1. Embrace the data – Quality Data Will Replace Big Data , Have your POS data start working to provide you with information on lagging lines and to start matching product to customers more effectively.
2. Embrace the tech – The discussion has been resolved; Consumers do prefer shopping via mobile in store and out of the store. The POS has extended to the customer phone, and it’s easy for SMB to respond.
3. Embrace your online presence – Digital shopping can be a destination, and with the dropping cost of ecommerce, online insight to product and inventory is a must have.
4. Embrace customer engagement – Reset your customer service culture, train associates to provide quality in-store engagement and use your customer preferences and inventory data to provide relevant engagement through social media.
5. Don’t fear the unknown – It’s about a seamless customer journey. In store experiences and loyalty will get more relevant, the brick and mortar experience will become the secret weapon against big online.
6. Don’t fear payment providers – Payment solutions are becoming more competitive and innovative, the entry barriers to provide multiple payment options are being lowered as consumers demand more options.
7. Embrace Retail as a Service – It’s more than just carrying inventory and selling the product – customers expect more and suppliers want to do more. Endless aisle, pop-up stores within stores and customer preference data will all lead to a more curated retail experience for the consumer.