Originally posted on: Supply Chain Brain 

By Amber Hovious, VP of Marketing & Partnerships, Teamwork Commerce and SCB Contributor

The retail industry has changed dramatically in recent few years, in line with evolving consumer habits, advances in technology and growing competition. Consumers today expect the ultimate convenience when they take advantage of modern retail offerings such as buy online, pick up in store (BOPIS) and buy online, return in store (BORIS). To attract and retain customers in today’s commercial environment, retailers must be able to cater to consumer demands across all sales channels, and ensure that every touchpoint is seamless.

To achieve this, they need to deploy advanced omnichannel applications. Such tools provide a panoramic view of operations, from stock levels and customer purchase history all the way through to returns. In the process, they simplify key functions for retailer and customer alike.

Retailers today need to develop a unique selling point. One way to achieve this is through creation of a strong omnichannel strategy, involving access to real-time information about consumer shopping preferences, purchase history and frequency of purchases, both offline and online. A unified omnichannel system provides these valuable insights about customers, and enables retailers to tailor the customer experience.

As more businesses recognize the need for a consistent customer experience across platforms, adoption will increase. The majority of retailers believe that an omnichannel strategy is important. And the more brands that offer it, the more consumers will come to expect it.

An optimized omnichannel strategy increases customer loyalty. According to a recent survey from PwC, even if shoppers love a brand, 59% will leave after several bad experiences, and 17% will leave after just one. With the right omnichannel approach, retailers can boost customer satisfaction in a variety of ways, such as providing loyalty rewards that can be redeemed online or in-store.

For retailers, it can be difficult to determine which application is the best. The most common mistake is viewing their omnichannel strategy as an add-on, and not an integral piece of the operation. This can result in a disconnect between channels, and cause unnecessary complexities due to the need to manage multiple ecosystems.

Yet another factor to consider is integration of back-end systems, including finance, merchandising, order management, inventory, analytics and point of sale (POS). It’s critical to understand the cost and implications of integrating existing systems, to ensure that the retailer is able to meet demand of the moment. When Black Friday arrives, can it handle the spike in volume, and keep track of inventory in real time? It’s crucial to select the right technology partner with experience across systems and technologies.

An all-encompassing system provides a single, comprehensive view of all retail operations, and can be accessed remotely from anywhere in the world. It should be able to provide personalized recommendations based on data and performance, be scalable, and be open to future updates and integration.

Retailers must recognize that their digital and physical sales channels don’t exist in silos. Most fail to personalize the offline journey of customers, with data collected only at point of sale, rather than throughout the customer journey. This is a missed opportunity, especially since 76% of consumers have changed stores, brands or the way they shop as a result of the pandemic, and consumer loyalty has been shaken.

To sustain long-term growth, retailers must connect their online presence with their physical stores. Despite growing customer demand for a digital experience, physical stores won’t be going away anytime soon. On the contrary, they’ll take on new responsibilities to better support an omnichannel retail strategy.

These factors, along with increased personalization and access to massive amounts of customer data, make omnichannel strategies critical for survival in the new retail era. While the process is complex, it can be greatly simplified with the right automation and technological applications. The days of a successful brand being driven solely by one channel are over. Everything retailers do today requires strong coordination of cross-functional teams, from online to in-store operations. And everything begins with a clear understanding of consumer expectations.

Amber Hovious is vice president of marketing and partnerships at Teamwork Commerce.

Modern point of sale (POS) solutions have been helping retailers modernize their operations to provide a seamless experience for their customers. Beyond shopping malls and fashion retail stores, these POS solutions are hugely important for museum retail too.

Customers visit museums for an amazing experience. In today’s consumer environment, expectations are rising. This means the experience must be extended beyond the exhibitions.

Museums must provide a seamless experience for visitors. This should start at the admissions area and continue until the gift shop.

Every touchpoint in a museum experience should be simple and easy. From admissions ticketing at the start, to a souvenir shop at the end, the visitor’s experience should be enjoyable. This increases the chances of visitors returning, encourages positive online reviews and word of mouth.

Modern POS solutions can help museums give visitors the best experience. In this blog, we are sharing three of the best ways to use the technology in museums.

Queue Busting and Seamless Admissions

Customers often have a negative experience when operations are slow. This can be seen when waiting in long queues to purchase tickets or struggling to redeem an online gift card. To reduce queuing times and serve visitors quicker, museums must deploy advanced POS solutions that are well integrated with a wider technology stack and operate in real-time.

Teamwork Commerce’s Museum POS solution is designed to meet the unique requirements of museums and help them drive profitability. The software can be installed on iOS devices, removing the need for bulky, traditional terminals. This makes it easier for staff to serve visitors with efficiency.

The state-of-the-art solution can also be integrated with online ticketing platforms and different payment providers. Staff can quickly process payments, print online purchased tickets, and redeem gift cards. This makes the visitor experience smooth and seamless. 

Enhancing Experience at Museum Gift Shops

Gift shops, often one of the last touchpoints of visitors’ museum experiences, play a crucial role in visitors’ overall experience. In fact, going to a museum shop was one of the favorite activities for museum visitors in the US last year. Investing in appropriate technology to keep visitors happy, engaged and satisfied is essential.

Teamwork Commerce’s POS solution provides staff with all information, from in-store stock count to warehouse inventory, at a tap of their fingertips. This Point of Sale System offers retailers in museums a secure way to store data. It also allows them to analyze this data with Teamwork Commerce’s Reporting and Analytics software. This generates valuable insights for museum retailers which can help them make improved decisions in a more timely manner.

Furthermore, the software also helps museums manage their gift shop stock more efficiently. Teamwork Commerce’s solution communicates with wider technology – such as warehouse management and ecommerce platforms – in real-time, providing detailed information of all merchandise and enabling better decision-making. For example, if an item is selling fast, in-store associates can stock up to maximize sales and avoid stockout situations. All this not only helps museums become profitable but also keeps visitors happy by allowing them to purchase items they want. 

Leveraging Mobile POS in Fundraising 

Fundraising has changed significantly from what it used to be. In the past few decades, it was simply a matter of asking people to donate cash into a dropbox. Today, museums leverage unique ways to raise funds – and regularly organize special events both indoor and outdoor.

To make these fundraising activities more efficient, Teamwork Commerce’s mobile POS system allows museums to deploy these POS systems at offsite locations without hassle. This helps museums to transact seamlessly at fundraising events with take-anywhere functionality.

Summer holidays are fast approaching, and museums must stay prepared to be able to provide the ultimate customer experience to their visitors. With the right Mobile POS solution, museums can not only greatly enhance their level of service, but can also make the most of increased footfall to boost sales and profitability.

Museums have unique requirements and may need different reporting capabilities. Looking for a personalized recommendation? Book a customized demo here to find out how Teamwork Commerce can help.

Personalization has been a key driver of retail success for a number of years. Today, user data serves as a crucial enabler of personalized experiences. 82% of customers are comfortable in sharing their personal information with retailers for customized experiences. However, they have become more conscious about who they share their data with and how their data is used.

Last year, 70% of customers in Latin and South America claimed that their purchasing decisions are based on a retailer’s reputation for data protection. In fact, 40% admitted that they stopped purchasing from companies that violated data privacy laws, or just their digital trust. It is clear that retailers who fail to safeguard their customers’ data can lose their loyalty.

Data breaches have serious consequences. They impact consumer trust and bring financial, reputational, and legal implications. Retailers may be forced to pay huge penalties and suffer reputational and financial damage. Retailers must be able to mitigate these risks, and technology can play a pivotal role in helping them achieve that.

Mitigating Risks

To protect data privacy, retailers should take into account some actions beforehand. Cybersecurity training for employees and deploying a wider cybersecurity solution are essential practices today. However, these may not be enough to protect against the increased threat surfaces. To ensure high-level security, retailers must select their individual retail solutions wisely too.

Retailers utilize customer relationship management (CRM) tools to manage and store customer data. These tools must be compliant with the legal requirements of watchdogs. Teamwork Commerce’s Secure CRM solution is GDPR compliant and uses the highest level of security to protect customer data.

Furthermore, the state-of-the-art technology keeps customer data secure in a separate repository, allowing associates, devices and other integrations to access the information as required. The advanced CRM allows retailers to store all data centrally and ensure that information is not revealed or imported to local devices and systems.

Driving Personalization

Consumer habits and preferences continue to evolve, and retailers must ensure that the experiences they curate are valuable for their customers. They must use the latest solutions to reach their goal. These solutions can work with a retailer’s retail technology stack.

Teamwork Commerce’s all-encompassing software serves as a one-stop-shop solution for retailers, offering a variety of retail tools. These include a mobile point-of-sale system, secure customer relationship management, data analytics, order management, and Clienteling.

What’s more, the solution facilitates a clear retail vision in one place and makes it easy for retailers to track data and develop new strategies. At an individual store level, with this real-time data at their fingertips, store associates can answer customer queries and offer customized discounts accurately and quickly.

Taking a 360-Degree Approach

Personalizing customer experiences is essential. However, retailers must not put consumer data privacy at stake in order to achieve that. The retail sector is a primary target for cybercriminals who are looking for opportunities to penetrate and steal customer data. Retailers who skimp on securing this data can easily become vulnerable to potential cyberattacks.

Retailers must take a holistic approach that covers all aspects of their business. Retailers’ strategies and solutions should work together to ensure long-term success. This includes driving personalization, managing supply chain efficiency and ensuring high-level security.

Want to prioritize data privacy while still being able to tailor customer experiences? Get in touch.

Consumer demands are at the heart of retail and being able to cater to these efficiently helps retailers drive sales. However, retailers who want to thrive in the long-term must understand that customer values are just as important as their demands. Of course, these values differ from generation to generation and retailers must be able to navigate their priorities as consumer preferences continue to evolve. For example, with the growing purchasing power of Gen Z, colloquially known as Zoomers, retailers who are able to win their trust will ensure long-term success as they become an increasingly dominant customer.

Zoomers are highly conscious about the impact their purchasing decisions have on the environment. According to Statista, 62.7% of Gen Z consumers care about tracking their environmental impact, with 75% ranking environmental sustainability as a top factor in their purchasing decisions. It is clear that environmental impact is becoming a significant priority for today’s consumer, and retailers must find ways to minimize their carbon footprint, and establish greener operations.

Technology can play a prominent role in delivering this. From supply chain management to in-store services, retailers can harness the power of advanced solutions to become more environmentally sustainable by making a few considerate adjustments. 

Going Green With Effective Forecasting    

As a consequence of ineffective forecasting, retailers often face situations where they have either run out of stock, or have an overabundance of it. The former has a negative impact on sales, whereas the latter unnecessarily increases waste. The additional emissions created from manufacturing, transporting and storing these products further impact the environment negatively.

To be able to forecast effectively, retailers must have clear visibility of their inventory and wider retail operations in real-time. Teamwork Commerce’s Inventory Management solution allows retailers to gain dynamic control over their inventory with just a tap of a button.

Going beyond automation and real-time reporting, the state-of-the-art solution provides customized recommendations to retailers based on their historical data and ongoing trends. These personalized reports enable retailers to order appropriate items, at the right time and in a suitable quantity – all of which ultimately helps them boost efficiency and reduce waste and carbon footprint.

What’s more, the solution can be integrated with in-store point-of-sale (POS) systems to also help in-store associates make more informed decisions. With 87% of Zoomers wanting a personalized shopping experience, the right POS technology can help store associates customize experiences, having all relevant information at their fingertips.

Enhancing the Value of In-Store Shopping

In addition to providing the ultimate in-store customer experience, retailers must put sustainability at the core of their bricks and mortar operations to win Zoomers’ trust. They can achieve this in a number of ways, whether by rewarding customers who bring their own recyclable shopping bags, or promoting paperless transactions leveraging mobile POS (mPOS) solutions, retailers need to adopt ways to prioritize sustainability at every single touchpoint.

Retailers can leverage Teamwork Commerce’s cutting-edge POS solution to visualize customer purchasing habits across all sales channels and segment customers. This can further enable retailers to create exclusive discounts and rewards for customers who bring their own recyclable shopping bags.

What’s more, retailers can create individual customer profiles from the POS solution and keep their order receipts stored in the cloud to promote paperless transactions. This also eliminates the hassle of carrying receipts to exchange an item or process returns for customers.

Preparing for the Future

Zoomers are expected to remain a key generation for retailers, and those who meet their demands and values can put themselves in a winning position. In a fiercely competitive retail industry, it is essential that retailers begin to transform their traditional approaches based on the values of Gen Z. Moreover, becoming more sustainable at its core enables retailers to reach corporate social responsibility (CSR) goals more easily.

Retailers should go the extra mile to reduce their carbon footprint, not only to appeal to consumers, but also to play their wider role benefiting the environment. Leveraging technology to its full potential can help retailers create environment-friendly choices for customers, which can ultimately put them at a competitive advantage.

Need a hand in sourcing the right solution for your business? 

Teamwork Commerce is a flexible tech stack for retailers that includes POS, OMS, Clienteling, Inventory Control and Reporting – a cloud-based system that is constantly evolving to provide cutting-edge technology to meet the needs of the ever-changing retail landscape. With Teamwork’s omnichannel solution, retailers gain a deeper understanding of their customers to provide personalized experiences through invisible technology.

Trusted by top retailers globally including, Moose Knuckles, Colorado Rockies, Asics, Milwaukee Bucks, and Catbird. 

Learn more at www.teamworkcommerce.com.