What is single, multi and omni channel commerce?

Holiday sales rose 3.8% year over year to $964.4 billion, according to U.S. Census Bureau data compiled by the National Retail Federation.

As ecommerce business owner we should understand communication touch points with customers in order to build customer centric system.
As consumers today, have access to greater amount of product information with comparative data and market trends. This brings need and opportunity to build a channel which draws consumers through out purchase journey.

Single Channel

A single channel can be any method of communication between a consumer and an ecommerce,
such as website,messaging,email,app ,etc.

Multi Channel

Enabling multiple platforms to communicate with Customer , makes easier for a consumer to buy in most appropriate ways for them.
Multichannel enables to sell on multiple channels such as website, brick-and-mortal, social media, email and blend of all. This model allows the business owner to review each ecommerce sales channel. However it is recommended to ensure all channels are in synch with pricing, promotions and other details.

Omni Channel

Omnichannel ecommerce channel provides seamless experience to customers regardless of the channel. Omnichannel is customer centric approach focusing on synchronizing data between multiple channels.
Omnichannel enables all partners ability to connect with consumers , this drive sales through channel agnostic. This will take advantage of physical store in capturing attention of potential customers through specific channels.

Benefits:

• Consumer Experience
• Omnichannel strategy connects the dots between all channels, offering customers a seamless experience across all platforms.
• This also provides the opportunity to stay connect with customer in all possible channels and understand behavior to create personalized experience.
• Provides customer with convenience and a unified journey regardless of channel.
• Conversion Rate & Marketing:
  After understanding customer behaviour and intersted channel, this allows to promote personalized products & Services and increase return customer rate. For example if custumer shows interest any particular apparel brand by revisitng then that would be driving point to funnel.
• Platform\System improvements:
  Understanding impact of each touchpoint, this enables to invest on potential channel for more revenue .Marketers can have accurate data to analyze channels, webpages and perform testing in turn it also helps to optimize budget.
• Assures customers with inventory across all sales channels.

Retailer has to rethink their systems, integrations , operations ,etc. in order to adapt to omnichannel. In Omnichannel retailer has to adopt to new technologies and systems to meet pushing demands from customer behavior.