It’s peak shopping season. A loyal customer logs into your online store, hoping to buy a product they’ve been eyeing for weeks. They’d seen it at your store earlier but wanted to do some research before committing. Now is the perfect time, and they’re ready to purchase. They add to the cart and hit checkout. And then, disappointment strikes with an “out of stock” message. Not only does the sale […]
We live in highly competitive retail times. Retailers are investing heavily in lead generation, paying an average of $34 for a retail lead. Yet, this isn’t translating into revenues as expected. Research suggests that the average conversion rate for a retail lead is as low as 3%. Understanding the why is essential to ensure this isn’t the reality for your retail business. Here’s the fact: Consumers today are bombarded with […]
Efficiency in warehouse and inventory management operations can make or break your retail business. However, research suggests that most retailers do not get the best of it. According to data, US-based retailers sit on approximately $1.43 in inventory for each $1 of sales. This overstocking translates into issues like capital blockages, increased costs for managing and keeping additional inventory, and the risk of shrinkage due to product expiry. In addition, […]
Given how competitive the retail world has become post-pandemic, the current times demand leveraging every possible advantage point to establish business competitiveness. This applies to both brick-and-mortar shops and eCommerce websites. Implementing a feature-rich ERP software tailored for retail steps here as a transformative tool for retailers looking to grow. A retail-business-oriented ERP helps to streamline different retailing business processes and unify data and various functions across retail stores. It […]
Today’s retail landscape is evolving rapidly and has turned massively competitive. One way for retailers to remain relevant and profitable is by optimizing the customer’s in-store shopping experience. Smooth checkouts are integral to experiential retail, and 90 percent of shoppers say a smooth checkout process significantly impacts their shopping experience. While cashier-staffed checkouts have been the traditional norm, there’s been a recent rise in the use of technology to facilitate […]
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