Who’s Making Omnicommerce A Priority?

We surveyed, we rated and we ranked – and now the results are in. This quarter’s edition of the PYMNTS OmniReadi Index^TM, powered by Vantiv, shows some real improvement in how merchants are optimizing the omnicommerce opportunity – and just in time for the holiday season. See who’s prepared to capitalize on the $1.8 Trillion opportunity that’s before them.

The PYMNTS.com OmniReadi Index^TM, powered by Vantiv, provides a data-driven analysis on who’s helping merchants prepare to capture the omnicommerce opportunity. With a quantitative analysis of the Top 100 retailers across the U.S., which account for almost 50 percent of total U.S. retail sales, the OmniReadi Index^TM is a definitive guidepost for navigating the global marketplace.

[vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][vc_custom_heading text=”MERCHANT SCORING” font_container=”tag:h3|text_align:left” google_fonts=”font_family:Oswald%3A300%2Cregular%2C700″][vc_column_text] In the October 2015 report, Index scores ranged from a (low) score of 28 to a (high) of 90.

Overall, across all merchant categories, the average score is 68, a four-point improvement over last quarter, reflecting the efforts made by Top 10 merchants. Their collective Index scores increased from 76 last quarter to 81 this quarter.

The Index score is based on two key components: The degree that the online and in-store experience is consistent for consumers, and if a merchant is adding additional value through mobile – through an app or mobile site.

Since the last edition, we have noticed that the merchants who are considered to be among the best of the best in offering exceptional omnichannel experiences succeed at reducing friction while improving connectivity, essentially making the consumer’s life easier.

As the omnichannel landscape continues to evolve, one thing remains constant – consumers crave consistency with respect to their shopping experience.

Whether placing an order online, browsing products in-store or shopping on mobile, consumer expectations are of a consistent experience that enables shopping whenever and however their individual situations dictate.

[vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][vc_custom_heading text=”KEY FINDINGS” font_container=”tag:h3|text_align:left” google_fonts=”font_family:Oswald%3A300%2Cregular%2C700″][vc_column_text]While the road to omnichannel “nirvana” remains a long one, our OmniReadi Index^TM for October is evidence that most merchants are honing their omnicommerce strategy, and consumers are taking notice.

The Best Get Better

While executing a seamless omnichannel strategy is no easy feat, the retailers offering the highest-rated experiences are making great strides. The highest score achieved reached a whopping 90 points out of 100 this quarter – a full 12 points higher than last time.

By delivering on some tough consumer demands, such as making wish lists available in-store or enabling mobile order ahead, these merchants are improving the ability to match an optimized online experience to what’s available in their physical store.

Online Features Still Outweigh In-Store Offerings

There are still many services consumers enjoy while shopping online that some merchants still don’t bring to the in-store shopping experience, such as: product recommendations, the facilitation of social sharing, supplied order history and access to a wish list.

To get the best of what online and in-store have to offer, as well as mobile, consumers are still relying on their own ability to knit together their separate experiences and optimize information for themselves.

Mobile And Online Get Better Together

Certain product areas have shown improvement in the mobile and online realm since last quarter’s report. These include:

• Account preferences are nearly universal online and have dramatically improved in availability in-app.
• Social sharing improved to near universal capability online.
• Product recommendations are also more available online.

To download the October PYMNTS OmniReadi Index, powered by Vantiv, click here.

For more updates from Vantiv, click here.