What does O+O mean in Business?

O+O

A retail standard first found in 2019, referring to the seamless integration of both in-store and digital experience in the purchase journey, powered by technologies of big data and artificial intelligence to maximise the reach of customers. It allows better customer connectivity and shopping experience, serving customers anywhere & anytime and facilitate more flexible fulfilment. As a result, O+O businesses benefit from high conversion rate from traffic into sales, thanks to the combined advantage of both physical store network and digital channels. O+O is different from O2O. The O+O integrated model has no cannibalisation to physical store spending of customers, rather it creates higher share of wallet and higher customer value. Simply, for customers who spend in O+O channels, their engagement and loyalty is much stronger, and their spending is much higher than customers who only shop in physical store.

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