Get Ready for the Omnichannel Challenge in Consumer Electronics Retailing
Consumer electronics retailing has entered a new and more challenging era. Customers demand a different shopping experience, one that closely matches their digital lives and characterized by immediacy, personalization and efficiency.
So retailers in this highly competitive sector need to offer products and services that reflect the always-on, always-connected lifestyles of today’s tech-savvy consumers.
Physical retail – where retailers meet customers face to face – is still where over the great majority of transactions take place, even in consumer electronics. But showrooming is highly relevant and the pace of product innovation has led to a dramatic reduction in time-to-market for product releases, increasing the risk that retailers miss the window of opportunity or fail to accurately predict demand for new products.
The big challenge for all brick-and-mortar retailers and especially those in consumer electronics is to offer something that eCommerce cannot and so keep customers coming back to their stores.
Advantages of physical retail
Tech-savvy shoppers value frictionless self-service experiences. But when they need help, they expect personalized, expert advice and this, of course, is an area where brick-and-mortar retailers have a huge advantage over e-tailers.
So the new frontier in electronics retailing is about providing seamless physical and digital experiences so shoppers can find what they want, when and where they want it.
Omnichannel technologies provides a way for consumer electronics retailers to do that and so counter the growing competition from brand-name manufacturers like Apple and from e-tailers like Amazon, for which consumer electronics was the biggest product category in 2017, with an estimated $8.5 billion in sales — up 4% year-over-year.
Making omnichannel a reality
Openbravo makes omnichannel a reality by enabling an effective integration of the online and offline channels with centralized management of all customers, orders and inventory to deliver the promise of a seamless shopping experience.
In consumer electronics retailing, it essential for retailers to be able to accurately forecast demand for products. Thanks to the connector with Frepple, Openbravo helps retailers produce accurate sales forecasts and so reduce the chance of overstocks or being caught off guard by high demand for new products.
To find out how the capabilities of Openbravo Commerce Cloud help consumer electronics retailers succeed in the omnichannel retailing, click below to sign up for our forthcoming webinar, Ready for the Omnichannel Challenge in Consumer Electronics Retailing?
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- Stores set for bright future with Bricks and Clicks Retailing
- Physical stores help grow e-Commerce sales through halo effect
- Interest in omnichannel reaches high as retailers focus on expanding initiatives
- Better Demand Forecasting Means Less Stock-outs and More Satisfied Customers