Today's shoppers expect a seamless experience beyond physical and digital boundaries. This is where unified commerce, also known as converged commerce, steps in. It's a strategic approach that integrates all retail channels – online stores, mobile apps, and brick-and-mortar locations – into a single, unified system.
Put simply, converged commerce ensures that customers enjoy consistent interactions across all touchpoints, whether they're browsing online, purchasing in-store, or using mobile apps. This cohesive approach enables retailers to provide personalised experiences and real-time inventory updates, enhancing customer satisfaction and streamlining operations.
By breaking down silos and creating a holistic shopping experience, unified commerce unlocks a wealth of benefits for both retailers and customers, particularly in the realm of in-store experiences. Let's dive deeper and explore why.
Understanding the Customer Journey
The traditional in-store experience often presents pain points that can deter customer satisfaction. Imagine a scenario where a customer walks into a store only to discover the desired item is out of stock. The frustration of wasted time and a disrupted shopping experience is a real concern. Additionally, limited access to product information or a lack of personalised recommendations can leave customers feeling lost and disengaged.
5 Key Benefits of Unified Commerce for In-Store Experiences
1. A seamless customer journey.
Customers can browse online, research products, and even reserve items for in-store pickup, all within the same platform. This eliminates friction and fosters a smooth transition between channels.
2. Enhanced personalisation.
Unified commerce empowers retailers to leverage customer data across channels. This allows for personalised recommendations, targeted promotions, and a more engaging in-store experience.
3. Improved Inventory Management.
Real-time inventory visibility ensures products are readily available in-store, eliminating stockouts and customer disappointment.
4. Omnichannel Loyalty Programs.
Customers can earn and redeem rewards seamlessly across all channels, strengthening brand loyalty.
5. Flexible Payment Options.
Unified commerce platforms enable a wider range of payment options, from contactless payments to digital wallets, streamlining the checkout process.
Successful Unified Commerce Implementations
Many leading retailers have embraced unified commerce to transform the in-store experience. Here are a few inspiring examples:
- John Lewis. This British department store chain implemented a unified commerce platform, resulting in a 23% increase in online sales with click-and-collect options and a significant improvement in average order value.
- Sephora. The beauty giant offers seamless omnichannel experiences. Customers can use the Sephora app in-store to access product information tutorials and even book makeup consultations. This personalised approach enhanced customer engagement and loyalty.
- PG plc is a reputable investment company that is interested in a number of successful ventures in the Maltese Islands that cater directly to the local economy. Some of the biggest challenges PG faced when it came to payment processing included ensuring the best possible client experience for customers both in-store and online. Trust Payments worked with PG to help resolve their payment challenges by providing a full suite of point-of-sale terminals, online payment solutions and acquiring services, which resulted in notable improvements in client satisfaction, processing times, fees, and the range of payments being offered.
The Future of In-Store Experiences
Converged commerce is set to become even more innovative with emerging technologies like augmented reality (AR) and artificial intelligence (AI):
- AR will offer immersive experiences, allowing customers to try products and visualise them in their homes virtually.
- AI will enable highly personalised recommendations and promotions, creating a more engaging shopping experience. AI-driven inventory management and robotic assistants will streamline operations and enhance customer service.
Moreover, advanced data analytics will continue to be crucial for optimising in-store experiences. By analysing customer data, such as shopping behaviour, purchase history, and demographic trends retailers can gain insights into preferences and behaviour. This allows them to optimise product selection, store layout, and marketing campaigns, and measure the effectiveness of in-store initiatives, ultimately enhancing customer satisfaction and sales.
Key Takeaways for using converged commerce for in-store business success
In conclusion, unified commerce transforms the retail landscape by seamlessly integrating online and in-store experiences, delivering numerous benefits for retailers and customers.
By breaking down the barriers between different sales channels, unified commerce creates a more cohesive and engaging shopping journey, from personalised recommendations and improved inventory management to flexible payment options and omnichannel loyalty programs.
As emerging technologies like augmented reality and artificial intelligence evolve, the potential for even more innovative and tailored in-store experiences will only grow. For retailers, adopting a unified commerce strategy is necessary to meet the evolving expectations of today's consumers and stay competitive in a dynamic market.
Are you ready to transform your retail business? Discover how unified commerce can:
- Enhance customer satisfaction with personalised experiences
- Streamline operations for increased efficiency
- Foster customer loyalty through seamless omnichannel engagement
Visit Trust Payments today to learn more about successful retail practices and converged commerce.
