Fashion retail is not for the faint of heart, and even the business owner running an operation like a well-oiled machine can find it hard to keep his or head above water in this increasingly competitive arena.
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.
Community pharmacists are seeing an increased emphasis on running the pharmacy like a retail business, and including technology like a point of sales to effectively manage stock and transactions. Many pharmacies, however, don’t make the most of the information the POS has to offer.
Flexibility to adapt to what the customer wants is key to surviving the stormy retail waters of 2017. Delivering on promises is calling increasingly shifting towards the ways in which a customer can buy products.
Technology is advancing rapidly, and innovative payment methods and tender types, loyalty programmes and vouchering, and automation in stock-keeping are just some of the newer players in today’s retail environment.
Thanks to a complex private healthcare environment, keeping accurate track of the expenses and income generated by the dispensary and front shop’s very different types of stock and services over time is complicated.
Pricing products both competitively and accurately is key to surviving in retail because few retailers can really compete on price alone against the bigger chain retailers. Implementing pricing strategies based on the actual performance of products across categories and range for your particular