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Benefits of an Omnichannel Retail Model
When it’s time for that much needed upgrade, consumers often weigh their options to trade-in their mobile device for cash back either online or in-store. While brick-and-mortar retail locations may provide better customer service and a more personalized experience, e-commerce allows consumers to complete their transactions faster and from the comfort of their own home.
To elevate the customer journey and disrupt the status quo, retailers must merge the digital and physical retail worlds together to deliver a seamless, multi-channel trade-in experience. An omnichannel device buyback solution not only increases customer satisfaction, but also increases spending power. A Harvard Business Review study revealed that 73 percent of consumers use multiple channels during their shopping journey, which increases retail spending in-store by four percent and retail spending online by 10 percent. As omni-channel shopping changes the future of retail, 56 percent of store locations will become hubs for omni-channel fulfillment by 2020.
With Phobio, customers have the flexibility to start their transaction in one channel and complete it in another. For example, a customer can begin their trade in-store, then go back home to back up their photos, music, and contacts, and finish the trade-in process online by either arranging a courier to pick up their device or dropping it in a mailbox. Phobio also allows customers to begin a trade-in online and then drop off their device in-person at their local retail store. This flexibility gives customers the peace of mind they need when parting with a mobile device they’ve grown attached to over the years.
In addition to trade-in versatility, Phobio also guarantees the most competitive and transparent device pricing in the industry. To put an end to device value disparity, Phobio provides a simple two-condition grading benchmark which classifies devices as either working or damaged. A monetary value is then provided to customers along with a detailed description and photo evidence explaining our assessment of the device. Finally, customers have the freedom to accept or reject our monetary offer – no strings attached.
As a channel-agnostic trade-in solution, Phobio enables retailers to offer exceptional service more efficiently. If you’re ready to join more than 4,500 retail locations that currently use Phobio to revolutionize the way consumers and businesses upgrade to the latest technology, contact us here.