If you were to sit down with a business decision maker to talk about current challenges, there is a good chance that the topic of the latest technology will come up. If this talk is happening with a retail executive, it can be a touchy subject.
This is because systems like e-commerce and mobile devices have created a different way for consumers to interact with retail establishments. Not only has this bred an era of retail competition, but those that have not adopted the platform run the risk of falling behind. While many are quick to call the online realm the future, an article from CNN Money makes the case that brick-and-mortar locations will still play a major role in how customers shop.
"No one is predicting the complete demise of the physical store. Local retailers – where you can touch, smell, and feel the product – still offer value," the article reads. "What's changing is that retailers have begun to recognize the need for experiential events to lure customers."
The article goes on to say that there are many ways that organizations can do this. What they all have in common, however, is a software solution that can bring together this kind of "omni channel" approach. It allows customers to transition seamlessly between physical and digital stores and lets these platforms work together for the purpose of improving sales instead of fighting each other.
With the right inventory and credit card payment software, any organization will be able to embrace the latest retail technology.