The struggle is real for customers hoping to take some of the legwork out of shopping by researching products online before heading to a store – only to make the drive and discover the product they decided on isn’t available, as it is in omnichannel experiences they have at other stores. 

For retailers, such deflating experiences can mean a loss of loyal customers as well as a damaged reputation.

As shoppers become more strapped for leisure time and less willing to browse for hours just for fun, connecting a physical and digital store experience is increasingly critical for retail longevity.

It’s all about what some refer to as Retail FOMO: That is, customers’ fear of missing out on things they want, and retailers’ fear of missing a sale.

Here are 6 ways you can connect your physical and digital store experiences with Retail Pro Prism POS and retail management software to remove some of the friction shoppers are experiencing while retailers are building their omnichannel strategies.

1. Show in-store stock availability online

Research suggests that roughly a quarter of customers won’t visit a store if they aren’t sure what they are looking for is available. In addition, more than half will leave a store disappointed if they can’t find the item they had in mind.

One way to avoid that is by showing customers stock availability online. That way e-window shoppers can be assured that what they are looking for is available when they visit.

And, in the unfortunate case that a particular item is sold moments before a shopper arrives, enabling in-store ordering for free home delivery is one way to compensate the customer.

Retail Pro Prism has accessible APIs and hundreds of Plugins and integrations on the Retail Pro App Market to help retailers connect their ecommerce with inventory information in Retail Pro.

The ability to straightforwardly integrate any technology retailers already use (or might choose to use in the future) gives retailers control over decisions like which platform will be the data master through which they’ll reference and report on stock availability and needs across all their store locations, including ecommerce.

Challenges of using store inventory for online order fulfillment

2. Show off your full selection with endless aisle

Endless aisle can accommodate retailers that, often because of a small physical footprint, can’t stock a wide range of products.

The technology lets customers virtually browse or order a wide range of products that are either out of stock or not sold in-store and have them shipped to the store or their home. 

Because Retail Pro Prism is browser-based software and not solely a mobile or desktop app, retailers can run Retail Pro both on their desktop computer or laptop at the till – or on an iPad or other mobile device so that sales associates can access inventory information when helping customers on the sales floor.

So when a product is not available at this store, sales associates can easily show customers the item images for the product they want and place an order for them, saving the sale.

The practicality of endless aisle when supply chain delays cause in-store stockouts

3. Give them an occasion to shop in-store

In addition to providing a better customer experience, providing inventory information drives customers into stores, opening the door to additional purchases.

Impulse buys are more common for shoppers at brick-and-mortar retailers, because those stores can influence customer shopping experiences by tailoring layout and staffing decisions based on their clientele.

According to A.T. Kearney, 40 percent of customers make unplanned purchases at physical stores and spend more money, compared to 25 percent of online shoppers.

4. Reward their loyalty across channels

Aligning physical and digital stores also means ensuring that shopping benefits are equivalent.

Loyalty rewards should be earned in the same manner, for example, and coupons should be valid online and in-person. Being a rewards member should be the ultimate frictionless experience.

Using an integrated loyalty platform like AppCard or OptCulture with Retail Pro Prism not only saves your associates and customers time at checkout when handling loyalty, but also ties in the POS transaction data with your loyalty platform so you can run campaigns based on actual purchase data.

Measuring ROI of relationship building with loyalty programs

5. Work out the kinks for online returns in-store

Despite the best intentions of retailers and customers, sometimes merchandise must be returned. How a retailer handles this onerous process with the customer is reflective of its overall commitment to customer service.

By working through the kinks for in-store returns of online purchases, retailers can offer their shoppers a less stressful initial purchasing experience, because they are assured that if they are unsatisfied, returning is a simple process.

Because all inventory items (whether online or in-store) would have been created in Retail Pro Prism and then used to populate a retailer’s online inventory when integrated, retailers will be able to accept the online inventory without the backend hassle of accounting for online versus in-store purchase origin.

Once the item is returned, it can be assimilated into the physical store inventory, accounted for and ready to be resold.

6. Help your store staff get to know your omnichannel shoppers

When a customer begins a journey online, or has a history of shopping through a retailer’s online channel, that data can and should be used to personalize the in-store shopping experience.

By analyzing and connecting transactional data from their Retail Pro POS into one holistic view, retailers can learn how often a customer shops, what they purchased, where they are from, how much they spend across different channels, and whether they are new or repeat buyers.

That can help inform associates in the physical store as they engage with shoppers, as well as help form future decisions for an omnichannel product and customer engagement strategy, especially when retailers use an integrated business intelligence and visual analytics solution with the rich data they collect at the Retail Pro Prism point of sale.

The information conduit flows both ways now, not just as a funnel into one channel or another, so retailers can fix broken customer journeys and convert more sales, improve efficiency and increase loyalty.

Bringing both worlds together – digital and physical – will mean some parts of the journey will still have bumps along the way.

But addressing the operational challenges in each of these areas will help retailers smooth some of the friction that arises as they build their omnichannel strategy.

Going to the

2022 Retail Technology Show?

26-27 April 2022 | Olympia, London | Stand 6e28

About Pinnaca Retail & IT Solutions

Founded in 2015, Pinnaca Retail & IT Solutions is a family-run business offering retail solutions, specialist management consultancy and IT services. Our company is UK based, with offices in London, and a client base across the globe.

We work with all levels of business to define and develop strategies focused on our clients’ needs and objectives. Our tailored solutions are developed and optimised to fulfil your key business demands.

Over time we have added to our 20 years’ experience in the field and built up a team of experts, with a wide range of experience and in-depth knowledge, who are eager to help your business succeed and grow.

About DataScan Retail Systems

Datascan Retail Systems are a leading UK and European supplier of solutions to the retail sector, from small businesses through to mid-tier and international enterprises. We have vast experience in the analysis and design of retail IT and the implementation of EPOS and Stock Control Systems and provide all the services required to plan, implement and maintain an effective Retail Management System. We are committed to match the Retail Pro System to the exact needs of the retailer, utilising our development, training and help desk teams.

About RIOT

RIOT is turning traditional RFID solutions for retail on their head with RIOT Insight​. Insight is RIOT’s real-time inventory accuracy service offered as a simple but powerful add-on to a retailer’s existing systems. 100% inventory accuracy to support Omni-channel is now yours on demand.

About PAR

PAR Technology Corporation provides industry leading software and hardware solutions that are always there when you need them but never in your way.

• State of the Art Point of Sale Systems.
• Tablets and Portable Devices.

About XRetail

XRETAIL is a Global leader in Unified Commerce solutions, with a prime mission to empower enterprise retailers by helping to boost their sales and retain their clients. Through state-of-the-art technologies, integrations, and solutions, the XRETAIL platform creates unified sales channels including eCommerce, Mobile commerce, and Social commerce. XRETAIL’s Cloud-based platform creates seamless end-to-end solutions allowing enterprise retailers to blend brick-and-mortar and digital retailing into one unified platform, with notably enhanced customer experience both online and offline.

About Loqate

Combining leading technology with the richest data, Loqate provides several solutions to help bring businesses across the globe closer to their customers:

Address Validation
A faster, easier way to capture and verify addresses in real-time for your online forms and checkouts.

Email validation
Increase email delivery rates, boost customer marketing and reduce bogus registration when you verify email addresses upfront.

Mobile & phone validation
Take the guesswork out of reaching customers. Capture the right phone number, mobile or landline at the point of entry.

Data maintenance
The foundation of any customer management strategy, Loqate’s cleansing and maintenance software helps build lasting customer relationships.

In the aftermath of COVID-19 restrictions, even luxury brands have ventured into the world of e-commerce.

Many leading brands are taking the best of their existing bricks-and-mortar customer service and applying that to enhance their online offerings — as well as using digital tools to enhance the in-store experience.

Drivers of luxury shopping

The luxury shopper of yesterday embraced conspicuous consumption and fashion, often incorporating a brand’s name overtly into its design.

Today, a company’s commitment to sustainability and social awareness are more important to the new generation of these shoppers than a particular brand name.

However, one thing has remained the same: Luxury doesn’t have to be rational. It can be pure fun with little or no practicality.

Luxury shoppers tend to make a purchase to make themselves or others feel good, rather than because they require the item.

Their purchases can be impulsive or for gift-giving; a Deloitte study found that 20.5% of millennials bought a high-end item for a particular occasion and 18.5% bought one as a “treat.” 

Take the Louis Vuitton skate shoe for instance – or the diamond and ruby studded Victoria’s Secret bra. How could any data support creating such items? But even if only a handful are ever produced — that rarity is part of what makes them luxurious.

Luxury is about a vision that totally transcends data.

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

Luxury omnichannel experiences

Luxury is fantastic at cultivating extraordinary customer experiences beyond the product and making people feel good about their purchases.

With COVID, many luxury retailers began selling online for the first time in their history. Luxury has sat out from the ecommerce game for years, since a major part of what makes a luxury experience luxurious is the personal, human touch that surrounds the client with readiness to anticipate and exceed expectations.

Now, with nearly two years of online selling under their hand-crafted cowhide belts, luxury retailers are applying their creativity in reinventing digital experiences both online and in-store.

Bootmaker and Retail Pro user Lucchese is an example of a luxury brand offering clienteling online to replicate the personal nature of in-person shopping.

The company offers chat – “live shopping” – that enables a customer to connect with an in-store associate for virtual personal shopping, fit advice and style recommendations.

For a shoemaker that makes every pair by hand, having one-on-one help helps ease concerns, particularly about fit.

VIP experiences that build loyalty in luxury retail Read article >

Retail Pro technology for a personal touch

To a large degree, success will be dependent on luxury brands taking the opportunity to extend the personal touch to both the online and in-store experiences, based on previous interactions and reflecting the quality of interaction their high-profile customers experience in-store.

It’s omnichannel taken to the next level: Offering that personal touch regardless of where the purchase is made.

In this arena, there’s a valuable opportunity to use technology to recognize enthusiasts and online customers when they come to pick up or tailor their online luxury purchase in-store, and provide exemplary service that’s personalized, relevant and unique.

As much as customer engagement strategy differs between brands, one thing is consistent across the board: the POS is still the one thing that never fails to bring sales associate and customer together.

And last impressions matter.

Using Retail Pro Prism on mobile devices frees your sales associates from the cash wrap so they can more meaningfully engage with shoppers on your sales floor and learn about them.

There is no better way to personalize a customer’s experience than by actually getting personal and asking questions. What are they looking for? What’s the occasion? Can we help you find something to go along with the item you’re trying on?

That kind of human connection through clienteling makes customers feel like they’re shopping with a friend, and it builds emotional attachment to a luxury brand.

Clienteling data not only enhances the shopping experience for those in physical stores but is also used by associates to reach out to customers between visits.

Associates with access to customers’ spouses’ birthdates, for example, might place a well-timed call detailing the latest merchandise that would make a great gift.

Such focused, one-to-one outreach is extraordinarily effective in attracting high-value customers.

Going to the

2022 Retail Technology Show?

26-27 April 2022 | Olympia, London | Stand 6e28

About Pinnaca Retail & IT Solutions

Founded in 2015, Pinnaca Retail & IT Solutions is a family-run business offering retail solutions, specialist management consultancy and IT services. Our company is UK based, with offices in London, and a client base across the globe.

We work with all levels of business to define and develop strategies focused on our clients’ needs and objectives. Our tailored solutions are developed and optimised to fulfil your key business demands.

Over time we have added to our 20 years’ experience in the field and built up a team of experts, with a wide range of experience and in-depth knowledge, who are eager to help your business succeed and grow.

About DataScan Retail Systems

Datascan Retail Systems are a leading UK and European supplier of solutions to the retail sector, from small businesses through to mid-tier and international enterprises. We have vast experience in the analysis and design of retail IT and the implementation of EPOS and Stock Control Systems and provide all the services required to plan, implement and maintain an effective Retail Management System. We are committed to match the Retail Pro System to the exact needs of the retailer, utilising our development, training and help desk teams.

About RIOT

RIOT is turning traditional RFID solutions for retail on their head with RIOT Insight​. Insight is RIOT’s real-time inventory accuracy service offered as a simple but powerful add-on to a retailer’s existing systems. 100% inventory accuracy to support Omni-channel is now yours on demand.

About PAR

PAR Technology Corporation provides industry leading software and hardware solutions that are always there when you need them but never in your way.

• State of the Art Point of Sale Systems.
• Tablets and Portable Devices.

About XRetail

XRETAIL is a Global leader in Unified Commerce solutions, with a prime mission to empower enterprise retailers by helping to boost their sales and retain their clients. Through state-of-the-art technologies, integrations, and solutions, the XRETAIL platform creates unified sales channels including eCommerce, Mobile commerce, and Social commerce. XRETAIL’s Cloud-based platform creates seamless end-to-end solutions allowing enterprise retailers to blend brick-and-mortar and digital retailing into one unified platform, with notably enhanced customer experience both online and offline.

About Loqate

Combining leading technology with the richest data, Loqate provides several solutions to help bring businesses across the globe closer to their customers:

Address Validation
A faster, easier way to capture and verify addresses in real-time for your online forms and checkouts.

Email validation
Increase email delivery rates, boost customer marketing and reduce bogus registration when you verify email addresses upfront.

Mobile & phone validation
Take the guesswork out of reaching customers. Capture the right phone number, mobile or landline at the point of entry.

Data maintenance
The foundation of any customer management strategy, Loqate’s cleansing and maintenance software helps build lasting customer relationships.

It was a long time coming: Retailers have for many years positioned themselves with the technology and supply chains to become not simply multichannel, but omnichannel.

Whether shopping through an app, their computers or by walking through the door, customers are shopping again.

As a result of COVID, consumer behavior has changed, with e-commerce gaining steadily in popularity. During the pandemic, online buying increased by leaps and bounds: A survey from PYMNTS found that roughly 36% of consumers were buying goods online in the second half of 2020, up from 29% in mid-April when most brick-and-mortar stores were locked down.

The Statista Digital Market Outlook reports that total revenue from e-commerce in the United States came to $431.6 billion in 2020, and estimates that by 2025, revenue will rise to $563.4 billion.

Combine that with the U.S. Census Bureau’s findings that consumers spent $211.5 billion online during the second quarter of 2020– a 31.8% increase quarter-over-quarter–and it’s clear that shoppers have embraced the convenience of e-commerce.

Embracing Digital Sales

While COVID-19 propelled brick and mortar retailers to get creative with their approach to sales, it was the catalyst for some shoppers to take their business digital.

According to a March 2020 consumer survey by Statista, nine percent of U.S. consumers bought a product online for the first time ever due to physical distancing and quarantine mandates during the pandemic.

And although brick and mortar retailers may have long had online components to their shopping experiences, COVID-19 forced many to try to integrate them into the in-store experience, including buy online, pick up in-store offerings and curbside pick-up.

For some retailers, omnichannel operations were assembled quickly as a way to keep revenue coming.

Now, as retailers are reopened and slowly lengthening their hours of operation, they have the time and experience to make adjustments for the long-haul, rather than just meeting the needs of the moment.

To standardize operations and make them scalable, retailers will need to optimize use of their technology. The Retail Pro Prism POS and retail management software acts as a platform for unifying data across channels and helps retailers manage omnichannel tasks in-store, including curbside pickup and order management.

Mobile POS for curbside shopping

With the web-based Retail Pro Prism software, retailers get full POS functionality on the mobile device of their choice and integrated EFT to complete the transaction where it began – whether on the salesfloor or sidewalk.

Retailers with using Retail Pro Prism POS on mobile devices can be ready at any time and in any place to take credit or debit card payment for items, and the shopper can stay outside.

mPOS systems can also be used for curbside pickup, a solution crafted out of necessity but now — without a doubt– certain to stay. The ease of convenience of curbside pickup is not lost on anyone who has ever done errands with a toddler.

Order management & data visibility across channels

Around the globe, people have changed their shopping habits in response to COVID, and retailers are needing to streamline order management across channels.

In Vietnam, more customers are shopping online and ACFC as the market leader is doing its best to bring a convenient shopping experience to its customers by launching the company’s eCommerce platform, Magento, as part of its New Retail program.

ACFC has more than 200 stores in major city centers across the country, and it plans to expand soon to 250. It is the exclusive retailer of well-known brands including Nike, Gap, Banana Republic, Tommy Hilfiger, Calvin Klein, Levi’s, Old Navy, Mango, Dune London, Cotton: On, Typo, Owndays, Parfois, Mothercare, Fitflop, OVS and French Connection.

With service from their Retail Pro Business Partner, LBC International, ACFC has successfully integrated Retail Pro Prism with the company’s eCommerce platform, helping the retailer satisfy the increased demands of shoppers who prefer to buy online and pickup in-store through the interface between the two systems.

“With data integrated between Retail Pro Prism and our ecommerce, it is easy to keep track of inventory and display online whether an item is out of stock or ready to be picked up, resulting in less frazzled associates and happier customers,” commented Vo Thi Phi Phuong, Managing Director at ACFC.

“When customers buy and pay on the eCommerce website, that order information is sent to Retail Pro Prism at the store, and the goods will be picked and packed, ready for customers to collect. The transaction data is also being captured, so stores will collect data on which styles are popular, which will influence product orders in the future,” explained Ms. Vo. An omnichannel retail strategy strengthens the customer experience and provides more avenues for shoppers––whether it is on mobile, web or in physical stores.

Going to the

2022 Retail Technology Show?

26-27 April 2022 | Olympia, London | Stand 6e28

About Pinnaca Retail & IT Solutions

Founded in 2015, Pinnaca Retail & IT Solutions is a family-run business offering retail solutions, specialist management consultancy and IT services. Our company is UK based, with offices in London, and a client base across the globe.

We work with all levels of business to define and develop strategies focused on our clients’ needs and objectives. Our tailored solutions are developed and optimised to fulfil your key business demands.

Over time we have added to our 20 years’ experience in the field and built up a team of experts, with a wide range of experience and in-depth knowledge, who are eager to help your business succeed and grow.

About DataScan Retail Systems

Datascan Retail Systems are a leading UK and European supplier of solutions to the retail sector, from small businesses through to mid-tier and international enterprises. We have vast experience in the analysis and design of retail IT and the implementation of EPOS and Stock Control Systems and provide all the services required to plan, implement and maintain an effective Retail Management System. We are committed to match the Retail Pro System to the exact needs of the retailer, utilising our development, training and help desk teams.

About RIOT

RIOT is turning traditional RFID solutions for retail on their head with RIOT Insight​. Insight is RIOT’s real-time inventory accuracy service offered as a simple but powerful add-on to a retailer’s existing systems. 100% inventory accuracy to support Omni-channel is now yours on demand.

About PAR

PAR Technology Corporation provides industry leading software and hardware solutions that are always there when you need them but never in your way.

• State of the Art Point of Sale Systems.
• Tablets and Portable Devices.

About XRetail

XRETAIL is a Global leader in Unified Commerce solutions, with a prime mission to empower enterprise retailers by helping to boost their sales and retain their clients. Through state-of-the-art technologies, integrations, and solutions, the XRETAIL platform creates unified sales channels including eCommerce, Mobile commerce, and Social commerce. XRETAIL’s Cloud-based platform creates seamless end-to-end solutions allowing enterprise retailers to blend brick-and-mortar and digital retailing into one unified platform, with notably enhanced customer experience both online and offline.

About Loqate

Combining leading technology with the richest data, Loqate provides several solutions to help bring businesses across the globe closer to their customers:

Address Validation
A faster, easier way to capture and verify addresses in real-time for your online forms and checkouts.

Email validation
Increase email delivery rates, boost customer marketing and reduce bogus registration when you verify email addresses upfront.

Mobile & phone validation
Take the guesswork out of reaching customers. Capture the right phone number, mobile or landline at the point of entry.

Data maintenance
The foundation of any customer management strategy, Loqate’s cleansing and maintenance software helps build lasting customer relationships.

Retailers face REAL and costly problems due to inventory inaccuracy – and it’s getting worse as retailers attempt to use store inventory to fulfill online orders for pickup or shipments.

Watch this webinar from Retail Pro and RIOT to see how with RIOT RFID for Retail Pro, you can get:

• Labor Savings – Save 100s of hours and 1,000s of dollars per year, per store in Physical Inventory and Receiving labor
• Reduced Shrink – Cut your losses from shrink by an average of 25% when you identify theft earlier
• Fewer Lost Sales – Increase sales with better on shelf availability and improved re-ordering 
• Happier Customers – Shoppers can find what they want based on accurate stock levels

About RIOT

RIOT is the developer of RIOT Insight, the industry’s first turnkey RFID inventory system, and is now Retail Pro International’s official RFID partner with RIOT for Retail Pro. Leveraged in over 4000 stores in 32 countries, RIOT for Retail Pro dramatically decreases the time required to count physical inventory in stores, helping retailers quickly achieve 98%+ inventory accuracy to support online sales and store pickup. For more information, visit www.riotinsight.com

Augmented reality – once associated with the wearing of clunky glasses and feeling disoriented – is finally coming of age. By teaming up with social media, brands have successfully implemented AR to allow prospective customers to virtually “try before they buy.”

Augmented Reality goes social

The social media platform Snapchat may have pioneered it, but Facebook, Instagram, Pinterest and TikTok quickly followed with their own lenses, filters and effects. And retailers from Target to Gucci have realized its value not only for entertainment and brand awareness, but also for selling products.

The technology was given a huge boost in the wake of the retail lockdown last year, a result of the COVID pandemic.

Stuck at home and bored, would-be shoppers wiled away the hours with AR filters and lenses available on social media. Advertisers soon took notice of how filters and lenses could be used for virtual try-on and other experiences.

Seeing how that pair of Gucci sneakers is as easy as pointing a cell phone camera at your feet. And experimenting with makeup is much less messy using Sephora’s Snapchat lens.

Developments in AR

While the technology has improved greatly recently, there are still some limitations.

For example, while a customer can visualize just how stylin’ those kicks will be, AR can’t size the shoes. That’s unfortunate, because returns are a huge sore spot for retailers, particularly those selling apparel. The issue is that today’s cameras depth perception can’t accurately determine size.

Once AR technology improves enough to reliably size clothing, demand will likely skyrocket; currently, Snapchat says it has 200M daily AR users. That could translate into millions in revenue.

Social shopping to drive in-store traffic

Well-established brands such as Sephora have the best of both virtual and physical commerce. Using Snapchat, customers can take and share pictures of themselves trying on new makeup styles.

Social shopping lets the customer’s friends weigh in on the buying decision, and the product can be purchased directly through the app.

But the experience online helps to drive in-store traffic as well. Creating a fun, memorable AR experience on a social network helps customers remember the brand, which can prompt them to visit it in-person.

Those companies become “top of mind” for particular types of products. In addition, social shopping apps can promote store events and are effective for location-based marketing as well.

Snapchat’s “ephemeral” nature helps create a sense of urgency and builds a sense of exclusivity. Today’s Generation X shoppers in particular crave exclusivity and limited-time offerings.

AR can attract the “right” buyers by providing an engaging customer experience on social media platforms. That interactivity can benefit a brick-and-mortar channel as well, by bringing attention to the brand as an innovator willing to meet customers’ needs in person as well as virtually.

2 Retail Uses of Artificial Intelligence in a Post-COVID World

Contactless payment and Augmented Reality: CX aids during COVID

Shoppers love the convenience of online shopping, but still want the benefits of visiting in-store, which is why having an omnichannel presence is so important.

A unified commerce experience means shoppers can start in-store and finish the purchase online – or vice versa. Returns are easy and customers can even plan their in-store trips with updated inventory available at a mouse click.

Driving both online and in-store sales

Unified retail can offer the customer flexibility to shop how and when they want, while also giving them targeted and appropriate offers and recommendations that are exclusive and will enrich the overall experience. 

Digital doesn’t just drive e-commerce; it also gets people in stores. 

Smartphones have become a personal shopping assistant for people once they’re inside. Marketing strategies must therefore accommodate customers and help them buy products and services on any channel. 

Research has found that omnichannel shoppers have a 30% higher lifetime value than those who shop using only one channel. Unified retail helps convert shoppers to buyers seamlessly and with minimal effort on their part.

Retail Pro Prism: Tracking inventory needs and movement in COVID-19’s accelerated Omnichannel

Stop the Silo

Many retailers are still running on systems that operate independently of each other, with data unintegrated between the two systems.

Siloed information stores information in separate databases and servers. A better system communicates between data and connects all applications, including e-commerce but also POS, back office, vendor supply chain, mobile and order management.

That type of integration can mean, for example, that inventory can easily be moved from a web warehouse to a store and associates can anticipate and plan for that shipment.

Better stock visibility and operational time savings like this can help retailers improve decision making and efficiency, which will be key to scaling brand growth.

Create Better Profiles

With siloed data, brick and mortar retailers only see a subset of information about their customers – the part that is reflected by in-store sales. Likewise, e-commerce sites can only recommend products based on previous online purchases.

Investing in a 360-degree view of the customer provides holistic visibility and provides data on which to base predictive models.

Customer information can be varied and may include: past purchases, contact information, size preferences, website browsing history, wish list, and customer service interactions.

Armed with more complete customer profiles, retailers can shape more personalized offers and experiences, helping customers get what they need and enjoy from the retailer.

Retailers going omnichannel pass on tech benefits to customers

Calling all Products

Retailers seeking to unify commerce should determine how product information should be formatted, and then consolidate all of it into a single location.

That will result in fewer redundancies and errors in product information and will allow you to trace and manage products more easily. Retailers should also invest in technology that helps associates check inventory in real-time on the sales floor.

A better handle on products and their availability will help retailers ensure customers don’t leave disappointed by out of stock situations but rather have their need met, even if via a different store in te retailer’s chain.

Unified retail is the next step in providing superior customer experiences. By implementing solutions that work to provide enhanced communication between inventory and the customer, retailers will see more robust sales and, potentially, repeat business due to a more responsive, personalized experience.

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

Omnichannel retailers aim to satisfy customers no matter how they choose to engage: Online, in-store or a combination of the two.

It’s never an easy feat, as success depends upon a tightly integrated front and back end in order to provide customers a seamless, successful shopping experience.

But since reopening after COVID-19 lockdowns, many retailers have had to carefully assess how they were navigating the use of store inventory for their omnichannel order fulfillment strategies.

Inventory visibility across channels

Management of inventory is a particularly thorny issue for any retailer with an omnichannel philosophy.

The retailer must first accommodate multiple sales channels simultaneously: An online shopper must be able to “see” what products are in stock just as easily as one who is physically in the store.

Then, the retailer turns that multi-channel strategy into an omnichannel one when, for example, it allows a customer to: shop for items on a mobile device; log onto a retailer’s site hours later on a computer and access the same shopping cart; check availability online and place an order for curbside pickup.

Discrepancies in physical inventory counts

Many retailers were able to launch – and maintain – a buy online, pickup in store (BOPIS) strategy.

However, since stores reopened, inventory counts are becoming muddled as retailers had been using store inventory to fulfill online orders.

Being able to reconcile what has just been purchased online with in-store inventory – and meeting the expectations of both types of customers — is a gargantuan task.

Customers should never see an item in stock online and discover it is sold out once they reach the store.

Some of the reasons for such discrepancies include:

Shrinkage: Shoplifting and employee theft account for substantial loss of inventory. Fraud and administrative errors are also to blame.

Data inconsistency: Online ecommerce, in-store POS systems aren’t tightly integrated or are being manually updated, so floor count may be inaccurate.

Resource strain: Sales associates are performing fulfillment tasks, so they have less time to help shoppers on the sales floor locate items.

Payment timing for BOPIS orders

In addition, payment timing can cause inventory challenges. Items that are part of orders that are paid for online but picked up at a store are likely removed from inventory earlier than those that are paid at the time of pick up.

Paying before pickup not only expedites that process for ecommerce shoppers, but for those in-store as well. In-store shoppers experience longer wait times when online customers must join the line to pay and pick up their orders.

Poor fulfillment has a significant negative impact on customer retention. It is difficult to have the entire picture of what inventory is where throughout all channels.

Having accurate inventory visibility – which provides stock, order monitoring and tracking information — is crucial for a successful retail operation.

That requires a combination of technologies such as POS software tied to barcode scanners, RFID, warehouse execution software, etc.

The result is a retailer that meets, and sometimes exceeds, customers’ needs.

In-store shoppers, in-store fulfillment: Planning for inventory challenges

Operational growing pains during COVID-19: Inefficiency stemming from poor data visibility

3 Expensive Flaws in Inventory Management

A successful omnichannel strategy depends upon having accurate inventory and timely order fulfillment.

Because retailers are fielding orders from different sources – including online purchases with home delivery, online purchase with an in-store pickup (“click and collect”) and in-store purchases —  keeping track of those sales and inventory is mission critical.

Omnichannel inventory management helps the customer make purchases confidently

Robust inventory management provides the means to get the correct products to customers quickly and efficiently.

Omnichannel inventory management is integrated across all sales channels, offering clear data visibility to retailers, as well as stock information to customers. It’s often coupled with smart warehousing, which automates back-end decisions and tasks, improving employee efficiency.

Omnichannel inventory management ensures that customers who want to use different devices and buy through various platforms are able to do so successfully. Omnichannel is a unified process in which each platform communicates with another, creating a seamless whole.

While multichannel retailers sell using many platforms, most of them are unintegrated. Store and online inventory management must be integrated with your other systems, including order and CRM software.

By integrating the inventory management systems, retailers have improved data visibility. All data on sales, suppliers, returns are in one centralized location.

When orders are placed – in any channel – stock is updated in real-time. Therefore, all employees, from the inventory picker to the store manager to the customer checking online supply, can be confident in the data they access, even if the orders were placed in a different country or channel.

RFID innovates, making taking inventory fast

Despite the heavy-hitting technology omnichannel retailers rely on today to conduct their daily business, physical inventory counts continue to be invaluable.

Such counts verify inventory and ensure there are no variances caused by overages or shrinkage, for instance.

However, this activity doesn’t have to be manual. RFID technology can help speed up inventory counts while providing workflow automation.

An RFID tag is placed on stock and read with a handheld device. RFID can scan or “read” many items at once and doesn’t require line of sight.

Products or pallets can be quickly read without positioning the tag directly in front of the reader, a big advantage in warehouses or other dense environments.

How RFID further empowers omnichannel operations

Keeping inventory counts accurate requires the integration of in-store POS that reflects the actual count on the floor, which is reflected in online data.

Although back-end technology is important to maintain accuracy, inventory is a customer-driven aspect of business.

Improving practices and systems assists retailers to meet more customers’ expectations, increase satisfaction and retain more customers.

Tailoring an omnichannel inventory management system to focus on customers helps retailers reap the benefits of having a loyal, satisfied customer base.

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Post pandemic, big retailers think small

Even before COVID-19 forced retailers to embrace a “new normal,” the retail landscape was changing.

Retailers were already evolving to better understand their customers’ preferred ways of shopping — the pandemic just encouraged them to move more quickly and to embrace alternate channels of commerce.

Here are a few ways retailers originally introduced to keep customers coming, but are likely to continue because of their benefits.

Transforming stores from customer-side to supply-side

Early on in the pandemic, retail was hit with a lockdown that effectively closed storefronts.

Innovative brick and mortars transformed from being customer touchpoint locations to becoming crucial nodes in the supply system.

Temporarily closed sites became mini warehouses that could deliver products ordered online or offering click-and-collect services.

Others tested automated fulfillment centers at the back of existing stores. That flexibility made store space more productive, something retailers continue to assess.

Accelerated ecommerce growth

With mandated store closings of physical locations, retailers focused on their ecommerce channels.

For example, fewer than one in five Western European consumers had purchased groceries online before the pandemic.

Although grocery stores were considered essential businesses and allowed to remain open during lockdown, hours of operation were reduced due primarily to low staffing, and customers felt safer ordering online and either picking up in person or having packages delivered.

For Western Europe, the impact was dramatic: According to the consultancy Alix Partners, the pandemic may have advanced those countries four to five years into the future.

A significant number of those customers who had never bought food or groceries online are likely to continue doing so, which in turn led retailers to implement digital payment methods.

Contactless payments

In the past 15 months, the use of cash declined, due to concerns it was a means of spreading COVID-19 and other germs.

The surge in the demand for contactless payment led to outstanding performances for major companies. The offering is shifting from being “nice-to-have” to being essential.

During the past few years, U.S. shoppers have gradually decreased their use of cash.

In 2019, Experian reported that 1-in-10 millennials used their digital wallet for every purchase.

There has already been a notable decrease in cash usage over the past few years.

And nearly a third of U.S. adults said they typically make no purchase using cash during a week, according to a study by Pew Research Center.

The Forrester/NRF State of Retail Payments study, released last August, found 67 percent of retailers surveyed now accept some type of no-touch payment.

That figure includes 58 percent accepting contactless cards that can be waved past a card reader or tapped on the reader, up from 40 percent in 2019.

In addition, 56 percent take digital wallet payments on mobile phones, an increase from 44 percent.

The corona virus caused unprecedented disruption, innovative and flexible retailers created ways to continue to provide customers the products and services they needed in ways that were accessible.

They learned how to successfully navigate through difficult circumstances while still accommodating customer requests.

Those types of actions build trust, which is an essential part of getting through any crisis.

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In-store shoppers, in-store fulfillment: Planning for inventory challenges

Today’s customers are looking for a seamless purchasing experience, whether that’s in-store, online, or a combination of both. But the so-called “last mile” — the time it takes for a shipment to reach a customer —can be a thorn in the side of a retailer. Enter in-store fulfillment. 

Benefits of in-store fulfillment

Mounting shipping costs are costly for retailers who are reluctant to pass them along to customers who are looking for the best price for every item, as well as free shipping. 

By offering in-store fulfillment, the delivery process can be seamless as customers choose from curbside delivery, click and collect, and buy online/return in-store options. 

Employees can address customer requests in real-time, monitor inventory, and deliver attentive service.

In-store fulfillment means retailers no longer have to route products exclusively to a warehouse.

Nordstrom and Kohl’s are excellent examples of putting the strategy into practice. 

They can fulfill orders from the store closest to the customer’s location, leveraging their stores as fulfillment centers and shipping orders directly to customers, reducing costs and speeding up deliveries.

Requirements for in-store fulfillment

While the benefits are clear, implementing in-store fulfillment requires an omnichannel strategy in which inventory data is tightly integrated across ecommerce and the in-store POS. 

Ship-from-store, ship-to-store, and in-store pickup can then be handled with one solution that optimizes in-store inventory usage and reduces the time and cost for fulfilling online orders.

Perhaps the most daunting part of the process is getting a 360° view of inventory by connecting data from e-commerce sales with in-store transactions. 

Determining the correct timing for syncing online data and orders with in-store POS is vital; solutions can be configured to sync data at any interval, including real-time, hourly, nightly, or at other intervals that make sense for a retailer’s operations and network capacity.

If syncing lags, inventory can fall behind, and there’s a risk of selling out of products that have already been committed to online orders. 

With seamlessly connected channels, shoppers can buy products online and pick them up in the store that same day. 

Store associates can receive pick lists to select and package the products ordered online. 

Selecting off-the-shelf products increases inventory turn and decreases the duplication that comes with holding a separate online order inventory.

In-store fulfillment completes the frictionless purchasing experience. 

Customers get quick, free delivery — often receiving their items even faster than ordering online. 

Retailers, in turn, move inventory more rapidly, helping to maintain price stability. 

Both shoppers and retailers benefit from a more efficient customer experience.

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