Revamping the retail experience to perform in the midst of e-commerce hyper-growth
The hyper expansion of e-commerce giants is creating an impression that the Retail chains are dying. Retail stores have been source of major sales before the onset of e-commerce platform. As per the survey conducted by Google, 60% of customers still prefer shopping online with brands which has retail presence as well. Customer experience is an important factor, this can be used as an advantage by retail businesses through their shop experience which is a major drawback for e-commerce businesses. Various options and deals available in stores can be used as a tool to revamp the retail chains. Proper analysis of sales data collected can also help in promoting the right products for the customer.
Physical Store advantages
The first important thing which poses a remarkable impact on a customer’s buying decision is by physically touching a product and purchasing it from a store. Apart from this, there are certain products that need to be checked for their functionality physically before buying it. This requires a retail store presence. Factors like ease of shopping, variety of options and digitized processes combine together to satisfy customer demands.
Businesses should study the impact on customer experience based on sales and brand endorsements and plan business strategies along these points. Data based on customer buying behavior shows that 20% of recurring loyal patrons vouch for 80% of total sales.
Enterprise resource planning (ERP)
With the onset technology in almost all sectors of business, ERP is one such technological solution that is going to ease down the way retail chains function. Enterprise resource planning (ERP) solution can transform retail businesses by organizing manufacturing and promote customer engagement.
Many companies are struggling to understand the functioning of ERP system and the cost involved with its implementation.
ERP solutions on its implementation has been designed to provide retailers with insights of customer behavior, from a concrete database. It provides charts and bar graphs with minute in-depth data which will give actual insights. The data of every purchase detail by customers will help businesses understand the influence of their store experience and advertisements. They can plan personal offers for customers based on their buying patterns which will boost the sale of products.
Retail stores can also offer various discounts based on ERP data.
Apart from these solutions, Enterprise retail planning software also gives businesses access to financial data and easy organized billing and stock management.
E-commerce hypergrowth might have hindered the sales of Retail chains. However, the technological solutions like ERP can amalgamate with retail store functions and provide a growing business platform.
We at PC Soft Solutions provide ERP software for all your retail business needs. Our platform provides an easy solution at affordable costs.