There is no question that the retail industry is changing, and if you have a smaller 'high-street' shop, you know that you need to keep pace with development and stand out from the rest. You're no longer worried about the big box superstore on the outside of town, as people seem to be buying more of their products online, but if you provide them with a great experience when they visit your shop, your clients are still likely to give you their custom. You may think that tradition and authenticity are two of the most important factors and will always want to retain these, but you've still got to adopt modern-day practices to provide a seamless experience. With that in mind, do you have the right type of technology at your place?

Taking Advantage

Up until quite recently, you may not have had access to the type of technology enjoyed over at that big box store. This may have given them something of an advantage then, but you can introduce point-of-sale solutions so that you can definitely close the gap.

Intelligence

When they were first introduced, point-of-sale systems were functional, but that was about it. Today, however, you can use them to gather intelligence and launch a far more effective marketing campaign. Typically, these systems will have many additional elements to help you gather the information and use it for future planning.

Pattern Analysis

For example, you can determine your traffic patterns to a very precise degree and figure out how they will affect your stock rotation. This will help you to roll out more specific deals or offers on certain days or at a strategic time. You will then be able to gauge the effectiveness of these campaigns and determine your conversion rates. This will allow you to make very small but precise alterations as you maximise your advantage.

Profiling

You should try to gather your customer profiles at the same time so you can work out why a specific product sells to a certain type of customer. Offer a new client a clear incentive to give you their data, and you can create a better experience going forward. Just remember to get their formal permission if you decide to contact them through electronic means or intend to store their data in any form.

Taking Advantage

Remember, point-of-sale technology is not simply a tool to help you cash people out more quickly. Talk with your equipment supplier and see how the latest developments can help you to improve your business.