Restaurants Point Of Sale – Ledger Pro Financial Solutions

How Retail Leverages Self-service for Increased Sales

Each year, retailers strive to find a balance between competitiveness and profitability. Consumers, with more choices than ever before, are looking for the best products, experiences, and prices. Retailers are doing their best to deliver; however, with an average net margin of only 2.65%, increasing store traffic, finding efficiencies, and cutting costs are essential to staying in the black. To maintain market share in this dynamic space, retailers are turning to interactive digital experiences as a solution.

How Interactive Touch Screens in Retail Lead to Increased Revenues and Profitability

The transition to digital engagement in retail has been gaining ground over the past few years, but it was accelerated in 2020 due to the COVID-19 pandemic. E-commerce skyrocketed, growing 43% in the U.S. in 2020, and ushering in a new era of digital-first consumers. When stores reopened, shoppers expected the same access to information and instant gratification that e-commerce provides, driving brick-and-mortar retailers to adapt in-store experiences to meet those demands.

However, the shift in consumer behaviors coincided with supply chain disruptions and shortages that led to rising costs. These changes created an urgency to find solutions that help businesses improve efficiency and profitability.

Retail In 2023: Key Considerations For The Future Of Shopping

As the retail industry continues to evolve in the wake of the pandemic, it is essential for retailers to stay ahead of the curve and meet the needs of the post-pandemic shopper. Tony Boncore, one of Honeywell’s retail experts, has identified the biggest change that will impact retailers in 2023: consumers. With easy access to information and options, shoppers have become more demanding and expect their needs to be met immediately.
In order to adapt to this new normal, retailers must adopt a unified commerce approach. This means meeting customers everywhere, from stores to websites to social media channels, with consistently excellent shopping and buying experiences. Additionally, retailers must minimize friction in all areas, from the salesfloor to the checkout experience.
To sustain or grow brick-and-mortar sales, retailers must invest in technology that enhances the frontline worker experience. This includes equipping salespeople with the technology they need to deliver a great customer experience and mimicking the personal devices workers use every day.
Finally, retailers must recognize that their employees are shoppers, too, and understand the shopping experience. By investing in in-store technology, retailers can align everyone’s expectations and drive productivity.
By taking these

steps, retailers can ensure they are ready to meet the needs of the post-pandemic shopper.