In a recent survey, Deposco and studioID asked more than 150 retail leaders from online/e-commerce, specialty, department, and grocery stores about their omnichannel efforts. This survey asked respondents about their omnichannel readiness, their current investments, and which technologies can improve omnichannel fulfillment.
While omnichannel fulfillment may not be for every retailer, the survey results reveal that it’s a priority now — and will continue to demand retailers’ attention down the road.
Five important survey findings about omnichannel fulfillment:
- Most retailers indicate that omnichannel fulfillment is important to their organizations. Nearly 60 percent say it’s either “very” or “extremely” important. Only 13 percent say that omnichannel fulfillment isn’t important to their organizations.
- Retailers are likely confused about what’s possible with omnichannel. For example, when asked about the status of their omnichannel fulfillment, 25 percent of respondents indicated complete satisfaction. This number suggests retailers may not fully understand what’s possible with omnichannel, or they may lack the tools to visualize it.
- Retailers that prioritize omnichannel fulfillment are experiencing several benefits — but one stands out. Among the survey respondents currently investing in omnichannel fulfillment, 59 percent are achieving greater customer reach. Because their products are available and easy to purchase through whatever channel(s) their customers use, they naturally reach a wider group than retailers that offer products across only one or two platforms.
- The top obstacles to deploying omnichannel fulfillment solutions. Over one-third (35 percent) of respondents named lack of time and resources as their biggest deployment challenge. Nearly one-quarter (23 percent) of respondents cited a lack of in-house tech expertise as a barrier to adoption. Meanwhile, 21 percent get by with manual processes and say there isn’t a pressing need for fulfillment solutions yet.
- Retailers know where they want to improve. Most retailers admit that they have room for omnichannel enhancements. Respondents identified three main areas they need to improve: 37 percent want to personalize the online experience better, 21 percent want to bring a more human element to the online experience, and 29 percent want to improve the in-store experience with technology.
“Retailers that don’t see the value of omnichannel now will eventually experience growing pains as the evolution picks up speed,” explains Will Lovatt, general manager and vice president at Deposco. “When their customers pull them toward it, they’ll have to respond.” But it’s never too late to start prioritizing omnichannel fulfillment, he continued. “If you’ve got a brand that a customer wants to buy,” says Lovatt, “then they’ll buy it where and how they want to buy it, and you better be present and ready to sell it.”
Download the full research report to explore additional insights from the survey results.
The survey, conducted by Deposco and studioID, was taken by 150+ retail executives in the United States in December 2022. Respondents answered questions about their omnichannel readiness, the impact of omnichannel on their business, obstacles that stand in their way, and the most important enhancements to facilitate better omnichannel experiences.
Deposco’s Bright Suite of omnichannel fulfillment supply chain applications is how fast-growing companies rapidly scale their warehouse management and order management operations. So they can see what inventory they’ve got, where it is, and where to position it to fulfill demand when It’s Grow Time™. It’s the only solution that provides this much actionable insight into both your supply chain and the broader marketplace. Streamlined into One Solution, One Focus, One Team. That’s why over 3,000 of the world’s fastest-growing ecommerce and DTC businesses rely on Deposco. We’re supporting over $10 billion in sales and over 51 million consumer orders annually. In 2021, we saw total shipment growth increase by 78%. Deposco. #ItsGrowTime™. Visit www.deposco.com to learn more.
About studioID by Industry Dive
studioID is Industry Dive’s global content studio, offering brands an ROI-rich toolkit: deep industry expertise, first-party audience insights, an editorial approach to brand storytelling, and targeted distribution capabilities. Its trusted in-house content marketers help brands power insights-fueled content programs that nurture prospects and customers from discovery through to purchase, connecting brand to demand. Visit www.studioid.com to learn more.