Deliver an Exceptional Home Furnishings Retail Experience
Industry experts from National Retail Federation, Boston Retail Partners, Forbes and more are in agreement. Retail is entering a new era.
In the home furnishings industry, in particular, it was once hard to imagine a marketplace where revenue was so greatly influenced and even largely generated through eCommerce and mobile. That day is here. Not only should retailers envision this, but it is critical to their future success to strategize for these channels today.
For many retailers operating in traditional environments, this dynamic market brings about uncertainties on how to prepare retail businesses to capitalize on changing consumer purchasing behavior.
For the last year, STORIS developers have been hard at work to create a Unified Commerce solution to help home furnishings retailers capture today’s shoppers and maximize their revenue potential.
Unified Commerce is the strategy of the future. Let’s visit why it’s important for a retailer’s business.
So, what exactly is Unified Commerce?
“Unified Commerce puts the customer experience first, breaks down the walls between internal channel silos and leverages a single commerce platform. A single, centralized, real-time platform for all customer engagement points is fundamental to Unified Commerce.” Boston Retail Partners
Every interaction your customer has with your brand through their personal use of technology or through the technology they engage with in your showrooms must be seamlessly integrated, provide a pleasant experience, and convey your brand message.
Technology is the Foundation of Unified Commerce
One of the questions you may be asking yourself is what is the difference between Unified Commerce and Omni-Channel retailing? Historically speaking, as different channels of retailing became widely utilized, many retailers began to build out their strategies for these channels using disparate technologies. With an omni-channel approach, it’s common for a retailer’s systems for their instore and online presence to be separate. Today, in order to maximize efficiency and increase information transparency, Unified Commerce calls for one “unified” technology platform.
And It Is All About the Consumer
Unified Commerce is designed to best serve today’s consumer, who is shopping their favorite brands across multiple touchpoints. Unified Commerce is about creating a seamless experience, so that no matter where and when they shop your brand, they can always pick up where they left off without missing a beat.
In home furnishings specifically, it’s estimated that around 90% of purchasing journeys are beginning with an online search, yet the vast majority of purchases are still happening at the store. Savvy customers are doing their research before choosing 1-2 destinations to visit in person. That means your online information needs to be compelling and consistent with your in-store experience to win their customers business.
With an understanding of Unified Commerce, here are three reasons why moving towards this strategy ahead of the curve will provide your business with a competitive advantage:
- Today’s multi-channel consumers shop more often and spend 3x more than their single-channel counterparts. -Smart Insights
- 90% of retailers plan to use centralized inventory management, order management, and integrated CRM as part of a unified commerce platform within 3 years. -Pitney Bowes
- Those retailers who remain slow in delivering a unified commerce experience will likely see the impact by the 2017 holiday shopping season – in the form of sluggish sales. –Retail TouchPoints
STORIS’ Unified Commerce Platform consists of 5 central components. Click on each to find out about their functionality and benefits.
- Retail Technology
- Integrated eCommerce
- Mobile POS
- In-Store Kiosks
- All Connected Through the STORIS Shopping Cart
Interested in learning even more about Unified Commerce?
Our 2017 Industry Trend Guide provides a deeper dive into this chief retail strategy.