We live in a state of technology overload. Everywhere we turn, there is always some new technology that is developed to enhance the way we live and interact with each other. Whether it’s Facebook to keep us connected with our network or the Apple Watch tracking our physical activity. When it comes down to it, one aspect that is shared across all technology is time.
As a millennial, I’m overwhelmed by the rapid pace of technology. Once I learn how to use one application, a new one is already out. Fortunately, I’m not alone. Regardless of what age you are, people are constantly competing for your time and it may be difficult to realize who is providing you the most value for that time.
If you are retailer, you are familiar with this struggle. With Amazon testing out drone delivery, it is easy to think that you need to partner with technology companies that help you deliver product to your customers. Or with larger retailers using ecommerce websites to increase their sales online, it is tempting to invest in a webstore.
While the above technologies are important, at the end of the day, none of them save you time. One of the enemies of retail success is inventory. If you have too much inventory, then you are leaving money on the shelves. If you find yourself with too little product, then you are missing sales opportunities.
Inventory is only one aspect of running your business. There are plenty others such as how you engage your customers and what your in-store experience is like. Take a moment to reflect on what you’re doing to use technology to control your store’s success. Where are you saving your time and where are you spending it?
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