The retail landscape is evolving. Is your company evolving with it? As we speed down the technological highway of digital evolution, retailers who try to operate under archaic production and service methods are in trouble. They find their operations are thrown up in the air and they’re scrabbling to keep up with competitors, while their systems are out of date. Half the time they don’t even know what they’re trying to keep up with because the channels required to meet those demands change so often.
Retailers are finding themselves in a quandary thanks to the age of instant gratification, less patience, and more demand. Some are keeping up the pace while others are dropping like flies. Do you know why? Here’s the bottom line, it doesn’t matter if you have the latest Omnichannel suite to help your consumers buy your products from their tablets, phones or desktops, consumers want to know that you have what they need when they need it. If retailers are not upgrading, improving or installing new POS systems to help with keep count of their stock, they’re out of the game.
Basically, know what stock you have to help meet client demands. If you don’t have it once, you’ve lost a client, if you don’t have it twice, forget about that consumer ever coming back. Is your current POS system meeting your consumer demands? If not, it’s costing you more than you know.
Inadequate POS functions will cost you clients. That’s money gone, straight out of your pocket. Studies done by Accenture Global, found that clients are less likely to return due to poor product availability as opposed to cost. Do you want your store to be the one on the corner with dusty products that haven’t been touched in years? Or do you want to close down?
So you’ve invested in a POS system, but you went the cheaper route because you were trying to save money. Given how often you’re using this machine and its many functions, have you considered the amount of wear and tear it can take? Cheaper is costlier in the long run due to the amount of maintenance required. Upgrading to a durable and efficient POS system is an investment in the future of your client retention and your profit margins.
It’s also essential to ensure that your current POS system meets the innovative technological demands of today. Is yours up to date with the latest client demands, such as price on demand?
As mentioned earlier, the evolution of technology and demands of consumers mean that your current system may not be enough to meet the demands of consumers. You also need to take into account that your clients are getting younger and their idea of shopping is very different to that of their parents, and young clients drive the evolution. If your current POS system is behind the times, you are going to lose consumers and money. If it cannot access the information require at the drop of a hat, give consumers exactly what they need when they need it, and doesn’t integrate with new-age technology, you’re on the back foot.
If your production environment has changed to include cold rooms or damp production lines, you need to consider whether or not your POS system can keep up with harsher environments. There are several systems out there that are designed to withstand extreme elements while still maintaining stock control and meeting consumer requirements. Your services and products may meet client demand, but if clients can’t access what they need because your system can’t meet your demands, you’re looking at losses.
There is so much to be said for the right kind of point of sale system that can handle harsh environments, seamless integration with evolving technology and the high-level physical demands placed on it every day. If your POS system is not meeting these demands, you may need to consider that it’s costing your client, and a lot more money than you may realise.
When it’s time for an upgrade, you need to contact Arch Software, the innovative POS system developers and installers who understand how and why your business needs to stay on top of its game.