Recent figures on high street footfall around the UK show a rise of nearly 12% week-on week since the warm weather began, while out of town shopping centres saw between 2% and 9% increase, indicating the return to the high street is now in full swing. And, if you’re based in a tourist hot spot, it gets even better with a rise of between 24% and 38% in retail footfall in the last couple of weeks.Continue reading
As we begin a new decade, retailers simply cannot afford to stand still – to survive they must deliver the experience that customers demand if they are going to have a successful future.
It goes without saying that 2019 was not a good year for all high street retailers. While challenging retail conditions and high business rates have played their part, there is no denying that shopping habits have changed and many retailers have simply not kept up.
One of the biggest areas of change for retail has been the usage of bricks and mortar stores. In the past, most retail stores measured success through sales made from in-person transactions. As a result, price became the key driver for retailers to attract customers and this has led to a growth in big sale events such as Black Friday and Cyber Monday. However, while these events may have delivered some short-term gains, for many it also signalled the start of the race to the bottom. With some retailers focusing on offering products as cheaply as possible, the long-term health of many businesses was severely jeopardised. Research has also shown that sale events have even been seen to devalue products and brands in the minds of consumers, the knock-on effect of this is that consumers become less likely to shop during non-discounted periods.
To break this cycle, retailers need to look at how they can improve the customer experience. Indeed, research clearly shows that if retailers are to survive over the next 10 years then they will need to focus on customer experience. With customers shifting their shopping habits and buying more and more products online, retailers need to ensure their customer experience matches these habits.
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.Continue reading