New year, new goals for your business … new point-of-sale (POS) system? If you’re considering implementing retail technology solutions, you may be wondering if it’s the right choice for you and your employees. Is it worth the cost? Will it make a difference in day-to-day operations?
By looking at four challenges most retailers face, you’ll discover many ways that implementing a new POS system can help you do business better.
1. Rewarding loyalty from existing customers while continuing to attract new buyers
It’s a delicate balancing act when it comes to maintaining your customer base: you need to continue to respond to what current shoppers want, while also coming up with new opportunities that may bring in additional buyers. Your POS system can help you strengthen and enhance your loyalty program, both in-store and online. Whether at a central POS or using a mobile checkout device, employees will be able to instantly pull up previous customer purchases, view accumulated loyalty points or dollars, and make recommendations for related products.
2. Staying nimble in times of rapid industry change
If the past few years of shifting markets have taught retailers anything, it’s that adaptability is the key to long-term success. As shoppers shifted from in-store buying to online buying and then to a mix of both, those retailers who were most responsive to consumer behaviors (and the market at large) came out ahead. The right POS system can help provide more flexibility, reduce costs, and help you make data-driven decisions about growth, change, and inventory focus with each new season.
3. Increasing employee productivity and efficiency
Your employees are valuable resources, often acting as ambassadors for your business to new customers. At a time when labor shortages continue to be part of the retail landscape, it’s important to provide a streamlined, well-run workplace. Implementing a POS system can reduce the chunk of the day your employees use for repetitive back-office tasks like scheduling, price changes, and automated orders. Instead, they can spend their time answering customer questions, making purchase recommendations, and helping buyers check out anywhere using a mobile POS.
4. Remaining competitive in a landscape of big-box stores
The big-box chains are visible, and their names and claims are known. But ubiquity doesn’t always equal usability—independent stores can help provide a welcoming, local experience without sacrificing value and efficiency. Implementing a POS system can help you achieve this goal: you’ll have access to inventory needs across all of your locations (if you own more than one store), be able to use past shopping patterns to predict seasonal trends specific to your area, and have the ability to adjust pricing to meet shoppers’ changing needs. Unlike giant chain stores, you can use retail technology to put your neighborhood customers at the forefront of what you do, what you sell, and how you sell it.
At Epicor, we’ve been helping independent retailers streamline operations and boost profits for over 50 years. Our solutions empower you to do more, be more, and sell more, redefining the future of retail.
