Globalization has caused changes in how nations, people, and especially businesses interact. A tremendous unconstant shift is happening in the retail market, resulting in the formation of smart retail. Companies, because of technology, are turning digital, automated, and interconnected.
To understand this evolving marketing landscape, here’s how SMART retailing caused development and impacts in the industry.
Shopper Services
The use of data from technology, especially point-of-sale (POS) systems, enables retailers to offer rewards and discounts to new and repeat buyers. Also, this data can be the basis for nurturing and personalizing shopping experiences, attracting them to purchase again.
Mobile wallets
Traditional forms of payment through cashiers and queues will slowly diminish through mobile payments based on artificial intelligence (AI). Customers can pay through their phones and, in some instances, can be charged automatically once they leave the establishments.
Applications
This digital era has caused people to be glued to their smartphones. Along with this, applications on phones, such as social media, are an effective platform for the virtual presentation of products. This grows brand awareness and ease in selling products as buyers can make a purchase directly from your posts.
Reduce Tasks
Automation and AI will speed up redundant tasks, such as inventory management. It will be easier to determine the products in demand and mark down overstock items through sales promotions. With this, retailers can focus on more critical tasks like customer care.
Transparency
With smart retail, data can transparently exist across the supply chain. The readily available information makes it easier to note trends, create calculated decisions and identify inaccuracies before they cause more significant problems.
Indeed, SMART retailing transform the business landscape.
As a retailer, you must take a step ahead of these changes and embrace smart retail technologies to gain a competitive advantage in the market.
Start your smart retailing journey with Retail Smart Guys, who are equipped with all these technological advances.
We offer data pull and reports consolidation services so you can optimize your data from Shopify regarding your products, inventory, and sales report. This helps you save more time rather than collating data manually.
Also, to boost your online engagements, the social media content creation of RSG fosters a good relationship and connection with your customers. Media investments in your products will definitely attain remarkable results.
Apart from this, as a starting retail business, RSG can help figure out technologies that best apply to your business as you enter smart retailing. Technology should serve your business; if it isn’t, we can assess your technology and help you develop a plan to use it to your advantage.
Never be left behind with business trends.
Confidently embark on smart retailing with Retail Smart Guys services.
“This is why we created a Services Division – to help retailers farm out those things that are keeping them from analyzing their business. Further, we priced it very inexpensively so that everyone could afford these services. We believe by doing this, we can help tons of retailers improve their sales, their margins, their inventory flow, and their market share.
Here’s a story that illustrates what I’m talking about. I called up one of my retailers, and I said, “You seem awfully underbought over the next few months. Why aren’t you placing orders?” He told me he was “working on stuff” and would get to it. I pressed him for a minute, and he finally admitted that he was working on bank reconciliations. I said, “Well, if you don’t write some purchase orders and get more inventory, next month’s bank reconciliation will take a lot less time!” Our Services Division took over his bank recs, and some other things. He got inventory in, and he’s seeing sales increases unlike anything he’s seen before in 20 years of the business.” – Dan Jablons of Retail Smart Guys
Don’t let the administrative tasks in your life, rule your life. Farm them out to people who do them well, so that you can be the great merchant that you want to be!
We hope you find all of this helpful as you chart your course ahead. We also hope that you’ll let us help you plan your inventory, work out your marketing, assist with any staffing issues, and generally be of service to you in any way we can!
Please contact me at the number or email above to learn more and be sure to mention that you heard about these helpful services from Board Retailers Association as a portion of the revenues will go back to BRA to help with the development of new educational opportunities and retailer resources.
– Dan Jablons, Retail Smart Guys – www.retailsmartguys.com
If you are not yet a BRA Retail Member, you can easily opt in to either Regular (no cost) or Distinguished ($100/yr.) Membership via this super simple join form