Online to Offline business model is a major determinant in saving many retail stores during the COVID-19 pandemic. Along with the trend toward digital transformation, many Magento retail stores have paid more attention to developing and streamlining omnichannel retail business. Yet, successfully applying the O2O model poses various challenges. And by providing various helpful extensions, Magento has greatly facilitated retail store build on this platform. In this article, we would like to discuss further how Magento supports O2O retail.
Inventory management is always a key factor in every retail business process including O2O. When building retail stores on Magento, businesses are provided with numerous tools to manage product inventory. Regardless of how many store or warehouse locations are operating, Magento retailers are able to maintain appropriate quantities of products to effectively fulfil orders.
Besides, Magento retailers can closely track stock levels across every sales channel from a centralized screen. In fact, Magento has developed many other inventory features with the purpose of growing its retailers from managing one single warehouse to a more complicated sales business.
A bundle is a customizable package of different products. This is a cost-effective program used to attract and encourage more purchases. With Magento, retailers can create fixed bundles of products for different purposes such as turning leftovers or slow-moving products into revenue. In practice, when shopping in Magento stores, customers can add or configure products in a bundle to build their own products for specific purposes.
Magento offers retail business two types or price rules for creating promotion programs which are Catalog Price Rules and Cart Price Rules. Catalog Price Rules enable retail owners to apply discounts on particular products or product categories. Cart Price Rules are used to apply discount programs on customer’s shopping carts.
As you may know, promotion is a helpful method that can help businesses to increase customer traffic and sales orders. With Magento, retailers can create promotions for both online and offline stores.
Magento supports O2O retail businesses with quotation management by enabling them to create accurate adjusted pricing offers for particular customers. Retailers can customize quotations based on customers’ type, business size, etc in order to fulfil every requirement. Hence, thanks to a personalized customer experience from the beginning, it is much easier for businesses to sell more and grow faster.
Modern businesses must consider adopting the O2O model in their long-term growth strategies. And remember that you can always ask for help from Magento and its extensions. Our ConnectPOS is also an inventory management extension trusted by more than 1,000 Magento retailers. If you are looking for a solution to develop your O2O business, don’t hesitate to contact us!