The creation of different retail stores, such as discount stores, off-price stores, specialty stores, and e-commerce stores, is the outcome of the retail landscape’s expansion during the rise of the marketing era. And currently, there are at least one million retail establishments across the United States.
Due to the abundance of retail stores, businesses in the industry have become more competitive. They implement different sales and marketing strategies to encourage consumers to continue buying products at their shop, acquire new customers, and generate more revenue.
However, retailers should not only rely on these techniques to achieve the abovementioned results. Instead, they must also acquire the essential equipment and leverage technology, creating a seamless and more personalized customer journey.
Shopping baskets and carts are among the vital equipment a retail establishment should have to generate more sales. These material handling equipment allow customers to conveniently and comfortably carry as many items as they need. Accordingly, besides baskets and carts, security cameras are also crucial equipment that ensures staff and customers’ safety. These are not only useful in preventing theft within the store’s vicinity, but they also help improve customer service.
Moreover, in this digital era, leveraging technology can help keep retail businesses competitive. Many retailers are now using digital signages, POS solutions, and electronic or magnetic shelf labels. Digital signages can effectively promote in-store events, increase in-store traffic, and boost sales. Meanwhile, POS systems can be used to implement effective inventory management. Employing POS solutions can also allow retailers to capture buyer behavior, which will enable them to personalize and target marketing campaigns to their target market.
Furthermore, shifting to a more time-efficient and cost-efficient shelf labeling system allows retail establishments to reduce labor and material costs when replacing paper label tags. Digital price tags can display more product data besides the price. These can also display detailed product information and various media, including full graphic images, product logos, and pictures.
This infographic from SoluM provides more details on the five essential equipment retail stores must have to keep their businesses competitive in the industry.