Technology

Do you know what technology you need in your store and understand the various options available to you?

Integrating your technology is another vital part of inside-out marketing. Your retail identity must be reflected in every contact people have with your store.

Are you intimidated by technology, and if so, do you have someone who can help you with it?

Technology can be intimidating, so it helps to work with someone who's worked with a variety of retail solutions. Because Retail Concepts looks at the whole retail identity, we can help you find technology products and vendors that best suit your business.

Does your store concept and personality require you use certain types of technology?

Remember, technology is a big piece of your overall retail identity. If you are trying to convey to your customers that you are cutting edge and current, but you have systems from the dark ages, or are still writing customer purchase tickets, you are sending VERY mixed messages to your customers. In the same way, the Web site a retailer chooses to display needs to be consistent with the physical store's image and personality.

Do you understand POS, OTB, and RFID? (if not, see below!)

• Point-of-sale systems (POS)

Systems that capture data at the time and place of sales by using personal computers or specialized terminals that are combined with cash registers, bar code readers, optical scanners or magnetic stripe readers.

We encourage you to explore J.D. Associates if you are in need of a POS or inventory control system.

• Open-to-Buy (OTB)

  The difference between planned purchases and stock already ordered; the dollar amount of merchandise that a buyer can order for a particular period.

• Radio Frequency Identification (RFID)

  A similar technology to UPC codes, one of the major differences is the ability to scan at greater distances than bar codes. Additionally, the technology offers the ability to hold individual information and therefore track unique items from production all the way through until it reaches the customer. Benefits are expected in tracking products and lessening shrinkage, stock-outs, and receiving better customer data.

There are many other new and exciting applications of these types of technologies out there that may be worth exploring for your business. These include contactless payment systems like Mobile Speed Pass or cell phone payment systems. Companies such as Mint and MobileLime are testing such systems currently.

While we outsource the more intense technical components to reputable firms, Retail Concepts can act as a liaison to ensure the correct products are obtained, installed properly and that employees receive proper training. Let us help you.