McKinsey’s latest research identifies that omnichannel strategies and personalization have been on retailers' radars for years. As presented in the Google Trends analysis below, omnichannel has been an increasingly popular buzzword over the past decade 🔥:
Previously, we’ve clarified the definition of omnichannel and its significance to your e-commerce success. Furthermore, if you want to learn more about how to integrate omnichannel strategies into your business, check out A Guide for Next Level Growth: Using Clerk Audience for Omnichannel Targeting.
Today, we'll let data tell the story 📊. Based on extensive research, we’ve compiled a list of 15 mind-blowing omnichannel statistics, shedding light on the significance and effectiveness of omnichannel strategies.
Keep reading and find out the top omnichannel stats and trends you should know for 2021 🧐.
Infographic: Top Omnichannel Stats & Facts (Editor's Pick)
Omnichannel Consumer Statistics
A growing number of consumers now are shopping through multiple channels, and omnichannel shoppers are statistically proven to be more profitable:
- Harvard Business Review observed the shopping behaviors of 46,000 consumers and found out that around 73% of consumers prefer shopping through multiple channels. Comparatively, 7% of consumers shop online exclusively, and 20% of them shop merely in-store.
- Furthermore, according to Google, most digital consumers' shopping journeys are spread across multiple channels. As many as 85% of digital consumers start the purchasing workflow on one device yet finish it on another.
- Harvard Business Review’s research also suggests that, for every additional channel they use, customers spend more money. Specifically, omnichannel customers spend 10% more online and 4% more in-store than single-channel customers.
- According to Google, omnichannel shoppers have a 30% higher lifetime value than those who shop using only one channel. This simply means that omnichannel customers can generate more revenue 💰.
Omnichannel E-commerce Statistics
As the figure displays, omnichannel is a natural progress of e-commerce. In other words, it's vital and inevitable to do omnichannel well for the future success of your e-commerce business.
- Nearly 80% of customers prefer omnichannel strategies due to the seamless communication experience.
- As opposed to single-channel, omnichannel marketing provides an increase in purchase frequency by 250% and a growth in the AOV (average order value) by 13% per order.
- Moreover, customer retention rates are 90% higher for omnichannel campaigns than those whose focus is on single-channel marketing.
Omnichannel Benefits Statistics
The popularity of omnichannel strategies comes as no surprise when you look at the following stats:
- Omnichannel strategies are also beneficial for in-store visits. Data collected by Think with Google indicated that omnichannel strategies drive an 80% higher rate of incremental store visits by customers.
- Did you know that companies with omnichannel customer engagement strategies retain on average 89% of their customers? This is compared to a 33% customer retention rate for companies with weak omnichannel strategies.
- Businesses that adopt omnichannel strategies see 91% higher year-over-year customer retention rates compared to businesses that don’t.
- Companies with strong omnichannel customer engagement see a 9.5% year-over-year increase in annual revenue, compared to 3.4% for weak omnichannel companies.
Omnichannel Implementation Statistics
Although more and more businesses are implementing omnichannel strategies, many are still struggling to deliver and master them.
- Almost 90% of retail leaders agree a seamless omnichannel strategy is critical to business success.
- PWC’s latest study demonstrates that in 2020, the number of companies investing in the omnichannel experience has jumped from 20% to more than 80% since 2012.
- 64% of marketers claim that lack of resources and investment is their top barrier to omnichannel marketing.
- The opportunity cost of not being omnichannel is 10% in lost revenue.
After reading these remarkable stats above, did you get excited about implementing omnichannel strategies and taking your business growth to the next level 🤩?
As mentioned above, while knowing the benefits of omnichannel strategies, many businesses struggle to implement and master them 😔. But don’t worry, Clerk has got you covered 💪!
Being the #1 rated e-commerce personalization platform, Clerk.io powers 2,500 + webshops worldwide to automatically grow sales and drive revenue. Get started with effective business growth in 2021 by talking to one of our specialists and getting a FREE trial today: