5 Urgent Challenges for Retail and How HiStone Revolutionizes the Market
In the years to come, the retail industry will witness strong progress thanks to digital transformation and the switch to a cash-lite society. According to Statista, the global retail market reached $27.34 trillion in 2021 while physical retail store sales are 72.64% of total volumes. And while the entire industry largely undergoes the essential growth, offline retailers in the meantime face a bunch of up-to-date challenges. The importance of keeping up with the time has already reached its peak.
Today, eCommerce is increasing its market share step-by-step. Although the tech-driven segment is far from snapping at brick-and-mortar stores’ heels, traditional retailers might put their business at risk unless they go digital as well. What the offline retailers should do is to accept next-gen technology solutions while avoiding the issues elaborated below in this article.
Challenges Physical Retailers Have To Face
The world has changed, and even the most conservative people need to accept this. We prefer to use late model smartphones, cars, and appliances. The same concerns retail stores. Consumers are interested in “last model sales points.” What are the core challenges for retailers?
1. The pandemic transformed customer demands
Unfortunately, the COVID-19 pandemic is something we had to get used to. The virus has somewhat changed our behavior models and demands. The retail market is among the brightest examples impacted by the pandemic. Customers prefer sales points where the anti-COVID rules are fulfilled the most.
2. Customers understand the value of time
This challenge is partially linked with the previous one. Up-to-date customers hate spending their time in queues. First and foremost, queues are associated with the pandemic as well. Hence, people understand that today’s life rhythms are especially rapid. Successful retail stores utilize technologies to minimize time required for one customer to purchase goods.
3. A drive towards technologies is a must
Innovations jump the world to the next level, and you need either to follow the trend or to let competitors capture your customers. Next-gen technologies make everything easier, more convenient, and quicker. The only way for brick-and-mortar sales points to compete with the e-commerce industry lies in the implementation of high-end technologies.
4. The highest staff efficiency is required
Many in-person retailers face enormous losses due to the inappropriate staff planning. On the one hand, you may hire thousands of beginner employees on minimum wage. Another way is to hire experienced specialists who are much more effective. Buy nice or buy twice – this idiom matches the retail market.
5. Design is the last but not the least
Don’t let your sales point look like the one came out of the Wild West. Today’s customers appreciate design and style, even in offline stores. This said, ensure your store corresponds to recent trends and attracts consumers.
SCO (Self-Checkouts) and POS (Points of Sale) Technologies to Remove Retail Challenges
Paving the same path is out of the question for offline retailers. Changes are urgent to keep their customers loyal and never let them dive into the e-commerce waters. Self-checkouts and POS systems are powerful arguments.
The key benefits of self-checkout systems are:
Lines are shorter. An SCO system minimizes time required to complete a purchase.
Self-checkouts cut down your expenses. One employee is enough for a set of SCO systems.
High-end systems are equipped with sanitizers and help customers keep social distance effectively.
Younger generations love self-checkouts more than cashiers.
This is why SCO systems are ready to reduce most of the challenges brick-and-mortar stores face. On the other hand, you cannot equip your sales point with self-checkouts only as people aged 35+ prefer cashiers, and an effective POS system is a must in this case.
Here are the top benefits of POS systems for an offline retail point (Note that we are talking about next-gen technologies that correspond with customers’ demands):
High-class Points of Sale simplify the purchase process for both employees and customers.
Next-gen systems minimize the number of errors and speed up the payment process.
Last model POS systems unlock access to advanced reports.
High-end Points of Sale improve a company’s image.
The technological progress aims to revolutionize the retail industry making all the operations and payments exceptionally convenient for both customers and employers. The combination of next-gen SCO and POS systems looks like the best solution for business owners. Meanwhile, the question arises — which systems to implement.
HiStone SCO and POS Systems to Give Your Stores a Second Wind
HiStone is among the leading suppliers of self-checkouts and POS systems worldwide. The brand understands success as a synonym to the growth of your purchases. Our high-class solutions are ready to give your sales points a second wind, deterring the e-commerce pressure effectively.
The array of available POS systems makes it possible to find a model that meets your exact expectations. All-in-one, box, mobile, scale, and other systems equipped with multiple features and contemporary design. Solutions match both established brands and start-ups. HiStone products unlock brand new opportunities for sales points, cafes and restaurants, hotels, and other businesses related to customer payments.
HiStone makes it exceptionally easy to select a model that matches your business needs perfectly. All the solutions are multi-functional and equipped with ultra-efficient components. Furthermore, our products utilize displays with high brightness and natural colors to make POS and SCO systems more comfortable for eyes.
The brand never lets technological progress cease; this is why our flagship models impress business owners with ultimate characteristics that exceed average industry features.
Bottom Line: Get the Next-Gen Solutions to Give Your Business a Competitive Edge
The eCommerce industry threatens your business from the one side. Competitors are ready to take your customers from the other side. What does it mean for a traditional retailer? It’s high time to change and accept new tech-driven game rules. HiStone is your option to claim the throne again.
Apply to our experienced specialists who are genuinely glad to help you. Just describe your business needs and challenges to find the best-matching option together. Opt only for what your retail business really needs. Drop us a line to get more information and choose the best matching POS/SCO systems for your sales point.