Overcoming the risks of poor store visibility

 

No matter how much effort you put into creating manuals and training protocols, keeping tabs on how your policies are executed is a challenge. After all, it’s impossible to know exactly what your store employees are up to day in and day out. But ultimately, your profits are in their hands.

 

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Selecting new technology | Corporate reporting and dashboards

 

As a retailer, you’ve got a ton of data. You accumulate it from customers, employees, vendors, partners, software and hardware, over long operating hours and from hundreds or thousands of stores. All that data can give you a competitive advantage by allowing you to make faster, better decisions — if you make sure it’s consumable and actionable. Understanding your data is vital to knowing what’s really happening in your stores.

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Improving retail efficiency: 6 ways you might have missed

 

The introduction of credit cards and mobile payment didn’t mean people suddenly stopped paying for things in cash. Likewise, the introduction of self-checkouts and digital reporting didn’t mean retail workers became obsolete. Far from it.

 

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Selecting new technology | What does POS integration mean?

 

When it comes to retail technology, integration to the POS is crucial. Without proper POS integration, devices operate and produce data in a silo data that must be interpreted and communicated elsewhere by store-level employees. Corporate employees must then aggregate this data from all stores to get the information they need, making dealing with the devices a time-consuming and error-prone endeavor.

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How will gas stations respond to the 2020 EMV deadline?

 

By the end of 2016, the slow pace of automated fuel dispenser (AFD) upgrades made it clear the 2017 EMV deadline was not going to be met. The complexity of upgrading AFDs and the limited number of regulatory-compliant EMV hardware and software vendors fueled the decision to push the EMV deadline back to 2020.  

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What’s your cost of accepting cash?

 

When I talk to retailers about their challenges, the cost of accepting cash doesn’t usually top their list of concerns.  Typically, it’s for one of two reasons: either they don’t realize how the cost snowballs based on a wide variety of factors, or they’ve simply decided that there’s nothing they can do about it. Most retailers I speak with aren’t even sure what their cost of cash is in the first place. But in some retail verticals, the cost of cash is higher than the cost of accepting credit.

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Mobile payments | Why aren't consumers biting?

 

There are plenty of futurists preparing consumers for the next wave of tech: pretty soon, they say, all our cars will drive themselves, all our household devices will listen in on our conversations and predict our desires, and there will be no need for wallets – cash, card and check payments will be obsolete.

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Battle the cost of noncash payments by understanding cost of cash

 

The payments landscape is ever-changing, but traditional payment types still rule. Noncash payments are up, and of course people still like to use cash. To offer great customer experience, you’ll have to accept a healthy mix of payment types — but you can only control the cost of one of them.

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Every minute counts in stores and at corporate


In retail, every single minute your employees spend with customers counts toward customer experience and your bottom line. With minimum wages rising sharply across the country, your employees’ time is about to account for a larger portion of your operating costs than ever before.

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NRF 2017 | Optimization, flexibility and analytics

 

NRF 2017 was a whirlwind of activity – between demos, sessions and meetings I was definitely ready to put my feet up at the end of each show day. It was my first time attending NRF, and I was struck by the vast variety of technologies on display. From virtual reality to facial recognition, it was clear that there are a lot of solutions available to address retailers’ challenges in every area.

 

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