By Rieva Lesonsky
Sponsored by Microsoft
Technology is transforming the retail industry, bringing new challenges and new opportunities. Retailers who put technology to work for them will see greater efficiency, happier customers, and bigger profits. As we look ahead to 2017, here are three technology updates every retailer should make for success in the New Year and beyond:
1. Embrace the cloud.
Using the cloud for data storage, software and collaboration is key to taking your retail business into 2017. Cloud-based solutions such as Microsoft Dynamics for Retail streamline and simplify your retail operations in multiple ways:
- Scale up or down as necessary. For example, it’s simple to scale your cloud-based software during the busy holiday shopping season, then dial it back during slower months when you have fewer staff.
- Streamline your supply chain. Since cloud-based tools such as Microsoft Dynamics 365 let you access data anywhere, you can easily monitor factors such as inventory levels, customer demand, and shipment status in real time.
- Speed up service. Combine cloud technology with mobile devices, allowing store sales associates to save a ton of time. With mobile devices in hand, they can quickly find information for customers, check stock levels, or even ring up sales.
- Strengthen security. Look for cloud technology that’s built for retail and has enterprise-level security to keep your customers’ payment information safe. The right solution will offer greater security than you could possibly provide by storing data on your own servers.
2. Think mobile.
According to Adobe Digital Insights, fully half of in-store shopping visits last year were driven by a mobile device. From Millennials to moms, shoppers use mobile devices to research products, find stores, and get directions. Mobile use continues in store, where shoppers turn to their phones to read product reviews, look up features, and compare prices. To upgrade your mobile game:
- Free the Wi-Fi. Make it easy for customers to use their smartphones in-store by setting up free Wi-Fi. (Keep it on a separate network from your business Wi-Fi connection for security.)
- Keep mobile in mind. Maximize mobile marketing by creating a mobile-friendly website and implementing digital loyalty programs customers can access on their smartphones.
- Market to their pocket. Sign customers up to receive text messages from your store, then use geofencing technology to send them coupons, promotions, and special offers when they’re near or in your store (or even your competitor’s store).
- Transform the shopping experience with in-store tablets. Give salespeople Windows tablets so they can instantly look up product information, check on inventory levels, place orders, or pull up promotional offers.
- Modernize your checkout. Combine tablets with mobile payment technologies to shorten checkout lines by ringing up sales anywhere in the store. If you really want to speed up sales (and attract Millennial shoppers), you should also accept mobile payments via Apple Pay and Google Wallet.
3. Create a seamless omnichannel experience.
Remember when it seemed like e-commerce might make brick-and-mortar obsolete? Instead, online and physical retail are merging into one omnichannel world. Your customers now expect to start researching products on their tablets at home, put products in their online shopping carts on their desktops, and then head into your store to touch and see the goods before they buy.
To provide the seamless omnichannel experience your customers want:
- Empower your team. Set up your retail employees, particularly your customer service agents, with cloud technology and mobile devices so they can quickly find the information they need to answer customers’ questions or help with problems.
- Simplify the shopping experience. Many customers like ordering products online and picking them up in store. Others want to order online and return the product to a store if they’re not satisfied. Avoid confusion and keep customers happy with a cloud-based solution like Microsoft Dynamics for Retail. Track sales, inventory, customer purchases, payment information, and more all in one place.
- Get personal. Customers want the personal touch, whether they’re online or in-store. Customer relationship management (CRM) solutions like Microsoft Dynamics CRM make personalization simple by gathering data about customers’ purchasing habits, social media interactions, use of coupons and promotions, and more. Use what you learn to reach out to customers wherever they are, online or off.
Keep It Simple
The key to making these tech upgrades work? Keep it simple by choosing tech tools that use familiar interfaces, like Microsoft Office 365. Since it’s built on the Windows applications your employees already know how to use, there’s no downtime getting up to speed and you will start seeing the benefits immediately!
Be sure to read the other articles in this series:
6 Ways Cloud Technology Can Enhance Your Retail Business
To Succeed in Retail, Collaboration With These 3 Groups Is Essential
About the Author
Rieva Lesonsky is CEO of GrowBiz Media, a media and custom content company focusing on small business and entrepreneurship. Email Rieva at rieva@smallbizdaily.com, follow her on Google+ and Twitter.com/Rieva, and visit her website, SmallBizDaily.com, to get the scoop on business trends and sign up for Rieva’s free TrendCast reports.
