The journey from a small business with a single user to a giant market leader takes a great deal of time and consistent effort. But, the Amazons and Walmarts of the retail industry are reminders that it’s possible. In 2019, the global retail industry generated over 20 trillion dollars. With an increasing appetite for new customers, experts predict the industry to cross 25 trillion in revenue by 2022. If you want to make your retail store better but aren’t sure where to start, here are some tips.
Showcase With Style
Shoppers don’t only buy products, but the entire experience that comes with them. Whether you sell art equipment or womens tops, how you showcase them can make or break a sale. And this applies to all retailers, including those in an offline mode.
Creating an intuitive platform to enhance customer display comes easier for online retailers. You can give complete details like the select colors available, sleeve size, complementary accessories, and more. Some e-commerce platforms may even go further to provide a backstory behind the stitches and hem of special offers. But brick-and-mortar retail shops aren’t left out.
Let’s say you have a physical clothing shop: design is everything. To upsell your products, you can feature a rack with a matchable selection of tops, pullovers, sweatshirts, and denim skirts. It makes it easier to match tops with other items.
Digitize and Automate Processes
Amazon has a current net worth of over 300 billion dollars. How did they do it? A constant effort of making complex tasks easier.
In 2021, if it takes your customers a couple of hours to make a payment, you have a long way to go. With an internet connection and a mobile device, they can find an alternative in just seconds. Finding the best digital resources to perform your functions efficiently can be a great way to hold your end of the retailing ship. You can also find automated tools that can bolster your workflow.
It can be as easy as making a quick “Pos software for free” Google query. Today, you can have an endless list of the best free POS software in only a matter of seconds. Some honorable options include Retail Software, Quickbooks, and the Loyverse POS app. But if you’re lost for choice, the following features can help you zero in on a perfect point of sale system software for your business.
- Inventory features to help you track inventory and enhance all other inventory management efforts.
- A free cash register that supports credit card payments and hard cash.
- A oint of sale solution to track sales and manage sales reports.
- An invoice- and receipt-maker.
Alternatively, you can opt for a proprietary POS system if you’re not satisfied with an open-source option.
Put Customers First
Customers grow over time, and value is the only fuel for this growth. A customer might stick with you forever just because you’ll always have her petite size. And that’s putting your customer first. Customer centricity doesn’t mean presenting a surprise gift for your most loyal customer.
Stick to the basics. Listen to customers at all times. You can generate all the insights you need to treat them right. It also pays to invest in CRM software and cloud contact centers, which helps manage free shipping issues, collects feedback, and ultimately fields a personalized customer experience.
Amazon began in a garage. It took about four years to expand beyond its core book business and an additional 10 years before building its headquarters. One of the hardest things to do as a retailer is to assess your growth without any bias. Sometimes, the sales volume might influence you to think all is done. But for all you know, you’re just benefiting from a general increase in sales.
It pays to have KPIs that adequately measure your growth and determine the suitable investments needed to unlock the next levels.