Omnichannel vs. Hybrid Retail
What is Omnichannel exactly?
According to Wikipedia:
In other words, Omnichannel allows simultaneous access to the service or products over all channels. This implies letting customers search and find you across all platforms (WhatsApp, Website, Facebook, Instagram, brick-and-mortar store, etc.). At the same time, the information is consistent. For example, if the product is unavailable, it will be updated across all channels.
Allowing customers to purchase things from a website, Facebook, Instagram, and a physical store is an example of an Omnichannel experience.
However, omnichannel retail can also be a warehouse that sells its products entirely on online channels. Although customers can not get the physical experience of the product or service, It continues to be an omnichannel business operation.
Any warehouse can have a website and be omnichannel by syncing several exposure channels and displaying information from the same seller’s website and warehouse. At the same time, it can be a service provider that provides services omnichannel.
In summary, Omnichannel is a broad business strategy that enables businesses to provide public access to their products or services while maintaining a consistent experience across all channels.
So, What is Hybrid Retail?
Hybrid retail stores are physical stores with an online storefront from which visitors can purchase things from the actual location of the product (the physical storefront). Furthermore, shoppers can buy items from the shelves in-store by placing orders online and walking out of the store with the products in hand.
The essence of Hybrid retail is to provide customers with real-time access to the same products with the same stock level across both physical and digital channels. This means that the Hybrid store must synchronize in-store and online product information. In addition, it is considered doing Hybrid Retailing with one offline channel and one digital channel as long as the information on both channels is linked and you can purchase in one channel and receive items from the opposite channel.
In summary, Hybrid Retail is a distinct business strategy that allows physical store owners to provide broad access to their items while maintaining real-time access to information.
While Omnichannel can be entirely online, Hybrid Retail solely operates in real-time in mixed online and offline worlds.