December 10, 2013

Improve Backroom Efficiencies with In-Store Digital

All too often, store managers and associates have challenges tracking store inefficiencies such as inadequate inventory levels or a poorly performing promotion. That’s because gauging a retail store’s success is often a manual, time-consuming process. Fortunately, digital media technology can help. By connecting with inventory and point-of-sale systems, digital signage and interactive display applications can communicate key performance indicators in real-time so that retailers can quickly improve efficiencies on inventory productivity and local store performance levels.

These solutions also can help merchants as they strive to provide a consistent brand experience across all channels. With real-time visibility into product availability and ordering information — in the back room as well as online, in other stores and in DCs — store associates can help locate the desired item for shoppers on the spot. With that information in hand, the associate can finalize the purchase, avoiding a potentially lost sale and diminished customer loyalty.

ChartMerchants should not underestimate the value of offering the right product at the right time, at the shopper’s convenience. In a recent KPMG survey, retailers stated that the top two drivers of revenue growth in the next three years will be retaining customers (37%) and adding customers (35%).

Retail leaders are recognizing the advantages of omnichannel product visibility. For example, 62% of retail leaders share up-to-date order management information across channels, compared to just 37% of followers, according to Aberdeen Group in a May 2013 study, titled: Omni-Channel Retailing 2013: The Quest for the Holy Grail.