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The consumer products (CP) industry is experiencing considerable omnichannel changes stemming from the evolution of the new technologies used to browse and buy. As consumers adopt new technologies, CP companies must evolve with them and provide strategies to ensure that they can reach, engage and serve these consumers with timely, tailored information and offers across all channels and along the entire purchasing journey.

Omnichannel is a multi-channel approach to sales and marketing with the aim to provide consumers with a seamless brand experience. Channels can include the obvious in-store, telephone and web methods, but also the new hybrid sub-categories such as click-and-collect, live chat and smartphone apps.

The development of omnichannel strategies is highly beneficial for CP companies. It is no surprise that a recent global survey of CP sales and marketing executives found that 60% of organizations which have implemented omnichannel solutions have experienced better consumer insight. However, there are challenges due to the increasing demands of consumers and the difficulties associated with creating compelling and consistent brand experiences across the different channels.

As consumers globally are increasingly becoming connected via mobile and social, CP companies now have the opportunity to build better and more direct relationships with consumers through omnichannel strategies and tools. This can be through social media engagement and interaction, through special treatment built on loyalty, or delivering personalised offers based on a deeper understanding of needs and preferences, all of which can all help improve consumer loyalty and drive repeat purchases.

Arguably the greatest opportunity for CP companies when it comes to developing and implementing omnichannel strategies is the ability to develop a deeper understanding of consumer needs and preferences.

Are you getting the most from your channels?  To learn more about how SAP can help, visit www.sap.com/consumer.

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