Literature Review: Omni Channel Retailing in Digital Business

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Literature Review
AI Summary
This literature review examines the concept of Omni Channel Retailing, a business model integrating various channels to provide a seamless shopping experience. The review synthesizes research articles to explore the benefits, such as convenience and enriched customer experiences, and challenges, including the need for data management and understanding customer behavior across channels. It highlights the evolution from multichannel to omnichannel, emphasizing the importance of adapting strategies to meet customer expectations and foster brand loyalty. The review also discusses the impact of digital transformation on retail, the role of omni-channel in luxury industries, and the emergence of showrooming and web-rooming. Retailers must focus on integrating digital and physical worlds for a compelling customer experience. This student assignment, available on Desklib, provides a comprehensive overview of the current research and trends in Omni Channel Retailing.
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Running head: OMNI CHANNEL RETAILING
OMNI CHANNEL RETAILING
Name of the Student
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Author Note
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OMNI CHANNEL RETAILING
Abstract
Omni channel retailing is actually a model of business within which all of the various
channels which are existing will be becoming entirely integrated for offering all of the
various customers a great and seamless experience in shopping. Omni channel retail is known
to be optimising several channels of sales while at the similar time will be bringing in greater
level of integration among all of them. This particular strategy of omnichannel retail is
known to be greatly empowered by the management of data which is centralised which will
be actually meaning that all of the various distinctions among the channels which are both
physical as well as online are completely blurred. It has been known that there are various
advantages as well as disadvantages of omnichannel retailing. The entire study will be
describing all of the various benefits as well as disadvantages which have been associated
with the omnichannel retailing.
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OMNI CHANNEL RETAILING
Literature Review
In the current days, the ability of simultaneously using various consumer store
channels of interaction greatly constitutes the highly dominant characteristic of the retailing
phenomenon of omnichannel which will be building on the greatly established retail
infrastructure of multichannel (Lazaris & Vrechopoulos, 2014). This has been actually
developed since the specific exploration of the World Wide Web which is commercial. Omni
is actually a Latin word which means “all” or rather “universal”. It has been suggested that
the shopper of an omnichannel is actually a particular evolution of the consumer of
multichannel, who utilises all of the channels simultaneously instead of utilising all them in
parallel. Omnichannel retailing is actually considered to be the integrated experience of sales
which will be melding several benefits of all the various stores which are physical with a
huge experience of shopping online that will be rich in information. Actually, omniretailing is
basically a multichannel which is coordinated that greatly offers an experience which is
seamless whenever utilising all of the various shopping channels of the retailers.
Omnichannel mainly refers to the utilisation of channels which are online as well as physical
particularly combined with a specific delivery of various experiences in shopping which are
seamless. Switching of channel, decision making of consumer and also the loyalty of brand
are some of the subjects of huge importance within all the various environments of
omnichannel. A specific strategy of omnichannel must be adapted by various brands for
properly coping with the preference of the customers and also loyalty.
Customers are considered to be highly essential stakeholder of any particular
organization. For properly serving all of the various customers in some best ways which are
possible, it is really very much important to know all of them. Utilising CRM, several
enterprises can easily identify which of the products a specific customer has bought earlier.
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OMNI CHANNEL RETAILING
Currently, it has been known that greater analysis can be very easily performed via the
internet. With some completely new interaction channels, like social media, several
consumers have been expecting their engagements to be totally consistent with the enterprise
across all the various channels which are available (Saxena, 2017). Like for an instance, they
mostly expect to directly place their orders whenever and wherever it will be mostly
convenient for all of them and then for receiving all of their products via the channel of their
specific choosing. If all of the various enterprises do not at all enable such kind of approach
of omni-channel, they will be hugely risking a loss of various customers as well as
incrementing dissatisfaction of the customers. Hence, it can be said that the communication
as well as service via omni-channel is a key. It can be said that the strategy of omni-channel
is one of the solutions which have been newly emerged for directly meeting the incremented
expectation of the consumers, responding to all the modified patterns which are behavioural
and also for attaining the needed level of the digital engagement of the customers within all
of the various retail businesses. Opportunities of the business of omni-channel will be
enabling various enterprises to perfectly form a particular eco-system of the online platforms
which will be enabling all of them to properly implement greatly efficient communications
with some completely new consumer generation. The strategy of omni-channel retailing is
known for offering various advantages to all of the consumers like convenience, format as
well as level of the information regarding product and the huge richness of the experience of
purchasing (Syaglova & Mojsovska Salamovska, 2019). Retail is observed to be actively
utilising some of the mostly different elements of transformation which is digital, creating
various spaces of omni-channel and also enabling all of its various customers to properly
make sopping within the online space much more comfortable.
Gradually blending both the physical as well as digital world of selling into one
compelling experience of customer which will be seamless is found to be remaining a huge
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OMNI CHANNEL RETAILING
challenge for the retailers or the manufacturers. This particular challenge can be very much
easily solved by all of the various retailers who have been operating the channel of omni-
distribution. There is a huge need for retailer to properly understand the behaviour of the
customer as it alters a lot within each of the channel and even across the channel which needs
integrating data of customer. Retailers must be staying greatly focused upon the entire
experience of the customers across all the environment of selling by firstly designing the
experience of the brand across all of the channel, properly determining the great role of
digital within the entire experience and particularly aligning the enterprise to that of the
brand. The channel of omni-distribution is found to be already in practice and several
enterprises which have been practicing it are reaping a huge opportunity of the customers
(Tetteh & Xu, 2014). Channel of omni-distribution is actually all about greatly building a
relationship with various customers. However, it has been known that there are various
drawbacks as well. Because of omni-channel, retailers have been hugely facing with the fuzz
of properly understanding the mission as well as the placement of the channel of omni-
distribution within the organization. Omni-channel has even leapfrogged the channel of
cross-distribution which must not at all be so. It can be said that the channel of omni
distribution is still now in the stages of infant and its evangelizations really requires to be
hugely intensified.
It has been known that the specific appearance of the omni-channel has been much
more than a huge challenge for the particular sector of luxury, given the huge need for
offering a completely integrated experience via various channels. Omni-channel is even very
much essential within the luxury industry as well. Strategies of omni-channel are found to be
bringing in huge success to most of the luxury enterprises. Omni-channel has hugely raised
two essential as well as opposite which will be involving showrooming where various
shopkeepers obtains information and can even view the products before burying online and
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OMNI CHANNEL RETAILING
the web-rooming where various shoppers search for the information on the internet within all
of the various websites of brand before buying offline (Tetteh & Xu, 2014). It has been
suggested that the retailers who are found to be developing a strategy of omni-channel and
also sync the information across various channels, greatly experiences an enhancement in the
satisfaction of the customers by about 58% and there is even an increment in the size of
purchase online by about 42%.
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OMNI CHANNEL RETAILING
References
Almeida, M. (2016). Omni-channel retail strategies in the luxury world (Doctoral
dissertation).
Lazaris, C., & Vrechopoulos, A. (2014, June). From multi-channel to “omnichannel”
retailing: review of the literature and calls for research. In 2nd International
Conference on Contemporary Marketing Issues,(ICCMI) (Vol. 6).
Saxena, T. (2017) SOCIAL MEDIA PLATFORM CREATING FRAMEWORK OF
BUSINESS TRANSFORMATION. ABS International Journal of Management, 100.
Syaglova, Y., & Mojsovska Salamovska, S. (2019, November). DIGITAL
TRANSFORMATION IN MARKETING AND BUSINESS-IMPLICATIONS ON
RETAIL TECHNOLOGIES AND CUSTOMER ENGAGEMENT. In DIEM:
Dubrovnik International Economic Meeting (Vol. 4, No. 1, pp. 215-225). Sveučilište
u Dubrovniku.
Tetteh, A., & Xu, Q. (2014). Supply chain distribution networks: Single-, dual-&
omnichannel. Interdisciplinary Journal of Research in Business, 3(9), 63-73.
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