They’re on the backs of baseball cards. They help us determine fact from opinion and myth from reality. Whether it’s the EPA regulated fuel efficiency rating of a new car or settling an argument between who’s the better quarterback, Peyton Manning or Tom Brady, statistics carry a lot of weight. While numbers personify trends, they can also be used to steer conversations and prove points. One thing that you can’t be steered away from is the growing prevalence of omni-channel retail distribution. Just as statistical knowledge can help prove your point in those Sunday afternoon gridiron debates, statistics can help you understand and navigate the new challenges of retail logistics. Here are 5 facts and stats about omni-channel and its impact on retail.
1.) Customer satisfaction metrics improved for 88% of retailers that implemented a “ship-from-store” process.
2.) 50% of consumers prefer and expect to have the option to order online and pickup in the store of their choice.
3.) 10% of consumers consider in-store pickup more convenient than having items shipped directly to their home.
4.) Only 33% of retailers have the basic omni-channel tools in place, such as cross-channel inventory visibility and store based fulfillment.
5.) 25% of consumers that order online and select the “store pickup” option do so to avoid waiting on shipping.
*These statistics are based on a survey done by Forrester Research, “Consumer Desires vs. Retailer Capabilities: Minding the Omni-Channel Commerce Gap”
While this is only a small sample of the new consumer demands facing all retail outlets, it is clear that consumers want different options, and they want them for different reasons! Inventory visibility, product tracking and e-commerce platforms are now more necessary than ever before. Barrett Distribution, with e-commerce experience and visibility technology, implements supply chain and logistic solutions for retailers. For more information, click here.