If you’re like most retailers, you’re always looking for ways to increase revenue. Strategies like expanding your product assortment and doing more to promote your store can help, but they aren’t enough. Keeping your finger on the pulse of retail trends and finding ways to capitalize on them is a smart strategy, especially when you use your Point of Sale (POS) system.
Here are three retail trends with potential to increase revenues and some tips for how to use POS technology to make them work for your business.
Make shopping easy for on-demand — and demanding — customers
Today’s consumers want their purchases immediately and delivered in the most convenient way possible. Accommodate them by removing barriers that might force them to wait for their purchases. Provide a smooth end-to-end shopping experience. For example, make it easy for customers to use their computers or smartphones to start their shopping on one channel and finish it on another. One example is using your POS system to manage a “buy online, pickup in store” option. It’s important to make the in-store pickup process as smooth and convenient as possible, so consider equipping sales associates with mobile POS functionality to provide service, locate customers’ orders, and access information without having to ask shoppers to wait in line for assistance.
Embrace webrooming and showrooming
The prevalence of two retail trends — webrooming and showrooming — has grown in recent years. Customers who favor webrooming will research desired products online and then buy them at a store. To capture a webrooming shopper’s business, make sure inventory and product information is up to date on your website and in your store. Your POS system can help track and manage inventory from receiving to sales (and back onto the shelf, if returned), always providing a real-time view of what’s available.
With showrooming, on the other hand, consumers “preview” merchandise in stores, then search e-commerce sites for the best deal, sometimes right in the store using their smartphones. The more sales associates engage these customers, the more likely that your store — not an online competitor’s — will win the sale. Deploy tablet POS solutions to help sales associates find answers to customers’ questions about products, accept orders for out-of-stock items, and price match whenever possible.
Personalize in-store service
No discussion of retail trends would be complete without pointing out that shoppers have grown accustomed to personalized offers based on their online browsing and purchasing habits. You can emulate this online shopping experience in-store.
Your POS system is collecting data on your customers that you can use to send relevant, targeted offers via email or text. You can even send offers when the shopper’s smartphone is detected in or near your store to deliver an enticing offer at just the right moment. Leverage your POS system to provide sales associates with customer purchasing and browsing histories. Sales associates can then use this data as the basis of personalized suggestive selling efforts that can increase sales.
Retail trends will continue to evolve, so keep watching for ways to use them to your business’ advantage. Your POS system will be a valuable tool as you plan and execute new ways to provide the shopping experiences your customers are looking for.
To learn more about how your POS system can support the modern shopper’s journey, contact our knowledgeable team at Bematech.