Retail in 2017 is not what it used to be.
With the rapid advances of digital technology, the advent of the millennial customer and the growing competition for market share, the modern retailer faces a challenging environment in which every advantage is needed to maintain an edge over the competition.
With our decades of experience in navigating and providing solutions for the South African retail sector, we at UCS Technology Services develop retail solutions that meet the fundamental needs of retailers, as well as the ever-evolving needs of the markets they serve.
1. Efficient Stock Management Through Data Capture and Analysis
Covering the overheads associated with maintaining surplus stock is often an inefficient and unfeasible use of resources, especially for the independent retailer who lacks the assets with which a big corporate can use as a buffer against short-term losses.
With modern Point of Sale retail solutions, stock management is facilitated through the real-time capturing, categorisation and collation of data. This allows the retailer to foresee consumer behaviour based on identified trends and maintain appropriate quantities of stock based on accurate predictions of consumer needs.
2. Measure Promotion Against Performance
Marketing and promotional efforts are necessary drivers of foot traffic and profit in the retail environment. However, without being able to measure the effect that a promotion has had on your bottom line, you cannot know how well the effort achieved its goals. If at all.
Should you offer your customers large, infrequent price reductions or smaller discounts more regularly?
What products would your customers most like to see being offered at a special price?
What impact does your promotion have on the turnover of non-promoted products?
Without detailed data, these and other questions can cripple a retailers’ decision-making ability.
User-friendly access to and interpretation of this data is why successful South African retailers utilise UCS Technology Services’ Dolfin Point of Sale solution and the support services that come with it.
3. Offer Comprehensive, Integrated Payment Solutions
South African shoppers expect that their retailer of choice will offer the full range of payment solutions, and your in-store Point of Sales system must integrate with EFT payments, mobile commerce apps and even loyalty and rewards programmes offered in-store.
If your system cannot accept and manage these different tenders, not only will you potentially lose out on that sale but also on future sales, as customers start to turn to your competitors whose service is more comprehensive and convenient.
We urge retailers who have not yet integrated all payment methods into their Point of Sale system to save themselves lost profits, and enquire about comprehensive payments solutions with UCS Technology Services today.
4. Develop Consumer Relationships
The internet and social media have changed the expectations of the modern shopper. No longer does the consumer look to their retailer as nothing more than a provider of necessary products, but as a partner in the pursuit of solutions to the needs of the moment.
Traditionally, maintaining customer relationships is the purview of the sales team.
While this continues to be true, the modern retailer must recognise the value of empowering the sales team with the detailed insights that can only come from careful analysis of consumer data.
With in-depth data, the needs of the consumer can be anticipated, appropriate products made available at the right times, relevant advice can be offered and positive relationships built.
Ultimately, It Is All About Consumer Experience
This is the reality that all modern Point of Sale and retail solutions must contend with.
As physical stores lose more and more of their market share to the convenience of e-commerce, the focus of brick-and-mortar retail has had to shift to creating an optimal and positive consumer experience. This can only be achieved through face-to-face interactions with actual humans who have the data and technological functionality to anticipate and satisfy the consumer’s needs promptly and efficiently.
Retail management software and solutions are our bread and butter at UCS Technology Services. Our passion is understanding retail in Southern Africa, and working closely with our clients in the pharmaceutical, fuel, fashion and general retail sectors to identify and meet the needs of their customers – enhancing their offering and increasing their profitability.
Contact USC Technology Services today and learn more about how we can help you to dominate your market through Point of Sale and retail management solutions.