Unified Commerce
With a unified commerce platform, retailers can connect all business operations, channels and customer interactions on a single platform. With an integrated system and data, unified commerce creates a cohesive and efficient shopping experience, benefitting customers and retailers.
What is unified commerce?
Unified commerce is a business strategy that integrates all sales channels, processes and data into a single platform. It enables customers to make purchases, track orders and access customer support across all channels with a single account. Unified commerce strategy is especially valuable for retailers, grocers and quick-serve restaurants that wish to connect their backend systems with customer-facing channels.
Unified commerce can help organisations achieve business goals such as revenue growth, streamlined operations and improved customer loyalty. Retailers can gain a holistic view of customer behaviour and preferences and use that information to provide more targeted and personalised marketing and sales strategies. Additionally, having a consolidated view of the back end – such as inventory, order fulfilment and sales performance – helps retailers to optimise operations.
Omnichannel vs. unified commerce
Unified commerce isn't the same as omnichannel. Where an omnichannel approach tends to stop after multichannel expansion and frontend alignment, unified commerce consolidates all a retailer’s channels, payment systems, products and customer interactions to deliver an integrated, measurable and frictionless experience. Customers can make purchases, track order history and access customer support across all channels with a single account and a continuous, uninterrupted experience.
On the other hand, an omnichannel strategy focuses on providing customers with multiple channels to make purchases and interact with a business, but these channels may not be fully integrated. An omnichannel strategy typically depends on numerous technology platforms integrated to varying degrees.
Unified commerce is a modern answer to the traditional omnichannel strategy. Whereas an omnichannel approach is primarily optimised to drive short-term conversion by creating consistent experiences across siloed channels, unified commerce aims to increase customer lifetime value (LTV) by providing a continuous and integrated experience as customers transact and engage across multiple channels.
Unified commerce and omnichannel ecosystems also handle customer and sales data differently. Because data from all channels is centralised, unified commerce provides a more comprehensive view of customer behaviour and preferences, sales trends and real-time inventory visibility on all channels – all stored within a single database.
If platforms and systems aren't integrated in an omnichannel strategy, data can be stored in separate databases. This not only requires a lot more reconciliation but can also make it more difficult to track and analyse customer behaviour and sales performance across all channels.
Components of unified commerce
A unified commerce approach comprises four main components: systems, channels, products and interactions.
Systems
Because unified commerce centralises an organisation's entire retail operation into one platform, it makes it easier to adapt and scale to business needs change. This reduces the time and resources spent managing multiple providers, improves operational efficiencies and allows for the capture of data insights across multiple touchpoints. A single, centralised platform makes it far easier for retailers to enter new markets, expand to new channels and integrate emerging technologies, like mobile wallets or endless aisles.
Channels
By unifying payment methods from every channel into a single platform, it’s easier to identify and link shoppers across channels and regions securely. This helps retailers better fulfil cross-channel purchases, such as endless aisle or click-and-collect options. Organisations can also easily measure sales results, such as analysing how opening a store affects your e-commerce sales in the same area or how an in-app loyalty programme affects in-store purchases.
Products
From shopping online and collecting in-store to buying in-store and choosing home delivery, unified commerce opens a more comprehensive range of delivery options to customers. Customers should get a consistent view of products across stores and online channels. Additionally, store staff should have just as much knowledge of stock availability as warehouse staff do.
Interactions
Customers expect speed, convenience, consistency and personalisation in their brand interactions. Unified commerce ensures that customer interactions are securely captured and centralised, so retailers can easily recognise shoppers across multiple touch points and build a deeper understanding of their behaviour to serve them with more personalised experiences.
Benefits of unified commerce solutions
Unified commerce aims to create a more connected, customer-centric and efficient retail experience that meets customer expectations. Here are a few advantages of a unified commerce experience:
- Consolidated payments. By consolidating all your payment systems and data across every channel, in-store, online or in-app, retailers can better identify their customers, understand their needs and facilitate seamless cross-channel experiences.
- Better customer experience. Unified commerce removes friction and creates a more tailored shopping experience. This makes it easier and faster for customers to purchase products and services. As a result, retailers see higher conversion rates, sales and customer LTV, and encourage greater brand loyalty and advocacy.
- Better business insights. Real-time visibility into inventory levels, sales data and customer behaviour across all channels helps businesses make better-informed decisions about inventory management, marketing and sales strategies, resulting in increased sales and profitability.
- Improved operational efficiency. By implementing a unified commerce platform, businesses can centrally manage their inventory, pricing and promotions, automatically reflecting updates across all channels. Externally, companies can provide better, faster service due to the centralisation of online and in-person sales, refunds, transaction history, order management, inventory and fulfilment.
- Create a flexible buying journey. With a single platform, businesses can offer customers more purchasing and financing options at checkout. Shoppers can add a product to their carts online, enter a promo code and then opt for in-store pickup.
- Accurately track customer interactions. With unified commerce, retailers can track customers across every touchpoint, with every interaction representing an opportunity to re-engage and nurture. All customer engagement is tracked by the same system, so organisations won’t lose valuable insights into a customer’s actions as they switch between channels.
Examples of unified commerce
Unified commerce can transform all aspects of a retail business, including business operations, channels and customer interactions. Here are some examples of unified commerce in action:
Seamless omnichannel experience
Customers can start shopping on a retailer’s website, save items to their cart and then complete the purchase in-store using a mobile app. The retailer's system recognises customers across all channels, ensuring a seamless transition and consistent experience.
Integrated inventory management
A retailer uses a unified commerce platform to synchronise inventory data across online and physical stores. This allows for accurate real-time inventory tracking, so customers can see if an item is available online, in a nearby store or for curbside pickup.
Personalised customer interactions
A customer browses products online and adds some to their wish list. Later, when they visit the physical store, a sales associate, using a unified commerce platform, can access the customer’s online activity and offer personalised recommendations or discounts based on their preferences.
Consistent promotions and loyalty programmes
A customer earns loyalty points from purchases made both online and in-store. The unified commerce platform ensures that these points are consistently updated and can be redeemed across all channels, providing a cohesive rewards experience.
Streamlined returns and exchanges
A customer purchases an item online but decides to return it in-store. The unified commerce system allows the store to process the return seamlessly, with immediate updates to inventory and the customer’s purchase history, regardless of where the purchase was initially made.
Enhanced data analytics
A unified commerce platform collects data from all sales channels and customer interactions. Retailers can analyse this data to gain insights into shopping behaviours, optimise inventory, tailor marketing campaigns and improve overall business strategies.
Unified customer service
A customer contacts support via live chat on the retailer’s website regarding an order they placed in-store. The customer service representative can access the customer’s entire purchase history and provide informed assistance, ensuring a consistent and efficient support experience.
Cross-channel order fulfilment
A customer orders a product online and picks it up at a nearby store. The unified commerce platform ensures that the product is reserved at the chosen location and notifies the customer when it’s ready for pickup.
Unified commerce is revolutionising retail by seamlessly integrating all sales channels and customer touchpoints into a cohesive platform. This holistic approach enhances the customer experience and improves operational efficiency, providing businesses with real-time insights and streamlined processes.
We support retailers to leverage digital retail solutions to master unified commerce, offering customers a seamless customer experience. By weaving together the best platforms for your needs, we help you harness the power of a bespoke software stack so you can embrace emerging technologies and unlock sustainable growth.
Further reading
Check out these resources to learn more about unified commerce and its role in people-centric innovation.
