Cross-channel commerce has made it possible for consumers to make purchases no matter where they are, or what they are doing. This includes making purchases in person, over the phone, or via social media.
And according to PayPal’s managing director, Peter Cowan, retailers will need to get on board with this trend if they want to remain viable now and into the future. Cowan believes that having these types of digital options are now an expectation amongst consumers, and retailers need to take note.
“Customers expect to be able to look at a business and engage with them over different channels”.
Businesses that have already embraced cross-channel commerce include giant retailers JB Hi-Fi and The Good Guys.
Shoppers can find the item they want online and pay for it using a credit card, PayPal, or Zip Co, then choose Click and Collect before heading in-store to get their item.
This saves on delivery fees for the customer, with the added ease of a seamless online shopping experience that offers numerous payment options, an option that is experiencing an increased demand.
One small company that has gained increased revenue and value from cross-channel commerce is The Laneway, a south-Sydney cafe and takeaway business. The Laneway has a solid social media profile with thousands of followers, with a constantly updated Facebook page where patrons can book via the online booking function, and message the staff via Messenger with any queries.
Their Facebook page is linked to a dedicated takeaway ordering website and ordering app hosted by YQme, where customers can create a ‘favourites’ list.
These kinds of cross-commerce innovations illustrate the need for retail businesses - no matter its specialization - to have all their channels closely linked, ensuring high customer satisfaction and increased revenue.
As cross-channel commerce becomes an expectation of Australian shopping culture, innovative retailers should be quick to take advantage of these trends. A report highlights that 16% of shoppers get more offers from retailers and 12% indicate these offers are customised to their interests.
According to the report, online shopping as grown by 23.4% in the last twelve months, with more than 5.9 million households shopping online in August 2021. Online retail businesses are growing significantly, posing significant opportunities for those considering purchasing an e-commerce retail store.