5 Essential omnichannel strategies for telecom retailers

This article was contributed by iQmetrix, a member company of TM Forum. Retailers have been developing omnichannel strategies for some time but ever since the pandemic hit, they have been iterating solutions that maximize revenue and create seamless buying experiences, while keeping everyone safe.

At the 2021 Consumer Electronics Show, Corie Barry, CEO of electronics retail giant Best Buy said in her keynote, “The idea of stores as fulfillment epicenters is really important. You need to enable the store to give the customer what they want, when they want it. Do they want it same day, or in an hour? Do they want to come into the store, do they want it curbside, are they okay waiting for it to be shipped? You have to meet the customer wherever they are.”

The phrase ‘omnichannel strategy’ can mean many things but, for telecom retailers today, it means staying competitive in a rapidly evolving industry. Those who do not offer a seamless purchasing journey will get left behind. As Barry pointed out, “Once you have a great experience with one brand, you expect it everywhere else.” However, offering a true omnichannel experience is not a simple process—particularly in telecoms. It requires highly sophisticated software integrations to bridge the gaps between a brand’s e-commerce website, its corporate stores, and authorized retailer-operated stores. Here are the five key strategies telecom retailers must implement today to stay ahead.

1. BOPIS/ROPIS/BORIS (Buy online, pick up in-store/reserve online, pick up in-store/buy online, return in-store)

Customers expect to be able to purchase or reserve on the e-commerce website, then go to their nearest store to pick up the product. The selected store is notified of the sale or reserved item, it then picks and packs the device and puts it aside for the customer. Further to this, a BORIS policy is the next step in creating a barrier-free customer experience. A recent survey by the Wall Street Journal and the International Council of Shopping Centers found that 35% of shoppers have ordered online and returned purchases in-store. Offering these services is now a must-have for telecom retailers.

2. Curbside Pickup

This solution, integrated with BOPIS/ROPIS, has exploded in popularity during the coronavirus pandemic. Curbside pickup allows customers to stay in their car and the store associate will bring their item to them, which they would have bought or reserved online. Retailers offering this service are putting their customers’ convenience and safety first.

3. Inventory management

This is a foundational aspect of omnichannel strategy for telecom retailers which refers to the process of ordering, storing, distributing, monitoring, and using retail inventory. Having inventory transparency in real time, across all channels – retail stores (whether corporate or authorized retailer-operated), e-commerce websites, warehouses, distribution centers, and more – is crucial to the effective management of omnichannel purchasing flows.

4. Contactless payments

This means processing payments without exchanging any shared devices—zero touchpoints between the consumer’s payment device and the physical point-of-sale terminal. In pandemic times and going forward, there is an urgent need to limit contact points. And with 63% of retail sales still occurring in-store, managing expectations and providing security is a must. This may not seem like an omnichannel strategy at first blush, but it essentially amounts to customers paying through an online channel, even while in or near the physical store. A good contactless payment solution will allow the customer to complete the purchase transaction on their own mobile device.

5. Queue management

COVID-19 precautions mean a lower in-store capacity. While this ensures safety for everyone involved, it can cause line-ups outside the store. Long wait times can not only affect a customer’s experience with a store but can also negatively impact their perception of the overall brand. A good queue management and appointments solution will allow customers to check in online at the store once they get to the area. Associates are notified of the queue booking and can send a notification back to the customer once it’s their turn, enabling the customer to remain in the virtual line while shopping nearby or going for a coffee. Alternatively, they can simply go online and book the most convenient time to visit the store.

Omnichannel retail is the future

There’s no doubt that implementing these tools is now essential for today’s telecom retailer, along with countless other retail sectors. Prompted by changing consumer behavior due to the pandemic. This is a trend that will continue, even post-COVID. Today, customers are using this functionality out of necessity—but in the future, they will continue to use it out of habit and convenience.