The Importance of Physical Retail

Due to the pandemic eCommerce sales greatly increased as many more consumers opted for an online retail experience, but eCommerce still makes up a small percentage of total retail sales. The majority of retail still happens in physical locations. There are many reasons why retailers should invest in their physical locations, with the most notable being increased sales. 

 

According to KPMG research, the top reason why consumers prefer to shop in physical stores is to see, experience and test products in person before buying them.” Seeing the physical product helps cement the sales decision with many consumers and also lowest the return rate as customers can correctly choose the right product fit. Research has also shown that customers are more inclined to buy additional products when shopping at a physical store. Decreased returns and the purchase of additional items both increase profit for retailers. 

 

Another reason to invest in your physical location is the ability to use it as part of your supply chain. Using a physical store dually as a warehouse will streamline and reduce the costs of inventory management. The easy availability of stock to customers will help increase sales, while decreasing logistic costs. 

 

According to a survey from Harvard Business Review, shoppers who buy both online and in physical stores tend to spend more on average compared to those who interact with a business on only one channel.” The future of retail is omnichannel and retailers should not neglect to invest in both. A modern and fully integrated retail solution like LS Central should be an essential part of any retailer’s business in order to provide a seamless shopping experience, both online and in-store. 

 

For further information on LS Central please contact allonline365 on +27 (21) 205 3650, or email us on info@allonline365.com, or visit our website www.allonline365.com 

 

 

LS Central – The Future of Omnichannel Retail

Omnichannel retail is the integration of both online and physical commerce experiences, and is the key to brand resilience in the coronavirus crisis. During these uncertain times consumers appreciate and enjoy the ability to choose their shopping experience, whether that be online or in a brick-and-mortar store. Unifying your retail experience for consumers has many benefits such as data availability, increased sales and a boost in customer loyalty. 

 

Unified omnichannel commerce allows for instant stock visibility on all shopping platforms, and a view of consumer habits to personalize and improve the retail experience. “According to Forrester research, 71 percent of customers expect to be able to see available inventory online. Easy access to product availability is more likely to convert visitors into shoppers, and therefore grow your customer base.  

 

The collection of data with omnichannel commerce allows retailers to turn their data into action. The ability to increase customer engagement through personalized communication and offers, which results in an expanded and diversified customer base. Although just the collection of data is not sufficient as many retailers use separate, badly-integrated solutions. A unified commerce solution that captures all your customers’ shopping behaviors and collects that data in one place can create a complete view of your customers. 

 

The future of retail is a seamless and all-encompassing shopping experience. “Retailers that focus on customer experience and respond with agility and innovation in their omnichannel experience will fare better and strengthen their ties to customers.” 

 

For further information on LS Central please contact allonline365 on +27 (21) 205 3650, or email us on info@allonline365.com, or visit our website www.allonline365.com 

Point of Sale Systems – the future is mobile, contactless and personalised

The increase in online and contactless retail has seen a need for more advanced POS systems for a greater personalization of the customer experience. The POS system sits at the heart of retail and improving POS technology has many benefits for both customers and businesses.  

 

A cloud-based POS allows data to be instantly accessed for an omnichannel view of transactions and inventory. This means that businesses have a real-time view of in store and online transactions which are integrated to improve stock management. With this wealth of consumer data available, retailers can optimize the shopping experience and improve business efficiency. Another advantage of a cloud-based POS solution are the automated updates which allow retailers to easily keep up to date with the latest technological changes and therefore can stay ahead of the competition. 

 

In a survey conducted by Accenture, “91% of consumers said they tend to shop with businesses who know them and give offers and suggestions that are relevant to them.” The right POS system allows retailers to personalize customer experiences by using machine learning to analyze past interactions and to recommend products. Intelligent retail will learn shopping behaviors and allow for hyper-personalized product offers and suggestions, therefore improving customer loyalty. 

 

Contactless ordering and payment have become a major consumer concern since the start of the Covid-19 pandemicInteresting developments in contactless technology for example US store Showfields who have developed the app to allow for a complete contactless, in store retail experience. Customers can interact with any product through the mobile App and all products are added to a virtual cart. This gives consumers the option of a completely digital experience on their mobile device whilst having a physical shopping experience. 

 

Retailers need to be creative to keep pace with their competitors, and to make the retail experience as safe and convenient as possible. Modern POS technology will attract and retain a customer base and can embed into core business operations. The solution should be an essential part of any retailer’s business and ensures that they stay relevant in an increasingly digital world. 

 

 

For further information on LS Central POS please contact allonline365 on +27 (21) 205 3650, or email us on info@allonline365.com, or visit our website www.allonline365.com 

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