Why In-Store Technologies Hold the Key to Survival
Change is the name of the game for fast-fashion retailers as they thrive in an ever-changing world of fashion and preferences. These retailers are constantly challenged to maintain high product turnover rates and to cater to their customers in a highly saturated market.
These preferences have taken on a whole new meaning as consumers come back to retail stores post-pandemic to experience the sensual pleasure of look and feel. Besides, the physical shopping experience is often seen as a form of entertainment that provides a sense of gratification for shoppers.
As consumers head back to stores, shop owners have to adapt their businesses to meet the health concerns, without compromising on the shopping experience. Given this scenario, it’s no doubt that in-store technologies and mobile solutions are the way forward as these retailers strive to maintain leverage their inventory with their customers. Below are some ways by which these technologies are powering fast-fashion retailers.
Imagine a customer walks in, finds an empty shelf, and asks one of the sales associates about the availability of the desired product. How convenient and professional it would be if the sales associate could quickly check on a mobile device and give the accurate product detail and stock availability in other stores? Imagine how the customer experience and the customer loyalty would go up if that customer could still purchase the product right there and have it shipped home, even if the product she’s looking for is not available at that very store, at that very moment.
This also helps the sales associate since there is greater confidence and certainty in communication, and the business benefits as a whole with better control and flexibility over inventory with more motivated sales associates, and of course more satisfied customers. A win-win situation for everyone involved…
Such experiences and such flexibility can only be possible with the right solution that will approach the inventory from a holistic point of view. ERP approach to the inventory, displaying only limited attributes is simply not enough to provide the ultimate omnichannel experience in the store. A detailed catalog combined with deep inventory info will bring an enormous shift to the in-store experience.
One of the biggest problems of shopping is the long checkout lines. These are annoying for customers, put enormous pressure on store associates, and create an overall bad experience. In fact, research shows that long checkout lines cost retailers about $37 billion in potential sales each year.
A better option would be to use mobile checkouts and automated kiosks that would make the checkout process easy and convenient for customers so that they keep coming back to the store for more purchases. With reduced hours and the latest concern for space among shoppers, cash lines have become a more severe problem for retailers. The ability to complete check-out without lining up in front of a register is a must-have rather than a nice-to-have these days.
Another important asset to have in-store is capturing and accessing customer information. predicting customer behavior can be a game-changer as it allows retailers to stay ahead of the curve. Providing shoppers customized offers can be powered by AI and complex algorithms that leverage the power of mobile and cloud technologies that can analyze a customer’s demographics, preferences as well as past behavior and predict their expectations.
Fast fashion retailers face a unique set of issues when it comes to managing operational processes manually. The complex process starts with accepting an order and after that, there are multiple phases to pass some of which are manual and inefficient until the product is received by the customer. And if in order to fulfill the order, there are returns and exchanges or product transfers involved, the process can be even more complex and manpower-consuming. Yet, efficiency and speed are a matter of extreme importance in the “new normal” environment. Unavailable stocks or delays in delivery and returns will cause problems both for the operation and customer experience. Stores should have a platform that can support and automatize their operational processes while providing real-time data to accept the order as soon as the request is in its place and balance the inventory in real-time to manage the stock availability.
Shopi’s cloud-based in-store solutions are the best fit for such conditions that cause both operational inefficiencies and dissatisfied customers. A convenient shopping experience is only possible when you are able to provide a good service from the first minute they come to your store. As the direct contact to your customers are store associates, Shopi’s Assist turns your associates into knowledgeable guides that meet any answer your customers’ need from product information to stock availability in seconds. It also provides a cashier-free checkout process anywhere in the store as long lines are always a pain in the neck that affects the brand’s presence and customer experience. For customers who’d like to experience self-shopping are allowed to search for the product that they’ll purchase and complete the checkout without needing any guidance thanks to Shopi’s self checkout solutions. In-store and warehouse operations can be handled by Shopi’s operation solutions. If you are willing to have the most accurate data regarding your operation, from product information to inventory availability and you also want to build customer loyalty by noticing your customer’s needs, contact us now and never miss a sales opportunity in your stores.