Global Omni-channel Retail Market: Size, Trends & Forecasts( 2017-2021) The commercial transactions are undergoing a significant transformation, worldwide. The commercial transactions are of four types namely, B2B, B2C, C2C and C2B. The B2C is also known as the retail sector. The customer shopping experience has evolved over the years; from going to a physical store to purchase a product or a service; to purchasing the same product or service under the umbrella of e-commerce; to buying the same product or a service through multiple channels( that includes smartphones, web or a physical store); to finally been made available the same product or service at the customer’ s demand at anywhere and anytime.
Global Omni-channel Retail Market: Size, Trends & Forecasts( 2017-2021) The commercial transactions are undergoing a significant transformation, worldwide. The commercial transactions are of four types namely, B2B, B2C, C2C and C2B. The B2C is also known as the retail sector. The customer shopping experience has evolved over the years; from going to a physical store to purchase a product or a service; to purchasing the same product or service under the umbrella of e-commerce; to buying the same product or a service through multiple channels( that includes smartphones, web or a physical store); to finally been made available the same product or service at the customer’ s demand at anywhere and anytime.
Omni-channel basically aims at integrating all diverse shopping channels into one, so that consumer efforts are reduced and at the same time they make an informed choice. The omnichannel retailing aims at enhancing the customer buying experience by allowing them to seamlessly access the same product or a service across different channels of shopping.
The concept of omni-channel is not only limited to retail, but is spreading across government, financial / banking and B2B channel too.
The global addressable market for omni-channel retail is anticipated to increase at a significant CAGR during the years 2017-2021. The omni-channel retail market is expected to increase due to growth in retail e-commerce industry, technological up gradation, innovations in point of sale terminal technology, increasing smartphone users, etc. Yet the market faces some challenges such as, need to develop sound order management system( OMS), reluctance to adoption of omnichannel retail concept, fast paced software development, etc.
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