise, and a seamless transition, odds are excellent that your exceptional experience will increase the lifetime value of your customers.

A retailers guide for re-opening

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There is no doubt that the retail industry is undergoing an unprecedented transformation ignited by the global COVID-19 pandemic.  Many retailers have been abruptly forced to shut down operations for an undetermined amount of time, and the likely hood of returning to normal is next to none.

Retail as we know it has been forever altered and what may be a “new norm” is emerging with it. As society struggles and adjusts to a new way of living, we must look for ways to innovate and adapt to emerging new habits and changes in customer behavior.

What can retailers do now to prepare for the re-opening of their brick and mortar locations?

To help retailers better prepare for re-opening, ACCEO Retail-1 has identified and compiled key areas of consideration to ensure retail success through 2020 and beyond.

1. Promoting and Adopting Healthy Habits – Ensuring a safe work environment for employees and customers
2. In–store Procedures & Modifications
3. Technology and Operations