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How to Leverage the Latest Technology for Retail Store Management

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How to Leverage the Latest Technology for Retail Store Management

Brick-and-mortar stores have to work extra hard these days to keep up with competitors online. One way that they are making the shopping experience more enticing to consumers is by using technology to create a truly exceptional in-store experience. New technologies for retail store management can help with everything from mobile inventory tracking to receipts and customer loyalty programs. Here are some of the best ways that fashion stores are using technology to improve their sales.

New point of sale (POS) technologies are allowing retail stores to conduct business more efficiently than ever. These types of retail management software are a huge advancement from the traditional cash register – they can record data in digital format and can also include fully integrated accounting, inventory tracking and management, customer relationship management, operational reporting and more.

Mobile apps are making retail inventory management much easier than before. This means that you will have an easier time discussing orders with customers on the selling floor, attending meetings and trade shows, visiting suppliers and simply relieving yourself and your staff of questions that might be nagging you about available inventory.

Businesses today have a huge opportunity to improve customer loyalty with the use of technology. Loyalty is largely related to customers’ ability to relate to a brand and a business emotionally, as well as their perception of being recognized by a company. It isn’t just about reliability or convenience – it extends to a deeper, more fulfilling experience for the customer. The best and most sophisticated loyalty programs are set up to tap into the benefits of emotionally driven loyalty. These programs leverage technology to gather customer data and use it to find ways to provide the best perks and advantages to customers, including soffering them “insider” information or customized promotions based upon their buying habits, favorite brands and preferred items.

eReceipt technology is another component that enables retailers to easily collect email addresses to recruit customers for future loyalty programs, drive them to their online store and events, and engage them with relevant offers. An advanced POS system can add substantial value and provide a competitive edge. If a retailer decides to expand online they can also use POS technology to balance in-store and online inventory mix and further grow the business.




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