Singapore’s retail business was one of the many industries that was greatly affected by the global pandemic.
Today, many businesses are adopting different IT and digital solutions so that they can improve their business efficiency and grow their business.
There are so many different technological solutions in the market. Thus, it can be tough to discern what is a necessity and what is a luxury.
Hence, here are three essential digital solutions that retailers should adopt.
- Ecommerce Website
- Data Analytical Software
- Point Of Sales System
Due to lack of physical traffic, businesses now understand the harsh truth of the current retail climate.
Due to the prevalence of the Internet, customers have adapted to a digital landscape where buying products online is a norm.
Thus, retailers that do not have an ecommerce platform, find themselves unable to survive.
Hence, they’re beaten by companies that provide similar if not identical products that are accessible at any time.
Benefits of an eCommerce platform
It is important to realize the benefit that an ecommerce platform can provide to retailers.
There are three core benefits to an ecommerce platform which are further explored below.
Firstly, an ecommerce site gives the business reach to a significantly larger pool of potential customers.
Customers can access the ecommerce website anywhere at any time. However, business owners would have to make sure potential customers are aware of the page. Moreover, they have to assure potential clients that shipping will not be a problem.
Secondly, an ecommerce site provides a great marketing tool for the business. Sales promotion or marketing effort can be published on the front page so that any visitor can see.
Lastly, ecommerce easily allows the business to scale. Be it one new product or one new category, retailers can easily add them to the business through product offering,
Check out this article for a more indepth read on retail ecommerce.
Data Analytic Software
In order to grow a business, business owners need to understand the reason for its performance.
If the business is doing well, so then what is contributing to the success?
If it’s not doing well, so then what is the business lacking in?
Data analytics software can help identify key opportunities and weaknesses. Moreover, it can highlight key insights which business owners can use to make better business decisions.
There are a wide range of data analysis software so that analysing anything from sales patterns to inventory management is effortless.
Therefore, if you’re looking to expand your business, it is vital that you adopt a data analytic software.
Point of Sales System
Point of sales systems are an essential part of every retail system.
They’re the check out point in the customer’s point of view. However, many retailers make the mistake of just treating it as a mere cash register.
In fact, a modern POS system has advanced into a system that helps enable and improve a business.
Besides the typical POS system functions, our POS system is able to integrate with accounting and eCommerce software. It can also manage inventory and collect and analyse the sales data to provide clear and implementable recommendations.
Thus, it is so much more than just a functioning cash register. A modern POS system can provide retail owners an all-in-one platform for them to manage their entire business. Thus, using a POS makes things effortless for a manager.
Click here for a full list of Singapore’s top retail POS System by IT.com.sg.
Interested to see what EPOS POS system can do for your business? Fill in your contact details and we’ll reach out to you to schedule a demo.