DESIGN AND IMPLEMENTATION OF OMNICHANNEL LOYALTY PROGRAMS FOR RETAILERS

Аннотация

INTRODUCTION adaptability to external factors. Over the past five Retail trade is an important sector of the Russian years, online commerce has gained popularity, economy, demonstrating significant growth and increasing its share of total sales (Fig. 1). https://www.theamericanjournals.com/index.php/tajmei 55 THE USA JOURNALS THE AMERICAN JOURNAL OF MANAGEMENT AND ECONOMICS INNOVATIONS (ISSN- 2693-0811) VOLUME 06 ISSUE08 Fig.1. E-Commerce market [14] customers in one channel should be available to Online platforms such as Wildberries and Ozon other channels, enhancing personalization and have entered the top ten largest retailers in Russia, service improvement. For example, a customer confirming the trend towards the growth of e- who has provided their contact information in a commerce. Similar processes are occurring store can receive information about discounts and globally, for example, in the USA and China. While new products via email, as well as place online the share of traditional retail is declining, this trend orders with delivery [1]. persists across different countries, necessitating the adaptation of traditional retailers to changing Therefore, this article aims to explore the creation consumer preferences and technological and implementation of omnichannel loyalty innovations. programs for retailers. Omnichannel provides brands with the 1. Theoretical Foundations of Omnichannel opportunity to interact with customers through Retailing various offline and online channels, significantly The omnichannel approach in retail is an increasing their market presence. With the rapid integrated customer service strategy that allows development of smartphones and the internet, seamless interaction with the brand across various people spend most of their time online. Therefore, channels at all stages of the purchase process. The it is important not only to have physical points of key feature of this approach is the ability for sale but also to be actively present in the digital customers to freely combine channels: for instance, space, using social networks, online showcases, they can research a product on the website, place online stores, and marketplaces. Moreover, an order through a mobile app, pay for the monetizing online channels is becoming a critical purchase online, and pick up the product in a aspect of business. Omnichannel offers customers physical store. This flexibility is ensured through the convenience of choice: they can visit pickup the complete synchronization of data and points or place orders for home delivery, which processes across all sales and communication increases their loyalty. Data collected from https://www.theamericanjournals.com/index.php/tajmei 56 THE USA JOURNALS THE AMERICAN JOURNAL OF MANAGEMENT AND ECONOMICS INNOVATIONS (ISSN- 2693-0811) VOLUME 06 ISSUE08 channels, creating a unified and cohesive brand confirm the effectiveness of omnichannel retailing. experience. According to Google research, applying an omnichannel model increases the Lifetime Value The key features of the omnichannel loyalty (LTV) by 30% [1]. A Harvard Business Review program promotion include: survey showed that 73% of respondents prefer - Coordination across all communication channels: using different channels for shopping, and To ensure a true omnichannel experience, it is omnichannel shoppers spend 10% more online important to build a logical sequence of message and 4% more offline compared to customers using delivery, avoid duplicating information, and a single channel [1]. complement it across different channels. An example of successful implementation of an - Control of message frequency: Determine the omnichannel strategy is X5 Retail Group, which optimal number of messages sent to each user in became the market leader with a 13% share in each channel to avoid annoying customers. This 2020 [3], achieved through the launch of an online number may vary depending on the business hypermarket, the creation of a unified mobile app sector and the duration of the loyalty program. with a personalized loyalty program and free - Customer choice of communication channels: delivery, all integrated into a single management Provide customers with the ability to choose their system. preferred methods of communication with the Moreover, reports from research centers such as brand, making the interaction unobtrusive and Data Insight, Nielsen, and Forrester Research pleasant. highlight, alongside omnichannel, trends such as Thus, the implementation of omnichannel retailing personalization, the development of the Internet of contributes to increased customer loyalty, Things, and product customization. Below, in expansion of interaction channels and Figure 2, the shares of customers are reflected monetization, audience growth, and a better depending on the number of channels used to make understanding of consumers through data a purchase. collection from all sales channels. Statistical data Fig.2. Buyer shares a