Omnichannel Model Research Articles

Digital Technologies Supporting the Development of the Omnichannel Model in the Financial Sector

Digital Technologies Supporting the Development of the Omnichannel Model in the Financial Sector

Constraints and barriers on industrial customer performance in an omnichannel ecosystem

One of the business models in the digital field that has proliferated the most lately is the omnichannel model. Its objective is to provide services adapted to the specific demand of each particular client, regardless of the channel at any given time. To carry it out, the firm must have exact knowledge of the client. Manufacturing companies that have incorporated technology to learn more about their industrial customers and predict which proposal is the most appropriate for each customer-context have the basis to go further and get to know the final consumer. This knowledge of the consumer is a pillar for innovation in a company and especially for product innovation. Usually, the manufacturer does not want to bypass the traditional distribution channel, so it is proposed to create an ecosystem for the provision of services. That is, manufacturers enable digital communication channels with the final consumer, to collect information, while providing the service or supply through the traditional channel. In this way, omnichannel ecosystems arise. This article aims to clarify the barriers that hinder customer performance, either directly as an industrial buyer of a good, or as an intermediary, in an omnichannel ecosystem.

Omnichannel integration strategy based on BOPS.

Technological innovation and the upgrading of consumer preferences have greatly accelerated the rapid development of the "new retail" omnichannel model. Meeting the personalized and seamless interactive experience expected by consumers requires integrating the advantages of both offline and online channels and expanding the integrated and intelligent omnichannel layout. This has emerged as a complex problem that the industry urgently needs to address. In order to tackle this issue, we conducted a study on a Buy-Online-and-Pick-up-in-Store (BOPS) pricing game between offline stores and e-commerce departments, considering factors such as match probability and network cost of return. Furthermore, we proposed the Buy-Online-and-Pick-up-in-Store-and-Return-Online (BORO) strategy and conducted an analysis on the variation in market share and revenue levels for both offline stores and e-commerce departments under this strategy. The results demonstrate that: (i) the omnichannel strategy of BOPS can increase the revenues of both offline stores and e-commerce departments only when the distance costs are moderate; (ii) the BORO strategy provides greater benefits to offline stores compared to e-commerce departments; and (iii) the effectiveness of the BORO strategy is influenced by factors such as match probability, distance cost, and product return. This research not only provides a theoretical foundation but also practical insights for the strategic channel management of omnichannel brand merchants.

Transitioning to Omni-Channel Retail: Challenges and Strategies from a Qualitative Perspective

The retail industry has been undergoing significant transformation, driven by the increasing influence of technology and evolving consumer preferences. Omni-channel retailing, which integrates multiple sales channels to provide a seamless customer experience, has emerged as a critical strategy for businesses to remain competitive. This study explores the challenges faced by retailers in transitioning to an omni-channel model and identifies effective strategies to address these challenges. The research adopts a qualitative approach, drawing insights from in-depth interviews, industry reports, and case studies with a particular emphasis on the Indian retail landscape. Case studies of Indian brands such as Reliance Retail, Tata Cliq, and Flipkart illustrate the practical implementation of omni-channel strategies. The study concludes with actionable recommendations for retailers and policymakers to facilitate a successful transition.

Omnichannel retailing: exploring future research avenues in retail marketing and distribution management

PurposeThis study explores the present state of research related to omnichannel retail, investigates retail's different sub-areas and suggests future research directions.Design/methodology/approachThe subdomains of omnichannel retail have been identified using a keyword co-occurrence network (KCN) map and content analysis. The 5W1H method assisted in finding the bibliographies of 258 SCOPUS-indexed and ABDC-ranked journal articles and showcasing the omnichannel retail landscape.FindingsMost research on omnichannel retail is concentrated on five subdomains: customer behaviour, channel integration, technological innovation, supply chain and operations and strategy. The study's conceptual framework illustrates the omnichannel retailing environment and the variables that must be considered whilst establishing an omnichannel strategic vision. Besides, future researchers have been urged to concentrate on interdisciplinary research, as a seamless experience is unachievable if focussed on a single subdomain.Research limitations/implicationsThere is a slight probability of missing out on some good articles as this study considered only those articles that have been published in SCOPUS and ranked by the ABDC quality list.Practical implicationsThis study emphasises that for businesses to capitalise on the omnichannel model, the businesses must undergo a transformation involving technology convergence, customer-centricity and internal process reorganisation that integrates consumer feedback to co-create value. When a business adopts an omnichannel model, the business's priorities shift. Rather than depending solely on technology, faster delivery and channel integration, an omnichannel strategy requires strong leadership, a clear vision, training for all stakeholders and an understanding of customer pain points to reach the full potential.Originality/valueThe illustration of the omnichannel retail landscape using the 5W1H methodology and antecedents-decisions-outcomes (ADO) framework.

Omnichannel retailing with brand engagement, trust and loyalty in banking: the moderating role of personal innovativeness

PurposeThe purpose of this study is to analyze the effects of integration quality, perceived fluency and assurance quality on brand engagement and trust, and their impacts on brand loyalty in the omnichannel banking setting. It further explores the critical role of personal innovativeness and demographic characteristics as moderating variables for the propositions in the research model.Design/methodology/approachAn online survey of 1,547 respondents was carried out with bank customers located in the three largest cities of Vietnam, who have already used at least two various transactional channels in the past. The results were analyzed by the partial least square-structural equation modeling (PLS-SEM) technique.FindingsThe findings denote that integration quality, perceived fluency and assurance quality significantly influence brand trust. Whereas, brand engagement is only affected by integration quality and perceived fluency. Further, brand engagement and trust are substantiated as critical drivers of brand loyalty in omnichannel banking. Customers with high personal innovativeness produce fewer effects of omnichannel properties on brand engagement and trust than other ones. The research context is found to be a significant moderator for the effect of perceived fluency on brand engagement.Practical implicationsThis study offers several recommendations for bank managers to develop a successful omnichannel strategy that could enhance brand engagement and trust by improving integration quality, maintaining fluency across various channels and assuring security during the transactional process. It suggests various policies to improve the effectiveness of the omnichannel model towards the clients with high innovativeness.Originality/valueThis research extends the social exchange theory (SET) theory by examining the effects of omnichannel properties on brand engagement, trust and loyalty in the banking sector. The moderating role of personal innovativeness and research context is also explored.

Reuse and recovery of products in the reverse logistics process in the omnichannel model on the example of a sports store chain

Reuse and recovery of products in the reverse logistics process in the omnichannel model on the example of a sports store chain

ОСОБЕННОСТИ ВНЕДРЕНИЯ ИНФОРМАЦИОННОЙ СИСТЕМЫ CUSTOMER DATA PLATFORM (CDP) ДЛЯ УПРАВЛЕНИЯ КЛИЕНТСКИМ ОПЫТОМ С УЧЕТОМ АРХИТЕКТУРЫ ПРЕДПРИЯТИЯ

The article describes the omnichannel model, examines the role of the client data management platform as a link in building communications with clients. The functionality is analyzed, as well as the stages and features of the implementation of the Customer Data Platform (CDP) for managing customer experience, considering the enterprise architecture, are identified.

Nykaa: A Keen Contest in Beauty Products Retailing

In 2019, Nykaa was recognized as India’s undisputed beauty product sales queen. Since its inception in 2012 as a niche e-commerce website, Nykaa has evolved rapidly. By 2019, Nykaa opened its 50th retail store, with plans for another 150; it had expanded into new customer segments (salon owners and men) and forged new partnerships (e.g. with Bollywood celebrities). In a manner reminiscent of a judo player, Nykaa had outmanoeuvred much larger sellers, such as Amazon, and was close to a one-billion-dollar valuation by the end of 2019. Nykaa now faced an even more exciting set of opportunities and challenges. Nykaa’s recent decision to ramp up a new business-fashion faced scepticism. Sceptics questioned whether Nykaa’s omnichannel model could work in India’s fiercely contested fashion market in 2019. Nykaa also faced a growing challenge in its core market from purplle.com—an online marketplace for beauty products. While tracing the causes for Nykaa’s success in the beauty market, the case highlights the need for senior management to re-evaluate and evolve the company’s strategy.

Effect of Relationship Quality in Collaboration and Innovation of Agricultural Service Supply Chain under Omni-Channel Model

The goal of this study is to investigate the regulation effect of relationship quality in the process of the omni-channel (OC) model on service supply chain (SSC) collaboration of agricultural products. Furthermore, it is also to explore the intermediary effect of SSC collaboration in the process of service innovation and OC. A questionnaire was developed, research data were gathered from businesses in the agricultural SSC in western China, and an empirical study was carried out by using the AMOS multivariate statistical analysis approach after a thorough review of the literature in recent years. The study demonstrates that the OC model has a considerable impact on service innovation, SSC collaboration has an intermediary effect, and the quality of supply chain (SC) relationships has a regulation effect in the model. The results inspire academics and industry professionals to focus on SSC collaboration, improve the OC model’s administration, and promote service innovation in agricultural SC. Finally, the paper proposes suggestions to promote agricultural product development in western China in terms of enhancing SSC collaboration, OC model, and service innovation.

ШЛЯХИ РОЗВИТКУ ВІТЧИЗНЯНОГО РИТЕЙЛУ В ПОВОЄННИЙ ПЕРІОД

The article presents the principles of finding ways to develop domestic retail in the postwar period. The state of domestic retail during the period of military threat is studied. The main trends of its development are highlighted: changes in the relief of Ukrainian retail and internal characteristics of trade enterprises. The profile of operating facilities of different market segments is established on the basis of changes in their number and percentage from the total number to military action. Sparklines of each of the market segments were built, which allowed to visually show the dynamics of changes in MarchMay 2022 and determine the variability of the retail profile over three months. The nature of growth dynamics in the system of enterprises of different segments and the pace of network recovery are established. The change of product profile in the studied period is analyzed and the TOP-3 enterprises that occupy the largest share in providing services to consumers are identified. It is proved that the relief of retail changes under the influence of factors related to martial law, territorial changes, the speed of recovery of the network in case of operational safety. The internal characteristics of Ukrainian retail during the war are highlighted, including: changed work schedule, survival issues, priority of ethics, planning processes for a short period. Various examples of economic success in rebuilding countries are considered. The plans for the post-war reconstruction of Ukraine proposed by international organizations and the announced program for the development of the national economy in the postwar period are analyzed. Such a program provides for the transition from the raw-agricultural-raw type of economy to the technological type and the creation of a new structure of the economy. Trade is singled out as a sphere of the national economy that ensures the livelihood of the population. The ways of development of Ukrainian retail in the postwar period are offered, among which: digitalization of the main trade and technological processes; construction and improvement of logistics; optimal combination of offline and online formats; development of own brand; formation of the customer base on the basis of research of consumer behavior. The content of each of the proposed areas is given. Emphasis is placed on the formation of customer relationship management (CRM) and digitalization of business. The importance of the organization of effective promotion of goods and their storage to increase sales and improve transport and warehousing logistics is considered. It is proved that the successful format of retail operation is the omnichannel model. Own brands are considered an integral part of retailers’ activities and attracting loyal customers to ensure sufficient sales and profitability

E-COMMERCE ІN UKRAINE: TRENDS AND DEVELOPMENT PROSPECTS

Objective. The objective of the study is to analyze the main trends and features of e-commerce in Ukraine and identify prospects for its further development. Methods. To achieve the objective, the following research methods are used: systematic and comprehensive analysis (to identify trends in e-commerce in the world and the domestic economy), comparison and grouping, graphical and tabular methods (for visual representation of statistical material), abstract-logical method (for formulation of proposals and conclusions). Results. The indicators of e-commerce development in the world are analyzed. The main tendencies of the e-commerce market of Ukraine are investigated. Based on the analysis of the dynamics of the volume and structure of the e-commerce market of Ukraine, the growth of indicators in 2015-2021 is established and growth is expected in the future. Assessment of the market structure by major sellers shows that it is dominated by marketplaces. Analysis of the product structure of the Ukrainian e-commerce market shows that the largest segments are electronics and media, fashion, furniture and appliances. According to experts, the market in Ukraine has great potential, because the e-costs of one Ukrainian are far behind the developed world and European countries. The key trends of e-commerce in Ukraine in recent years are summarized. They include: the growing share of mobile traffic, fast payment methods, a variety of payment systems. reviving e-commerce in the regions by improving the logistics network and increasing the level of Internet penetration in the regions, fast and affordable delivery, increasing the number of purchases on credit, the transformation of online stores into marketplaces; provision of additional services, omnichannel, significant influence of social networks, promotion of chatbots, etc. The main problems of e-commerce development in Ukraine are systematized. The trends in the development of the e-commerce market during the war between Russia and Ukraine have been revealed. It is established that the key directions of e-commerce development in Ukraine in the near future will be: maximum process automation, providing range for customers, quality control, omnichannel model of work, development of marketplaces and logistics, increasing filling centers, information touching the customer where it is convenient and appropriate, increasing the share of sales on foreign marketplaces, promotion through social networks, native advertising and publications in the media, the introduction of new technologies, training. Key words: e-commerce, e-trade, development trends, online commerce.

Evolution of omni-channel business models: a new community-based omni-channel and data-enabled ecosystem

PurposeThe authors seek to crack the model of new retail by outlining the unique business model known as community-based omni-channel and data-enabled ecosystem.Design/methodology/approachThe study’s analyses of Hema cases and other examples reveal a new omni-channel model, a community-based and data-enabled ecosystem model.FindingsThe ecosystem targets local customers within a limited geographical range. It is also data-enabled and effectively leverages large-scale data on consumers, store operations, supply chains and logistics to ensure the smooth functioning of the ecosystem.Originality/valueThe authors hope the typology brings new insights to the development of omni-channel retail.

Research on Innovation of Chain Enterprises from the Perspective of Omni-channel

Purpose – In line with the changes in consumer consumption habits and the pursuit of individualized and diversified needs, Omni-channel business models have become a new direction for the transformation and development of traditional retail companies. Design/Methodology/Approach – This paper takes various influencing factors as independent variables, and tends to choose online consumption as the dependent variable. This article divides the independent variables into two levels. The first is the internal level of resident characteristics, including gender, age, average monthly income level, marital status, and average online time. The second is the external level of online consumption, including product prices, product quality, product types, delivery speed, and after-sales service. Findings – Based on a brief introduction to the current situation of Omni-channel transformation of the retail industry and the impact of online retail on the changes in consumer behavior, the article takes three chain retail companies of Weidomei, Guodomei, and Ziyan Foods as examples. Deal with the four aspects of strategy, price system and membership system, and explore the Omni-channel innovation of the business model of food chain retail enterprises. Research Implications – Relevant suggestions are put forward in response to the problems existing in the innovation of the business model of food chain retail enterprises at this stage. Take the innovation of food chain retail companies in the Omni-channel model as a case, in order to provide ideas for food chain retail companies to achieve Omnichannel transformation, and provide a useful reference for the entire chain retail industry.

Assortment optimization in omni-channel retailing

• Omni-channel operations requires seamless assortment planning. • First assortment model with cross-channel substitution. • Demand model with space-elastic and out-of-assortment and out-of-stock effects. • Specialized heuristics developed for large-scale problems. Nowadays the majority of retail customers use multiple channels. We investigate the assortment, space and inventory problem for an omni-channel retailer operating with interconnected bricks-and-mortar stores and an online shop. For this problem it becomes essential to consider customers’ demand interactions across channels. Current literature mainly focuses on single-channel assortments and ignores cross-channel substitution. We contribute the first integrated omni-channel model that determines assortments for the online and bricks-and-mortar channel with stochastic, space-elastic and out-of-assortment and out-of-stock demand both for in-channel substitution and cross-channel substitution. A specialized heuristic is developed that is based on an iterative solution of a binary problem and demand updates. Our approach achieves near-optimal results for small instances and higher objective values as an alternative heuristic for larger instances. With the full integration of channels, omni-channel retailers can realize a profit increase that mainly depends on the magnitude of substitution rates. We further show numerically that in-channel substitution has a stronger impact on profits than cross-channel substitution when costs are equal across channels.

Optimal Channel Strategy for a Fresh Produce E-Commerce Supply Chain

As an increasing number of firms move to omnichannel operation for business sustainability, it is also necessary for fresh produce firms to adopt an omnichannel model by integrating online and offline channels. We focus on a fresh produce supply chain consisting of a supplier who sells online directly and a physical store retailer. The purpose of this paper is to explore the optimal channel selection strategy considering the fresh-keeping efforts of supply chain members. Specifically, we examine the conditions under which the supply chain members should cooperate to adopt the deliver-from-store (DFS) model and further investigate the impact of consumers’ freshness sensitivity and offline hassle cost on supply chain members’ sales model options. Several important conclusions are shown as follows. First, the retailer’s profit increases with the increasing freshness sensitivity in the dual-channel model, while it decreases if consumers are sufficiently sensitive to freshness in the DFS model. Second, if adopting the DFS model, online demand and total market demand expand, and the performance of the supplier and the retailer heavily depends on the size of the commission rate. Third, there always exists a win–win situation with an appropriate range of commission rate when the consumer’s hassle cost is large. This paper contributes to the omnichannel strategy research of fresh produce supply chain management and the results provide management insights for the sustainable development of the fresh produce industry in the omnichannel retailing environment.

Consumers' Path to Purchase Journeys: An Omnichannel Deep-Learning Model

The proliferation of omnichannel practices and emerging technologies opens up new opportunities for companies to collect voluminous data across multiple channels. This study examines whether leveraging omnichannel data can lead to –statistically and economically– significantly better predictions on consumers’ online path-to-purchase journeys, given the intrinsic fluidity in and heterogeneity brought forth by digital transformation of traditional marketing. Using an omnichannel dataset that captures consumers’ online behavior in terms of their website browsing trajectories and their offline behavior in terms of physical location trajectories, we predict consumers’ future path-to-purchase journeys based on their historical omnichannel behaviors. Using a state-of-the-art deep-learning algorithm, we find that using omnichannel data can significantly improve our model’s predictive power. The lift curve analysis reveals that the omnichannel model outperforms the corresponding single-channel model by 7.38%. This enhanced predictive power benefits various heterogeneous online firms, regardless of their size, offline presence, mobile app availability, or whether they are selling single- or multi-category products. Using an illustrative example of targeted marketing, we further quantify the economic value of the improved predictive power using a cost-revenue analysis. Our paper contributes to the emerging literature on omnichannel marketing and sheds light on the inherent dynamics and fluidity in consumers’ online path-to-purchase journeys.

An Overview on Omnichannel Inventory Strategy under Uncertain Demand

With the improvement of people’s living standards, there are higher requirements for product quality and personalization. At the same time, the development of science and technology, such as big data, cloud computing, VR, etc., provides technical support to meet the higher shopping needs of consumers. Promoted by these two factors, omnichannel came into being. In the omnichannel model, a single demand may exist in multiple channels, which increases the difficulty of retailer demand forecasting and brings challenges to the inventory management of omnichannel retailers. This article sorts out and analyzes the changes in omnichannel consumer demand, the relationship between channels, and the related research on multi-channel and omnichannel inventory strategies, and finds that there are few studies on omnichannel inventory strategies. At present, the research on omnichannel inventory strategy is mostly based on a specific omnichannel model inventory strategy research. The characteristics of omnichannel such as changes in demand and channel relationship have not been included in the relevant research. The characteristics of omnichannel such as changes in demand and channel relationship have not been included in the relevant research. This paper proposes that future research can pay more attention to the impact of the new characteristics of the omnichannel model on inventory management, as well as the challenges of inventory management caused by the competition and cooperation between channels, and provide a scientific basis for omnichannel inventory management.

Research on the decision-making of return freight insurance considering consumer behavior under the omni-channel model

This article considers that consumers choose offline returns under the omni-channel model to bring additional benefits to retailers, and studies the impact of different freight insurance delivery strategies on the pricing and consumer behavior of omni-channel retailers. Establish consumer utility function and corporate profit maximization model. Research has shown that consumers’ satisfaction with the three ways that companies do not provide return freight insurance for consumers’ online return, companies offer return freight insurance for consumers’ online return, and companies do not provide return freight insurance for consumers’ offline return when the price is high, free return shipping insurance can maximize the company’s online benefits, while not providing return shipping insurance services can maximize the company’s offline benefits, reducing commodity prices, and improving offline store service levels to further increase revenue; improve products Packaging quality to increase the net residual value of the product by ensuring the integrity of the product has a positive impact on increasing market share and corporate profits.

Антикризисные тренды рынка FMCG в период пандемии: e-grocery, маркетплейсы, цифровые технологии

While studying the structure of the Russian FMCG market, the authors conclude that the crisis has provoked the emergence and rapid development of a new area of interaction between retailers and large chain stores e-commerce with consumers in the FMCG segment. Three main trends in this process are identified: e-grocery, marketplaces and digital technology. The authors describe the omnichannel model of sales technology in the FMCG sector and define it as the most effective for retailers using online stores and marketplaces.