Unified Commerce — New Solution to Make Your Business Rock

Did you know that retailers with a strong omnichannel and unified commerce strategy often have an 89% retention rate? When compared to the meager 33% retention rate among companies without a strong omnichannel strategy, the justification for many organizations' significant efforts in creating unified commerce experiences becomes clear. But what defines unified commerce strategy? How does an omnichannel strategy affect the brand experience? What is the best method for companies to use their technology stack to create these exceptional customer experiences? What real-life examples will inspire you?

How Unified Commerce Works for Businesses?

eCommerce merchants like Amazon and Flipkart have caused a paradigm change in the industry model and brought numerous new capabilities to the world of eCommerce. As a consequence, consumer convenience has improved exponentially, resulting in an instantaneous increase in customer expectations. According to a recent study, 77% of consumers would suggest or pay extra for a business that offers personalized services. This is actually what’s possible with unified commerce.

While retail commerce is still a reality for many, companies are shifting to eCommerce to meet growing customer needs and boost client satisfaction potential. To put it another way, eCommerce has altered the way people shop, compelling retail store owners to use strategies that increase client engagement.

The Transition from Omni-Channel to Unified Commerce

To enhance top-line revenue and overall customer experience, companies started to explore a new business model — omnichannel commerce. This approach is focused on providing customers with a consistent experience across all channels. To reach this goal, businesses have to step outside of their comfort zones and establish a presence on different platforms — from online storefronts and social media platforms to mobile apps and many more. All of these customer touchpoints were designed to keep users engaged while also providing a platform where they could easily find and buy whatever they wanted.

Why Is Unified eCommerce Important?

Unified eCommerce is becoming a reality for enterprises across all sectors. Here's what it helps you accomplish:

• sellers may benefit from unified eCommerce by using consumer analytics. This may help them boost operational efficiency and profitability by adapting to the specific demands of their clients;
• unified eCommerce allows for more informed consumer interactions. Reps may have more meaningful discussions with clients when they have real-time data and preferences;
• it also guarantees proper inventory levels based on sales estimates. Businesses may evaluate data and keep an inventory of things that will be in demand;
• lost sales chances may be minimized by keeping an eye on inventory availability at a certain location.

How Can You Make Unified e-Commerce A Reality for Your Business?

Making Unified Commerce a reality for your organization requires some effort. To initiate the process, you must first unify the backend procedures of your company. The complete retail operation must be run from a single location, connecting the dots in your sector. This is one of the key ways in which unified commerce differs from omnichannel. Omnichannel attempted to provide a consistent customer experience across different channels. Therefore, if organizations have to unify commerce, they must look forward to beginning from the backend and combining the following: headless commerce architecture, robust backend systems, omnichannel integration, flexible frontend options, and data-driven insights. By focusing on these components, organizations can create a cohesive eCommerce experience that meets the demands of modern consumers while maintaining operational efficiency.

Inspiring Examples of Unified Commerce

Alibaba is an excellent example of a brand that has embraced the unified commerce model. The Chinese eCommerce behemoth employs fashion AI to study client behavior by monitoring their activities. Customers are prompted to scan their smartphone application when entering the retail store, which connects their purchasing experience to their online Alibaba mobile application. In addition, smart mirrors in retail stores show product information and mix and match product suggestions when touched. Finally, the app's virtual wardrobe function allows users to purchase things they may have tried in-store.

Similarly, Amazon's Amazon Go convenience shops combine the retail and digital experiences. The business model now being tried in the United States allows customers to walk out of businesses and pick things without paying any bills. Meanwhile, sophisticated cameras and sensors monitor client transactions and charge their Amazon accounts' statements.

Follow the Top Practices of Unified Commerce

Unified commerce is one of the most converting approaches in retail today. Over the last several years, the retail industry has faced tremendous pressures. Customer-centric experiences and agility have emerged as major differentiators between retail businesses that will survive under these circumstances and those that will fall behind. Unified Commerce, built on the foundations of customer experience and organizational agility, is the solution to an unpredictable and complicated retail industry. So go ahead and use it for your benefit.