[vc_row][vc_column][vc_column_text]Showrooming occurs when a shopper visits a brick and mortar store to research a product before buying it online at a lower price. Although this process is more convenient for shoppers, it can be frustrating for retailers. Fortunately, there are a few tactics that can make your store stand out and create loyal customers who will chose to shop at your store instead of purchasing from a discount retailer online.
Solution 1 – In-store experience
One easy way to create repeat customers is to increase the quality of your in-store experience. Engage customers by amping up technology through an app or TV’s throughout the store. Great customer service will help establish a relationship with the customer that they can’t get with online shopping. You can do this by offering curbside pick-up or sending personalized cards on birthdays. Create a community with your customers by hosting events and workshops centered around the activities that complement your products.
Solution 2 – Be the expert
Educating the customer on the product can add value to them purchasing in the store. Hire employees who are knowledgeable and passionate about the product you are selling and train them extensively. Making sure employees are educated on the topics and experiences that go along with the product helps the customer feel comfortable purchasing from you.
Solution 3 – Using your data
Use the data from your POS and inventory management system to offer a personalized shopping experience for the customer. You can use a customer’s purchasing history to learn about their shopping habits. Send the customer personalized emails and coupons targeted to the products they normally buy. Use birthday coupons and other forms of personalization to make the customer feel valued at your store.
Solution 4 – Launch a website
If you haven’t already launched a website, you should know it can be the perfect way to showcase your products. Some customers don’t want to wait for shipping, so they may use webrooming (researching a product online and then buying in store) to check out availability and pricing. Your store has an advantage over larger websites by offering the convenience of in-store pick-up, easy returns, and trying before buying. Even if you don’t have a website, Facebook pages and Instagram accounts could help increase your web presence.[/vc_column_text][vc_column_text]
To learn more, see our full guide below:
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/1″][minti_divider style=”4″][/vc_column][/vc_row][vc_row][vc_column width=”1/4″][/vc_column][vc_column text_align=”center” width=”1/2″][minti_headline type=”h2″ font=”font-special” size=”fontsize-xxxl” weight=”fontweight-800″ lineheight=”lh-12″ transform=”transform-uppercase”]Download the Guide[/minti_headline][minti_button link=”/wp-content/uploads/2016/07/eBook-Winning-the-Sale-How-to-End-Showrooming.pdf” target=”_blank” icon=”fa-chevron-right” appear=”true” size=”medium”]Download Now[/minti_button][minti_image img=”3838″ lightbox=”2″ url=”/wp-content/uploads/2016/07/eBook-Winning-the-Sale-How-to-End-Showrooming.pdf” target=”_blank” align=”center” hover=”image_tilt”][/vc_column][vc_column width=”1/4″][/vc_column][/vc_row][vc_row][vc_column width=”1/1″][minti_divider style=”4″][/vc_column][/vc_row] [vc_row][vc_column][vc_column_text]One of the biggest concerns when it comes to managing inventory is shrinkage. There are several reasons inventory loss can occur. Preventing inventory loss and reducing costs can be manageable with the right POS and inventory management system.
Who
Before deciding on a strategy for preventing inventory loss, it is important to identify who is causing the loss. There are four main areas of inventory loss. According to the National Retail Federation, customer shoplifting is the most common, followed by internal theft from employees. Internal error, such as administrative and paperwork errors, and mistakes by the vendor are also common causes of shrinkage. Recognize where your inventory goes missing to choose an appropriate prevention strategy.
Why
Now that you know who is causing inventory loss, you should look at why these mistakes are happening. One of the main causes of human error is having the wrong POS and inventory management system for your business. Technology has become increasingly important in managing your business, so the wrong system could make you more open to theft and error. Internal theft and error can also occur when you choose the wrong employees or don’t train them well enough. Overstocked inventory and wrong layout can cause you to lose track of inventory. Lastly, if you don’t audit your orders from vendors, you could fail to notice incorrect or missing items.
Tips for prevention
Knowing where your inventory loss is coming from makes it easier to combat. Here are some tips to prevent inventory loss in your store:
Invest in a POS and inventory management system that helps you visibly track your inventory to prevent theft and error.
Conduct physical inventories once a month to catch any errors.
Install sufficient security to prevent and identify theft.
Keep your store clean and organized to keep track of inventory in the front of the store.
Place all high-target items in plain sight.
To see the full guide on preventing shrinkage in your store, click here.[/vc_column_text][vc_column_text]
Read the full guide below:
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/1″][minti_divider style=”4″][/vc_column][/vc_row][vc_row][vc_column width=”1/4″][/vc_column][vc_column text_align=”center” width=”1/2″][minti_headline type=”h2″ font=”font-special” size=”fontsize-xxxl” weight=”fontweight-800″ lineheight=”lh-12″ transform=”transform-uppercase”]Get the guide[/minti_headline][minti_button link=”/wp-content/uploads/2016/06/eBook-Inventory-Loss.pdf” target=”_blank” icon=”fa-chevron-right” appear=”true”]Download Now[/minti_button][minti_image img=”3712″ lightbox=”2″ url=”/wp-content/uploads/2016/06/eBook-Inventory-Loss.pdf” target=”_blank” align=”center” hover=”image_tilt”][/vc_column][vc_column width=”1/4″][/vc_column][/vc_row][vc_row][vc_column width=”1/1″][minti_divider style=”4″][/vc_column][/vc_row] Each month of the year is unique because they all have different holidays that people celebrate and that your store can utilize. February is a busy month, so check out some of these dates and events to look forward to and take advantage of!
Groundhog Day
Although it isn’t necessarily a traditional holiday, Groundhog Day (February 2nd) could be a good excuse to throw a party in your store! Build up the hype about the silly holiday and invite people in your store to find out if spring will come early, or if winter weather will persist for another six weeks.
Super Bowl Sunday
Throw a party in your store and share some tailgate and NFL-themed appetizers on Sunday, February 7th to celebrate Super Bowl 50! The Carolina Panthers are playing the Denver Broncos at 6:30 PM EST, so the afternoon would be a perfect time to host a party! This would be a great opportunity to get your local community together to shop and eat some good food.
Valentine’s Day
Sunday, February 14th is the day of love. Encourage shoppers to wander into your store the week leading up to the big day and help them find the perfect gift for their loved ones. Don’t forget to decorate your store with lots of pink and red!
President’s Day
Monday, February 15th, is President’s Day, which is a federal holiday – meaning many people will have the day off of work and school. Make sure to be prepared for the increase of traffic in your store!
What other holidays do you celebrate in your store? Tweet at us and let us know @RICSSoftware!
Are you a multi-store business owner looking for some tips on managing all of your stores? We are here to help! Technology is a key player in managing your stores, so it is essential that you are equipped with the right tools that will help your business grow. Having an inventory management system that tracks all of your stores’ inventory and ROI in real time will give you a huge advantage. Examining your stores as a whole is only possible with technology that allows you to access all of your stores’ data at once. If your retail technology is cloud-based, you can analyze your stores’ data anytime, compare data between stores easily, and update data from anywhere to all stores instantly.
Ensuring that you have standardized procedures in place will help your stores operate at optimal levels. You can start by organizing your stores similarly, both on the sales floor and in the stock room. Being able to transfer your inventory between stores is a huge benefit to being a multi-store owner. Instead of having to reorder products, you can look to your other stores and exhaust your own resources first.
If you have an inventory management software that you can use across all of your stores, you should make sure that you are analyzing inventory performance at least once a month. By keeping an eye on this, you will have a good idea of what inventory sells best at each store. This will be very helpful when it comes time to buy for your stores. Being able to pull reports from each store and map inventory sales across all of your stores helps forecast demand.
Another important aspect of owning multiple stores is keeping in close contact with each manager. You should check-in on your stores yourself at least once a month and spend time evaluating processes and procedures. This will ensure that your stores are standardized and will help you get a better idea of how each store is functioning.
Owning multiple stores can be very overwhelming at times. Be sure to check out our guide to multi-store management for more tips.
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