Innotrac Corporation (NASDAQ:INOC) and eBay enterprise have teamed up to form a conglomerate called Radial that is poised to become the largest omnichannel commerce provider in the world.
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The partnership will allow the two firms to tackle one of the major problems that businesses are currently facing, which is the pressure to carry out omnichannel commerce and still maintain proper management and profitability.
Businesses are also under a lot of pressure to meet the ever-growing expectations of their customers. Radial is in an advantageous position given the long-term operational experience of the two companies; eBay Inc and Innotrac Corporation. Some of the companies that will benefit from the omnichannel solutions offered by Radial include GameStop, Destination XL, Shoe Carnival and DSW.
Omnichannel is not new to e-commerce, but it has become more attractive to retailers and brands.
In order to create a seamless shopping experience on all channels, merchants have to create infrastructure that facilitates orders from anywhere and payments have to be as secure as possible, with options offered to customers on how they wish to receive their goods. Forrester Research recently released a report stating that 49% of online retailers will spend anywhere from $500,000 to more than $20 million to satisfy customers through e-commerce industry.
Recent media and earnings reports have however stated that even the top retailers are having trouble delivering cost-effective and compelling omnichannel capabilities. The platform offered by Radial, therefore, provides retailers with a chance to come up with a leading eCommerce engagement while at the same time improving profitability, minimizing costs and removing complexities. Radial’s president Tobias Hartmann stated that most retailers have not evolved rapidly enough to keep up with the expectations and demands of their customers.