Retailers may be misinterpreting the phrase “omnichannel," according to a report from the O Alliance and data analytics company Revmetrix, “Retail Transformation Underway.”
While “omnichannel” should mean that a retailer is able to sell and serve its customers regardless of whether they’re in store, online, or on their phones, too often retailers think it simply means segmenting channels and having them operate separately from each other.
Instead, retailers should be integrating their teams, their inventories, and their analytics so that they’re not all operating in silos, O Alliance co-founder Andrea Weiss said at a presentation of the report, according to New York Business Journal.
This is an excerpt from an article posted on RetailDive.com. For complete article, click here.