How to Increase Retail Sales in 2024

Raise your hand if you’d like to improve your retail store’s sales.

Whether you’re looking to build on the positive momentum or trying to fix a dip in sales, you’re in the right place.

We’ve curated a list of tried-and-true things they’ve done that had a measurable impact on their sales.

Let’s dive in!

  • Focus on the customer service
  • Prioritize your customers
  • Turn your store into a destination
  • Refresh your in-store displays
  • Reduce wait times
  • Generate more online awareness
  • Increase in-store foot traffic
  • Set up a customer loyalty program
  • Level up your staff training
  • Focus on upsells and cross-sells

 

1. Focus on the customer experience

Your employees are your store’s front line. They’re the ones interacting with customers, creating positive connections and actually selling your products, so it makes sense to invest in them. To get your staff to effectively drive in-store sales, it’s important to:

  • Hire passionate people: When a sales associate is passionate for the products they sell, it seeps into how they interact with customers and makes them more likely to create positive interactions.
  • Focus on the customer’s needs: While sales are certainly important, actively listening to customers is even more so. By listening to what the customer says, sales associates can identify their pain points and better find a way to solve them through the products they sell.
  • Emphasize the importance of personalized interactions: There’s no cookie-cutter way to work in sales. Actively listening to a customer’s wants and needs helps a sales associate find the product that’s right for them.

A retail store is a great touchpoint where you can engage with your customers directly and help them solve their problems. Offering great in-store customer service that simply can’t be replicated online is the key to more lifelong retail customers (and sales).

Make your customers your top priority. Which brings us to the next point…

2. Prioritize your customers

Being customer-centric is something that every retailer should aspire to be. It really comes down to understanding what your customers want and making their needs your top priority. That doesn’t just end at having the products they want in stock. It starts by making customers feel good.

If your sales associates treat the people that walk into your store like people, you’re heading in the right direction. Nobody likes being sold to, so enough with the pressure sales tactics. Just have a conversation with the customer, find out what they need and propose a few solutions that match their price point. If they like your service (and the product), they’ll come back.

If you don’t carry the product that your customer truly needs, don’t be afraid to recommend it to them anyway and tell them where they can buy it. They’ll appreciate the help and your sales associate will establish trust with the customer. When that customer comes back to your store, they’re far more likely to trust your sales associates as a result. Think long-term relationship-building, not short-term sales!

The most successful retailers are obsessed with their customers and making them happy. Are you?

3. Turn your store into a destination

Customers crave unique, creative and memorable in-store experiences. Not only does that include approachable, knowledgeable staff (that’s a given), it also means rethinking the way your store operates. People are so accustomed to the typical store setup: there are products, salespeople and a cash register—boring. Some companies have pioneered a new store format called experiential retail.

In a nutshell, what that means is that the store’s goal is more than just to sell products; it’s to create an immersive experience that focuses on customer engagement. And they achieve that with interactive product demos and fun activities that are related to the products they sell.

For example, a visionary mattress store has provided nap pods that people can rent for a 30-minute nap. They come fully-equipped with an original mattress, sheets, and pillows, along with a bathroom to freshen up after your nap. If people enjoy their nap, their perception of the brand’s products is positive and the probability that they will make a purchase and become brand evangelists is higher.

There’s science to back this up, too. When a person touches and interacts with a product, they’re more likely to develop an affinity for that product.

In an article published by Harvard Business Review, Lawrence Williams, a marketing professor at Leeds School of Business, says “Physically holding products can create a sense of psychological ownership, driving must-have purchase decisions. This idea may underlie the push to move inventory from display cases into customers’ hands, a trend seen in many electronics outlets such as the Apple Store.” Pretty cool, huh?

Experiential retail is blowing up and there are tons of ways you can apply the concept in your store. We teamed up with Cate Trotter, Founder of Insider Trends, to cover this topic in-depth—read her piece below!

4. Refresh your in-store merchandising

Assembling persuasive in-store merchandising is part art, part data.

You use data to pinpoint which products are typically bought together, and you use your creativity to make those products look irresistible.

Good in-store merchandising will have no clutter. The only things that your eyes are drawn to are their products. Displays that are too busy will just overwhelm your customers and make your store look cluttered and unkempt. The store planogram has to be well organized. Every product has its place. It’s easy for customers to find what they’re looking for faster, which contributes to a better overall shopping experience.

Related products are grouped together. Notice that pants and shirts from matching color palettes are next to one another. (Hint: if you want to see which of your products are typically bought together using ETP Omni-channel Analytics, just check out your Products Frequently Bought Together report.

Must-have, low-cost accessories are nearby. Odds are, if you’re buying stylish gym gear, you need a bag to carry it in, right? The store will therefore place their tote bags next to their gym gear for exactly that reason.

5. Reduce wait times

Long wait times to pay are a big turn-off for customers and can cripple your sales. Research shows that most customers will typically abandon a checkout line and leave a store after waiting just six to eight minutes before heading for the door. The best way to stop losing sales due to long checkout lineups? Eliminate them altogether.

Brick-and-mortar retailers need to “banish the wait in line, once and for all” to avoid losing sales. But how do you do that?

It starts with scheduling enough sales associates to serve customers quickly even during peak hours. In ETP Analytics, you can easily see when your peak business hours are in the Sales by Hour of Day report. Use that information to make sure you schedule enough workers to assure you’re promptly serving each customer.

Next, why not eliminate cash registers altogether?

Unlike traditional cash registers and in-premise point of sale (POS) systems, cloud-based POS systems and mobile POS systems enable sales associates to serve customers and ring up sales from anywhere in the store. Retail MPOS helps customers get in and out of your store as fast as possible, which is what most of them want anyway.

Ring up sales from anywhere – with ETP’s mPOS software – ETP Mobile Store, you can eliminate customer wait times and reduce lost sales, all while offering amazing service.

6. Generate more online awareness

‘Clicks and bricks’ isn’t just a catchy line; it’s literally how consumers shop now.

Last year, more than 80% of retail purchases were made by first using online search. Increasingly, people are researching what to buy and where to buy it online before ever setting foot in-store. When they get to the store, those multichannel shoppers spend an average of three times more than single-channel shoppers.

Of course, retailers should have an online presence, but that doesn’t just mean having a transactional website. Things like a Google My Business (GMB) profile, Facebook and Instagram are amazing tools to get discovered by more potential customers in your area.

With a little bit of work, you can make it easier for people to find your store online, research what products you offer and get directions. Your goal is to make it as easy as possible for customers to see that you have what they need.

Setting up a GMB profile and optimizing your Facebook and Instagram accounts for local online searches isn’t as hard as you may think.

7. Increase in-store foot traffic

What good is online awareness if nobody is actually visiting your brick-and-mortar store or buying online? It’s not worth very much.

Part of that is getting a transactional eCommerce store up and running; the other part is showing customers that your brick-and-mortar store has what customers are looking for.

There are several ways to incentivize customers who discover your store online to visit and make a purchase.
Organize in-store events. The benefit? If a customer is interested, they have to visit your store. Things like weekly clubs, workshops and hands-on events are a great way to build a community and generate more visits.

Run exclusive in-store offers. Nobody likes passing up a great deal. Try offering a free giveaway for in-store purchases, or featuring certain items available exclusively in-store.

Show inventory levels online. People are more likely to visit your store if they know you have what they’re looking for. With ETP Omni-channel Inventory Management solutions, you can show your brick-and-mortar inventory levels online in real-time at the click of a button.

Offer free in-store pickup. This option benefits both you and your customers. For them, they can avoid paying for shipping, while you save on shipping costs.

8. Set up a loyalty program

A loyalty program incentivizes customers to purchase more to unlock personalized rewards. It’s a super accessible way to increase customer lifetime value while rewarding your customer’s loyalty to your business. When customers can use their loyalty program points to discount future purchases, you can bet they’re going to take advantage.

9. Don’t treat product returns like a loss

Returns happen, and when they do, customers should get the same great service as when they bought the item. Put yourself in their shoes. The product didn’t work out; they’re disappointed, too.

Treat each return like a sale and serve them willingly and with a smile. It makes the customer feel like they’re valued for more than just their hard-earned money, which creates an emotional sense of loyalty.

If they appreciate your service, they’re more likely to make another purchase at your store. Make the process quick and painless, and most important of all: treat your customers with positive intent.

Of course, there are serial-returners out there who will try to take advantage, but a loyal customer base that consistently shops at your store because of great service more than makes up for that minority.

10. Focus on upsells and cross-sells

Upsells and cross-sales can add up; have you considered making them a part of your sales strategy? When done wrong, it can make your sales associates (and your store’s reputation) look dodgy and self-serving. But when done right, it’s just flat-out great customer service.

With upselling, you should train sales associates to use the rule of three. Take the item that the customer was initially interested in (for example, a pair of running shoes) and show the customer three different models at three different price points (entry-level, mid-level and high-end). This is the best way to upsell since it shows the customer that you understand their needs. You want to show them everything that’s available so that they can make the most informed decision possible. You’re not pressuring them; you’re informing them.

With cross-selling, you should apply a similar approach: don’t try and sell a customer something they don’t actually need. Going back to the shoe example, an illustration of an authentic cross-sell would be educating the shoe shopper on the various types of running socks: from expensive compression socks and moisture-wicking ones to the generic cotton socks. Educate them on the differences between the three and let them choose what’s best for them.

With cross-selling, another important factor is “does this purchase make sense?” For shoes, socks are pretty much a given, but sometimes it can be tricky. The best way to find out if a customer needs anything else is to simply ask, “Could I help you with anything else today?” After all, a sales associate’s job is to facilitate the customer’s needs and offer solutions. Suggestive selling is the most authentic way to do that without coming across as an overly-pushy, selfish salesperson.

Summing up, hopefully you can use the above tips and tricks to increase retail sales. Ultimately, it comes down to prioritizing your customers and understanding that you’re in the business of serving them.

From your staff to the systems you use to run your store, everything and everyone’s job should be to create more “wow” moments and earn their trust; the sales will naturally follow.

Want to create an efficient in-store experience that your customers will love? Talk to one of our retail experts today to see how ETP V5 can help!

Unlocking Success: The Crucial Role of Omni-Channel Retailing for Multi-Store Retailers

Consumer expectations have undergone a significant shift, with a focus on convenience, connected shopping experiences, and personalization. Discover how to leverage your stores to elevate and distinguish your customer experience.

Omni-channel retailers now regard their stores as crucial assets worthy of investment. Last year, offline sales outpaced e-commerce for the first time, with physical stores growing at 18.5 percent compared to e-commerce’s 14 percent growth. While e-commerce is projected to surpass physical stores in future growth, the spotlight remains on stores. For most omni-channel retailers, this e-commerce growth implies increased investments in physical retail. Stores play a pivotal role in creating and satisfying customer demand, even if transactions eventually occur online.

Stores enhance brands by providing a tactile, human-centric experience that is impossible to replicate online. Store staff build trusted relationships with customers through advice, service, support and sales. They are often better at acquiring customers and stimulating repeat purchases than digital channels..

Furthermore, stores support e-commerce by positioning inventory near customers—the source of demand. Practices like click and collect, ship from store, and in-store returns have become standard for fulfilling online orders. Without a store, many online orders would not happen, and would be unprofitable. Thus, store-based retail is not going away, in-fact quite the opposite – its importance in the human interaction and social sharing aspect of retail is only becoming more sacred.

For multi-store retailers, the concept of stores is evolving from mere storage to spaces of exploration. The quality of this exploration is now more critical than ever. However, many retailers struggle to meet customers’ omni-channel demands and lack the infrastructure for modern shopping journeys expected by digitally-savvy post-pandemic consumers. They rely on disjointed, siloed backend systems that are cumbersome, inefficient, and costly to integrate. While they’d implemented quick fixes during the pandemic, they now require a comprehensive, long-term solution for unified data across all channels. The pressure is mounting on them to implement change rapidly and create the new “phygital” customer experiences demanded by the business.

So, what are the new capabilities retailers need to modernize their customer experience for digital-first retailing?

  1. Stores that Amplify the Digital Experience: The rise of live online customer experiences extends beyond social media and chat assistants to virtual shopping appointments. Retailers leverage store staff expertise to boost digital sales and service by providing in-store teams tools to connect with shoppers digitally. Unified commerce solutions automate the end-to-end process, from customer communications to seamless sales transactions and quick deliveries.
  2. Digital Convenience in Stores: The POS used to be the epicentre of the store technology experience. But today, consumers expect unlimited access to information and functionality to inform their purchasing decisions, and demand digital convenience inside the store. Retailers empower customers by integrating digital services, enabling loyalty point lookup, exploring product information, and creating digital wishlists in stores. Digital screens for instant browsing and shopping provide ‘endless aisle’ capabilities for browsing and ordering from the entire inventory.
  3. Self-checkout evolution into Self-service: Retailers modernize the checkout experience for customer convenience. They’re putting customers in control with fast and flexible self-guided assistance, mobile point of sale, and contactless payments anywhere in-store, out in the warehouse, or at trade shows and pop-up stores. Self-serve kiosks are practical for larger stores; grocery and convenience store retailers are taking advantage of new self-service software for touchscreen terminals, creating fast and memorable experiences.
  4. Endless Aisle for Seamless Ordering: Consumers choose retailers based on the ease and flexibility of the end-to-end experience. Retailers focus on the entire customer journey, implementing a ‘buy anywhere, fulfill anywhere’ strategy and a central unified commerce platform. This provides real-time visibility of inventory, orders, and customer data across the business. That means customers can shop for products of their choice, whenever they feel like it, using their most convenient channel. Endless aisle access to inventory lets customers order any product and get it delivered to any address.
  5. Flexible Omni-channel Fulfilment: With ecommerce sales returning to pre-pandemic growth levels, services such as ship-from-store, click-and-collect, endless aisle and returns anywhere are all just table stakes today. Retailers are prioritising capabilities that help them to launch and scale omni-channel experiences faster by improving store fulfilment efficiency and enhancing the store pick-up experience. They create hybrid stores supporting online sales while meeting customers’ expectations for fast pick-up and delivery. Ship-from-store capabilities not only enable ecommerce orders to be shipped from stores, but stores can also ship orders placed in other stores. And with a unified view of inventory across all stores and DCs they can quickly see where inventory is located, and choose the fastest route to fulfil orders.
  6. Unified Channels Enhance Personalization: As buying journeys start online and store visits become more planned, customer expectations for a seamless ‘one brand’ experience rise. However, many retailers have channel silos – which means any interaction or activity that the customer had with them online is not available to the customer or staff within the store. Retailers deliver personalized experiences using AI and intelligence across online and offline channels, delivering timely and relevant communications, recommendations, offers, and rewards. This extends into other communications such as e-receipts and shipping notifications.
  7. Unified Employee Experiences: A great customer experience depends on a great employee experience. Retailers invest in employee efficiency and enablement, equipping in-store teams with relevant customer intelligence like loyalty points, wishlists, and sales histories – to equip them to add more value to their customer interactions. AI technology offers personalized upselling recommendations during click-and-collect pickups. Localized pricing ensures up-to-date, competitive pricing, empowering teams to make informed, on-the-spot decisions.

In conclusion, there’s a colossal shift taking place right now in how multi-store retailers plan, build and deliver their in-store customer experience. The prime driver behind this upheaval is the boom in ecommerce that is creating new online shopping habits and reshaping consumers’ expectations of in-store experiences. The synergy between the online and offline embodiment of a brand, understanding the customer’s path to purchase and shopping history have all become fundamental to creating lifetime customer value.

ETP Group has a proven and reference-able track-record of success supporting multi-store retailers at the forefront of omni-channel innovation, with a robust product capability and experience, and the right people and processes to move fast.

Leverage the Power of Omni Channel Retail Software: Strategies for Seamless Customer Experiences

With the rise of technology, omni channel retail software has become an invaluable tool for retailers. This powerful software enables businesses to integrate their various sales channels such as online stores, physical stores, and mobile apps into a single unified platform. In today’s highly competitive retail landscape, delivering seamless customer experiences across multiple channels is crucial for business success. In this blog, let’s look at the strategies to leverage the power of omni channel retail software and enhance customer experiences.

Understand Your Customers’ Journey:

To provide seamless experiences, it is vital to understand your customers’ journey across different channels. Omni channel retail software allows you to gather and analyze data from various touchpoints, providing valuable insights into customer preferences and behaviour. Comprehending how customers interact with your brand allows you to personalize their experiences and tailor your marketing efforts accordingly.

Integrate Inventory Management:

One of the key advantages of omni channel retail software is the ability to synchronize inventory across all channels. This integration ensures accurate stock levels, preventing a customer from placing an order only to find out that the item is out of stock. With real-time inventory visibility, you can offer customers the possibility to buy online and pick up in-store or vice versa and endless aisle, improving convenience and reducing the chances of lost sales.

Provide Consistent Product Information:

Consistency in product information is essential for building trust and providing exceptional customer experiences. With omni-channel retail software, you can maintain a centralized product catalogue, ensuring that all channels display accurate and up-to-date information. Whether a customer is browsing your website, or mobile app, or visiting a physical store, they should have access to consistent details about your products, such as descriptions, pricing, and availability.

Enable Cross-Channel Communication:

Omni-channel retail software enables seamless communication between different channels, allowing customers to switch between them without disruption. For instance, a customer can start an interaction on your website and continue it through a live chat on your mobile app. This cross-channel communication ensures that customers receive consistent and timely support, enhancing their overall experience with your brand.

Personalize Customer Experiences:

Personalization is a powerful tool for creating memorable customer experiences. Omni-channel retail software can track customer preferences and purchase history, enabling you to offer personalized recommendations and promotions. By leveraging this data, you can tailor marketing campaigns to specific customer segments and deliver relevant content across all channels. Personalization enhances the customer experience, increases customer loyalty, and drives sales.

Implement a Unified Loyalty Program:

An effective loyalty program can significantly impact customer retention and engagement. With omni-channel retail software, you can implement a unified loyalty program that rewards customers regardless of the channel they choose to shop from. This integration allows customers to earn and redeem points seamlessly, encouraging repeat purchases and fostering brand loyalty.

Embrace Mobile Technology:

Mobile devices have become an essential part of customers’ shopping journeys. Omni-channel retail software provides mobile-friendly features such as mobile apps, mobile-responsive websites, and mobile payment options. By embracing mobile technology, you can engage customers on their preferred devices, offering a convenient and streamlined shopping experience.

Conclusion:

In today’s omni-channel retail landscape, leveraging the power of omni-channel retail software is vital for delivering seamless customer experiences. By understanding your customers’ journey, integrating inventory management, providing consistent product information, enabling cross-channel communication, personalizing customer experiences, implementing a unified loyalty program, and embracing mobile technology, you can create a cohesive and exceptional shopping experience that drives customer satisfaction, loyalty, and business growth.

Embrace the power of ETP omni-channel retail software and stay ahead in the competitive retail industry.

Top 4 Reasons Why Having a 360 Customer View is Important in Retail

Understanding customers and their requirements is critical for success in today’s ever-changing business market. A 360-degree customer view gives businesses extensive and/or essential information into their customers’ shopping behaviour, allowing for personalised experiences and targeted marketing initiatives.

Here, we will look at the top four reasons why a 360-degree customer view is necessary in today’s competitive retail scenario, as well as how it may help promote business growth and customer satisfaction.

Enhanced Customer Engagement and Experience:

Customer expectations are at an all-time high in 2023. A 360-degree perspective enables companies to comprehensively understand their customers’ preferences, behaviours, and interactions across several touchpoints. Organisations can develop personalised experiences targeted to specific clients with this full picture. Businesses can anticipate customer demands, present relevant information, and create seamless interactions across channels by integrating data from many sources, such as purchase history, customer feedback, and social media interactions. This increased degree of involvement and personalised experience encourages client loyalty and long-term consumer satisfaction.

Improved Sales and Marketing Effectiveness:

Businesses can use a 360-degree consumer view to make data-driven decisions and optimise their sales and marketing activities. Organisations can detect patterns and trends in customer data, segment their client base, and target specific customer groups with relevant marketing campaigns by analysing customer data. Businesses may enhance their product offers, tweak message, and optimise pricing strategies with a better understanding of client preferences and behaviours. Furthermore, sales teams can use customer insights to uncover cross-selling and upselling opportunities, increasing revenue and conversion rates.

Strengthened Customer Retention and Loyalty:

Building solid client relationships and fostering loyalty will be critical for long-term success in 2023. A 360-degree customer view enables organisations to handle consumer complaints proactively, anticipate their needs, and personalise interactions. Organisations can take proactive actions to resolve issues and improve customer satisfaction by identifying possible pain points or areas for improvement. Furthermore, businesses can identify and reward loyal clients with personalised offers, unique discounts, or loyalty programs. This client-centric approach improves retention, lowers churn, and raises customer lifetime value.

Effective Customer Service and Support:

In today’s competitive business environment, exceptional customer service and support are crucial. A 360-degree customer view of the customer across channels provides brands with the insights they need to provide timely and personalised customer care. Customer service employees have access to a complete customer profile by integrating data from multiple sources, allowing them to give relevant and personalised support. This full perspective of client contacts aids in the resolution of issues, anticipating consumer demands, and providing proactive support. Businesses can improve customer happiness, create trust, and differentiate themselves from competition by providing exceptional customer service.

Conclusion:

A 360-degree client view is a need for firms in 2023, rather than a luxury. Organisations can create personalised experiences, optimise sales and marketing efforts, build customer relationships, and provide great customer service by acquiring full insights on customer preferences, behaviours, and interactions. As organisations attempt to fulfil their customers’ changing expectations, a 360-degree customer view emerges as a valuable tool for driving growth, improving customer happiness, and staying ahead in a competitive market. Utilise the power of a 360-degree customer view to realise your company’s full potential in 2023 and beyond.

Retailers can tap into the power of a 360-degree customer view by implementing ETP Group Retail CRM software. ETP Group enables businesses to understand and engage with their consumers on a deeper level through centralised customer data management, omnichannel integration, personalised customer interactions, increased customer service, and strong analytics. This all-encompassing strategy fosters consumer loyalty, boosts revenue, and positions companies for long-term success in the competitive retail world.

ETP Elevate: Events September 2023





ETP Group was the Ruby Sponsor at the Indonesia Retail Summit 2023


The event expo and conferences, which had the theme “ASEAN RETAIL: Epicentrum of Growth” was held at the Hotel Pullman Central Park, Jakarta, Indonesia on 14th-15th August 2023

Annual conference for retail industry with business leaders, experts, and government officials. Take your business to the next level

Indonesia Retail Summit 2023

ASEAN RETAIL: Epicentrum of Growth

Annual conference for retail industry with business leaders, experts, and government officials. Take your business to the next level

 

ETP Group was the Platinum Sponsor at the 29th National Retail Conference and Stores Asia Expo (NRCE) 2023 (Retail Solutions Asia)


Organized by the Philippines Retailers Association (PRA) and held at the SMX Convention Centre, Metro Manila on 10th-11th August 2023, the event was the largest gathering of retail leaders, shopping centre developers, and retail service providers in the Philippines. It brought together top industry professionals, experts, and service providers in the region to discuss the latest trends and technological innovations needed for a sustained retail success in the post-pandemic era. The event also provided opportunities for large-scale networking, learning, and collaboration in a lively manner.

At NRCE 2023, Mr. Neev Ahuja, Director – Strategic Initiatives, ETP Group spoke about ‘Unified Commerce in a Divided World’. The world today is closer than it has ever been before with technology and travel allowing us to be where we need to be in seconds, minutes, hours. However, with political polarisation, economic divides, international conflict, rapid AI advancement, the environmental crisis and the pandemic, we are simultaneously drifting further away. Keeping up with the times and catering to your omnipresent customer in today’s day and age is crucial, not just to survive, but to thrive. Let’s explore how we can achieve that unified experience for your customer despite the challenges this divided world presents us with.

Team ETP interacted with leading retailers in the region at the grand ETP Pavilion and discussed how innovation in retail technology can help them achieve business success. Visitors also got a chance to view a live demo of ETP V5 and Ordazzle – two outstanding, enterprise-class products powered by ETP Group – that help retail brands in elevating their retail and ecommerce performance on their Journey to Creating Amazing Customer Experiences!

 


 

ETP Group was the Omnichannel Technology Partner at the ETRetail Tech Summit 2023


With a focus on theme ‘Winning consumers across touchpoints’, the fourth edition of ETRetail Tech Summit 2023 took place on 25th May 2023 at Hotel Sofitel, Mumbai.

The day-long event brought together over 40 top retail, supply chain, and technology leaders on a common platform to engage in a physical exchange of ideas, technology showcase, one-on-one meet, and direct access to exclusive sessions on-ground. Top executives of different brands shared their take on the rising need of demand forecasting amid supply-demand volatility and various other relevant topics such as how brands are digitising in-store experience and winning consumers with tech-led loyalty benefits as well as how technology is at the heart of successful omnichannel e-tailing.

 

ETP was the Retail Technology Partner at #PRC2023


The Phygital Retail Convention (PRC) 2023 – India’s largest retail intelligence event – was held at the magnificent Jio World Convention Centre, Mumbai, India on 11th & 12th May 2023. The event aimed at powering the digital transformation of the retail industry in both online and offline markets of the fifth largest economy in the world. Digital transformation, though complex, can be extremely rewarding to those retailers who can be highly scalable. The event attracted the most prominent C-suite professionals and decision makers from some of the most exciting and iconic brands, retail and e-commerce majors from India and across the globe.

ETP Group, Asia’s leading enterprise-class retail technology company, is enabling both brick and mortar as well as online retailers to embrace unified commerce and drive their brands and customer relationships in a seamless manner. ETP brings you two outstanding products – ETP V5 and Ordazzle, with localisation in 24 countries across Asia Pacific. ETP V5 includes omni-channel modules like POS, CRM, Promotions, and Analytics so you can drive more traffic to stores, have a higher fulfilment percentage, and gain customer loyalty. ORDAZZLE is an e-commerce management platform that elevates the entire e-commerce journey so you can process millions of orders/day, meet delivery SLAs, and improve margins with marketplace reconciliations. And so much more!

At the Phygital Retail Convention (PRC) 2023 event, Team ETP engaged with leading retailers during a specially organized Sundowner and shared ideas on ETP’s rich and robust domain knowledge can help to digitally transform the retail landscape in India by elevating retail and e-commerce performance of the businesses.

Rise of Contactless Payments: How Mobile POS Software is Meeting the Demand

The global pandemic has increased the adoption of contactless payments, with consumers seeking safe and convenient ways to transact. Mobile Point of Sale (MPOS) software has become a powerful solution to this growing demand. By transforming smartphones and tablets into portable payment terminals, MPOS Software enables businesses to accept contactless payments anywhere. In this blog, we will explore the rise of contactless payments and how MPOS software is revolutionizing how transactions are conducted.

Improved Efficiency and Mobility

MPOS software enables businesses to conduct transactions beyond the confines of a traditional brick-and-mortar store. Whether it’s a pop-up shop, a mobile retail truck, or an outdoor event, businesses can easily process payments on mobile devices. This mobility not only expands the reach of businesses but also improves their operational efficiency. Staff members can assist customers throughout the store, reducing wait times and enhancing the shopping experience. The endless aisle feature on the mobile POS can elevate the store performance to a new level by reducing lost sales due to stockout situation.

Enhanced Security and Trust

Contactless payments through MPOS software offer enhanced security features that protect sensitive customer data. Encrypted transactions and tokenization ensure that cardholder information remains secure throughout the payment process. Moreover, contactless payments significantly reduce the risk of physical card fraud and skimming, providing customers with peace of mind. The trust instilled by secure contactless payments helps build stronger customer relationships and encourages repeat business.

Flexibility and Versatility

MPOS software caters to various payment methods, including contactless cards, mobile wallets, and QR code payments. This flexibility allows businesses to cater to a wide range of customer preferences. Additionally, MPOS software often integrates with other business management systems, such as inventory and customer relationship management (CRM) platforms, providing a holistic view of business operations. The versatility of MPOS software empowers businesses to adapt to evolving customer demands and streamline their overall operations.

Convenient and Seamless Transactions

MPOS software offers a seamless and convenient payment experience for both merchants and customers. By turning mobile devices into payment terminals, businesses can accept payments on the go, eliminating the need for traditional fixed-point terminals. Customers can complete transactions quickly and easily by tapping their contactless cards, scanning QR codes, or making mobile wallet payments. The convenience and speed of contactless payments enhance the overall customer experience and reduce checkout friction.

Cost-Effective Solution

Implementing MPOS software can be a cost-effective alternative to traditional point-of-sale systems. By utilizing existing mobile devices, businesses can avoid investing in dedicated hardware terminals. This eliminates upfront costs and reduces maintenance expenses associated with traditional POS systems. Moreover, MPOS software typically operates on a subscription or pay-as-you-go model, allowing businesses to scale their payment infrastructure as needed, without large upfront investments.

Analytics and Insights

MPOS software often provides valuable analytics and reporting capabilities that offer insights into sales performance and customer behaviour. Businesses can analyze transaction data, identify popular products, and better understand customer preferences. These insights help drive data-driven decision-making, optimize inventory management, and develop targeted marketing strategies. MPOS Software empowers businesses to leverage transaction data to fuel growth and improve operational efficiency.

Integration with E-commerce Platforms

MPOS software can integrate seamlessly with e-commerce platforms, creating a unified experience for businesses and customers. This integration enables businesses to synchronize inventory, process payments, and manage customer data across online and offline channels. Customers can enjoy a consistent shopping experience, whether in-store or online, leading to increased customer satisfaction and loyalty.

The rise of contactless payments has transformed how transactions are conducted, providing convenience, speed, and enhanced security. MPOS software has emerged as a key enabler of contactless payments, allowing businesses to accept payments anywhere, anytime through mobile devices. With its convenient and seamless transactions, improved efficiency and mobility, enhanced security and trust, flexibility and versatility, cost-effectiveness, analytics and insights, and integration with e-commerce platforms, MPOS software has revolutionized the payment landscape.

Unlocking the Benefits of Personalization in Omni-channel Retailing

In today’s highly competitive retail landscape, staying ahead of the curve requires embracing the power of personalization. As customers increasingly expect tailored experiences, omni-channel retailing presents a valuable opportunity to engage and retain them. Retailers can provide a unified and personalized shopping journey by integrating multiple channels seamlessly. In this blog, we explore the numerous benefits that personalization brings to the table in the context of Omni-channel Retailing.

Enhanced Customer Experience

Personalization lies at the heart of delivering exceptional customer experiences in omni-channel retailing. By leveraging customer data such as buyer preferences, purchase history, and browsing behaviour, retailers can customize interactions across various touchpoints. Whether targeted product recommendations, personalized offers, or tailored content, customers feel valued and understood. This fosters loyalty and drives repeat sales.

Increased Customer Engagement

In the vast sea of marketing messages, personalized experiences stand out. Through omni-channel personalization, retailers can craft highly relevant and timely communications that capture customers’ attention and resonate with their needs. By connecting with customers deeper, retailers can boost engagement metrics, such as click-through rates, conversion rates, and social media interactions, leading to more increased sales and brand advocacy.

Seamless Channel Integration

Omni-channel retailing breaks down the barriers between online and offline channels, providing customers with a seamless shopping experience. Personalization plays a pivotal role in ensuring this integration remains smooth and consistent. By tracking customer interactions across channels, retailers can deliver contextually relevant experiences such as personalized recommendations, payment method, or order fulfilment option based on previous in-store purchases. This channel synergy enhances convenience, reduces friction, and strengthens brand perception.

Improved Customer Retention

Personalization has the power to transform one-time customers into loyal brand advocates. By understanding customers’ preferences and purchase patterns, retailers can anticipate their needs, proactively offering tailored recommendations and incentives. Retailers can foster stronger connections through personalized loyalty programs and exclusive perks, driving customer retention and reducing churn rates. Satisfied, loyal customers are likelier to promote the brand through word-of-mouth, referrals, and positive online reviews.

Efficient Marketing Spend

In traditional retail, mass marketing campaigns targeting a broad audience often result in wasted resources. Personalization in omni-channel retailing allows retailers to optimize their marketing spend by focusing on high-value customers. By analyzing customer data, retailers can identify segments with the highest potential for conversion and allocate marketing resources accordingly. This targeted approach ensures that marketing efforts reach the right audience, maximizing return on investment and minimizing waste.

Data-Driven Insights

Personalization in Omni-channel Retailing generates a wealth of valuable data. Retailers gain insights into customer behavior, preferences, and trends by analysing their interactions across channels. These data-driven insights provide a competitive advantage enabling retailers to make informed business decisions. From product assortment planning to inventory management and pricing strategies, personalization-driven data empowers retailers to optimize operations and stay ahead of market trends.

As the retail landscape continues to evolve, personalization remains a powerful tool for success in omni-channel retailing. It helps retailers to thrive in a highly competitive environment by enabling them to offer enhanced customer experiences, foster engagement, and drive customer loyalty. The seamless integration of channels, improved customer retention, optimized marketing spend, and data-driven insights further cement personalization as a strategic imperative for retailers. By embracing personalization in omni-channel retailing with ETP V5, ETP Group’s robust and outstanding retail software solution, retailers can create meaningful connections with customers, delivering tailored experiences that leave a lasting impact.

 

 

Promotion Management Software: An Overview

 

Do you want to avoid managing promotions manually, struggling with spreadsheets, and missing out on crucial promotional opportunities? Look no further! An efficient Promotion Management Software helps to streamline your promotions planning process and maximize your promotional effectiveness. Here, we will give an overview of a promotion management software, its benefits, and how it can revolutionize your promotions planning and execution processes.

What is Promotion Management Software?

Promotion Management Software is a specialized tool that helps businesses plan, execute, and analyze promotions strategically and organizationally. It automates the promotions process, from ideation and planning to execution and evaluation. Promotion management software enables businesses to create, manage, and optimize promotions, ensuring they align with business objectives, budgets, and timelines.

Benefits of Promotion Management Software

Efficient Promotion Planning:

Promotion management software simplifies the complex task of promotion planning. It provides a centralized platform to create, manage, and track promotions across multiple channels, such as in-store, online, email, and social media. You can set goals, define budgets, allocate resources, and schedule promotions in advance, saving time and effort.

Enhanced Collaboration:

Promotion management software facilitates seamless collaboration among team members involved in promotion planning. It allows teams to work together in real-time, share ideas, and communicate updates. It also provides a historical record of promotions, enabling teams to learn from past promotions and make data-driven decisions for future promotions.

Accurate Forecasting:

Promotion Management Software provides powerful forecasting tools that help businesses predict the outcomes of promotions more accurately. It leverages historical data, sales trends, and customer behavior patterns to generate insights and recommendations for optimizing promotions. This allows businesses to make informed decisions and avoid costly mistakes.

Improved Promotional Effectiveness:

Promotion management software enables businesses to optimize promotions for maximum effectiveness. It provides analytics and reporting capabilities that allow businesses to measure the success of promotions in real-time. By analyzing the performance of promotions, businesses can notice what works and what doesn’t, and adjust their strategies accordingly.

Cost Saving:

Promotion management software helps businesses optimize their promotional budgets by providing visibility into promotional spend and ROI. It enables businesses to track and analyze the performance of promotions against budgets, identify areas of overspending or underutilization, and make data-driven decisions to optimize promotional spending. This results in saving costs and improving profitability.

Promotion management software is a powerful tool that can revolutionize how businesses plan, execute, and analyze promotions. It provides benefits such as efficient promotion planning, enhanced collaboration, accurate forecasting, improved promotional effectiveness, and save costs. With various Promotion Planning Solutions available in the market, businesses can choose the one that best fits their needs and objectives. By leveraging promotion management software, businesses can optimize their promotions strategies, boost sales, and increase profitability.

In today’s competitive business landscape, staying ahead in the promotions game is vital. Manual promotions planning can be time-consuming, error-prone, and inefficient. However, with the ETP promotion management software – ETP Accelerator, businesses can streamline their promotion planning and execution processes and gain a competitive edge. Whether you are a consumer packaged goods company or a luxury and lifestyle fashion retailer, the ETP promotion planning software can meet your specific needs.

So, why wait? Embrace the power of ETP’s promotion management software and take your promotions planning to the next level.