Strong in-store omnichannel strategies important for majority of retail leaders, M-Cube survey

86% of retailers believe having a strong in-store omnichannel strategy is important for success, according to research by M-Cube.

The study, which surveyed 250 retail leaders in the UK, found that 76% of businesses believe omnichannel retailing is key to success in the next five years. 62% also prioritise omnichannel capabilities over other strategic initiatives.

59% feel that physical stores will remain important in this world, with 21% saying this importance will grow. In fact, since implementing omnichannel strategies, 69% of businesses have seen an increase in sales or revenue. 

Alexios Blanos, UK Business Director at M-Cube, comments: “Our research shows that retail leaders are prioritising omnichannel capabilities as they see the value in integrating digital and physical offerings to improve customer experience.”

“These leaders are recognising that having a strong in-store omnichannel strategy is crucial for success in today’s retail environment and it should therefore be at the forefront of their strategies moving forward.”

According to the survey, the biggest challenge when implementing omnichannel capabilities is achieving a consistent customer experience across channels. 90% of respondents state that maintaining a consistent customer experience across all channels is important.

Despite these challenges, 72% feel confident about the successful implementation of omnichannel strategies.

92% say that incorporating digital signage into omnichannel solutions will be important, with 39% saying AI and machine learning will play a key role. 

Blanos concludes: “The importance of omnichannel retailing is only set to grow, retail leaders must prioritise omnichannel capabilities to stay competitive in today's market.”

“Customers make purchasing decisions for a multitude of reasons, so businesses need to make sure they are doing everything they can to make sure they are standing out. This starts with creating powerful experiences across all channels.”