We are committed to supporting your business during this period. Discover resources and tips to help your business face the COVID-19 ⟶
Orckestra
Orckestra

The coronavirus pandemic is causing unprecedented changes for retailers including surge in online sales and significant disruptions in warehouse and store operations. A research by Digital Commerce 360 Retail reveals that 57% of consumers have adapted their everyday life activities to be as “contactless” as possible while 31% reported to have made more online purchases. In addition to these short-term consequences, the COVID-19 will likely have an impact on ecommerce in the long-run. Some shoppers may continue to rely on digital channels to make their purchases after trying it and enjoying the additional convenience.

By thinking outside the box and utilizing omnichannel order management, you can make your revenue go up. Businesses with a weak omnichannel strategy retain only 33 percent of customers. Compare that to 89 percent of customers for brands that use solid omnichannel engagement strategies. 

Your customers want omnichannel options, and as a retailer, it’s your job to provide your customers with what they want. Use these three omnichannel order management and fulfillment tactics to retain more customers and help boost your store sales. 

Increase store revenue with online orders

Making sales from your brick-and-mortar store is great, but to truly meet the needs of today’s consumers and boost your revenue, you need to be online. Remember, customers want omnichannel alternatives—and they want to shop online. By 2023, the U.S. is expected to have 300 million online shoppers. And other countries aren’t far behind: the average e-commerce revenue per customer in Germany, for example, is USD 1,064.

Offering online sales creates a whole new stream of revenue for your store as online revenues are assigned to the brick-and-mortar store that fulfills them. That way, your store can earn money even when its doors are closed for a holiday or other event. Optimize your website with SEO keywords so customers can find you more easily online.

By using online sales, you can also reduce the cost of discounting merchandise that didn’t sell in-store. Simply put the products up for sale online and then collect the revenue that comes in.

Increase store revenue with online sales

Leverage BOPIS to upsell and cross-sell

Buy online, pick up in-store (BOPIS) or curbside pick up is a must-have option among consumers. This is something big corporations have realized and are taking advantage of. At Lowe’s, for instance, 60 percent of online orders are collected in-store. Customers appreciate saving money on shipping fees and getting products as soon as possible. 

In addition to making the initial sale, BOPIS allows you to upsell and cross-sell to your customers. In an article by Supply Chain Dive, Jonathan Cherki, CEO of Contentsquare, explains that shoppers who buy online and pick up in-store tend to spend more money, making these customers an extremely valuable segment for retailers. Data shows that in-store pickup customers convert six times more than other shoppers. They also tend to have a higher order value, spending an average of 6 percent more than customers who use the traditional shipping route.

BOPIS also drives additional traffic to your stores. When customers who normally shop online choose to pick up in-store, that’s another person walking through your doors who may never have visited otherwise. And if you utilize smart product placement and sales tactics, there’s a chance they’ll purchase something in addition to what they bought online.  

Move dormant store inventory and reduce the need for discounts

Dormant store inventory can hurt retailers in a big way. When products aren’t moving, you’re losing money: you’re not selling those products, and they’re also taking away the opportunity to sell other merchandise on that shelf space. Storage costs can build up, too. In short, retailers need to focus on moving dormant store inventory as quickly and efficiently as possible.

By using your entire network of inventory, you can broaden the selection of products you’re able to offer online. This gives your customers more product choices, meaning they’ll be more likely to find what they’re looking for. Omnichannel order fulfillment can move products that have been taking up valuable space for too long. 

The most common way to get rid of dormant inventory is to cut the price. But this is not a sustainable tactic. When you give your customers discounts, your sales may go up, but your overall profit margin goes down. In the long run, that’s a significant disadvantage to your company.

So how can you move dormant merchandise without resorting to deep discounts? If you’re selling online, try optimizing your SEO and product descriptions. For brick-and-mortar stores, experiment with product placement—the physical location of merchandise in the store. Leveraging your entire story inventory can help sell that slow merchandise. This will reduce the need to sell at deep discounts and save you money. 


eBook | How to Successfully Implement Your Omnichannel Fulfillment Strategy

The bottom line is that you need to make your store inventory more accessible so your customers will make more purchases. You can do this by using an order management system (OMS) that fills orders as efficiently as possible. Orckestra’s mobile store fulfillment solution can help you meet your customers’ needs and earn more revenue. Contact us to learn more and get started today.