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Working in retail is one topic which can bring fond memories from some, and trigger nightmares and sweaty palms from others. Whether you love it or hate it, working the shop floor in retail is essential in the success of a brick-and-mortar store. However, historically, it could be argued that retail staff talent has never really mattered. Or at least, it wasn’t considered important enough to invest in. The main rationale behind this was due to the relatively high staff turnover rates within the retail industry, which therefore meant that investing in staff training usually yielded a low return on investment.
Another basis for companies believing staff talent was interchangeable was due to customer views on their retail experience, and where their priorities lie. For example, in a study conducted in 1995, customers claimed that price, product range, product availability, and a stores return policy were the most important aspects when favouring one store over another. This highlights the fact that staff service was simply not a huge driver for winning customers, and therefore time and resources were invested away from employee development and into these other areas. So, what has changed since then?
The brick-and-mortar retailer has been at the forefront of a stream of negative news reports over the last few years. The rise of e-commerce was heralded as the ‘physical store killer’. However, the retail store has stayed strong, with high streets still bustling with customers and shopping centres a hub for consumer activity. This doesn’t mean that e-commerce hasn’t had an impact on the physical store, and in fact, in the UK, average retail footfall has been down consistently for the last 5 years (2016 down 2% compared to 2015), which highlights the change in consumer purchasing habits. But just how much does this actually matter to retailers? We’ll be delving into how store footfall may not be as important as you think.
In the modern retail landscape, successful businesses have a presence in both an offline and online form. The decrease in customer footfall in physical stores is an undeniable fact, which means that businesses have had to become more savvy. The key to success isn’t about how many people you can get through the door, but more about converting the people you can. This means that each individual customer is more important, and therefore customer expectations must be met in order to reach their higher-than-ever standards.
It is undeniable that technology and its role in the hospitality sector is growing. Booking a hotel online and checking in with a reference number emailed to you is now commonplace and yet 20 years ago would have been impossible.
Nowadays in the service industry, booking, point of sale, and review are regularly handled purely on, or with the assistance of technology. There are exciting developments on the horizon to integrate technology even further into the day to day activity of hotels, bars and restaurants.
The retail landscape has changed dramatically in recent times. The so-called ‘death of the high street’ and rapid advances in technology has created new obstacles, as well as creating new opportunities for retailers. It’s not all doom and gloom however, especially if you keep track of what the latest trends are, and more importantly, how you can use them to stay ahead of the game. Here’s a round-up of some of the key changes in retail, and how both customers and businesses have evolved and adapted.
An EPoS system is invaluable to your business, but that doesn’t mean that it should cost a fortune. For most businesses, a fully integrated, top-of-the-line, all-in-one system isn’t necessary. Especially when it is straight off the shelf with all the bells and whistles which will only ever gather dust. Too many small business owners make the mistake of accepting these expensive packages.
Because at the time it can seem like less hassle. The reality is, this couldn’t be further from the truth. EPoS systems shouldn’t be expensive or stressful. Here’s how to get yours the easy way on a shoe string budget.
With EPoS systems prevalent within retail, service and hospitality, businesses are aware of the obvious benefits they provide. Gone are the days of manual stock checks, inaccurate cash handling and slow, irritating checkout queues.
So is that it? Should we just move on and let our EPoS systems chug along silently until a new innovation takes our attention?
Put simply, no. These benefits, although vital for modern day organisations are only the tip of the iceberg. When it comes to utilising these systems to their maximum potential, there’s so much more to learn.
With advances in technology and retail, choosing the right EPoS system (Electronic Point of Sale) can seem like a minefield. Yes – it’s crucial you make the right decision, but starting with a few key pointers can take the headache out of the whole process. Here, Everything EPoS shares 5 key questions every retail business owner should ask.
Think of all of the functions that your EPoS system will need to carry out. Some features and services come as standard, like inventory, checkout process and relationship management. However, others are more niche or restricted to industry. Identify the components you currently have and what you could benefit further from. Is there something that could be improved or added that would improve the productivity and efficiency of your day to day running and strip back on your overheads?
Imagine a time when EPoS didn’t exist. Every retail outlet had to keep track of sales, stock and metrics with pen and paper. Now, from those self-service counters at the supermarket to the touch screen terminals at your local cafe, you would be hard pressed to go a day without it.
EPoS has changed the way we think about sales and yet most of us still don’t know what it is (an Electronic Point of Sale). This blog will help you understand the what, why and how of EPoS and explain what all businesses should consider before taking the electronic step.
Ready to move forward? Let’s get started.
At Everything EPoS we have added a Complete EPoS Solution to our product range which is suitable for both Hospitality and Retail Sectors. Installed with one of the UKs leading EPoS software ICRTouch Touch Point. We are so confident in ICRTouch TouchPoint EPoS Software as it’s one of the most reliable EPoS software of its kind on the market. The software developers ICRTouch have over 30 years experience in developing and supplying EPoS software and they have sold over 60,000 EPoS software licences.
The Complete EPoS Solution is on special offer until the end of January you can view the offer by clicking on the link below.