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July 2023 - Retail

Retailers cite high costs as the top barrier for omnichannel implementation: A global survey has revealed that the leading barrier to omnichannel implementation by retailers is high costs (39%), followed by 'lack of skills or expertise' and a 'lack of resources' (36%).

These were among the findings of the State of Omnichannel Retail Research survey from Bazaarvoice -- a global study of 6,000 consumers and 400 retail executives.

The survey also revealed the top priorities of global retailer respondents when it comes to omnichannel implementation, with almost half saying 'feedback from customers' was a priority when designing a good omnichannel experience, followed by 'brand consistency across channels' (44%) and 'personalised shopping' (42%).

When asked about the type of shopping experience they prefer, almost two-thirds of respondents (66%) said they prefer a hybrid online and in-store shopping experience, with German shoppers the most enthusiastic about hybrid shopping, and U.S. participants displaying the lowest desire for it.

The survey found that most of the retailer respondents from the U.S., Australia and Canada said they offer a successful omnichannel experience, however, retailers in the U.K. and France admitted they have not yet mastered the right balance.

The report advises that to be successful, brands need to fully understand the ROBO (research online, buy offline) economy.

It found that two-fifths of global shoppers (41%) researched their products online but purchased in store, while 63% use their smartphones to research whilst they are in store to learn more about the product and check for competitive pricing. It also found that three-quarters of respondents who buy online, research a product before purchasing, and 76% of online shoppers buy from retailers, rather than directly from  brands.

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