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SHAPING BRAND DESTINY

The evolution of omnichannel retail

Omnichannel retailing is the successful integration of the various sales channels so that the customer experiences a smooth seamless interplay between the offline and online worlds.

 

Recent studies have shown that customers who use more than one channel spend more and have a higher lifetime value than those customers who use fewer channels. The study, by McKinsey Research and Harvard Business Review, spoke to 46,000 customers over a fourteen-month period about every aspect of their shopping journey. It found omnichannel retail customers spent an average of 4% more on every shopping occasion in-store, and 10% more online than single-channel customers.

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