Retail jargon buster – part 1

Retail Jargon Buster

Do you know your show-rooming from your drop-shipping or your m-commerce from your social selling?

In the ever-changing world of retail technology, keeping up to date with the jargon in today’s retail sector can be quite a challenge. New retail terms pop up all the time, so to help you keep pace with the changing technology and the terminology, we’ve compiled a list of just some of the latest retail terms.

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Farm Shop Scenario

As one of the country’s leading suppliers of retail and hospitality solutions, RMS have been providing the best EPoS systems and specialist software to our diverse range of clients for many years.

And with OpSuite EPoS we are proud to offer the premier retail management solution in the marketplace. It is a firm favourite with omni channel retailers because of the competitive advantage that it brings. This fully integrated system seamlessly controls products, pricing, orders, reservations, customer records, suppliers, shops and eCommerce stores.

We thought it would be a good idea to illustrate the many benefits of OpSuite by looking at a relevant industry scenario to show you just what it can do in a normal working day.

‘Company Farm Shop’ does not actually exist but this type of operation and its complex daily requirements certainly do!

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How to be a savvy bricks and mortar retailer

How to be a savvy bricks and mortar retailer

Despite the convenience of online shopping, recent research shows that three quarters of people still prefer to shop in store. But bricks and mortar retailers must be savvy with omnichannel technology to survive in the digital age, we have 12 customer retention tactics to show you how it’s done.

Although the rapid growth of e-commerce has significantly reduced footfall to the high street, recent research from ONS showed that three-quarters of customers still prefer to make a purchase in a store. With 82% of these saying this is because they prefer to receive the product as soon as they’ve purchased it and because they value the input of staff, particularly when it comes to making major purchases. As well as this, 90% of UK shoppers stated they’ll always research a product online before going into a store to purchase it.

Retailers which embrace technology to track their customers across the whole customer experience, have a strong strategy in place for building customer loyalty, meaning satisfied customers, glowing word-of-mouth referrals and open doors for years to come. But with increased competition vying for each and every shopper’s attention, it is also vital that you implement customer retention tactics to ensure that you do more than simply sell stock.

Here are 12 customer retention tactics that will lead to increased sales and long-term success:

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It’s out with Microsoft Dynamics RMS and in with the new!

Twenty years is an absolute lifetime in terms of today’s modern technology and in this article we look at the ‘end of life’ for this highly successful point of sale software. But as the clock ticks away, retailers must move to a new solution before the July 2021 deadline.

As long ago as 2015, Microsoft announced that their retail point of sale solution, or Microsoft Dynamics Retail Management System to give it its correct title, would be retiring in 2016. However, whilst the product was then no longer available to new customers, support continues for existing customers until July 2021.

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Channel your energy

Do you know the difference between multi-channel and omni-channel retail?

Omni-channel retail delivers a seamless experience for the customer. This means that every way that a customer interacts with a company; whether that’s online, in-store, using a mobile app, via email and more besides, their user experience is fully connected.

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7 benefits of a customer loyalty program

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The average UK consumer is a member of 14.3 loyalty programs: should your retail or hospitality business be one of them? 

While there are costs to designing and implementing a customer loyalty program for your business research shows that acquiring new customers costs 5 to 25 times more than retaining existing ones. Members of Amazon’s Prime loyalty program spend an average of $1300 with Amazon per year compared to $700 for customers who are non-members.

Let’s look at the key benefits of running a loyalty program.

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Meet the manufacturer: Zebra Technologies

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At RMS, we believe in providing the best retail hardware for companies both big and small. Whether your business needs barcode scanners, label printers or ID card printers Zebra Technologies offer standout options that we are proud to provide.

Initially founded in 1969 as Data Specialities Incorporated (a manufacturer of high-speed electromechanical products) a change of focus towards labelling and ticketing occurred in 1982. The Zebra Technologies brand was born in 1986, and the company went on to be publicly traded in 1991. Strategic mergers and acquisitions, including the 2014 acquisition of the Motorola Solutions Enterprise Business, have been followed by a legacy of constant innovation – Zebra hold over 4,200 patents.

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