Challenges in Retail Industry and How to Sort Them Out
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Are you a retail store owner looking for best and reliable solutions to fix the problems in store management? Are you worried about security issues in your retail store?

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Challenges in Retail Industry and How to Sort Them Out

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Challenges in retail industry and how to sort them out

Challenges in Retail Industry and How to Sort Them Out

Are you a retail store owner looking for best and reliable solutions to fix the

problems in store management?

Are you worried about security issues in your retail store?

Both owners and managers want to build profits and sales from their retail stores.

They continuously offer quality products at reasonable rates to the customers.

They always have to improve customer service. When customer service and sales

are the major tasks of all retailers, there are certain challenges in retail

management that can hinder the chance of growth and achieving such goals.

Managing a retail store is a huge responsibility. Retail store managers have to

ensure smooth running of the store and products should be priced reasonably to

satisfy the customer. It is important to have proper understanding of important

concepts to manage your grocery store to ensure success.

Challenges in Retail Management

Here, we will discuss some of the major problems every small and medium scale

retailer faces these days and solutions to fix them.

Connectivity

Connectivity is really a major challenge, especially in multi-store retail businesses.

Be it online or desktop based POS equipment, it is important to connect between

main server and store computers. This way, POS systems from Gemini Computers

can be helpful in this situation. All you need is a broadband or dialup connection.

Hence, each location can work independently even when connection is lost. Once

the connectivity is restored, data automatically gets synced with main server.

Security

In day-to-day retail operations, security is a major issue. Security of items in

inventory often gets compromised, either by staff or someone else. To avoid such


Challenges in retail industry and how to sort them out

mischief, it is important to secure your business under CCTV surveillance. You can

keep track on each and every store operation. You may choose IP based security

cameras that can send you live feed on your Smartphone. You may check what’s

happening in your store when you are away.

Synchronization

Data synchronization is another major challenge in retail operations. In case of

multi-store business, stores operate from various time zones and locations and

they have different working hours. So, it is important to sync your data on timely

basis to keep track on operation so you can take action rapidly. Now, the biggest

challenge is risk of data loss and time interval when data can be synced.

With real time data synchronization, the problem can be sorted out to a great

extent. It needs fixed IP and internet connectivity. Each store will sync its data

with head office and head office will connect to each store.

Inventory Management

A retail store owner has to keep track on inventory both inside and out. Along

with knowing the product, manager is also required to know how often the

product is shipped from the producer and how large the packages are and how

much and what to order. Hence, retail POS software is always in need to keep

track on your inventory in retail stores.

Training Cost

For any retail business, handling operational and training cost is one of the major

challenges. Usually, profit margins are already very low on small retail businesses.

So, it is very important to have efficient and lean operation. Labor costs are just

another burden for a retail owner. Store conditions and customer service may be

affected if labor cost is not managed well.

In order to avoid loss of sales and customers, Gemini Computers have retail

management software with user-friendly interface. They are so easy to operate

that even a beginner can easily use it with little bit of introduction. It ultimately


Challenges in retail industry and how to sort them out

reduces your training cost. These systems can easily automate the business

processes and simplify store operations.

Challenges in Operation Management

Retailers are always looking to improve value from payroll spending. There are

several challenges in operation management grocers may come across –

Payroll errors

Attendance and timer system need manual intervention and is time consuming

Punch errors which result in unnecessary overtime and regular costs

Legal compliance

Low optimized scheduling

Cost of under and over scheduling

This way, POS system offered Gemini Computers can automate payroll

management and staffing to give complete control to your managers.

Retail Store Solutions – In Brief

POS System– It records all the financial information and sales of the

organization and collects detailed product and customer data. There are some

self-service POS checkout systems to enable customers to place orders and

pay.

Time Management Systems – To monitor, plan and report working hours of

each employee.

Inventory Management – To optimize order entry and inventory management

in your organization. It keeps track on the order quantity of each product and

gives detailed analysis on the amount of products you have in stock for

customers.


Challenges in retail industry and how to sort them out

Price Auditing – There are certain handheld devices like barcode scanner

connected to the POS systems to record sale of products with one touch.

Security – You need some high-end CCTV cameras and dome cameras that can

keep track on each and every moment in your store.

Billing – Your store also needs thermal printers connected to the kiosks to

print bills for the customers.

Kiosks – These are interactive, freestanding terminals to display product

details on the screen to the customers.

Payment – Credit/Debit card scanner is also used in checkout process to

receive payments from the customers.

The Future of the Retail Business is here…

Both small and large retail stores have faced dark past and the future is not going

to be easier. But retail businesses can, at least, prepare for the challenges and

focus on giving the best shopping experience to the customers, in product

selections and with excellent services.

Warehouse management and Inventory management are the common

challenges. So, it’s the high time for retail store owners to automate their

business and think beyond their corporate boundaries. It is important for the

businesses to use technology actively to control operational costs, save time and

increase productivity and sales to excel in day to day retail operations in the near

future.


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