Omnichannel adoption and innovation will define future of retail: Surbhi Juneja

WebEngage’s platform is designed to offer seamless and hyper-personalised customer engagement, real-time analytics, and omnichannel marketing solutions. With a focus on enhancing businesses with effective marketing strategies, WebEngage has empowered over 800 brands across various sectors to deliver true omnichannel experiences to their customers.

In conversation with Adgully, Surbhi Juneja, Director of Customer Success and Growth at WebEngage, sheds light on how WebEngage is transforming retail marketing efficiency by reshaping customer engagement trends for retail brands. Juneja also speaks about how WebEngage’s platform enables retail brands to leverage advanced technologies to create highly personalised and targeted marketing campaigns. By harnessing real-time analytics, retail brands can gain valuable insights into customer behavior and preferences, allowing them to tailor their marketing efforts accordingly.

How have the retail marketing trends evolved from 2023 and what are the upcoming trends for 2024?

In 2023, retail marketing witnessed a continued surge in e-commerce dominance as consumers gravitated towards online shopping for its convenience and enhanced user experiences. Personalisation became a key focus for retailers, with tailored marketing strategies catering to individual preferences. Globally, 40% of consumers were purchasing more from retailers that provide a personalized shopping experience across channels. Social commerce further evolved, with platforms like Instagram and Facebook integrating shopping features, facilitating seamless transactions within social media environments. Augmented Reality (AR) and Virtual Reality (VR) made strides in enhancing the online shopping experience, with virtual try-ons and interactive displays becoming notable trends.

As the industry transitioned through 2023, these trends shaped the retail marketing landscape, setting the stage for further innovations and consumer-centric strategies in 2024. With over 56% of adult consumers globally preferring to shop both online and in-person at a store, more brands will be shifting towards an omnichannel business model in 2024. Retailers will continue to invest in enhancing the online shopping experience through leveraging AI/ML tools and will focus more on multi-channel marketing. Adapting to the rising importance of digitalisation and hyper personalisation will be crucial for attaining and maintaining a competitive edge.

What brands are there in the portfolio of WebEngage? How do you support them?

WebEngage supports its retail brands such as Nicobar, Shoppers Stop, Blackberrys, etc., by providing them with a comprehensive marketing automation platform. The platform allows retail businesses to create engaging customer experiences through personalised campaigns across multiple channels at scale. With features like the Journey Designer, customer data platform, etc., WebEngage enables retail clients to drive user engagement and retention with data-driven strategies. Additionally, WebEngage offers dedicated support ensuring that retail clients have access to assistance 24x7. It also has high quality consulting practice that works with the clients on their business KPIs and ensures they achieve a high ROAS from the tool.

Is there an increasing use of digital marketing by retail brands and how it is positively impacting their businesses?

The prevalence of digital marketing among retail brands has witnessed a notable rise, particularly post the pandemic. This surge has brought about a distinct shift in customer behaviour, especially in terms of Customer Lifetime Value (CLV). A noteworthy distinction is observed between customers exclusively engaging in one channel (online or offline) and those participating in both online and offline channels, evolving into multichannel or omnichannel consumers. Remarkably, the CLV of the latter group is approximately 2.5 times higher than that of the former, emphasising the substantial need for and impact of providing an omnichannel or phygital experience. This highlights the profound positive impact of embracing digital marketing to offer a seamless omnichannel experience for the customers.

Is there a shift observed by retail brands transitioning to omnichannel business models? How is it influencing the future of the retail industry?

Yes, there is a notable shift among retail brands towards omnichannel business models, where they seamlessly integrate online and offline channels to enhance the overall customer experience. Omnichannel strategies allow retailers to provide a unified and consistent experience across various touchpoints, such as physical stores, websites, and mobile apps. This approach not only meets the evolving demands of tech-savvy consumers but also creates new opportunities for personalised marketing and data-driven insights.

At WebEngage, we’ve observed a change in our client base. Companies that were traditionally operating in the physical world now approach us for support in managing omnichannel strategies. These brands are adjusting to the changing consumer journey, recognising that the path to purchase is no longer a straightforward or linear process.

The future of the retail industry is likely to be shaped by the continued adoption of omnichannel models, fostering innovation in areas like augmented reality, AI-driven customer interactions, inventory management, and a more consolidated approach towards data (merging physical and digital user engagement). Retailers embracing this trend stand to gain a competitive edge by staying agile and responsive to dynamic market conditions.

What are some of the niche challenges that you find most prevalent in the retail industry?

Consumer behaviour continually evolves, influenced by technology, social trends, and economic factors, necessitating constant adaptation. The integration of online and offline channels poses a significant challenge, demanding a balanced and seamless experience across various touchpoints. Personalisation is paramount, but marketers must tread carefully to collect and analyse vast amounts of data that is collected and unified across all touchpoints (online and physical).

The competitive retail space requires differentiation strategies as customers have numerous options to choose from, making it challenging to retain customers. In such situations, keeping abreast of technological advancements, such as artificial intelligence, is imperative. Cart abandonment is a common issue in the retail industry, leading to missed sales opportunities. Brands often miss out on the importance of first-time purchase experiences, which is essential for retailers to expand their customer base.

Social media dynamics, with their ever-changing landscape, require marketers to respond to trends swiftly and manage brand reputation online. Brands must also address challenges emanating from short attention spans and create concise, engaging content to capture and maintain consumer interest.

What are some of the effective marketing solutions provided by WebEngage to their retail clients?

WebEngage provides a range of solutions specifically tailored for retail and e-commerce brands based on their target audience and business models. It offers retention and engagement strategies, that aims to increase conversions by providing automated onboarding, discovery, purchasing, and delivery experience through one comprehensive platform.

There are solutions to help brands integrate their offline and online stores by enabling omnichannel retail business models through seamless data unification. These solutions focus on providing a comprehensive and personalised customer journey across multiple channels.

From a business requirement perspective, the innovative solutions that cater specifically to fashion and lifestyle brands are focused on implementing effective retention and engagement strategies to drive overall growth. Whereas, for grocery delivery platforms, WebEngage offers solutions to drive a hyper-local engagement and retention strategy, which focuses on ensuring customer loyalty and satisfaction for daily essentials.

Serving across multiple channels like mobile push notifications, in-app notifications, web push notifications, email, WhatsApp, SMS, Facebook, and web overlays, WebEngage has been able to build direct and long-lasting customer relationships for retail brands by providing a full-stack marketing automation platform.

How has consumer behaviour evolved in the retail sector and which strategies are being used by retail brands to stay relevant?

Consumer behaviour in the retail sector is undergoing a notable transformation, marked by a pronounced shift toward online shopping and a desire for personalised experiences. Decision-making among consumers has become more complex (owing to a vast array of options) and deliberate, encompassing considerations of what to buy, where to buy, and how to buy. A global survey reveals that 32% of consumers are intensifying their research efforts during shopping. Approximately one-third of surveyed consumers worldwide are dedicating more time to decision-making, exploring multiple brands, stores, and retailers. In such a competitive landscape, it becomes a must for retail brands to not just engage, but retain their customers to have a profitable business. Brands are adapting to this evolving landscape by embracing omnichannel strategies, aiming to offer a comprehensive one-stop shopping experience.

Furthermore, marketers are increasingly relying on data-driven hyper-personalisation strategies utilising customer information to customise recommendations and promotions, while also optimising journey designs to effectively curtail abandonment. Another efficient strategic approach is to reduce cart abandonment through optimised journey designs, which helps boost revenue. Amongst all the engagement channels, WhatsApp has emerged to be the most effective as it is the most common platform for communication and promises higher delivery as compared to others. Taking action based on such industry-relevant strategies is the only way for brands to understand the evolving consumer trends.

What is the role of AI/ML tools and hyper-personalisation in influencing the online shopping experience?

The biggest challenge with the traditional retail ecosystem has been inability to create custom offerings for each customer due to absence of data points that can help in understanding consumer behaviour. AI/ML tools and hyper-personalisation play a pivotal role in revolutionising the online shopping experience as it lets the brands customise its offering for each customer. These tools enable brands to make predictive recommendations to match customer interests and offer exclusive promotions, fostering customer engagement and loyalty.

AI optimises marketing efforts by enabling hyper-personalisation, which extends beyond traditional channels to customise the entire online shopping experience, creating contextually relevant offerings. For example, AI-driven cart abandonment strategies automate content specific to abandoned products, creating urgency and motivation for quick purchases. AI tools provide insights into optimal communication timing and channel selection. These AI/ML tools support A/B testing, segmentation, and hyper-personalised recommendations, which, therefore empowers marketers with data-driven insights for continual improvements in conversions and ROI.

Any examples of innovative martech brand campaigns conducted for WebEngage’s retail clients?

WebEngage’s innovative martech campaign with Beco, a sustainable home, kitchen, and personal care brand, exemplifies advanced personalisation through AI. Specifically designed to address the challenge of cart abandonment, the strategy involves triggering a personalised video message featuring celebrity and brand ambassador Diya Mirza to encourage customers to complete their purchases, often coupled with a discount offer. This approach has effectively re-engaged customers who might have otherwise abandoned their carts, surpassing basic personalization by considering factors like product preferences and cart item colors through AI algorithms. The impact extends beyond immediate revenue, influencing purchase decisions across channels and aiming for sustained user engagement. WebEngage’s journey across D2C, retail, and e-commerce brands showcases a commitment to guiding clients to embrace digital transformation and enhance customer engagement.