Omnichannel. It sounds like it could be the hot new buzzword in CRE, but it actually is the future of it.
Simply put, omnichannel means “all channel”, and it reflects a fully-integrated approach to commerce that enables consumers to engage with their favorite retailers or brands in their own way and through multiple platforms.
In the commercial real estate industry, the retail sector has been at the forefront of embracing the omnichannel approach. Where once the online and store experience were treated as entirely different entities, they are now more integrated than ever. Consumers want a seamless experience, whether they are researching products online or shopping in the store, and they expect consistent culture and pricing both in store and online. This has caused retailers to integrate systems across several platforms.
A change in consumer behavior also has caused a shift in how online retailers communicate. Now there are multiple touchpoints with shoppers through various mediums, including ads, branded apps, social media, text messages and email. These forms of communication provide the retailer with customer profiles – everything from who and where they are to when and how they are shopping.
Property owners, too, have a unique opportunity to capitalize on the omnichannel approach. They can devise their own omnichannel strategy to assist their tenants, everything from free Wi-Fi with sign-up, advertising for the center or community activities and engagement.
The retail landscape will continue to shift and adapt as retailers fully integrate across all platforms and become a truly seamless omnichannel brand. At CPD, we are ready to offer our guidance and support every step of the way.