Let’s first understand what role technology plays anywhere and not just retail – Automation. The key is to enable a machine to perform tasks that can be executed repeatedly with a standard set of instructions without getting tired. This enables the human mind to function and focus on what is more important.
Especially in retail business, technology provides you the platform to better satisfy your customers by helping you concentrate on their needs. Because happier customers means more business.
Small and medium business is said to be the most vital part of any economy of a nation.
“Oh, I’m all about small business. I think what we’ve learned from big business and big Wall Street is that unchecked greed and the creation of false value gets us all in trouble. If we look at the American economy, who’s really creating value? It’s the small businesses.”
If small retailers are the backbone of the economy, why do most of them ignore the potential to grow faster with technology? It seems like most other verticals, everyone seems to think that a sophisticated system is only for the large enterprises and that it’s something they don’t need.
Well, we beg to differ.
Let’s run through the advantages of adopting technology into retail business:
Consider a customer at a retail store who has selected few goods and is waiting at the counter for billing. The clerk at the counter scans through the items at the POS (Point of Sale) and generates the final bill.
Now, from this practice what the retailer gets is data about the customer. Data pertains to the type and number of products the particular customer purchased. An accumulation of this kind of information enables the retailer to have an understanding of the pattern of inventory flow and this helps in getting the required items and avoid stock outs.
When the various departments involved in your business use technology to function, it gives a whole new dimension to it. Technology ultimately results in obtaining accurate results along with saving a lot of time, which cannot be obtained all the time with manual labor.
Technology helps control all activities within your offline and online store at ease, as there are software platforms at extremely affordable prices for all of these.
Better integration and communication
Using technology it is now possible to control all of your business operations from a single dedicated system. Imagine the amount of time a seller would be able to save with this practice. With an increase in the number of stores or/and increase in the inventory, gathering of information and managing it becomes tough. Only technology will simplify these complex situations.
Real-life shopping experience online
The world has seen constant growth in the eCommerce industry. There has been constant effort to create online shopping experience for users aligned with consumer preferences. Interactive product display and personalization are enabling retailers to better satisfy their customers. Online retail is bound to see an upward run in the coming years with the aid of technology.
In an extremely competitive world as ours, adopting technology is a requisite factor to succeed. With the right technology and know-how, one can also predict the amount of sales that can be made during a certain promotion. It has been observed that one of the main reasons why some retailers don’t succeed is that they fail to use technology to their advantage. So, it’s high time that sellers realize this fact and move forward and grow.
Primaseller believes in providing solid yet simple technology for retailers’ advantage and growth. We develop a software platform that enables the seller to manage all inventories and orders across all stores and channels from a single dedicated panel. Selling on online channels like Amazon, eBay, Shopify, and Magento is also ridiculously simplified. Would you like a quick demo?