Retail technology has come a long way in the past 30 years. What began as a means to simplify the repetitive, but vitally important tasks of recording sales, inventory and ordering, has evolved to include various aspects of marketing. More than ever, businesses need to integrate the technology of data collection and marketing to thrive.
Look at how much better weather forecasts have gotten. It used to be a surprise when a hurricane hit. If people knew a storm was coming, they didn’t know the severity of it. Now, not only do we know a hurricane is coming, but you can order a truckload of supplies and have them in stock before it hits. This information is powerful and retailers are using it to get that extra horsepower.
Our customers are fortunate because they’re selling necessities. When something is broken and you need a tube of glue to fix it, the quickest solution is your local hardware store. When you’re sick and you need a prescription, you’re going to go to a pharmacy. Why not capitalize on that foot traffic and get customers to buy a few other items while they’re in your store? Integrating marketing with your data collection helps you do this.
The data collected through sales records, rewards programs and inventory control helps you make additional sales through marketing and enhancing the in-store experience for customers. Every one of the digital lists you create is data. Learning from it and using it to drive sales is a powerful and important marketing tool.
Paladin is passionate about small business retail and we see nothing but a bright future for the industry. Our software and technology allows you to automate your sales records and inventory control. You can use that data, and the free time that automation creates, to go out and do what makes you more money, and that’s rubbing shoulders with customers, marketing, and growing your business.