Coresonant

Retail

OverView:

Key to the success of a Retail industry is enhanced customer experience by giving the freedom for them to chose and at the same time guiding and safeguarding the assets. Modern technology has meant that retailers can now improve the overall customer experience more than ever before.

Store and loyalty cards are one such use of technology as they not only reward shoppers with discounts and other benefits, but they also track spending habits and buying trends of their customers. This means they know who, what, when and how people are buying certain products and they can tailor their promotional campaigns, staffing and stock levels accordingly.

Forward thinking retailers are embracing new methods of technology to enhance their stores safety, security and communication. Not only technology allows members of staff to communicate over a wide area but it also helps improve health and safety tools, so that workers can report accidents, check stock levels and stay in touch across the entire site from the shop floor to the distribution area.

Changing Trend:

The growing technological awareness and adoption of emerging technologies by consumers has led to a complete change of a typical shopper behavior. From group-buying to flash sales, mobile commerce to social media, both retailers and consumers alike continue to adapt to the new ways of interactions with each other.

With Retail industry going global, customers now span across the globe and there's tremendous synergy between the stores, catalogs and websites. In this changing scenario any retailer's goal is to provide an outstanding, seamless multichannel experience wherever, whenever their customer wants to shop.

A few of the technological benefits:

Inventory Shrinkage (Shrink) Reduction

Track retail items between point of manufacture or purchase from supplier and point of sale
Real-time notification of security when items leave area without payment
Competitive advantage - saving money on theft allows offering products at lower prices

RFID Smart Labeling

Monitor unattended inventory
Automatic item identification on mixed pallets
Real time tracking and locating of tagged items on shelves
Shipping and Receiving applications

Shelf Stocking

Real-time notification of out-of -stock items - The information is immediately available on systems to check and inform the customers, reducing waiting time.
Improvement of product replenishment - products can be immediately re-stocked hence retaining the customer flow.
Retention of consumers who may turn to competitors if inventory item is out-of-stock
Automated charting and tracking for improved product forecasting

Check-out Process

Reduce time spent in line
Reduce manual labor/time,cost of employees and easier training.
Streamline check-out process with ability to scan multiple items and pay for them all at once

Overhead Reduction

Track product shipping and receiving from point-to-point automatically. This replaces manual tracking saving time and labor cost.
Know how many units of inventory are on-site via automated systems
Efficiency in error reduction reduces manual labor cost

Apart from these a significant improvement in managing inventory, pricing, production, human resources and financials.

Solutions:

Coresonant technology product profiles will help retailers evaluate the latest retail enterprise solutions and keep pace with fast-moving innovations and technological advances. Customer reviews and retail technology comparisons will help identify the best and most cost-effective solutions for any retail operations.

Smart Card Based Loyalty Card
Biometrics
Asset Management
Merchandise Management
Ware House Management System
Store Management System
Inventory Tracking Solution
Personnel Tracking & Safety
CCTV and more

Retail

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