The retail environment is becoming ever more complex and challenging, and success is no longer just about how hard you work. In fact, with the digital age well and truly upon us, the question these days, for retail businesses, has become: how smart do you work? How can you work smarter to ensure consumer retention and meet the diverse needs of your customers? We have a few tips.
Make the technology work hard while you work smarter
Life is complicated enough, but by using connected Point of Sale (POS) devices in store, you can connect not just the processes but also the information and people across your business. Customers use a variety of methods to shop and choose where to spend their money, they are digitally informed, mobile and socially aware, and retailers need to be able to provide their staff with the right tools in order to support these Millennium consumers.
Gone are the days of the manual stock take and pricing. These days, POS systems can be used to process statements, reports, view sales figures, track levels of stock and adjust prices, all at a touch of a button. Barcodes and electronic pricing has meant that fewer mistakes are made, from ordering and receiving stock to getting it out on the sales floor or distribution centre so that it can be sent out to the customer.
Prices remain consistent, which, when you have more than one outlet, is a relief compared to the nightmare of trying to manage this manually. Shrinkage levels are reduced so that profit margins increase. Plus the less time spent by staff chasing up sales reports or counting stock means more time in front of the customer.
Measuring staff performance
Using POS systems means managers can easily track the sales performance of their staff, and this can be used to set up sales targets and accurately measure any commission. Promotions or cross selling in order to promote particular goods or older stock can be achieved by introducing staff commission.
Staff can also use tablet POS systems to check stock levels while still dealing with customers, which minimises time away from the sales floor. You can keep training time to a minimum by choosing a POS system that you find easy to use. This is good news as salary costs are usually the highest outgoing of most businesses.
Up to date information at your fingertips
New or promotional goods or services can be highlighted on mobile POS systems so that the consumer receives a better level of service. Staff can even use these as mobile ordering or payment devices to keep customer queues at bay. Faster transactions mean faster throughput of customers, so that a retailer can drive up growth and sales.
Personnel time is freed up as staff can track down items held in the central warehouse or at a different store, and arrange for the consumer to pick up that item or have it delivered. Also, a number of alerts can be posted if there is a problem with theft or if a delivery is going to be delayed so that the customer can be informed immediately.
Finally, you can use an online system to automatically reorder stock. Purchase orders can be created very easily for either single or multiple orders, and as the retailer you can track the item from date of order to date received.
When it comes to working smarter, few things will help your retail business to achieve that as easily and effectively as a POS system, especially a mobile one. Consider investing in one today and be amazed by the difference it will make to your daily operations. We promise you won’t regret it.
Are you running a retail business? Abacus offers a comprehensive retail POS solution. Find out how Abacus POS can change the way you run your business and improve your operations by contacting us today!