The pandemic has led to a profound shift in consumer behavior, underscoring the need for brands to rethink their strategies both online and offline. A recent study, for example, shows that when people are thinking of buying a new product, online ads have a stronger influence than personal recommendations in the brand discovery and decision-making process.
Amidst this constantly changing landscape, retailers are starting to recognize and understand the business-critical need for omnichannel transformation. However, many retailers still struggle to define what an omnichannel ecosystem actually entails for each unique business.
To keep up with today’s customers, any organization, big or small, needs to be agile and ensure operational synergy across all its teams. This can mean making use of data to inform product and service offerings, setting up technology infrastructure to facilitate the flow of information, or creating a climate where teams are empowered to make faster, smarter decisions.
Start by ensuring your products, people, and technology are all working in sync and towards the same goals. Every successful ecosystem is a sum of various parts working together to create a cycle of continuous value and growth.