[vc_row][vc_column width=”1/1″][minti_testimonial author=”Joey Pointer” company=”CEO, Fleet Feet”]”We rolled out an ecommerce platform and we wouldn’t have been able to do it without RICS.”[/minti_testimonial][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]At RICS, we support retailers integrating with new solutions to help grow their business. We’ve integrated with trustworthy partners offering e-commerce solutions, payment gateways, gift and loyalty solutions, EDI, Open-to-Buy Consulting, and more. These reliable and trustworthy partners connect to RICS so you can keep up with the trends of retail technology. Click here to see learn more about the current integrations with RICS software.
USING THE RICS API
We’re excited and ready to help you integrate with RICS to meet your technology needs. Due to our current development initiatives, we won’t do the custom programming of the integration. Using your development team or a partner, RICS’ API can be accessed to create custom integrations. Our services team will work with your developers throughout enablement.
WE WANT YOUR INTEGRATION SUGGESTIONS
RICS is already integrated with tools and services to help your business perform at its best. However, there are always opportunities for new integration ideas! We’re open to exploring integration suggestions with your help. Implementation often doesn’t require custom development, but it does require a validation process to ensure the 3rd party adds value and is feasible using the RICS API.
Our integration enablement process follows four steps:
Client suggests an integration
RICS enabled API access if the integration is purposeful and feasible
RICS provides acceptable API usage guidance to client and integrated third-party
RICS monitors to ensure API guidelines are met
Don’t hesitate to reach out to an Account Manager at any time to discuss initiatives like these. You can contact us at email@example.com to start the conversation.
Do you want to increase cash flow?
Your cash flow and profitability depend on inventory productivity (i.e., does it sell or not and how fast). If you can improve this value, you can improve the profitability of your store. So, what can you do to improve your inventory productivity?
Analyze product performance
As a general rule, you can improve your cash flow by 1% for every 1 week of improvement you achieve in inventory turns. Turns are the rate at which inventory is sold within a certain time frame. This is an important indicator of how efficiently a product is moving through a sales cycle. You can use turns to discover what products sell most quickly and make you the most money (note: products selling at a faster rate usually sell at full price and higher margins). On the flip side, slow inventory turnover is an indicator of lost opportunity.
Here’s how to improve your inventory turn rate:
Analyze your turn data at the class, brand, and product levels to identify inventory performance
Mark down stale products to sell them quickly and make room for better-performing products
Invest your cash into high productivity classes, brands, and products
Making these decisions will improve your inventory productivity to increase cash flow. What would it look like if your business could increase overall inventory turn by shaving off just one week off inventory age? Find your potential cash flow increase:
Total number of sales X .01 (1% improvement from 1-week turn increase) = cash flow increase
That’s a powerful number! RICS system provides turns, return on investment, and gross margin rate of investment on our sales reports so you don’t have to mess with calculating it yourself.
No more guesswork, no more hunches.
Get control of your inventory to increase cash flow. Need more help? Click below to register for our upcoming webinar or check out our guide, Cash Flow: How To Use Inventory Management to Make More Now.
[vc_row][vc_column width=”1/1″][vc_column_text]As a retailer, your technology is incredibly important to running a successful business. Whether you’re using customer data to deliver personalized messages to your shoppers, or looking up inventory for a customer on the sales floor, having a system that works for you is a crucial part of your business. When it comes to choosing a POS and inventory management system, you want to make sure you have a partner with all the functions you need.
We know that finding that perfect partner can be a challenge, that’s why we want to help you identify the top questions that can help you identify if a POS provider is right for your business.
What industries do you service?
You’re not a cupcake shop, so why would you use a POS system that was built for one? As a footwear or apparel retailer, it’s incredibly important to find a system that can support the way you do business. A system that boasts a one-size-fits-all model doesn’t give you the functionality you need to run your business. Finding a solution built for your industry means you’ll have all the functionality you need to run your store and is a proven solution for other retailers like you.
Are you cloud-based?
When it comes to how your POS system is hosted, it’s important to ask if a provider is an installed solution or is cloud-based. Installed solutions may seem like a one-time expense, but the reality is they can cost a lot more over the course of time. Installed solutions require servers that need to be maintained and lack ongoing support and software updates. With a cloud-hosted solution, you eliminate costly servers and ongoing maintenance, and move to a solution that is constantly being updated and supported. Additionally, cloud-hosting gives you the ability to access your data from anywhere so you’re not longer chained to your store when making business decisions.
What is your support model?
As you’re evaluating systems, it’s necessary to ask about your access to support. Is ongoing support an added cost or is it included with your basic contract? You want to go with a provider who not only gives you access to unlimited support, but also includes education as part of their support model. Whether education comes in the form of webinars or training guides, it’s nice to know you’ll be able to continue education and training on your own time.
Thinking about switching your POS? Download our free guide to learn more about choosing the right POS for your business.[/vc_column_text][/vc_column][/vc_row] Although online shopping is becoming increasingly popular, customers are continuing to shop at brick and mortar stores at a steady rate. Yes, online shopping has its benefits: it’s easy, it’s convenient, and sometimes it’s less expensive. But you lose the face-to-face customer experience that you can only find when shopping in the store. Often, it is the positive interactions with salespeople that keep customers coming back to your store for more purchases. These happy customers are also likely to talk about and recommend your store to their friends.
Are you looking for more ways to enhance your customers experience in your store? Read on.
1. Make a great first impression.
It is always a nice feeling when someone acknowledges your presence. A simple “hello” or “welcome” usually does the trick.
2. Get to know your customers.
Ask them questions: Can I help you find something? If the answer is no, then skip to #3. If the response is yes, get answers: Is it for you, or someone else? Is it for a specific occasion? Make sure you can help them find what they are looking for.
3. Understand some people just want to look around.
Be okay with that, but let them know you’re there to help.
4. Offer to help.
It can be difficult to know how something is supposed to be worn or used. Make sure you are assisting your customers if they are having difficulties with trying something.
5. Provide a consultation or a recommendation.
People don’t always know what shoe would be the best for their lifestyle, or if they are wearing the right size. Customers appreciate receiving honest advice from a salesperson before making a purchase decision.
6. Implement frequent buyer plans.
This keeps customers coming back into your store and incentivizes them to continue making purchases.
7. Have a referral program.
This is the ultimate gift that keeps on giving! Person A tells friend B to go to store C. A gets a reward, B gets a discount, and C gets a new customer!
8. Give out free samples.
Because who doesn’t love free stuff?
One of the easiest things to remember is the Golden Rule: treat others as you would like to be treated. Or, think of great experiences you’ve had in another store and reflect those in your own store. If your store is on point with its customer experience, then you’ll likely be better off than your competitors.
Looking for more advice? Check out our guide:3 Simple Concepts to Enhance In-Store Experience.
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