Learn how to – 5 top ways to use technology for your retail business

Learn how to – 5 top ways to use technology for your retail business.

There is no denying that online retail is all the hype these days, especially with Alibaba and Amazon changing the face of e-commerce. However, this does not mean digital commerce has completely beaten out retail. 

It has been predicted that the total goods purchased in 2022 from brick-and-mortar stores will amount to 83% of the total products sold globally. Gen Z and millennials are not only taking e-commerce by storm but allowing physical stores to make a comeback. 

Therefore, it is up to you to update your in-store technology and provide the ultimate shopping experience to all your customers. Below are a couple of technologies you can use to boost your brick-and-mortar sales.

1. Set up mobile POS

While point-of-sale (POS) systems are nothing new, the adaptation and growth of mobile POS are expected to continue within the retail environment. It is beneficial to improve customer experience as they check out and reduce the time you may have also spent standing in long lines. 

You can ensure that your sales associates are processing transactions at a quick pace as customers stand in line. It will enable them to facilitate speedy and convenient check-outs. 

Gone are the days when bulky registers had to be used to process payments. You can just put a mobile POS system anywhere in your store, and you will be good.

2. Implement cloud-based ERP

The buying habits and preferences of consumers are constantly changing and evolving. There is a need for greater data and analysis to develop an effective retail strategy for modern times. You also need to have a better and deeper understanding of your customers’ behavior. 

Consequently, this includes efficient inventory management, especially for retail businesses wanting to thrive in this world. It impacts what customers see in the stores and makes a difference in how you report your earnings.

Remember, a higher amount of inventory leads to increased markdown costs. Moreover, you have to advertise at a higher price, which could affect your profit margins. It is where an enterprise resource planning (ERP) system comes up, especially a cloud-based one. 

It helps you record the inventory of your business and compare it to purchase orders, financial data, and billing schedules. As a result, accurate and updated data is available at your fingertips, leaving you to make important decisions. 

3. Use email marketing tools

An email marketing campaign is a wonderful way to personalize your brand and reach out to potential customers. Keep in mind that no one will want to read a general email sent to many people. 

Therefore, numerous tools to help you segment your target market and send them all personalized content. For this purpose, you can use PosterMyWall to create a retail flyer or retail sale poster and send it out to customers with particular preferences. 

Take a look at the templates below. You can make some changes and save time and money spent designing a completely new poster. 

4. Bring in augmented reality

Both real and virtual worlds can coexist harmoniously, allowing augmented reality (AR) to offer virtual information. It can provide you with assistance in all your activities throughout the day. If you have a brick-and-mortar store, you can use AR to offer all your consumers an interactive consumer experience. 

This move will surely win you bonus points because a survey has revealed that more than 60% of customers tend to lean towards stores that ensure an AR experience. It could also help you drive impulse purchases, as customers will be able to envision the item they want to buy.

5. Allow automatic purchases

For most retailers, it would make sense to automate the buying process, making decisions easier for shoppers. An excellent example of this would be merchants who take a liking to subscription-based business models. If you sell consumable goods, such as toilet paper and razors, you can choose to automate the entire process.

It will help your customers reduce time spent in lines and reduce friction. If you can make their life easier, they are bound to keep coming back for more. Most companies are coming up with ways to connect to the Internet of Things (IoT), and you can too!

Nowadays, almost everyone is selling something, meaning that retailers must work day and night to ensure that they are differentiated from the rest. It is no longer as easy as winning on proximity and price. Thus, it is up to you as a retailer to use technology to create meaningful and new ways for customers to interact with your business.