Selling More with Less – The Age of Smart Retailing is here

Over the last decade or so ecommerce has boomed like never before. Technological developments on the ecommerce business’ side and internet penetration on the customer’s side has enabled this industry to grow fast – real fast. Moreover, the industry has been evolving constantly, losing no time in adopting the latest technology – be it on the customer experience front, pricing algorithms to offer the best rates, or determine cost effective promotional methods etc.

On the other hand, such transformation has been extremely low on the Brick and Mortar side, even though retail technology has provided ground breaking ways to transform traditional offline selling. For example, brands like Nordstorm used mobile POS systems and Tesco had a touchscreen kiosks for stock checking and ordering in store – and all this back in 2012.

It’s 2018 now, and we still are talking about the offline world competing poorly with the online world and how it can be more digitized. Sigh!

Well listen up retailers, the age of smart retailing is here! You have a plethora of ways to up your offline stores’ performance. And no, you do not have to do or invest much. I am going to give you 5 ways you can get so much more sales from your stores, without having to do so much as add one additional item to your shelf space.

Here’s how.

Go Mobile – Like for real

The world is full of it. Mobile devices I mean. Tablets, ‘phablets’, iPads, kiosks, touchscreen monitors, and the whole lot. Why not actually use them to enhance your in-store experience. A very good example of this is the Apple iStore. They have truly revolutionized the way billing and on floor customer support is done. By providing your store staff with a simple mobile device to help customers do simple things like check out and pay faster without queuing, you are bringing the in-store experience at par with the online one.

Open Up Your Inventory

Another very important use of these devices is to open up virtual shelf space. Given the limited space in offline stores, retailers have always struggled while choosing which products make the cut of actually staying on the shelf and for how long. With digital technology at your fingertips, you can now extend your inventory by enabling the store staff to browse through additional varieties of the products on a simple tablet. This way, they get to not only give the customers exactly what they came for, but also offer any additional products that may not be present in the store at the time, but is there in your warehouse.

Thrive in the Easyverse™

The world may change completely, the sun may rise from the west and Trump may actually learn the word “sorry”, but even then, your customer will still be the king! We at Capillary believe that we are living in an “Easyverse™ today, where customers expect everything to be easy, connected and personalized. Therefore, providing them choices at every stage like whether they want their products to be delivered at their homes or be available for pick up at another store is a no brainer these days. Simple and easy way to delight, right?

Logistics is a breeze

Yea, my last point may have raised the obvious logistics questions. But technology has also made moving of products between warehouses, stores and customers’ homes a breeze. With just an app, you can now easily arrange for the chosen products to be picked up at a fixed time and dropped at a specified location – be it a store or home. Algorithms available today also help in mapping the closest point from where pickup can be done, reducing your cost and the time of delivery. Didn’t I say smart retailing is here?

Empowering Your Store Staff

The best way to make most of your stores, is to ensure your lifeline, your store staff have all the information they need to convert that sale. Having to go back to the POS and coming back to the customer for every single thing like checking member details, item price, stock availability etc. is not a good experience – not for your staff, nor for the customer. Having mobile devices that enable them to attend the customer with all the information required present in the device will truly enhance the customer’s delight and also motivate the store staff to perform better. Another worthwhile investment would be a people counter that can provide you with accurate insights around store traffic and visitor trends.

Remember, you don’t have to go all in or do expensive gestures to show your customers you care. You can flourish in the Easyverse™ by making small tweaks to your current store and taking a customer centric approach to retailing.

Share how you have been transforming your stores and learn how we can help you do it better. Reach out to an expert today.

People also ask  ⁝ 

1: What is smart retailing?
Smart retailing involves using advanced technologies like artificial intelligence (AI), Internet-of-Things (IoT), and data analytics to enhance the shopping experience, streamline operations, and personalize customer interactions.

2: How can smart retailing improve customer experiences?
Smart retailing can improve customer experiences by providing personalized recommendations, enabling seamless omnichannel shopping, and offering real-time assistance through AI-powered tools.

3: What technologies are driving the age of smart retailing?
Technologies driving the age of smart retailing include artificial intelligence, the Internet of Things (IoT), big data analytics, and augmented reality (AR).

4: How can retailers implement smart retailing strategies?
Retailers can implement smart retailing strategies by investing in technology, training their staff, and focusing on data-driven decision-making to enhance customer experiences and operational efficiency.

5: What are the benefits of smart retailing for businesses?
Benefits of smart retailing for businesses include increased sales, improved customer loyalty, better inventory management, and enhanced overall efficiency.

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Marketing Manager, SEA at Capillary Technologies, Azmeen handles lead generation, content marketing and PR for the entire SEA region. She has also had extensive experience in helping brands such as Tunglok Group, Pizza Hut and KFC get consumer ready by implementing tech forward consumer experience and consumer relationship initiatives.