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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.<\/p>\n
For brick and mortar retailers, physical in-store space is finite, and what\u2019s available must be used effectively.<\/p>\n
That is particularly challenging as brick and mortar retailers face the vast breadth of inventory that ecommerce competitors offer.<\/p>\n
However, sometimes that enormous ocean of product can overwhelm customers.<\/p>\n
\u00a0<\/strong><\/p>\n <\/p>\n Traditional retailers can augment what\u2019s in-store with online offerings, but one of the highlights of being brick and mortar is the ability to offer \u201clook and feel\u201d in a curated environment.<\/p>\n The \u201cinner sanctum\u201d of any retail store is the inventory area.<\/p>\n Making the most of that space will save any retailer money.<\/p>\n 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.<\/p>\n However, retailers must have \u201cthe right\u201d inventory on hand so shoppers don\u2019t leave stores empty-handed.<\/p>\n Retail inventory management keeps the backend in line with the front-end\u2019s needs.<\/p>\n Good retail management software helps you see:<\/p>\n Getting a handle on inventory management affects a business\u2019 bottom-line, allowing it not only to continue operating, but also to grow.<\/p>\n Without a strong inventory management process, it\u2019s easy to lose track of stock.<\/p>\n Mismanaged items are more easily stolen and seem to vanish without a trace \u2013 precisely because there is no traceability.<\/p>\n 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.<\/p>\n Additionally, not having a firm grasp on inventory levels can also mean running out of stock more easily, missing sales opportunities.<\/p>\n Today, many retailers offer a buy online, pickup in store option.<\/p>\n Not having inventory in sync with on-hand counts is a customer experience disaster.<\/p>\n In addition to keeping accurate inventory numbers, some stock management can be handled within the product displays.<\/p>\n The cost of storage depends upon the amount of inventory needed to be stored.<\/p>\n Planograms, or the blueprint of a store\u2019s layout, can help retailers improve sales with visual merchandising.<\/p>\n <\/p>\n <\/p>\n Today\u2019s 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.<\/p>\n Therefore, it\u2019s important for stores to \u201cdigitize\u201d by providing personal recommendations, customer reviews and increased assortments, so that when customers enter a physical store, their expectations are met.<\/p>\n Planograms help to arrange merchandise in a way that catches the customer\u2019s eye, organizing in a way that provides more room on your shelves, and helps estimate how much to place on the sales floor.<\/p>\n Brick and mortar retailers should focus on effective use of inventory space.<\/p>\n Too much is as detrimental as too little.<\/p>\n 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.<\/p>\n <\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" 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 … Continue reading Get insight into inventory<\/h3>\n
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Digitize the in-store experience<\/h3>\n