These are difficult and exciting times for retailers; difficult because of the decreasing margins and rising competition and exciting because of the new opportunities available, thanks to both evolution and adoption of eCommerce and mobile devices. For years, retail was always associated with brick-and-mortar stores alone but thanks to eCommerce and mobile devices these are things of the past. Today customers have multiple options like eCommerce stores, online marketplaces, brick-and-motor stores, social media, etc. to shop with brick-and-mortar store being one of the possible channels.
We are in no way predicting that brick-and-mortar stores will soon become the thing of past, or that we imagine a future with no physical stores. On the contrary, we believe that Brick-and-Mortar stores will play a crucial role in helping retailers differentiate themselves from competition; but this cannot happen if they exist in isolation. For retailers to survive they will have to adopt technology, especially eCommerce and mobile, and get more out of their physical stores. For this the following things are crucial
Whether a single location, independent operator or a large chain, an integrated mobile POS solution can provide substantial return on investment (ROI) to every business. Increased sales, streamlined order processing and improved customer experience, increased efficiency and profitability can be gained throughout all operations. The rest of the article focuses on the benefits of an integrated Mobile POS solution for retailers.
Sales representatives equipped with an integrated mobile POS solution can access data such as customer information, purchase history, etc. available across channels (eCommerce) and make informed sales decisions. They can now better recommend products (cross-sell and up-sell) to customers increasing not only customer satisfaction but also the life time value of the customer.
True Omni Channel Experience
With the integrated mobile POS system you can now provide your customers the same experience online or in store. The integration opens up opportunities like buy online pick up in store, buy online return in store, etc. letting your customers experience your brand and not a channel within your brand. You can further extend this integrated system to include other channels like online marketplaces, social media, etc. and other systems like Microsoft Dynamics GP, Dynamics NAV, Dynamics AX, Dynamics RMS, Dynamics CRM, etc.
You can also use the integrated Mobile POS solution at places like Trade Shows and Events and close deals on the move without the increased operational overhead of syncing the customer and order information back with your fulfillment systems.
Improved Customer Satisfaction
Mobile POS solution will also significantly improve the customer satisfaction and experience as they no longer have to stand in long queues for payments. Moreover, with all the information at their fingertips your sales representatives can build deeper relationships with your customers and provide them a personalized private boutique experience.
Increased Productivity and Operational Efficiency
Eliminate unproductive and error prone manual tasks and let your sales representatives focus on what really matters: your customers. With Mobile POS you have to manage only one system; eCommerce integration further streamlines your order processing and inventory management resulting in increased operational efficiency and improved margins.
Manage Returns Efficiently
Returns are a long and complex process; with integrated Mobile POS you can streamline this complex process by centralizing information and automating communication between systems. Moreover the integrated ecosystem also opens up newer opportunities like Buy online and return in store, Buy in one state and return in another state, etc.
Improved Inventory Management
The integrated Mobile POS system enables you to increase sales by better managing your inventory. With this system in place you can very easily sell a product, not very popular in stores, online or avoid losing a customer when you have the product available in another store. With the mobile POS system you can also set and receive alerts whenever there are potential problems – products going out of stock, etc.
Integrated Loyalty and Reward Systems
The integrated mobile POS system allows you to centralize your loyalty and reward systems by identifying customers irrespective of the channel they purchase on, thus rewarding them for being loyal to your brand and not just loyal to your physical store or any other channel within your brand.
Integrated Marketing Campaigns
With an integrated view of all customers, your sales and marketing teams can now run targeted promotions and marketing campaigns targeting both your online and in-store customers. You can also notify them about new products, upcoming sales and more. The integrated system also allows you to better forecast your sales and manage inventory accordingly.
How can i95Dev Help?
i95Dev is a leading eCommerce and integration company in North America which can help you build the right infrastructure required to truly become an Omni-channel business. Our Integrated Mobile POS for Magento, i95POS, product allows you to effectively manage point of sale in combination with the feature rich Magento eCommerce store.
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