The pressure to increase operational efficiency and quality of service is increasingly weighing on retailers’ shoulders, especially with the continuous disrupting of e-commerce corporations with “infinite” funds and their “money-burning” tactic. Facing this challenge, technology is the only survival weapon of all traditional retailers.
POS – High-tech cash registers
An efficient POS system can increase customer checkout up to 10 times, especially when combined with multi-ray barcode scanning.
We all experienced as a customer in the supermarket, and so we all know the pain of waiting to “lose money” of any customer.
Cart abandonment rate will be reduced. This is one of the biggest nightmares for retail managers, not only they lose money on each abandoned cart, but there is also the labor cost to rearrange and the reputation of the store will also be affected.
Completely eliminate human error. Without the help of POS, cashiers must constantly calculate on their computer, and one mistake can cause a lot of trouble. If the cashier misses to include $1 on the customer’s bill every hour, the whole business will lose $ 5,000 for a year! A huge amount compared to the value of the POS system.
Increased Return on Investment (ROI). A professional POS system will help you manage everything from the highest selling product to the average number of sales by days or by hours.
With these data, retail owner will quickly come up with ideas to increase revenue as well as reducing costs. With modern POS systems on display at VIETRF 2018, you can easily access your recent customers list, their daily needs, and easily transform them into loyal customers.
ERP – Enterprise resource planning
One of the famous definitions in the retail industry is: Omni-channel. With various case studies, many experts confirmed that this is the key to the future for traditional retailers.
Multi-channel sales will provide a fast and easy shopping experience wherever the customer finds the retailers’ product. Behind this strategy is always the support of an enterprise management system – ERP.
Not only managing the sales and cost information, the management system at VIETRF 2018 also has the ability to update the inventory level in real time on all existing retail channels, completely avoid the “out of stock” status that affecting the brand image.
Syncing inventory, accounting, POS information… Daily tracking sales situation, automatically update inventory, change product prices in just a few seconds. Human errors will be completely eliminated with the help of ERP management software.
Smart Shelf Technology
4.0 era has hit the product shelves that you see every day, they are being equipped with inventory management systems and advanced sensors. Quickly counting the number of products available on each shelf via weight sensing or RFID tags, warehouse staff and exhibitors will immediately receive notifications if any SKU is running low, avoid any loss due to “out of stock”.
Banner and Sign
Nearly 75% of research respondents said that they would go to a store if they felt the banner and sign provided enough information. Within these respondents, 68% said that the quality of the banner and sign represented the image of a brand, even though they had never once step into that store.
Not only that, 60% of the respondents admitted that they would not step into a place without a clear sign.
On the business side, nearly 60% of stores acknowledge that sales and profits have improved significantly after they changed to a more prominent sign. Large brands with multiple locations will often pay great attention to banner and sign as it is an integral part of their brand positioning.
Automation for restaurants
Nearly a quarter of the customers today rated the technology applied at the restaurant as one of the deciding factors for their selection.
Restaurants are now using automatic ordering technology to increase order accuracy, minimize waiting times and reduce labor costs.
This development was born out of the needs from the millennial generation (born between 1980 and 1998), which has become a major customer base for many industries. Their desire for self-reliance and immediate service has made them require more and more technology in daily life.
In addition, some customers are fond of locations that can take orders over the phone or paying at the table. Not only will it improve the customer experience, the applied technology will increase the table turnover rate, thereby increasing the revenue.
VIETNAM INT’L RETAILTECH & FRANCHISE SHOW 2018 will include all the latest retail technologies.
Occurs from 10:00 to 17:00 in 3 days, November 1-3, 2018 at SECC, District 7, Ho Chi Minh City. Register now!
Contact below for more information:
+ Website: www.vietrf.com
+ Facebook: www.facebook.com/VietnamIntlRetailandFranchiseShow/
+ Phone: +84 934511953
+ Email: [email protected]