The Omnichannel Leadership Report 2024, published by NewStore, offers a comprehensive assessment of 696 global retailers across online, mobile, and in-store channels. The findings highlight the critical role of omnichannel capabilities in retail success, especially as customers increasingly expect seamless experiences across multiple touchpoints.
Key insights include:
- Gaps in Mobile Commerce: Only about 32% of brands offer a native shopping app, and even fewer integrate essential features like inventory checkers, live chat, or rewards programs. Despite this, mobile commerce is projected to grow, with mobile transactions expected to account for 62% of all eCommerce sales by 2027, underscoring the need for better app functionality.
- In-Store Digital Integration: Retailers are lagging in integrating digital features into physical stores. Only one-third offer “buy now, pay later” options, and many do not equip associates with mobile devices for better customer assistance. Bridging this digital-physical gap is crucial for driving foot traffic and improving the in-store experience.
- Global Discrepancies: Retailers in Australia lead the online space with 55% of assessed capabilities, but North America and Europe follow closely. However, mobile and in-store experiences show significant room for improvement globally. In-store capabilities in North America reached just 21%, while Europe fared slightly worse, indicating a broad need for investment in omnichannel technologies.
The report emphasizes the importance of adopting a composable commerce model, which allows retailers to select flexible technology solutions to rapidly deploy new omnichannel features, helping them stay ahead of evolving customer expectations.
For businesses aiming to thrive in this new era of commerce, integrating digital and physical shopping experiences is a strategic necessity