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Retail Technology Tip #8 From Storis: Summer Evaluations

Furniture World News Desk on 6/21/2016

Summer is a great time to consider new business strategies. It may be a slower selling season for you, making it the perfect time to think about new ways to enhance your retail operations. Whether it be through new marketing strategies, a staff evaluation or checking out new software solutions, there are many ways you can enhance your operations this season.
Did You Know:
"Online sales are climbing at a double-digit pace and show little indication of slowing" (Kiplinger).

  • Do you have the tools you need to effectively sell both in stores and online? With an eCommerce website that integrates with your software, you will provide your customers with real-time information and a heightened online shopping experience. 

"89% of consumers began doing business with a competitor following a poor customer experience" (NChannel).

  • Are you at risk of losing your Client base due to poor customer experience? Implementing new strategies, like an employee up system or customer database, can help to make your Clients' experience quicker and more enjoyable. Having customer information and buying history will impress your Clients and speed up the sale process. A quick and intuitive point of sale will also help get customers checked out faster, preventing long lines and frustration. 
"90% of consumers are more likely to buy when helped by a knowledgeable associate" (TimeTrade).

  • Having salespeople that are confident about your products will help drive that sale home. Mobile POS solutions can help give accurate, real-time information about product details and inventory count. 
“An estimated $1.1 trillion of capital is tied up in inventory” (Count-It).

  • Do you have an excessive amount of inventory that is just sitting in your warehouse? If so, you are sitting on money that you could have used elsewhere to better your business. Having a firm hold on your inventory by utilizing a slow moving inventory report will allow you to realize what is selling and what isn’t. With the help of reporting you can create a better sales plan to get the old inventory out and a more effective buying plan for the future. Having the tools necessary to smartly strategize will not only enhance your operations, but improve cash flow. 
Evaluating your business practices is a great idea to consider when you are in the midst of a slower selling season. How can you improve your retail operations? Having an intuitive software solution is a great way to make your daily practices more efficient in all aspects of your business. 

More about STORIS: Founded in 1989, STORIS continues to be the leading provider of Retail Software Solutions and Services to Big Ticket retailers of ALL sizes. Over 350 Clients utilize STORIS’ single ERP solution including point of sale, mobile processing, supply chain management, customer care, accounting, ecommerce solutions, business intelligence and more. 

For more information contact 1.888.4.STORIS  or leave a message at https://www.storis.com/contact/ 

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