All the conversation around omnichannel selling has obscured a tough reality about the way retailers build those retail strategies. Omnichannel consists of multiple channels allowing the consumer experience to choose its own adventure.
But too many retailers make a common mistake: While they invest into solutions that have the look of omnichannel, there’s still too much separation between platforms and channels. The result is something that looks like everything promised by omnichannel, but that has its experience shortchanged by silos, separation, and clunky integration.
As a result, attentions are now turning toward unified commerce, which realizes the dream that omnichannel inspired. Unified commerce is run through a single real-time platform that centralizes all customer activity and channels. This unified approach is driving better experiences that offer real-time customization for consumers, helping both shoppers and sellers capitalize on short windows of opportunity.
Mobile payment technology is helping to drive this adoption, and the resulting transformation.
Taking The Friction Out Of Shopping
Unified commerce enables greater personalization and better customer experiences, in part because it takes advantage of new data acquisition channels while also eliminating friction from the customer path-to-purchase. This friction is most evident in stores, where long checkout lines create impatient, unhappy customers.
Consumers are warming to mobile payment options, and they are starting to recognize the benefits that come with such payment systems. Mobile payment makes it easy for store associates to meet the customer where they are, both physically and figuratively. According to PaymentsSource, brands are starting to understand how this liberated approach to handling payment can even improve conversion rates by helping the retailer capitalize on real-time moments.
If a customer wants to buy a big-screen TV, why go through the hassle of giving them a slip of paper, or boxing up the TV, and having them carry it up to the register? Brands are better off processing the transaction right then and there, before the shopper has time to second-guess himself.
Meanwhile, this mobile payment strategy makes it easier to gather and leverage consumer data, including data from their online shopping account. And if the items they want aren’t available in-store? The retailer’s mobile platform can be used to place an online order. This ability to move seamlessly between online and in-store platforms is the defining trait of unified commerce.