Retail is an important driver for the economy of any country. In Chile, for example, the research firm Euromonitor International forecasts growth of around 1.9% for this 2018, to total commercialization close to 52 billion dollars.
In this context, the retail industry warns that the stakes in growth are placed in the definition of an innovative and closer to customers commercial strategy and the opportunities for efficiency and operational excellence’s improvement in the business, among other factors, which ultimately lead to a better and consistent shopping experience. So the question is how to deliver a shopping experience of excellence, and at the same time, be efficient in the resources allocated for it?
First, we must understand the main headaches in-store management. They become evident when analyzing retail companies and their main problems in point-of-sale execution:
- Difficulty handling a large amount of information within the company can lead to inconvenient decision-making and a lack of agility in identifying and solving problems.
- Lack of coordination and inefficiency in using the different internal communication channels, which can lead to a decrease in productivity.
- Lack of planning and prioritization of daily tasks in the stores and the absence of people in charge can lead to poor execution and a lack of agility in reacting to problems.
- Lack of control and visibility of stores or points of sales’ processes could result in high-resolution costs or poor shopping experiences for customers.
Since deficient coordination and control can drastically influence profitability levels, optimizing retail operations becomes critical.
The solution: retail technology
Through digital transformation, companies can drive innovation initiatives and optimize store operations with automated systems that connect, manage, and ensure the correct interpretation of data needed to improve the quality and speed of workflows, and thus, the customer shopping experience.
Today, it is possible to have technological solutions that solve the problem of visibility, communication, and strategy execution in the different points of sale, all from a single platform.
By investing in this retail technology, it is possible to:
- Centralize the audits of all stores to obtain maximum visibility and the possibility of immediately executing the corporate strategy at a global level.
- Unify the communication channels between the different areas, accelerating the communication processes to and from the stores.
- Ensure the execution of work routines by evaluating the productivity of the team, which means greater responsibility and commitment from store associates.
- Manage and prioritize tasks, following up on those responsible for carrying them out, ensuring that everything runs smoothly.
In short, an investment in technology makes it possible to align, measure and manage the company’s objectives; to be more efficient and productive, ensuring an optimal shopping experience; and finally, to obtain greater profitability.
A clear example of an efficient solution for digital transformation is Frogmi, a software specially designed to achieve operational excellence and optimize store execution, simplify and monitor workflows in retail companies, impacting productivity, shopping experience, and profitability.