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People have been saying “Retail is dead” for several years now. Comparable store sales increased 9%, and the company’s gross margin increased to 58.8%. No, retail isn’t dead. Bad retail is dead. Better inventory management means better business operations, period. The problem is it simply isn’t true.
Retail Technology: Efficient in-storeoperations. Flawless inventory management – inventory sitting in the warehouse represents a cost to retailers; a cost that can be managed down if stock turns can be increased. Retail technology can help to deliver on these goals. Product mix. Retaining customers.
Powerful analytics help you optimize stock levels to drive sales, improve margins, and increase customer satisfaction. This software uses technology like barcode scanners, RFID, IoT sensors, and integrated ERP systems to monitor, track and manage your furniture stock. Furniture inventory management software offers a smarter solution.
3 – Create promotional offers. Promotional offers are commonplace for e-commerce businesses, but not enough brick-and-mortar stores focus on this strategy. You can create incentives for your customers to head to your premises by: Posting exclusive in storepromotions. Putting on special in-store events.
Store Design that Anticipates Shopper Journeys A well-designed store guides customers through curated experiences. Traffic Hot Spots and Dead Corners: If a back corner sees minimal fitting room requests, a quick refresh – better signage, new product groupings or a complementary seating area – can coax customers to explore.
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