Financial constraints prevent retailers from embracing omni channel

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Budget restrictions are behind the current lack of an omni-channel strategy among retailers, a new study has found.

Enterprise e-commerce solution Mozu polled 300 CEOs and IT leaders from B2B and B2C retailers to discover that 34% have “insufficient financial resources” to implement a new retail technology.

After interrogating the data further, Mozu reported that both high-revenue organisations and smaller-revenue retailers rated problems with securing the necessary investment in a similarly high position.

Leaders vs laggards

Mozu went on to prove just how key a healthy war chest can be to omni-channel integration by comparing leaders in the space with retailers at the opposite end of the spectrum.

While omni-channel laggards rate financial resources as the top resource barrier, the same issue does not even make the top three for omni-channel leaders. Instead, limited access to third-party developers, implementing back-end technology and a lack of education and training of employees all rank higher.

To give you an idea of how few retailers actually have an omni-channel strategy up and running, only 31% of respondents revealed that they consider themselves to be “omni-channel integrated”. The majority are still struggling to implement technologies.

Customer experience

The most important omni-channel capabilities to retailers are a seamless customer experience across channels followed by a mobile application offering and support for inventory and catalogue management across channels.

Unsurprisingly, mobile is still a priority for retailers as 29.5% of those polled revealed mobile payments is the top technology they plan to implement in the next 12 months, which was in front of the 16.4% who opted for a dedicated mobile app.

Find out how you can create an omni-channel experience in Marketing Tech's latest free-to-download whitepaper.

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