Start 2022 off right with our tips for retail efficiency. Learn how to improve operational efficiency in retail!
Creating engaging in-store customer journeys is important to your customer experience. Because it not only captures attention to create memorable experiences, but helps grow your customer base and loyalty. In 2022, a significant percentage of consumer shopping is taking place online, but this doesn’t take away from the importance of an omnichannel strategy because brick-and-mortar retail stores are still top of mind for consumers. With the right interactive tools, like innovative in-store displays, you can create memorable content that captures the attention and loyalty of consumers.
Online analytics software captures data and provides insights, but do you wonder how you can capture important data at the brick and mortar level? SensorMedia’s proprietary SmartCircle SaaS (Software as a Service) makes it easy to figure out what’s capturing your customers attention, because it allows for informed data driven decisions, improving retail efficiency.
SmartCircle™ SaaS empowers stakeholders, because it provides a real-time window into the performance of your in-store campaign. For instance, it measures how promotions and content are being interacted with in-store, to planogram compliance. Due to the additional overhead involved in brick and mortar retail operations. It’s important retailers with physical locations ensure their stores operate close to maximum retail operational efficiency.
Retail Efficiency – Live device status checks can cost each store over $300 per month
When evaluating and planning retail efficiency improvements, brands should consider maximizing potential revenue, which includes brand image, customer experience, and sales, while optimizing expenses such as labor, costs, and the one thing you can’t recover, TIME.
The below “How it works” graphic how in 3 simple steps, our display management in retail SaaS SmartCircle™ contributes to retail efficiency.
One of the ways SmartCircle™ helps is by allowing device statuses to be monitored remotely in real-time. So it reduces the time store staff need to dedicate monitoring. SmartCircle ensures devices are operating as planned allowing staff to focus on high value tasks.
“One missed sale can equal thousands of dollars in loss revenue”
Consider this, if store staff are only spending 30 minutes a day ensuring devices are charged and operating properly can be costly. Because at $12.50 per hour, it’s costing you over $300 per month, per store. And that loss grows as hourly labor costs rise. It’s also important to consider, even one missed sale can cost you thousands of dollars, because you consider the loss of the service plan contract and device sale. And, the impact of these loss sales only continues to grow as popular device MSRPs continue to rise.
Retailers should be constantly looking for retail efficiency improvements. Tools like cellular digital signage and digital price tags are crucial for many reasons because:
Increasing retail efficiency with lower operational costs allows you to pass on efficiency savings to customers by offering better prices. Using SmartCircle™, you can update pricing across all stores with the touch of a button using Digital Price Tags, which reduce in-store human pricing errors considerably and allows you to audit prices and planogram compliance remotely, around the world.
You can allocate Cost savings to invest in attracting new customers. Such as, marketing campaigns and to increase your bottom line. Retail efficiency is important to stay competitive with online stores.
Physical stores allow for memorable and positive customer experiences. It’s important to recognize the advantage cell phone retail displays provide consumers. For instance, the ability to touch and feel devices, differentiates in-store shopping from online. SmartCircle™ SaaS lets you track those in-store interactions to improve customer experiences. Data insights and quick remote updates at the touch of a button increase retail efficiency, simplify processes and save time.
The time for digital transformation through our carbon neutral, cell phone store software, SmartCircle™, is now! Competitors are making data driven decisions, and you can’t afford not to. Our easy-to-use SmartCircle™ display management SaaS for instance, not only helps to improve retail efficiency but ultimately profitability!
Let’s close the circle! Book a demo to see how our easily scalable SmartCircle™ can improve your retail store efficiency today. Subscribe to our monthly newsletter below to receive monthly updates in your inbox.