Information is something that every retailer runs off of – it can be details related to inventory processes, customer data acquired from point of sale and other interactions or financial procedures. Whatever the information is, if merchants don't have a solution in place to effectively manage and analyze it, they aren't going to be able to use the data to improve their operations.

According to Retail Customer Experience, Big Data provides a plethora of benefits for retailers. For example, the source explained that by looking at valuable information, such as which customers prefer which products, merchants can easily tailor their offerings and discounts to appeal to patrons who are looking for certain items. This in turn not only brings in more revenue for companies, but it also establishes customer loyalty. Taking the time to analyze this information  will significantly help merchants retain their shoppers and even bring in new ones, the source noted.

So what else can retailers use Big Data for? Business Insider asserted that information related to employees' performance, merchants' weaknesses and strengths as well as inventory processes give companies the insight needed to make important improvements. But having a solution, such as retail management software, to keep all of this information is one of the most vital pieces of the Big Data puzzle.

This entry was posted by Retail Pro on Tuesday, July 9th, 2013 at 6:46 am .

Making processes and operations more streamlined is something that professionals in all industries aim to do. This is an especially significant goal for retailers, as the many different aspects and elements they have to deal with on a daily basis can get confusing if not managed effectively. Fortunately, there are software solutions available for merchants to ensure that their operations run as efficiently as possible by maintaining control of their procedures from one single platform.

One such technology is the Genius Customer Engagement Platform, which has now been rolled out to specialty retail stores throughout the U.S. under a partnership between Merchant Warehouse, the developer of Genius, and Retail Pro International. So what benefits will these retail companies experience through the new platform? For one, being able to process all existing and future payment methods is one advantage, as it means that merchants will be able to accommodate all customers no matter their preferred way of purchasing items.

In addition, the Genius technology allows retailers to manage all of their customer engagement, loyalty and retention programs. Through the platform, companies can collect valuable patron data at the point of sale and through other interactions, and then use that information to enhance their loyalty initiatives by offering coupons, discounts and other deals.

This entry was posted by Retail Pro on Monday, July 8th, 2013 at 6:49 am .

For larger retailers, the amount of customer data, inventory processes and other vital operations dealt with on a daily basis have created a significant need for technology to effectively manage all of this information. It may seem that for smaller merchants, new solutions and systems aren't needed as much to keep operations going, but the fact is that these independent retailers can see the same benefits from technology systems that their larger counterparts experience.

Forbes Magazine noted that many small retail outlet owners may think that technology could be a waste of time, as they are rooted in their old ways of doing things. However, solutions such as retail management software can help merchants oversee their companies more effectively and highlight areas that need improvement. The source asserted that software systems will become even more important as the current push for buying from smaller retailers continues to spread. Many consumers prefer shopping with independent merchants as they focus more on customer service, and this will result in more business, meaning that companies will need technology in place to deal with increased sales and customer retention rates.

Solutions such as point of sale software help merchants accept and process all payment forms as well as gather customer data that can be used to enhance service strategies and capture new patrons.

This entry was posted by Retail Pro on Wednesday, July 3rd, 2013 at 11:04 am .

When considering whether to adopt new methods and practices, retailers know that it can't be done haphazardly. These kinds of decisions take time to ensure that the right approaches and strategies are being implemented. This is especially true when it comes to incorporating new digital technologies into operations.

In fact, recent research from O2 found that if merchants don't take the time to research and determine which digital methods are best for their companies, they could lose significant amounts of money. ComputerWorldUK reported that the O2 study revealed that many retailers in the United Kingdom are either not adopting digital solutions or are implementing the wrong ones for their operations, and this is costing approximately £12 billion in missed revenues.

This large loss is partly due to poor digital engagement through new channels and systems, as the source explained that customers are less likely to do business with a brand that does not provide streamlined communications through in-store and online experiences. The study revealed that 56 percent of consumers think that digital interactions with retailers are more convenient. This highlights the growing need for merchants to adopt technologies that accommodate their patrons, but careful research and dedication needs to be part of this process.

This entry was posted by Retail Pro on Wednesday, July 3rd, 2013 at 3:04 am .

Conditions have been steadily picking back up over the past year as the U.S economy continues to improve. This has been welcome news for retailers, as they saw their revenues slip during the recession. Now, as consumers become more confident and increase their spending levels, merchants are happy to adapt to this change and get back to normal operations.

According to AFP, consumers visited retailers' brick-and-mortar locations and websites in large numbers last month, which helped to boost spending nationwide. Data from the Commerce Department revealed that spending rose 0.3 percent in May from April. This could be due to the fact that personal income also grew month-over-month by 0.5 percent. Compared to the same time last year, spending gains were more significant, with an increase of 1.8 percent, the source noted.

Another contributing factor to more spending could be a recent sharp rise in consumer confidence. The Associated Press reported that the latest Consumer Confidence Index from The Conference Board  jumped from 74.3 in May to 81.4 in June, reaching its highest level in five years. Americans are more optimistic about the nation's economy as well as their own financial conditions, which is resulting in more spending on retail products. 

This entry was posted by Retail Pro on Tuesday, July 2nd, 2013 at 4:23 am .

Mobile devices are being increasingly used by consumers for shopping, both in brick-and-mortar locations and for ecommerce. In merchants' storefronts, these gadgets have been mostly utilized for researching, comparing and browsing for products. However, now they are being used to complete transactions, as customers like the convenience and speed mobile devices provide during the check out process.

Mad Mobile News reported that mobile point of sale solutions are getting more focus from retailers across the world, as many businesses are seeing a change in shopper demands for these systems to be in place. However, the source noted that many merchants are not eager to adopt the technology, as they aren't exactly sure if the payment method will take off in the near future. The source asserted that as consumers continue to use their mobile devices for a variety of daily tasks – including shopping – merchants will see just how important it will be to implement mobile POS solutions into their operations.

By doing this, companies can significantly boost their retention rates and create loyal patrons. For retailers that are hesitant about managing yet another payment form, finding the right point of sale software is the answer. These platforms are able to process all transactions and provide customers with an easy and fast check out experience.

This entry was posted by Retail Pro on Monday, July 1st, 2013 at 7:48 am .

When shopping with a brand, customers want to know their business is appreciated. If they don't feel this way, they could easily turn to shopping with another merchant. Fortunately, personalized interactions are one tool that retailers can use to ensure their patrons feel valued, and businesses can use point of sales software solution to gather vital information that can help them make customer communications more personal.

There are many details pertaining to consumers that merchants can gather, but without the ability to store, access and analyze this data, how can businesses ensure they are effectively leveraging this information to boost personalization initiatives? This is where point of sale software can help. Retail Leader noted that this technology not only processes payments, but it collects a variety of customer data, including gender, age, geographic location, products bought, preferred shopping and communication channels and much more.

With this information in their possession, merchants can then look at the data to determine what future products would appeal to patrons and send them relevant offerings based upon these details. Additionally, interacting with customers through their preferred channels provides businesses with the opportunity to increase engagement and, ultimately, their revenues.

This entry was posted by Retail Pro on Monday, July 1st, 2013 at 3:18 am .

Mobile devices provide a wealth of benefits for consumers. With these gadgets, people are able to keep in touch with others, check email, stay on top of work tasks and many other factors. Now, these gadgets are offering advantages for retailers as well, as brands can utilize them to offer more personalized services, which in turn boosts loyalty.

EWeek reported that, according to a study by EPiServer conducted at the Internet Retailer Conference & Exhibition, a large number of merchants already are or are planning to use mobile to build customer loyalty. The research revealed that 46 percent of brands have mobile strategies currently in place to increase retention. Seventy-four percent are planning to implement similar plans in the near future, the study detailed.

These findings highlight that mobile methods can be used to effectively establish loyalty. But how do retailers do that exactly? One strategy is through personalization, as suggested by Bloomberg Businessweek. The source recommended that when providing shoppers with personalized messages through their mobile devices, merchants should keep flexibility in mind to boost loyalty. Discounts and deals offered by mobile are one way to accomplish this, as well as in-store mobile options that allow customers to use their devices when shopping, the source explained.

This entry was posted by Retail Pro on Friday, June 28th, 2013 at 1:17 pm .

Technology has been changing the retail industry over the past few years in a good way – consumers are spending more time online, so merchants are now offering ecommerce platforms and mobile solutions to accommodate these shoppers. There are many digital aspects that are getting more focus this year as businesses look to expand their operations and bring in new customers.

Mashable reported that there are several new digital elements that are being invested in as merchants incorporate additional technology to better serve customers and boost sales. The source reported that brands are giving more attention to online customer service through live chat and quick email responses. Another digital tool merchants are using is personalization technology. Consumers want messages and other interactions tailored to their wants and needs, so businesses are adopting solutions that help them provide this.

Social media channels are getting more focus as well, the source noted. Brands are uploading videos, sending marketing messages and answering customer inquiries through these networks, and many are seeing positive results, Mashable explained.

These digital elements could help merchants boost their revenues and build solid customer bases. In addition, retail management software can help businesses oversee all of these aspects and more to spur success.

This entry was posted by Retail Pro on Friday, June 28th, 2013 at 11:31 am .

Retailers follow many strategies and methods to ensure their operations are running as smoothly and efficiently as possible. Now that ecommerce has taken the industry by storm, merchants are implementing solutions that oversee their online processes. But without the right solution to manage these aspects, businesses could be setting themselves up for failure when it comes to providing Internet shopping options for customers.

Fortunately, Retail Pro E-Commerce can help retailers maintain control over their Web operations and successfully grow their companies. Interested professionals who want to learn more about the platform and how it can benefit them can join tomorrow's Retail Pro E-Commerce webinar. The event will be held from 8 a.m. to 9 a.m. PDT. Registration information can be found at https://www2.gotomeeting.com/register/353520114.

Webinar attendees will have the chance to see live demonstrations and participate in discussions about Retail Pro E-Commerce. The various features, benefits and capabilities of the technology will be showcased. For example, retail professionals will learn how Retail Pro E-Commerce gives them the ability to develop their own webpages or choose from several templates to build upon. In addition, the platform serves as one single solution for merchants to store sales orders, manage inventory and oversee customer loyalty programs, among other elements.

This entry was posted by Retail Pro on Friday, June 28th, 2013 at 11:31 am .