The last thing retail businesses should strive to do is fit in with the crowd. Instead, they need to go the extra mile to identify the unique selling proposition that gives customers a compelling reason to go to their store over the competition. Econsultancy found that 22 percent of companies consider the customer experience to be one of the biggest differentiator opportunities, especially when customers who have a good experience with a company are three times as likely to post positive messages about the brand on social media. So how can a retail store set itself apart from the rest?
Attracting customers in-store is not as easy as it used to be. Digital Marketing Magazine reports that the average customer footfall has dropped by almost 2.5 percent outside of the busy holiday season. Leveraging mobile technology is a retail trend that allows a store to control and improve the customer experience. About 90 percent of customers use smartphones while they are inside a store. While retail store owners may assume they are showcasing products, MarketingLand found that a full 73 percent of customers research products before making their purchases in-store.
A retail POS system makes it easy to expand customer-centric initiatives such as an app-based loyalty program, customizable eReceipts, and customized product information and recommendations. In-store customers want the personal experience that comes from interacting with a knowledgeable sales associate who can provide personal recommendations. Although they try, online and mobile shopping simply can’t emulate this experience, but even retail stores don’t always have enough personnel on hand to guarantee one-on-one attention. What the store can do, however, is leverage their retail technology infrastructure to provide additional customer experience improvements.
A modern retail POS helps the retail store owner with back office tasks to help the store run more smoothly. One particularly useful feature of modern POS systems is retail inventory management. This feature provides real-time inventory tracking, so the store manager knows exactly what’s in stock, what’s selling fast and what’s a top-selling product across all stores. The inventory management data can also feed into the mobile website or app, allowing customers to see if items are in stock.
While many retail stores know they need to draw attention away from competitors and eCommerce stores, they need a unique selling proposition to stand out from the crowd. Leveraging modern retail technology and its features that benefit the customer experience allow the retail store to provide exactly what the customer wants.