30 Omnichannel Marketing Statistics You Should Know in 2022

Omnichannel marketing in fintech
Omnichannel | Oct 10 2022
Aileen Wheetly | 5 Min Read
Table of Contents
    Blog Omnichannel 30 Omnichannel Marketing Statistics You Should Know in 2022

    30 Omnichannel Marketing Statistics You Should Know in 2022

    Omnichannel marketing has been on the radar over the last decade, with customers increasingly showing interest in the need for coordinated experiences across all touchpoints, including digital and in-person. Business owners looking to drive growth are adopting omnichannel technologies to meet those expectations.

    In a 2021 study, McKinsey found that omnichannel experience and personalization are prime expectations from modern consumers, and retailers are leveraging them as part of their customer acquisition and retention goals. 

    In today’s blog, we wanted to let data tell the story. We researched and compiled the 30 omnichannel growth statistics you should know in 2022 and organized them into four categories:

    • Consumer Omnichannel Statistics
    • Omnichannel Implementation Statistics
    • Omnichannel Benefits Statistics
    • Omnichannel Growth Statistics

    So let’s get started!

    Consumer Omnichannel Statistics

    1. A Harvard Business Review found that 73% of customers prefered using multiple channels throughout their shopping journeys. On the other hand, only 7% prefered shopping exclusively online, and the other 20% exclusively in-store. 
    2. The Harvard Business Review also found that for every additional channel the business owners used, customers spent more. Online customers spent 10% more, while in-store customers spent an additional 4%.
    3. According to a study by Google, the majority of consumer shopping journeys today are spread across different channels. The study reveals that 85% of consumers begin their shopping journeys in one channel and finish on another.
    4. A 2015 study by IDC shows that omnichannel shoppers have a 30% higher lifetime value compared to those who use only one channel. This implies business owners using omnichannel marketing have a higher chance to drive higher revenue.
    5. More than 35% of customers expect to contact the same customer service representative via whatever convenient channel is at their disposal, a feature that is only supported by omnichannel marketing tools.
    6. 27% of customers say they would switch to a different online store if they didn’t find what they were looking for, and 21% would hold off on purchasing.
    7. 50% of customers expect business owners to offer digital platforms where they can make purchases online and later pick them up in-store.
    8. According to a study conducted by Forrester, 58% of customers have checked online inventories at home before going to a brick-and-mortar store, 38% while on their way to a store, and 34% have checked the products while in a store.

    Omnichannel Implementation Statistics

    1. In their study, “Retailing 2020: Winning in a polarized world,” PWC realized organizations investing in omnichannel customer experience have increased to 80% in 2022, up from 20% in 2020.
    2. 87% of US retail leaders believe omnichannel strategy is “very important” in streamlining customer experience across all channels, but only 8% of institutions have managed to implement it.
    3. A study by CMO Council found that the missing link to successful omnichannel marketing is that up to 64% of marketers do not have the resources and talent to implement the solution.
    4. According to Deloitte, 48% of customers are willing to share their data for personalization, an integral functionality in omnichannel marketing tools.
    5. 40% of eCommerce platforms in North America and Europe say using an omnichannel marketing strategy is important. 
    6. About 55% of companies have reported that they do not have an omnichannel marketing strategy in place, even though 45% know multichannel is as effective in their marketing strategies.
    7. 84% of marketers today leverage data to make informed decisions about their organizations.
    8. More than 70% of retailers are not satisfied with their omnichannel marketing approach.

    Omnichannel Benefits Statistics

    1. Businesses using omnichannel communication platforms record over 250% purchase frequency compared to those using single channels, while the Average Order Value (AOV) is 13% for omnichannel more than single channels. 
    2. Data analyzed by Google indicates that omnichannel marketing strategies not only increase online conversions but also drive an 80% higher number of in-store visits.
    3. Companies that have adopted strong omnichannel marketing solutions retain up to 89% of their customers compared to their weak counterparts, who only manage 33%.
    4. 49% of customers aligned with omnichannel solutions purchase at least once every week from their favorite brands that offer them omnichannel experiences.
    5. 76% of marketers are capitalizing on omnichannel solutions to enhance their customer loyalty and less on acquisition.
    6. Businesses with SMS marketing campaigns pegged on omnichannel platforms increase their conversion rates by 50%.
    7. Poor customer experience is costing businesses 79% of their customers, but this can be avoided by leveraging omnichannel marketing solutions.
    8. 87% of retail business owners agree that deploying an omnichannel marketing strategy is integral in their success journey, even though only 8% have successfully implemented it.

    Omnichannel Growth Statistics

    1. According to Adobe Analytics, the number of orders customers placed online and collected in-store increased to 208% during the pandemic, and the trend is expected to remain post-pandemic.
    2. A study by Aberdeen Group found that businesses with strong omnichannel customer engagement record a 9.5% year-over-year growth in annual revenue, while those with weak solutions experience only 3.4%. Further, the former records a 7.5% year-over-year decrease in cost per contact while the latter sees only 0.2%.
    3. The omnichannel marketing industry is expected to grow at a Compounded Annual Growth Rate (CAGR) of 19.5% between 2021 and 2026, reaching $13.8 in valuation.
    4. Nearly 30% of people globally are expected to start using online channels to shop in 2022 going forward.
    5. Most businesses attribute limited access to data, improper marketing attribution, and customer privacy infringement as the top 3 informational challenges to omnichannel marketing growth.
    6. 32% of brands are focused on establishing pop-up and in-person experiences, and 31% say they will expand or establish their physical footprints, according to Forrester.

    Adapt to Today’s Omnichannel Marketing Ecosystem with iwinBACK

    Today’s omnichannel marketing landscape has evolved considerably, and is expected to grow even more in 2022 going forward. As evidenced, the biggest barrier to implementing omnichannel marketing solutions is inadequate resources and technical support. Fortunately, white-label omnichannel communication platforms like iwinBACK allow you to use ready-made tools without having to reinvent the wheel – cutting down the cost and need for technical know-how. 

    If you would like to chat more about launching an omnichannel marketing strategy and how iwinBACK can help you get started, reach out to us now.