The moment of truth for Scandinavian omnichannel
The 2020 IMPACT Omnichannel Index is the biggest omnichannel analysis ever conducted in the Nordics.
We’ve analysed and benchmarked the 253 biggest Scandinavian brands and retailers. Danske Bank has investigated the economic performance. We’ve interviewed the best omnichannel performers and distilled our findings.
With Amazon’s entry, this is a do-or-die moment for Scandinavian companies. Are you ready?
The Omnichannel Index 2020 is presented in collaboration with
2020 Omnichannel Event
The 2020 Omnichannel Event – despite the challenges 2020 decided to throw our way – was a great success. Thank you to everyone who tuned in online and made the experience extraordinary.
You can watch or rewatch the talks from the event here.
We celebrated omni-savvy Scandinavian retailers and brands, took a deep dive into the Omnichannel Index findings, provided the latest economic forecasts from Danske Bank and showcased industry-leading speakers.
Congratulations to our three winners. Elgiganten (1), Matas (2), and Imerco (3).
What can you expect?
From quantitative benchmarking using on- and offline mystery shopping to in-depth interviews with the C-levels of the best performing companies, we have dissected Nordic omnichannel to its core.
Across 253 retailers in 10 industries we’ve looked at 51 digital and in-store touchpoints through 5 phases of the customer journey.
We’ll release the 8 omnichannel truths and additional findings on this website in the lead-up to the 2020 Omnichannel Index Event on 1 October!
Same-day delivery is still tomorrow
Delivery is a battleground where almost everybody is losing: fewer than 5% of Scandinavian retailers and brands offer same-day delivery. Yet with fast, flexible and free delivery rapidly emerging as must-haves in order to meet customer expectations, it’s time for brands to up their game.
The Elimination has started: ManAgement must react. NOW.
The 2020 benchmark show slim improvements from 2019 – but it is nowhere near good enough. Management are the ones who should take responsibility of adjusting to customers’ ever-growing expectations. Period.
Goodbye conversion rate: Product pages are heavily neglected
Our analysis shows that 88% of companies are failing when it comes to creating a convincing value proposition on their product pages. Almost 75% don’t show customer reviews and a fifth aren’t effectively upselling. These failings – and others – are keeping average order values and conversion rates unnecessarily low.
Loyalty programmes are worth gold. 42% don’t get that.
From retention initiatives to club programmes, many of the companies we analysed hugely underestimate the business value of loyalty. And when just a 5% increase in customer retention can increase profits by up to 95%, it’s an area more retailers and brands should be investigating in as a matter of urgency.
Click-and-collect is still not clicking
This one shocked us a little: 31% of the retailers and brands we analysed still don’t offer click-and-collect. It’s omnichannel in its purest form: convenience, higher sales, and bridging on- and offline… don’t you want people to visit your stores?!
Too many still lack basic omnichannel
Almost a third of retailers and brands still don’t offer click-and-collect. Only 65% have solid product data on the product page. And 37% do not show if a product is in stock in the local store.
All told, we found only 5% of retailers and brands have what we would describe as a noteworthy omnichannel set-up.
Denmark takes the Nordic crown
Of the 10 best omnichannel retailers and brands in Scandinavia, 8 are Danish. Great result for the Danes, but how did they do it?
Award show, industry-leading speakers, insights from top-performing companies, and even more omnichannel knowledge at our FREE, DIGITAL, LIVE celebration event on October 1 from 9.00 – 12.30.
Danske Bank has analysed all 10 industries
Danske Bank has over 5 million retail customers. They know a thing or two. They’ve seen, from an economic point of view, how the past years have been tough on the retail industry. Digitalization and fierce competition force retailers and brands to set new standards for the customer experience.
In the coming weeks, we will reveal Danske Bank’s findings on revenue growth and EBIT-margin in every of the 10 industries.
mystery shopping at 253 companies
We have acted as customers – from the first Google search to loyalty club memberships. We even sent mystery shoppers in all 253 physical stores.
Because omnichannel is about seamless experiences. So do they ask the right questions in the stores? Can they see what’s in stock in other stores? Do they connect the physical you to the digital you?