Summary
Highlights
SM's Omnichannel Strategy00:00:00
SM Store is a leader in omnichannel retail, focusing on a seamless fusion of online and offline channels to create a frictionless shopping experience. Their goal is to move away from siloed sales and create a system where all channels support each other. This involved transitioning from physical malls to launching Shop SM, a digital store, and integrating services like Viber, phone calls, and personal shoppers during the pandemic.
Key Omnichannel Touchpoints00:00:37
SM implements its omnichannel strategy by allowing customers to start their shopping journey on one device and finish it elsewhere. Key touchpoints include 70+ physical stores that serve as experiential hubs and fulfillment centers, the Shop SM web app for digital browsing and buying, and a 'call to deliver' hybrid service with personal shoppers. The SM Advantage Card (Smac) tracks customer points and preferences across all channels, while in-store kiosks with QR codes provide real-time inventory checks.
Metrics and Integration for Success00:01:25
To prove the effectiveness of its strategy, SM monitors data flow between touchpoints using several KPIs. These include the 'buy online, pick up in store' (BOPIS) rate, cross-channel retention linked via Smac, and order fulfillment speed utilizing stores as mini-warehouses for hyper-local fulfillment. They also rely on unified inventory accuracy, allowing customers to see real-time stock online for specific physical branches.
Evidence of True Omnichannel Maturity00:02:08
SM's success is evident in its distributed order management system (DMS), launched in 2023. This system provides a single view of inventory, meaning if an item is out of stock online, the system can locate it on a shelf in any SM branch and ship it directly to the customer. This demonstrates a high level of omnichannel maturity, as it prioritizes the sale regardless of the channel.
The Future of SM's Omnichannel Strategy00:02:42
Looking ahead, SM is developing a virtual mall ecosystem that will feature hyperpersonalization using AI and Smac data. This includes sending targeted coupons via the app to customers as they enter a physical store. They are also exploring social commerce, integrating live stream shopping where items mentioned in a video can be added to an SM card and delivered within hours.
Smac: The Core of SM's Omnichannel Proof00:03:06
SM's personalized omnichannel approach is substantiated by the integration of Smac. With over 15 million members using a single card for various purchases, SM gathers extensive data. This data ensures that their omnichannel strategy is not just a buzzword but translates into a truly personalized experience for their customers.