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Use Sensory Experiences to Improve Customer Retention

July 3, 2019bwadmin — Posted in TechTOPICKS

We’ve written extensively on the changing landscape of the retail industry and the shift toward a more personalized, interactive in-store experience. A new study has found that the sensory elements in a store can have a significant impact on the shopping experience. These elements also play a role in whether a customer makes a purchase or returns to the store.

In the study, which was performed by Total Retail, researchers surveyed more than 10,000 consumers in 10 countries, including the United States. About 90 percent of shoppers said that they were more likely to return to a store if the visuals, scent and music created an enjoyable atmosphere.

What Makes a Shopping Experience Enjoyable?

Obviously, whether something is “enjoyable” is incredibly subjective, but researchers found a few common threads. First, music. More than half of shoppers said they would not return to a store if the music choices were lackluster. Customers also dislike “mismanaged” music – i.e., too quiet or loud. Nearly half of American respondents said they would spend more time in a store if the music was enjoyable.

Visuals are important aspects of the sensory experience as well. Nearly 60 percent of global consumers reported that in-store video content has had a positive impact on their shopping experience. More than 40 percent reported being directly influenced by digital content displayed in-store.

This study makes it clear that an unpleasant sensory experience can shorten a customer’s shopping trip. It could also deter customers from returning to a store in the future. With retail margins growing thinner, retailers can’t afford to overlook sensory factors when crafting their in-store strategies.

Improving the customer experience can have a powerful effect on retention and sales. A point of sale system is an essential tool in tracking whether your strategy is paying off. Contact Retail Tech to find the POS system that is right for your small business or store.

Retail Tech carries a wide variety of new and refurbished POS equipment. We offer installation and staging, POS printer repairs, and more. If you need help choosing a hybrid POS system, contact our POS systems specialists for help finding the perfect point of sale solution for your small business.

How to Boost Sales with Offline Marketing

May 23, 2019Andy Wojtowski — Posted in TechTOPICKS

In today’s digital marketing-focused world, it’s easy to forget about the more traditional methods of offline marketing – and how powerful they can be. This is especially true for small and local businesses, such as retail stores, restaurants, salons, fitness studios, agencies and more. There are several instances in which tried-and-true methods of offline marketing – print, mail and advertising – can boost sales significantly.

There are a few key steps to take when developing and executing an offline marketing plan, according to Total Retail. We’ll discuss a few of those steps below.

Define Your Goals

As with any marketing plan, don’t do offline marketing just to do it. Define your specific goals – brand awareness, customer loyalty, a specific sale or promotion – and develop a plan that will help meet that goal. Then ask a few key questions: What does success look like? How will a specific marketing tactic help you achieve success? What steps do you need to take to execute your plan? How will you track progress?

Set Your Target Audience

Once you’ve defined the goal, determine the target audience – and think quality, not quantity. You’re more likely to have success – and less likely to blow the budget – if the target audience is narrowly-defined. Also, by really understanding that audience, and what they want and need, you’ll be better able to target your campaign specifically to them.

Create Unique Print Materials with a Specific Call to Action

As in digital marketing, the challenge with offline marketing is standing out in the crowd. Competition is fierce and your materials need to stand out. Include an attention-grabbing headline, concise copy, a compelling image and – most importantly – a clear call to action.

Track Analytics to Measure Success

Just because you’re working offline doesn’t mean you can’t track the progress of your campaign. Including a custom URL, offer code or QR code will allow you to see whether recipients took action in response to your print materials – and tweak your plan accordingly for the next go-round.

A point of sale system is an essential tool for tracking marketing efforts, both online and off. Contact Retail Tech to find the POS system that is right for your small business or store.

How to Run Effective Promotions

April 30, 2019Andy Wojtowski — Posted in TechTOPICKS

Sales, specials and promotions can be an effective tool, both for drawing new and existing customers into a store, and getting them to spend more once they’re in. But when promotions are executed broadly, haphazardly, or without a specific goal or target in mind, they can actually hurt the bottom line.

Today, we’ll discuss a few tips for running a coordinated, effective promotion, courtesy of Harvard Business Review.

Match the Tool to the Job

What’s the goal of your promotion – to increase total spend, to make more sales, to attract new customers, or something else? Make sure the offer matches that intended outcome.

Promote at the Right Time

Understanding when customers shop is key to running a successful promotion. In one recent study, customers were more likely to respond to promotions during holiday shopping seasons and on weekends. Offering weekday promotions may not get busy customers in the door. Look at your sales data to determine when and how your customers shop, and run promotions accordingly.

Select the Right Products

When deciding which products to place on promotion, look at sales data to determine which will have the biggest ROI. Often, everyday basics are not huge drivers, but in-season or limited-time items may bring more customers into the store. In addition, be careful not to overly promote certain marquee items, at risk of eroding their value.

Target the Most Impactful Customers

Examine your point of sale data to determine which customers are most likely to participate in the promotion, and to help you meet your goal.

A point of sale system is an essential tool for tracking sales, identifying trends, and planning promotions. Contact Retail Tech to find the POS system that is right for your store.

Build Customer Loyalty Through Returns

April 8, 2019Andy Wojtowski — Posted in TechTOPICKS

Returns are expensive, disruptive, and time-consuming, but they’re an inevitable fact of life for retailers. A 2018 survey by the National Retail Federation found a median return rate of 10 percent in U.S. retail stores. This adds up to about $370 billion in returned merchandise. Further, return abuse and fraud costs retailers between $5.00 and $6.50 for every $100 of returns, which can have a significant impact on a store’s bottom line.

Those numbers are stark, but they’re not the full story. In a recent article in Total Retail, one expert says that returns are not all bad. In fact, he says, returns may actually be good for business – when they’re handled the right way. Here are a few tips on how to make the most out of returns.

Be Upfront about the Return Policy

About 80 percent of customers never make returns, but they still like to know that they have the option to do so. This makes them feel more secure and confident about their purchase. Make sure your return policy is customer-friendly and easily accessible.

Make the Return Process as Painless as Possible

No one likes making a return. It’s time-consuming, can be intricate, and it just doesn’t feel good. Use your POS system and train employees properly, so that the return process is fast, easy, and uncomplicated.

Shift the Return Mindset

Instead of thinking of returns as lost revenue, consider them opportunities to build customer relationships. Of course, it is essential to be kind to customers when they make returns. Beyond that, there’s an opportunity to help customers find products that better meet their needs. Coach employees to (politely) inquire into the reason for the return, and to offer alternatives and assistance to find something different. Even if it doesn’t result in a sale, the customer will leave feeling cared for.

A point of sale system is a useful tool in tracking return fraud, as well as identifying trends and opportunities to improve sales. Contact Retail Tech to find the POS system that is right for your store.

Retail Tech carries a wide variety of new and refurbished POS equipment. We offer installation and staging, PoS printer repairs, and more. If you need help choosing a POS system, contact our POS systems specialists for help finding the perfect point of sale solution for your small business.

Use Retail Trends to Improve the Customer Experience

February 12, 2019Andy Wojtowski — Posted in TechTOPICKS

As we move into the New Year, retailers are focused on the bottom line, working to continue the fight against online shopping and improve in-store sales. There are many debates over the best way to do this, but ultimately, it’s pretty simple. By paying attention to retail trends and continually adjusting sales tactics to better meet customers’ needs, retail stores can be see greater success in 2019.

Customer Experience

This one seems like a no-brainer, but it is the most important aspect of improving retail sales and success. Brick-and-mortar retail continues to trend toward a more interactive, fun and engaging customer experience. Ultimately, making the shopping process fast and easy, with knowledgeable sales staff and product in stock, is the best way to boost customer loyalty and increase sales.

Smaller and Pop-Up Stores

In recent years, a number of larger retailers have experimented with smaller or specialty stores. Whether to fit into urban spaces, to offer specialized products, or to host one-off events, these unique formats allow retailers to be more nimble, to reach new customers and to build brand awareness with specific and targeted audiences. If a small store isn’t in the budget, consider partnering with a like brand to host a pop-up during a key shopping weekend, such as Mother’s Day or back to school.

Reach and Diversify

So what if your store has traditionally only carried a select product line? Think about what else your customers could want and need, and sell that too. Many retailers are introducing new product categories as a way to increase average sales. This will also help to make customers happy by providing more of what they want in one place.

By incorporating one or more of these retail trends into your strategy for 2019, you could offer customers a better experience, ultimately getting them to spend more and come back.