Improving Retail Store Operations & Decreasing Expenses

November 24, 2017 0 Comments

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Some retailers have integrated store associate apps to manage operational tasks such as store auditing, printing labels, and gathering Pick, Pack and Ship or BOPIS orders. Store Operations has achieved healthy ROI, improved their efficiency across the board, as well as seen a significant cost savings and better overall customer service. Whether it’s customer location inside the store or items selected for purchase, stores can use this new data stream to improve customer service among their associates, as well as for merchandising and store planning decisions. Retailers can make better strategic decisions about where to place merchandise and in-store marketing materials from the insights they gain. Location-based solutions provide retailers with this powerful ability to increase touch points by delivering messaging and services from brands based on a customer's location in the store. Making digital store maps available can increase the chance of purchase and significantly increase basket size for smartphone-enabled shoppers. Indoor mapping initiatives and other IoT implementations are becoming more affordable and accessible. Much of the technology can be integrated directly into the infrastructure of a brick-and-mortar store. Customers benefit by using mobile apps and opting in to shared-data environments that make the shopping experience more efficient and enjoyable.

As retailers are becoming increasingly omnichannel with the growth of ecommerce and mobile shopping, they need to synchronize and optimize their supply chain and inventory to better respond to customer demands in real-time. Generally speaking, better supply chain allows for better theft control, financial management, customer service, and product tracking. Supply chain automation can help salespeople better respond to customer questions and improve, as 73% of consumers use multiple channels when shopping. This can help brick-and-mortar stores better compete with online only stores. Better technology can also be used to track which products are popular and which are not.

Retailers watch customers leave their stores without making a purchase every day. For most of these companies, these empty-handed departures are missed opportunities that aren’t likely to be reclaimed. Retailers should be using location solutions to obtain unprecedented insights into shopper behavior, store performance and merchandising strategy. This allows them to deliver better in-store experiences by optimizing forecasting and execution while they reduce their cost of operations. Retailers that have access to real-time data streams get system-wide visibility they need to operate efficiently in the digital age and deliver engaging and successful in-store experiences. Retailers are in the middle of a heavy transformation period, and the role of location data continues to grow.

Interested in learning how to improve the in-store experience and store operations efficiency? Download Point Inside's Practical Guide today! Or stop by our website for more information.

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Nichole Clementi

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