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Seamless Retail System Integration closes the Fulfillment Gap
November 14, 2018 / 4 minute read / By Mike Tingle
Blog
A robust point of sale system allows companies to increase sales by giving customers options in how they receive their purchases
Commerce has been leveraging technology to better serve customers for years and that will accelerate as competition becomes fiercer among retailers as customers demand ever more convenience. Retailers should begin focusing on in-store fulfillment, where customers buy online and then pick up their product at the store, to improve customer convenience. Consumers want to combine the extensive product selection and competitive pricing E-Commerce provides with the speed and convenience of brick-and-mortar fulfillment.
Brick-and-Mortar Stores Still Rule
The most popular way for modern-day customers to shop continues to be walking into a brick-and-mortar store, acquiring the product they need and purchasing at the retailer’s point of sale. In fact, 54 percent of people surveyed in a JDA consumer survey from 2017 stated that they prefer to shop in-store over other channels like online, mobile, or social media. Having omnichannel retail technology in place will allow businesses to have their channels working in unison to create a synergistic effect on their publicity and sales.
Instead of receiving personalized attention, 75% of shoppers now prefer a quick and easy shopping experience
Instead of receiving personalized attention, 75 percent of shoppers now prefer a quick and easy shopping experience which further accentuates the need for retail businesses to invest in customer convenience. Customer impatience can be leveraged into a powerful commercial advantage through automated fulfillment. In a survey by Forrester Consulting, 41 percent of shoppers want to pick up an item within an hour, but only 55 percent of businesses can deliver on that expectation. If your business lacks “Buy Online, Pickup In-Store” (BOPIS) capabilities, it’s time that you began taking full advantage of your POS software. Point of sale software can help businesses keep track of inventory across brick-and-mortar stores and distribution centers so that the E-Commerce side can relay exact information to both management and customers browsing on the net.
41% of shoppers want to pick up an item within an hour, but only 55% of businesses can deliver on that expectation
POS Inventory Tracking Can Relieve Problems In Shipping
Integrated omnichannel retail technology can also address weaknesses in shipping. When a company uses POS software to accurately track its inventory, it can prevent the appearance of informational contradictions which cause delays, back-orders, and consequently customer frustrations. Two serious obstacles preventing customers from going ahead with a purchase are delivery time and shipping costs. If a delivery estimate exceeds a week, 38 percent of shoppers will abandon their shopping carts . And 55 percent of shoppers stop checking out once they see the cost of shipping. Bulletproof knowledge of inventory can help shorten turnaround time for delivery and reduce shipping costs, two key factors that could have a positive effect on your business.
Consumers Options
Another important reason customers are turning to retailers with integrated omnichannel retail technology is having the option of returning an item to a brick-and-mortar store. “Buy Online, Return In-Store” (BORIS) is another important factor in consumer considerations because paying & handling for postage & packaging is the biggest frustration customers have when shopping online. An E-Commerce business with a complete omnichannel strategy can create sales opportunities by getting rid of this potential logistics headache. Customers will be much more willing to buy from you if they know that they can always go back to you in the off-chance that something goes wrong..
40%of customers buy extra products when they arrive to pick up their original purchase
Eighty percent of customers said that they would consider in-store fulfillment if incentives existed. This is yet another possible avenue for retailers looking to close the fulfillment gap and empower their business. One of the benefits of having POS software is that a retailer can offer a rewards program or holiday discounts without too much trouble or effort. But even if you don’t have those customer loyalty programs in place just yet, you should still aim for online customers to visit your store as 40 percent of customers buy extra products when they arrive to pick up their original purchase.
In Short…
Deploying in-store fulfillment mechanisms can help retailers attract customers and close sales while improving customer experience. Whereas before customers would crave instant gratification, they now demand it. As a retailer, you can use your customers’ habits to your benefit by offering them a plethora of options thanks to your POS software. Make sure your company invests the time and energy needed to make real-time inventory tracking across sales channels a reality. Seamless integration is critical to the success of your omnichannel business in today’s age.
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