What is Omnichannel Commerce?”
“Omnichannel Commerce is a multichannel approach to sales that seeks to provide customers with a seamless shopping experience, whether online from a desktop or mobile device, via telephone, or shopping in a brick-and-mortar store. It is expected to grow from $2.99 Billion in 2017 to $11.01 Billion by 2023.”
Regional analysis
The regional segmentation of the global omnichannel retail commerce platform market segments the market into regional markets known as Europe, North America, Asia Pacific, and the rest of the world (RoW). During the forecast period, North America is expected to hold the largest market share due to high level of digitization and an increase in online sales. The primal country-specific markets in this region are the United States of America (USA), Canada, and Mexico. Europe is a crucial regional market as technological advancement in this region is very high, second only to North America. In Europe also, the trend of online shopping is growing. Important country-specific markets in this region are France, Germany, Italy, Spain, and the United Kingdom (UK). During the forecast period, the Asia Pacific region is expected to emerge as the fastest growing regional market due to the large e-commerce market and the increasing adoption of click and collect system. Significant country-specific markets in this region are China, India, and Japan, followed by the remaining countries in the Asia Pacific region.
The Challenge
Market Research Future (MRFR) has published a report about the global omnichannel retail commerce platform market that estimates massive raise for this market at 21.48% CAGR (Compound Annual Growth Rate) between 2018 and 2023. For 3PL warehouses looking to expand into these marketplaces, there is ample opportunity for growth. However, it can present some operational challenges if your warehouse is not set-up to accommodate ecommerce specific workflows.
In many cases, 3PLs and themselves entering into this elusive marketplace not as a growth strategy but due to customer demands. It will require investments in technology and equipment but it can also lead to extreme growth opportunities.
Whether your warehouse needs to evolve to ecommerce or omnichannel services due to “luck” or through strategic insight, how do you maintain operational efficiency in this new paperless world of online buying?
The Impact to 3PL Operations
Fulfilling ecommerce and omnichannel orders requires a 3PL warehouse to flawlessly automate labour-intensive tasks while offering data accuracy for high volume orders. These include:
Automating order entry 24/7 with direct integrations to ecommerce shopping carts, and inventory sync to avoid out-of-stocks Utilizing mobile scanning technology to offer 100% real-time data accuracy across all warehouse functions Ensuring that thousands of “individual piece or pallet” orders are picked, packed, and shipped quickly and accurately Automation of small parcel packing and label printing for orders that offer hands-free options without leaving the WMS
The best way to ensure accurate picking, packing and shipping with every order is to use an
For warehouses looking to take full advantage of the rise of ecommerce and omnichannel fulfilment, they must be willing to transform their facilities to include paperless workflows. Eliminating manual processes will not only boost efficiency but it will also reduce manual errors and ensure that warehouses better serve their customers.
The regional segmentation of the global omnichannel retail commerce platform market segments the market into regional markets known as Europe, North America, Asia Pacific, and the rest of the world (RoW). During the forecast period, North America is expected to hold the largest market share due to the high level of digitization and an increase in online sales. The primal country-specific markets in this region are the United States of America (USA), Canada, and Mexico. Europe is a crucial regional market as technological advancement in this region is very high, second only to North America. In Europe also, the trend of online shopping is growing. Important country-specific markets in this region are France, Germany, Italy, Spain, and the United Kingdom (UK). During the forecast period, the Asia Pacific region is expected to emerge as the fastest-growing regional market due to the large e-commerce market and the increasing adoption of click and collect system. Significant country-specific markets in this region are China, India, and Japan, followed by the remaining countries in the Asia Pacific region.
Whether a warehouse is looking to use consumer-grade devices or rugged scanners to withstand the conditions of the warehouse, they’ll need a WMS technology backbone that streamlines hands-free receiving, put away, and inventory management. With the expected increase of order volume, a truly automated WMS should also help with paperless picking, packing, and shipping labels and offer step-by-step instructions for even the newest of employees to follow all from the scanner device. Complete hands-free workflows will increase speed, efficiency, and eliminate manual order entry.