Author Archives: Monica Quinn

by Monica Quinn

Just-in-time inventory strategies help retailers stay competitive

 

 

Keeping “just enough” inventory on hand to cover demand is a strategy retailers can use to keep more of a company’s value in cash, increase its liquid assets and offer more access to investing options.

 

The JIT model across industries

 

Just-in-time (JIT) strategies have been popular in the auto and manufacturing industries since the 1970s, but today are gaining momentum in retail, as that segment increasingly embraces business automation.

The methodology is being considered as a method for improving retail profitability and operations.

Toyota many years ago made the JIT inventory system a mainstream model of efficiency.

Instead of ordering excess product, JIT managers focused on ordering just the amount of parts that were needed to get through a production cycle, thereby reducing the amount of “buffer” product.

Unused buffer is, ultimately, waste; in retail, that buffer is excess inventory.

 

JIT works better with better data

 
One tool retailers can use today that wasn’t available in the 70’s is data analytics.

The collection and analysis of big data makes it possible for any retailer to forecast demand reliably.

Every item sold can be tracked, as well as when it was sold, how many people walked by the store, how many of those came inside, how foot traffic changed when it rained, etc.

Although major big box retailers such as Best Buy and Target may be able to easily afford large quantities of inventory to fill their shelves, new and boutique retailers don’t have such large bankrolls.

They often are challenged to keep up with demand without spending a significant amount of cash on inventory.

A JIT strategy of supply-chain management provides flexibility, because the model is set up to minimize inventory on-hand and in storage.

That lets them order to meet demand, and not be stuck holding inventory that doesn’t sell if trend forecasts go sideways.

JIT retailers won’t be tying up capital in inventory, so they’ll have cash on-hand to invest in competitive endeavors or in other opportunities.

Tying up money in inventory means a retailer can’t react swiftly to a sudden consumer trend, because there’s no liquid capital available.

So retailers are forced to respond by quickly offloading their old excess inventory to make room for — and pay for — products that are in demand.

Compounding the situation, the stale stock is usually sold off at a steep markdown. JIT delivery of inventory frees up space in the warehouse and reduces “dead” inventory.

 

Shorter lead times

 

Shortening lead times with suppliers also creates a JIT atmosphere.

Waiting one week rather than three for shipments means a smaller inventory buffer is needed to cover spikes in demand.

By working with suppliers and vendors, retailers can shorten lead times, and gain more freedom to run a lean inventory system.

When retailers err on the side of ordering too little, the result is a poor selection — and experience — for customers.

Data is the backbone of inventory planning function and is vital to providing a good experience that entices customers to return.

 

by Monica Quinn

Bespoke is the new black

Luxury retail has always catered to the one-of-a-kind purchase: that piece of jewelry made expressly for her, that suit tailored just for him.

Today, that desire has filtered down to more everyday shopping.

Millennials are driving the bespoke movement — a trend that can differentiate retailers looking to stand out in customer service.

 

Super-charged customization

 

Bespoke is something made “just for you.”

It is the shirt made on Savile Row, from the material selected by the customer and personally tailored for the perfect fit.

It is “super-charged” customization.

Today, bespoke suits are still prized, but today’s workplace often has a casual style.

Millennials are leading the charge for a more dressed down look, while looking for clothing and accessories that allow them to stand apart from the crowd.

In addition, they are not expecting to pay luxe prices and are not as brand conscious as other generations, although they do consider brand “promise,” or what they consider the brand stands for.

For example, NikeID offers a relatively inexpensive way to customize pairs of sneakers online and has an agreeable brand promise to bring inspiration and innovation to every athlete/body in the world.

Levi’s also offers a bespoke experience to rival that of Saville Row.

Customers can choose from organic cottons, canvas and chino-cottons, as well as different weights of denim from 8 oz to 22 oz.

Shoppers can select rivets and special accommodations, such as removal of belt loops.

The bespoke service is available in the Champs Elysées Levi’s store in Paris, London, New York and San Francisco.

Being unique takes time, however; the wait time for jeans in London is roughly 14 weeks, including one fitting.

The price: Approximately $610 for the first pair, with every subsequent pair in the same style $550.

 

Revenue potential

 

Offering bespoke products is increasingly seen as a profitable means of brand extension for both affordable brands such as Nike and Levis, as well as luxury brands such as Gucci DIY and Burberry Bespoke.

Research by Deloitte in 2017 found that 71.4% of U.S. millennial consumers were ready to pay a premium to get a product in some way personalized to them, indicating a huge market potential.

Another benefit to retailers is the ability to learn what trends may be coming, based on the bespoke items being requested.

Discovering trends from these unique items can help provide market research for brands’ future offerings.

 

Growing demand for bespoke

 

Bespoke is not new, but the growing demand for everyday brands to offer some interpretation of it is.

That push, driven by Millennials but embraced by other generations as well, is likely to motivate marketers to offer more customization in their products.

As retailers escalate their data collection efforts by adopting artificial intelligence and leading-edge business analytics, personalization will become increasingly granular.

Items that may not currently be offered as bespoke may be identified as not only possible but also as desired.

Buying off-the-shelf, customized and bespoke may one day be just a few choices of several purchasing options, even at the department store in the local mall. 
 
 

by Monica Quinn

In-store inventory: Curating to compete against ecommerce’s endless aisle

 

 

One of the most difficult things for a retailer is understanding what items to have in-store and which could be successfully handled in online as part of an endless aisle strategy.

For brick and mortar retailers, physical in-store space is finite, and what’s available must be used effectively.

That is particularly challenging as brick and mortar retailers face the vast breadth of inventory that ecommerce competitors offer.

However, sometimes that enormous ocean of product can overwhelm customers.

 

Get insight into inventory

 

Traditional retailers can augment what’s in-store with online offerings, but one of the highlights of being brick and mortar is the ability to offer “look and feel” in a curated environment.

The “inner sanctum” of any retail store is the inventory area.

Making the most of that space will save any retailer money.

Storing inventory and supplies in a warehouse comes at a cost, especially if it eats away at display/retail space. Off-site inventory incurs rental and transportation costs, as well.

However, retailers must have “the right” inventory on hand so shoppers don’t leave stores empty-handed.

Retail inventory management keeps the backend in line with the front-end’s needs.

Good retail management software helps you see:

  • The quantities of each product in stock
  • A sense of when reordering is necessary
  • The number of items that should be ordered regularly
  • Best selling items
  • Items that are unpopular
  • The amount of inventory on-hand is adequate
  • If overstocking is a concern
  • If your inventory space is not big enough

Getting a handle on inventory management affects a business’ bottom-line, allowing it not only to continue operating, but also to grow.

Without a strong inventory management process, it’s easy to lose track of stock.

Mismanaged items are more easily stolen and seem to vanish without a trace – precisely because there is no traceability.

In a worst-case scenario, a retailer spends money on unknowingly replacing stolen goods, while paying to store an item that was ordered to replace a product that was never actually sold.

Additionally, not having a firm grasp on inventory levels can also mean running out of stock more easily, missing sales opportunities.

Today, many retailers offer a buy online, pickup in store option.

Not having inventory in sync with on-hand counts is a customer experience disaster.

In addition to keeping accurate inventory numbers, some stock management can be handled within the product displays.

The cost of storage depends upon the amount of inventory needed to be stored.

Planograms, or the blueprint of a store’s layout, can help retailers improve sales with visual merchandising.

 

Digitize the in-store experience

 

Today’s shoppers are used to a much higher level of convenience, choice and accessibility than in the past, because of the influence ecommerce has had on retail.

Therefore, it’s important for stores to “digitize” by providing personal recommendations, customer reviews and increased assortments, so that when customers enter a physical store, their expectations are met.

Planograms help to arrange merchandise in a way that catches the customer’s eye, organizing in a way that provides more room on your shelves, and helps estimate how much to place on the sales floor.

Brick and mortar retailers should focus on effective use of inventory space.

Too much is as detrimental as too little.

By employing retail management technology to count and manage products, they can offer what customers want, when they want it, while maintaining a healthy profit margin.

 

 

 

by Monica Quinn

Is your omnichannel meeting customers’ expectations?

 


 
Today’s customers often want a fast, efficient shopping experience, and retailers are increasingly providing omnichannel experiences that are refined to meet those needs.

While retailers hope to gain revenue and gain efficiencies in marketing, what do customers view as a successful omnichannel experience?
 

Origin of omnichannel

 
Ten years ago, a retailer might offer an online as well as a brick and mortar experience, hoping to catch shoppers who couldn’t make it to the store.

In essence, e-commerce began as a way retailers could extend their shopping hours.

Today, for many, e-commerce has evolved into a preferred means of shopping for many common items, but it doesn’t replace traditional shopping entirely.

That’s where a strong omni-channel strategy comes into play.

Clothing, electronics, furnishings — those are items that customers typically want to see in-person before buying.

They may not want to purchase them in-person, however.

Additionally, shoppers often want opinions of their friends before committing to those types of purchases.

Best-in-class omnichannel retailing serves shoppers through multiple sales channels—primarily online, in-store and social media — in a way that is presented cohesively, no matter how or where the customer journey began.
 

The reality today

 
From the customer’s point of view, most businesses currently provide a multi-channel experience.

There is a brick and mortar store, a website, a Facebook page, a Twitter account, and, perhaps, a blog.

Those platforms engage and connect with customers, but rarely as a cohesive unit.

In most cases, there is no seamless experience or consistent messaging across channels.

Many times, “buy online, pickup in store,” or BOPIS, is unavailable, because inventory systems are disparate.
 

What it takes to do omnichannel well

 
A successful strategy should build a coherent, aligned experience across multiple platforms and involve stakeholders including the product, marketing, sales, customer support and customer journey teams.

Each shopping channel should work concurrently to provide a truly powerful experience through many shopping touch points.

Among the most important areas to align include:

  • Inventory: Online reflects in-store stock
  • Rewards programs: Use and earn points online and in-store
  • Shipping and delivery: Delivery status can be checked in-store or online

While the biggest changes have come primarily from the largest retailers, many smaller companies have actually driven the customer experience crusade, using social media platforms to engage directly with shoppers.

Start-up retailers generally have omni-channel “baked in” as a foundation, leaving larger companies challenged to compete.

Retail consultant McKinsey notes that an omni-channel transformation is the only way for a company to address rising complexity, provide an excellent customer experience, and manage operations costs.

A true omni-channel strategy improves communication within the retailer itself, because different departments are routinely updating statuses that are then reflected throughout the internal supply chain.

As a result, the strategy better meets the needs of today’s customer.

by Monica Quinn

Innovating millennial loyalty

 

 

Regular customers appreciate being recognized and rewarded for their repeat business, and loyalty programs typically offer discounts or exclusive deals to a retailer’s regular customers.

Many programs pretty much follow the same tried-and-true script: Make a purchase, get a reward.

Generally, those rewards are points that can be accumulated and spent or applied as a discount.

The oldest loyalty program is Betty Crocker’s box top program, which debuted in 1929, and laid the foundation for today’s loyalty programs.

But the times they are achangin’, and brands know that the loyalty rewards programs of yesterday may not have what it takes to compete today.

 

Easier to earn, more fun to spend

 

Innovation is key to attracting and retaining customers, especially millennials, with rewards programs.

The hospitality segment has several creative programs.

For example, the Marriott Rewards program gives guests opportunity to earn loyalty points just by posting about their visits on Twitter, checking in on Facebook, or posting a picture on Instagram using a predefined hashtag.

Hotel chain Citizen M offers extras such as free on-demand movies, 10 percent-off each booking, free Wi-Fi and drink tickets which can be exchanged for free libations at the lobby bar.

 

Changing consumer sentiment

 

Whereas earlier generations may have had patience for collecting Betty Crocker’s box tops, a majority of millennials do not.

Kobie Marketing’s report, Loyalty in the Age of the Connected Consumer found that 4% of millennials won’t join a loyalty program if they consider the enrollment process for a loyalty program too time consuming.

They also want to reap the benefits quickly.

Accenture estimates the generation spends $600 billion annually, so crafting a loyalty program that appeals to millennials could indeed be profitable.

Traditionally, these programs have regarded customers with discounts.

But today, brands are learning that millennials prefer “experiences” to a discount punchcard.

Exclusive events or promotions are particularly attractive to young adults and is what drives successful loyalty programs such as Starbucks.

The coffee purveyor delights shoppers with music downloads, games, exclusive deals, advance notice of seasonal products and, of course, the occasional free coffee.

The variety and frequency of rewards encourages repeat customers.

 

Future of loyalty

 

Loyalty programs have enjoyed a long, rich history primarily because retailers have recognized shifting customer priorities and have adapted their rewards as appropriate.

While loyalty programs of the past have been viewed as a system to reward shoppers for simply making a purchase, the loyalty programs of the future leverage historical customer shopping patterns to entice repeat purchases and increase ticket values.

For many Millennials and Gen Z customers, even that won’t be enough.

These customers have been exposed to social media, streaming digital media, and online shopping for nearly their entire lives.

With this comes an expectation to not only receive offers, rewards, and content personalized to them, but also that these offers be delivered via their preferred touch points (i.e. email, text message, social media, etc.)

Brands that want to continue to grow and include the millennial shopper will expand their loyalty strategies that highlight engagement, personalization and convenience.

 
 

by Monica Quinn

2021 Holiday game plan: 3 ways to help shoppers find the perfect gift and get on with their online parties – faster

 

 

Let’s face it – even if you’re someone’s absolute FAVORITE retailer, they still don’t want to spend their holiday season with you, and this year, even less so with COVID.

What your customers want most is to find fun gifts for friends and family fast – and get on with the white elephant and ugly sweater parties online.

Don’t be offended. You know the feeling is mutual.

So this holiday season, give your shoppers the gift that matters most to them: time.

Here are 3 ways to help your customers find what they need and get on with the digital festivities – faster.

 

1. Send gift ideas and personalized offers

 

The biggest challenge in holiday shopping is actually deciding what to buy – so use your data resources to help your shoppers out.

Their past purchases will give you an idea of their unique style and will help you extrapolate from those qualities to tie in with the new items you’re carrying for the holiday season.

AI-powered personalized marketing and loyalty platform AppCard for Retail Pro listens to your transaction data for you, watching for trends for each individual shopper.

Use it to send personalized offers tailored to your shopper’s style so it piques their interest and brings them into your store to find that perfect gift.

The offers will help you get your customers in the store, and their purchase will get them more loyalty points.

It’s a win-win!

 

2. Give them all the options with endless aisle

How about those shoppers who just walked in your store and don’t have a shopping history with you?

Show ‘em everything you’ve got with an endless aisle!

You’ve already got full visibility into inventory at each location in Retail Pro, and you have the inventory pictures, so make it available for shoppers to see your full collection.

Give shoppers free reign to browse and find what they’ll love on a secure touchscreen tablet or kiosk in your stores.

With an easy to use interface, customizable workflows, and detailed permissions settings, you can control the experience to ensure customers find what they need – without finding POS screens not intended for their use.

Plus, sales associates can be on hand to answer questions, offer suggestions, or for help navigating for first-time users.

 

3. Get them out faster with efficient mobile checkout

Shoppers can spend all evening browsing your store but once they’re in the checkout line, they want out.

Get them through the queue faster by setting up extra points of sale on mobile tablets.

Sales associates can be available anywhere your customers are on the sales floor to help them find what they need and wrap up the conversation right there by completing the transaction on a mobile POS.

Because Retail Pro is browser-based software, you can access it on any mobile or desktop device, so you can ramp up more points of sale for the holidays to keep lines short – especially with COVID considerations – and customers happy.

Don’t have time this season to invest in mobile printers and accessories for mobile POS?

Send email receipts!

Or, for customers who prefer paper receipts, you can ring up all the items while clienteling and hold the transaction for associates at an express counter to pick up and finish off to get customers on their merry way faster.

 

This holiday season, help your shoppers find gifts for every person on their list – and then just let them enjoy the holidays.

Your customers probably won’t thank you for it.

But they’ll be back in January to redeem their loyalty points, and that’s pretty much the same thing.

 

Christmas at the mall

7 Ways to get your store tech and staff ready for the holiday rush with Retail Pro POS

How to extend your holiday sales momentum using data & AI

How to extend your holiday sales momentum using data & AI

by Monica Quinn

Retail Pro ranked #1 POS for midmarket retail

 

 

We are honored to announce that the cross-platform, cross-channel POS and retail management software Retail Pro® was ranked number 1 retail mid-market POS in market share, global reach, innovation, and growth in the latest Retail Executive Advisory Program Research Study from IHL Group.

The study evaluated retail technology providers from all over the world based on relative strength, growth, direction, resilience, and market share.

“Over the years we’ve amassed a tremendous amount of primary and secondary-source data in this pursuit to assist retailers in vendor selection and to help understand the trends transforming our industry,” said Jerry Sheldon, Vice President of the IHL Group.  “The study considers primary and secondary source data to evaluate and rank on-premise and SaaS POS for retailers with chains ranging from 1 to 100 locations – representing over 9 million POS locations installed POS units worldwide.”

In this hyper-competitive context, Retail Pro holds 5.9% market share in the midmarket slice for general retail and also ranks as a top performer in IHL’s positioning map which measures vendors by innovation and market strength dimensions.

Kerry Lemos, CEO of Retail Pro International, comments, “We thrive in the highly creative and demanding environments in all major markets worldwide. Striving together with our loyal customers drives us to keep honing our technology to be more efficient, more innovative, and more adaptable to the diverse retail brands using Retail Pro worldwide.”

 

 

As retail in emerging markets continues to expand and enterprise retailers are rearchitecting systems for unified commerce, IHL projects the POS software market will grow 53% from $3.2 billion in 2018 to $4.9 billion in 2023, implying further growth opportunity for top POS providers.

“In spite of economic condition setbacks in some markets, retail continues to advance in North America, EMEA and APAC. This presents our retail technology solution providers with an opportunity to move forward and prosper in the era of intentional innovation,” commented Greg Buzek of IHL.  “These companies, ranked above all others in our study, represent a cohort of movers who push and help organizations drive growth. We congratulate the top-performers who move our industry forward.”

We are humbled at the significance of being ranked top POS at a global scale, and it is not by our efforts alone that this achievement was earned. Thus, we would like to recognize the people who work so hard every day, everywhere in the world, who are the hands, feet, minds, and retailers behind this triumph:

Our brilliant retailers who are always optimizing for more beauty and efficiency in retail experiences – and are using Retail Pro to do it.

Our forward-thinking designers, architects, engineers, and developers who create and support Retail Pro, and our dedicated team of business staff who keep the company on an upward trajectory.

Our skilled Business Partners who labor day and night to serve the 9000 retailers worldwide entrusting their operations to Retail Pro.

Our innovative Strategic and Development Partners who augment Retail Pro with the plugins and integrations they create.

All striving together for opportunities to push beyond what we thought we could do yesterday. All uniting to make retail what it is today.

THANK YOU.

 

 

by Monica Quinn

7 Ways to get your store tech and staff ready for the holiday rush with Retail Pro POS

Holidays are fast approaching. With them the masses flock to your website, and this year, only some to your stores.

Every retailer’s goal is, of course, to capitalize on the increase in reasons to shop and do whatever it takes to be in the black by New Year’s Eve.

The pressure is on – especially given the retail industry’s globally lackluster YTD performance.

But the happy increase in sales opportunities and foot traffic inevitably brings with it a not-so-favorable descent in chaos and disorder, even to the sharpest of managers.

Entropy at its finest.

A little preparation goes a long way in combat against chaos. It’s in finetuning the details that you’ll find compounding efficiency gains, and a little sanity in the staff goes a long way toward keeping up good customer experiences.

So here’s a quick checklist of ways to get your store tech and staff armed and in shape for the holiday rush.

1. Think through your POS workflows

Tighten up your POS workflow for faster, more efficient checkout. Shave off critical seconds from each transaction by getting rid of unnecessary clicks and integrating steps you need for smoother returns with tracking for return reasons, easier customer and inventory lookup, and faster loyalty enrollment.

In Retail Pro POS, you can use HTML files to customize your workflows in the user interface to mirror the workflows your staff would use in real life. Tailor the transaction workflow and create pop up prompts for your staff to hit all the points on your customer engagement check list at checkout.

 See documentation: Customize workflows with HTML files | My Retail Pro 

2. Ramp up employee training for faster checkout experiences

Build up employee product knowledge so they can be quicker at looking up items by their alternate names or numbers at the POS.

Retail Pro Prism gives sales associates flexibility to look up inventory using not only the SKU but by description and other fields as well. 

This will help associates save time and find the product in the system if a barcode is missing, rather than having everyone wait while another sales associate finds the product on the sales floor.

 Watch video: Advanced Item Lookup | My Retail Pro 

3. Train employees to collect customer emails

Incentivize your employees to collect emails for in-season and post-holiday deals. Now is the time to capitalize on the increased foot traffic to build connections with customers and invite them back for more after the holidays.

You can train your associates to a workflow that includes taking down a customer’s number in the integrated AppCard for Retail Pro loyalty and personalized marketing platform.

Because the technology is integrated, your staff won’t need to navigate between applications to enroll customers, saving time for your team and for everyone else in line.

 Watch video: POS flags setup | My Retail Pro 

4. Simplify inventory lookup on the sales floor

During the holidays the store fluctuates daily between chaos and order, so having a centralized inventory system that keeps detailed accounts of what is on the sales floor, in the back room, or in transit will help associates get customers what they need.

They can easily look up what the customer needs and place an order for them if the item isn’t in stock. You’ll save the sale and your customer will go home with one more person checked off on their holiday gift list.

 Watch video: Checking On-Hand Quantity | My Retail Pro 

5. Set up stations for self-serve inventory lookup and send sales

Set up a mobile POS station for self-serve or staff-assisted inventory lookup and send sale. If a customer needs something you don’t have in store, help them find and order it on your website or at a different location.

Send sale functionality in Retail Pro lets your sales associates send the sale (just like it sounds) to a nearby store that has what your customer needs in stock, so that item is put aside for them when they come to pick it up.

 Watch video: Creating and Fulfilling Send Sales | My Retail Pro 

6. Get your best staff on mobile POS for clienteling & line busting

Clienteling is extremely effective for engaging with customers in a way that leads to loyalty and a better overall experience with your brand.

Help customers find what they need faster and finish the transaction on the spot, without waiting in line. You can email receipts to decrease the need for ancillary mobile hardware like receipt printers.

And when checkout lines start to wrap around through the store with all that distance between clients, ramp up more points of sale on mobile to ring up transactions faster and get customers on their way before frustrations rise.

 Read blog: 9 tactics to borrow from luxury retail’s clienteling strategy to improve your omnichannel CX

 Get whitepaper: Is Mobile POS Right for Your Enterprise?

7. Track sales performance with KPI reporting

Use real-time KPI reports to stay on target and ramp up sales efforts when you’re falling behind. With Retail Pro Decisions, powered by the Targit BI and visual analytics platform, you can analyze your data from every angle based on KPIs important to your strategy.

And with Retail Pro Reports, you can pull the data you need to monitor performance on the go. With clear dashboards and easy filtering, you’ll have an on-the-minute update whenever you need it, so you can keep your finger on the pulse and make sure you’re hitting targets.

 Read blog: What are the Most Important KPIs for Retail?

 Get whitepaper: From KPIs to Profit 

Yes, there’s very little time left, and more to do than there are scheduled hours to do them. Focus on implementing a handful of optimizations that will help your team most to work more efficiently and ring in more sales.

They might not thank you for it, but your bottom line will.

___

Need access to the My Retail Pro resource portal?

As part of an active Retail Pro Software Assurance plan, you have full access to all training, documentation, and knowledgebase resources available on the My Retail Pro user portal. Get access from your company MRP administrator or contact mrprequest@retailpro.com

Not current on Software Assurance? Contact your Retail Pro Business Partner for a quote today, or email in to customercare@retailpro.com to get connected with your Business Partner.

How to use loyalty marketing NOW to boost holiday season profits [Webinar]

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How to extend your holiday sales momentum using data & AI

2020 Holiday game plan: 3 ways to help shoppers find the perfect gift and get on with their holiday parties – faster

by Monica Quinn

9 tactics to borrow from luxury retail’s clienteling strategy to improve your omnichannel CX

 

 

Clienteling is extremely effective for engaging with customers in a way that leads to loyalty and a better overall experience with your brand.

But outside of luxury and small retailers who have personal relationships built into their business model, clienteling is a tough tactic to pull off – especially when you throw multiple sales channels into the mix.

So how can mid-sized and chain store retailers incorporate some of the same concepts that make clienteling so effective into their customer engagement strategy?

Here are 9 ways to improve your omnichannel customer experience with clienteling tactics.

 

1: Need-based sales

Train your employees to listen for customers’ unspoken needs when they’re helping them on the sales floor. For example, if they’re looking for a home theater system, help them evaluate not only the speakers and acoustic panels, but also the wireless headphones that will recreate the experience when the baby is sleeping. Help your customer think through every detail of the occasion and get them everything that meets those needs.

2: Customer profiles

Mobile POS is your friend. It gives your sales associates quick access to a customer’s profile and shopping history so they can be better informed when making recommendations. Retail Pro POS is device-agnostic, which means your sales associates have secure access to the same powerful customer management tools, whether on small mobile devices or full-sized desktop computers.

3: Always say YES

Having an iPad or tablet accessible while engaging with customers on the sales floor means your sales associates can look up inventory at nearby store locations to see whether they have the particular size or color the customer wants. Then, complete the sale through that store with send sale capabilities in Retail Pro POS.

4: Digital lookbook

Retailers going for the clean, modern look of a lean inventory strategy can use inventory images in your mobile POS or on your website as an endless aisle lookbook to help your customer pick out and order items you don’t carry in store.

5: Now trending

Analyze the POS sales data in business intelligence and visual analytics software like Retail Pro Decisions to see micro and macro trends and take action to make the goods available to more customers. If your top shoppers are loving your newest products, extend the offer to the next tier of shoppers to bring them into your stores and spread the love!

6: Personalized service online

Use your customer data in Retail Pro to offer the same kind of personalized service on your website. Basket analyses help you see what products shoppers tend to purchase together so you can recommend similar pairings to shoppers buying only one item or the other.

7: Behavior-driven offers

For shoppers who have an account with you, use their purchase history as the basis for your recommendations. AppCard for Retail Pro integrates customers’ POS data to make it easier to personalize offers to them. Email marketing campaigns personalized with your customers’ actual shopping behavior make them more relevant and more likely end in conversion.

8: Customer nurture

Between visits to store or site, nurture shoppers by anticipating their next need and proactively contacting them via email or SMS. A customer’s purchase history in Retail Pro POS can inform the offers you make to them and helps you create personalized promotions through the AppCard for Retail Pro solution.

9: Unified experiences

A cohesive customer experience shows you know and understand shoppers’ wants, exposes them to new products they may benefit from, and makes it more convenient for them to get what they need from you. The best way to do that? Tie the purchasing journey and communications together across channels by integrating all your customer-facing tools on the Retail Pro POS platform.

 

Luxury retail sets high standards when it comes to giving shoppers a meaningful, customized customer experience. Retailers incorporating clienteling tactics into their own customer engagement strategy across channels can differentiate themselves by better, more personalized experiences at every touchpoint.

 

 

by Monica Quinn

3 Ways to build better customer profiles using Retail Pro POS

The elusive omnichannel shopper: she leaves her tracks everywhere but is yet to be understood.

Shoppers’ path to purchase today beelines from your store to your website on their computer at the office (used only during breaks, of course), to your mobile site on their tablet, to your app on their smartphone, and back.

Companies with strong omnichannel engagement are able to keep 89% of their customers, compared with 33 percent of companies with weak engagement.

But how can you keep customers and improve customer experience for shoppers whose journeys you’re still struggling to pinpoint?

Learn about your shoppers

One way is to build steps into your operations that will help you learn more about your customers. Basically, train your team to build customer profiles as they interact with shoppers.

But when you can give customers good reason to share their information with you online or in stores, you are in a better position to gather accurate data that will help you draw more useful, actionable insights from your company performance.

For example, if there’s something a customer wanted that’s not in stock, retailers can turn a bad experience into a positive one by placing an order for them from the store — with free shipping — delighting the customer while gathering additional shopper data.

Answers to a small number of carefully targeted questions can have a big impact on a business, whether in survey format or simply asked by an associate at the POS itself.

Of course, the simplest way (though not always the easiest way) to learn information about shoppers is to collect it directly from the source: Ask them. Here are 3 ways to build better customer profiles using Retail Pro POS.

 

1: Get feedback at the POS

Take time to chat with customers while ringing them up at the POS, and take notes.

POS flags in Retail Pro POS allow you to add quick-action buttons or fields to take note of shopper details at the POS, which you can then analyze and use to shape more effective decision making, or for their marketing campaigns, depending on the information you choose to capture.

Because workflows in Retail Pro are entirely tailorable to yours, you can automatically prompt sales associates to ask preset questions and record the answers.

This kind of information, collected incrementally over time, will help you build a truer understanding of your customers and draw conclusions to improve their experience.

 

2: Engage with shoppers on the sales floor

Having mobile POS available for your sales associates empowers them to do build customer profiles while they’re helping them on the sales floor. Retailers with a more consultative approach to customer engagement can create quick workflows to help associates create new customer profiles and start filling in the details while they assist: shoe size, scent preferences, skin tone.

Skincare brand Aesop uses Retail Pro to track, manage, and access customer data all over the world, ensuring the same experience for a particular customer regardless of location, because every store shares the same customer and inventory details.

“Our store consultants often work cross-country but the experience of working with the software is the same. We have one consistent thread through Retail Pro, though each store is entirely different,” said head of Aesop’s ICT, Troy Smith.

Over time these profiles will help your associates continue the conversation knowledgeably, making recommendations relevant to their needs because you see them through the customer’s history in the POS.

 

3: Invite your top shoppers to VIP in-store events

Inviting your top shoppers to exclusive in-store events not only rewards them and deepens their affinity for your brand, but also gives your team opportunity to keep learning about your shoppers.

Form your guest list using Retail Pro’s built-in reports on customer KPIs like total spend or Customer Lifetime Value. Then, get to learning about your customers’ preferences as you mingle over cocktails at your new product drop.

Or, use Retail Pro POS to collect information about visitors to the launch of your new pop-up store.

Designer brand Akris uses POS flags in Retail Pro POS to capture email addresses or phone numbers of customers attending their exclusive in-store events and then contact them for future events.

 

As you take advantage of these kinds of opportunities to build customer profiles, you’ll start learning more about your customers and can then more successfully unify your operations and customer engagement to place customers’ needs at the forefront of your business strategies.