Trekking through the retail industry is a daunting path to embark on – which is why equipping yourself with handy hacks is essential. According to June Alcarioto, Director of Retail Solutions and Analytics of Genie Technologies, Inc. (GenieTech), retailers should take advantage of the digital tools that are now becoming more available for them.
To help businesses thrive in the digital shift, Alcarioto listed five hacks retailers may find handy in boosting their operations.
1. Prioritize customer experience
Valuing your customers is key to any retail business. Personalize their experience by recording their purchase history, returns, and orders. Track their data such as size, color preferences, and important dates to assist them better. Lastly, install a system that allows quick price checks and stock inquiries to reduce waiting and transaction time. Prioritizing a customer’s satisfaction will keep them coming back.
2. Keep operations efficient
Designing workflows that match your business process will help things run smoothly. Track employees’ productivity and their access to data. Set up security for each group of employees to manage who can access specific information. Accurately distribute commissions between multiple employees per sale through commission tracking. Keeping employees satisfied is crucial for efficient and productive operations.
3. Make sure your system is understandable
Easily taught systems will lessen confusion and mistakes. Tailor your installed system to benefit both your customers and employees. This will allow transactions between retailers and customers easier and turnovers between employees smoother. Practice this for both basic sales and special orders that you don’t typically carry.
4. Connect everything and anything
Installing a system that connects different aspects of your business is vital. Combine your corporate-owned stores, franchises, store-in-store, kiosks, or online stores to your enterprise in a single, integrated system. This will help you sell goods, share information, accept different currencies, and operate with companies despite different languages.
5. Integrate all business operations in a POS system
Nowadays, a Point of Sales (POS) system becomes the answer to your worries, especially streamlining business processes. This system is a combination of POS hardware and software that processes transactions and payments between retailer and customer. It can also monitor your inventory, price adjustments, staff management, sales reporting, marketing initiates, and much more–depending on the type of POS system installed.