Retail and Restaurant Challenges and remedies!

Teky



1. Attracting customers

Bringing customers back to the store will be one of the biggest challenges for at least the next few months. There will be a change in consumer behavior and people might not want to step out of their houses and visit stores. One of the biggest strategies that offline retailers can adopt is to observe all safety measures and reassure their customers about the same. Apart from this, providing exciting EMI offers can help in winning back customers.

2. Retaining customers

Another challenge that will be a major concern for offline retailers will be retaining customers. A shift in consumer spending is already being witnessed and people are cutting down on leisure shopping. In such a situation, offering Loyalty solutions to customers can help retailers close sales faster and tide over these difficult times when they are aiming to bounce back from the disruption caused by the pandemic. This can be achieved by offering the convenience of making cashless payments using loyalty points at the point of sale.

3. Keeping up with changing customer expectations

With changes in customer behavior, it is important for retailers to deliver what their customers expect, and to understand the same, the former should have access to valuable data insights. This is where the use of Analytics comes into play. Using Analytics, retailers can understand what their customers want and keep up with their customers’ expectations accordingly.

4. Encouraging digital and contactless payments

Retailers must limit the use of cash and encourage digital and contactless payments. It is important for retailers to invest in technologies that can support them in the acceptance of digital payments. This allows retailers to give their customers the option of quick scan and pay using a static QR code.

5. Supply chain management

There will be great disruptions in the supply chain management and retailers will have to repurpose their strategy to meet the demands of customers. The inventory and logistics need to be planned in a streamlined manner until businesses return to normalcy. The integration of billing apps with the POS device is something that can be considered to achieve.

Now is the time for retailers to make the best use of technology and solutions to revive their businesses once the pandemic is over.




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