Today, consumers expect to find, engage with and buy products from an array of touchpoints that range from the traditional in-store and webshops to social media and augmented/virtual reality (AR/VR).
More than managing touchpoints and device responsiveness, omnichannel commerce is about making those shoppable experiences seamless, no matter the touchpoint at which the consumer starts or finishes the buying journey. According to Harvard Business Review, omnichannel strategies increase AOV (average order value) by 10% and lifetime value (LTV) by 30% compared to single-channel commerce.
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This is how businesses can orchestrate their omnichannel strategies more effectively with composable commerce:
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Flexibility and agility: By decoupling the frontends (the customer-facing touchpoints) from the commerce backend, businesses can easily add, manage and even drop touchpoints.
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A single commerce backend: Have one commerce system as the single source of truth for your data (customer, product, inventory and more) to collect, view and analyze data from multiple sources, such as purchase history and inventory, in one place.
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Real-time data exchange: Using API-driven integration to connect different applications enables real-time and consistent data exchange and channel orchestration.
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Flexible data modeling: Structure data in a way that accommodates unique requirements for your business.
For instance, Mars, best known for M&M’S, Skittles and Snickers, implemented composable commerce to provide a personalized experience with a “My M&M’S” online store for customers to create custom bags of candy, as well as marrying the physical and digital worlds with BOPIS (buy online, pick up in-store).
American retailer Ulta Beauty has also created shopping experiences that mirror in-store with digital thanks to composable commerce. The company provides virtual beauty advisor services like GLAMLab for consumers to try on beauty products via the web or app and get personalized recommendations without having to step into a store.
The Canadian luxury menswear retailer Harry Rosen translated its in-store personalized consultation to a digital laydown experience. Their clothing advisors pull together various fashion pieces to create a wholly curated look for individual customers, with the client’s correct size and in-stock items. The recommendations are shared as a digital webpage, giving clients more confidence to buy complete looks fitting their style with an easy option to add their desired items to the shopping cart. This omnichannel approach resulted in 300% growth in orders, a 1.8% increase in basket value and a 3x lower return rate.
Source: https://t-tees.com
Category: WHY
