What does O+O mean in Business?

Offline plus Online / O plus O

O+O (Offline plus Online) is the new standard for retail. It describes how customers shop today. The customer journey almost always involves offline plus online. The traditional strategy of O2O (online to offline or offline to online) from the past generation drove customers from one channel to another, however O+O is totally different. It is more about creating an integrated experience to better serve customers’ needs, that enables them to shop across any channel, anytime, anywhere. There is no cannibalisation in customers' spending in physical stores. In fact, O+O customer spends 3 times what an instore-only customer shops with us. It's about creating bigger share of wallet and higher customer lifetime value. The new O+O standard is not about having physical stores and also an online store. It’s an ecosystem that is powered by technology, big data and artificial intelligence. Just as important, it’s an organisation cultural change when it comes to managing the business and prioritisation. O+O application is not bound to retailers only, technology companies are often an important part of O+O ecosystem, forming partnership to make retail experience even more efficient. For example, Grab partners with Watsons to reach more customers to provide express last-mile delivery, at the same time attracting traffic to its platform. https://www.aswatson.com/our-company/o-and-o-strategy

Business