Retail Fashion report from 'Presents Fair'

Whether you market in-store, on the internet or across both stations, Melbourne's shopping environment is always a great and exceptional inspiration source.

 

We Melbournians love our laneways and those eateries which are uniquely Melbourne. However, there's something about this town's retail that is changing. In this blog, we will discuss our firsthand experience at Reed Gifts Fair 2015 to describe the retail revolution that's occurring in our city. We've just returned back to regular office life from a 5-day Gift Fairs exhibition. What we witnessed at the expo was just great and seriously positive for smaller retailers and ConnectPOS. This is what we heard as exhibitors at the expo:
 

"Mom-and-Dad" shops are embracing mPOS

ConnectPOS's stand was visited by different tiny businesses including micro companies, mom-and-dad retail shops as well as coffee shops. It was so reassuring to learn that all small companies are welcoming the mobile and iPad POS technologies. The obvious trend was that cellular POS systems are prepared to replace ancient cash registers in our city's small businesses. It's regarded as a way forward for providing a better customer service and improved revenue levels. Some tiny companies that visited us and run in the world-famous Victoria Market were so excited to give iPad register a go. The vendors at Victoria Market are seen as quite traditional vendors. So it was reassuring to find that Melbourne's small companies do take technology seriously. Victoria Market has millions of people per year and might greatly benefit from the mobile POS technology, providing the ease and flexibility required by this kind of shopping scenario. Melbourne's small companies differentiate themselves from their large scale competitors on the basis of product differentiation, exceptional support and sense of being boutique. With cost-effective cloud technologies such as ConnectPOS, they are prepared to also adapt the technology to their benefit.
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Established small retailers are embracing cross-channel

Most the small but established retailers who visited our stand have clearly accepted the fact that shoppers are channel-independent. By way of example, among the visitors who run 4 stores across Victoria and New South Wales indicated that offering shop clients a convenience of ordering online and picking up products in the physical shop is a must have feature for them. They were thrilled to learn that it's one of the basic features provided by ConnectPOS. There were many different retailers still using a traditional POS system, nevertheless, prepared to embrace a cross-channel approach for their own retail business.

Medium-sized chains, stores' Obsolete POS

It might be a bit surprising, but we discovered that majority of medium-sized companies were stuck with conservative PC-based POS systems without a near-term strategies to change. It might appear a bit contradictory since they're the ones with larger budgets and likely to benefit the most from this update.

What does it mean?

Large businesses like Myer and David Jones are already using their business software with comprehensive analytics and reporting features. Small companies can also be covered with a bit of cloud from cost-effective inventions like ConnectPOS. However, those which are most likely to take longer to accommodate the change and lose out on the early benefits of the retail revolution would be the mid-sized chains.

Omnichannel -- bridging the gap

Retailers always need to make their customers' shopping experience beautiful. And clients should be in the middle of any business decisions we make. However, at exactly the exact same time, these decisions need to be commercially viable.
In this guide, we'll look at bridging the gap between brick-and-mortar shopping and electronic trade by providing'Omni-channel retailing' to your clients. Let us look at all surrounding variables and its viability in commercial conditions. The term'Omnichannel' or'Omni-channel' means encompassing a variety of sales channels into one. With merging of sales channels, you use just 1 system to process orders whether your clients place it in-store, on-the-go and online. Omni-channel vs multi-channel
Omni-channel and multi-channel are sometimes misunderstood to be the exact same so let us first explain on that. Omnichannel pos system is where you combine everything into one. While with multi-channel you still provide various shopping options to your clients but with multiple independent stations. By way of example, you could provide online shopping experience to your clients using a site, use a conventional POS software for in-store sales and just use paper and pencil for earnings at exhibitions. Yes, it's worked for us now but the things are changing. Omnichannel solves following multi-channel issues:
  • You will want to run different inventory systems
  • Independent IT systems means more things that could break
  • you'll have to teach numerous systems to your employees for order processing
  • Clients will need to keep separate accounts with your organization
  • No centralised analytics. Separate in-store and Internet data
On the other hand, omni-channel will make it possible for you to provide your customers a seamless shopping experience with your organization. By way of instance, they will enrol in just one loyalty program and accrue loyalty points with your organization, however they put their order. You'll manage 1 stock system, have the ability to check at the holistic view of your business performance with all sales channels combined. In our opinion, this acts as a fantastic competitive advantage. Business that overlook this change in retail run the risk of missing and falling behind the competition since omni-channel becomes the standard.
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In the E-commerce Summit 2014 in Denmark, the CEO of the Danish E-commerce Association (FDIH) reported"An FDIH survey revealed three out of four (75 percent ) online customers expect to purchase online and pick up the products in a physical store, in addition to return goods bought online to the physical stores. The largest challenge for retailers is to accommodate their stores to fulfil the clients' expectations and behavior, meaning that they will need to be really dedicated at getting Omni-channel." Can Omni-Channel Increase Revenue? The largest and most important question to ask is if this is achievable in commercial conditions. Does omnichannel represent real business value? Can we get any quantitative or qualitative benefits that will lead to additional sales? A survey from Deloitte, on behalf of eBay, likely answers this intricate question. The poll concluded that omni-channel retains your shoppers happy and can improve earnings also. The poll further states that regular customers are more likely to be omni-channel clients. The poll also claims that the popular belief that omni-channel drives customers away from brick-and-mortar stores is wrong. Omni-channel customers aren't abandoning retail stores. In actuality, these shoppers are seeing the online shopping as a complementary choice with a lot of them shopping offline at least once weekly. To conclude, omni-channel generates more sales opportunities through additional channels like online and mobile commerce. At exactly the exact same time, it's supplying your regular customers with choices that help you retain and pleasure them. Omnichannel retailing simply enables more regular and higher-value purchases. Read whole survey report -- the complete survey report.
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