Improving retail - Security Tags

Five ways to empower your retail staff

Kyle Hall — Thu, 25 Mar 2021 22:39:28 +0000

Just as the landscape of retail has shifted in a post-COVID world, so has the role of retail sales associate.

In an era where every face-to-face interaction matters more than before, the sales associate is now at the center of the customer experience, and their skills are often the difference between a sale and a lost opportunity.

So how can you empower your retail sales associates to meet that customer experience in a new era of expectation?

The value of the sales associate

In the push to go digital, it’s easy to assume the role of sales associate ranks less highly than in years gone by.

That couldn’t be further from the truth according to statistics that indicate a well-trained, well-informed sales associate is central to the real-world retail experience.

As a snapshot of just how important they are, a survey by Mindtree found:

Shoppers who interact with a sales associate are 43 per cent more likely to purchase a product.

Customers note their transactions have 81 per cent more value, compared to those who don’t interact with an associate.

In addition, customers who have enjoyed positive interaction with a sales associate are 12 per cent more likely to revisit the store.

Meanwhile, 91 per cent of sales associates strongly agree that positive interactions with shoppers result in higher conversions, yet 94 per cent feel this requires more advanced technology tools and training that they currently don’t have access to.

So how can the retail sector better empower their frontline staff?

Training and support

Good customer service comes down to good support and comprehensive training behind the scenes, with statistics consistently acknowledging the fact the customer experience starts with that of the employee.

In fact:

71 per cent of executives note employee engagement is critical to their company’s success.

Companies with high employee engagement are 21 per cent more profitable.

69 per cent of employees say they’d work harder if they were better appreciated

That means staff should be empowered with support, career opportunities and training, allowing them to invest in the ethos of the retail brand.

And this training doesn’t have to take a traditional form. For example, Walmart recently rolled out 17,000 virtual reality headsets to its 5000 stores.

As Forbes explains: ”The goal is to offer employees the same caliber of training its managers get at the Walmart Academy facilities”.

Meanwhile, supporting the foundations of good training is a whole host of tools that can empower the employee in their day-to-day role.

mPOS

Mobile Point of Sale has transformed the role of the sales associate, allowing them to take the register to the customer while empowering that staff member with information.

Not only can the sales associate conduct a transaction anywhere on the floor of the store, but they can also access vital data such as stock levels, complimentary products, and customer loyalty on one compact, mobile, hand-held device.

Insight

It’s no secret analytics are now crucial to all retail operations, and these analytics allow sales associates to better understand and anticipate trends while offering a more informed customer experience.

Data and analytics in the hands of sales associates allow them insight into what items are trending in terms of sales, how busy a store is, what products are low on stock, and which stores might have inventory elsewhere.

Efficiency

With customers expecting more of stores than ever before, efficiency is becoming a key factor in the real-world retail process.

Tools that facilitate this efficiency, such as RFID inventory tracking, smart keys, and handheld devices, allow staff members to quickly serve the customer while alleviating the legwork of retail sales.

Security

While sales might be the focus, often store associates are tasked with additional roles above and beyond customer service. This includes keeping a watchful eye on the floor for shoplifting and identifying suspicious or threatening behavior.

Tools such as electronic article surveillance including security tags and labels protect a store at a product-based level, allowing staff to go about their job but be alerted should a retail theft be taking place.

For more insight into the new trends in retail, see here. Or head directly to our security tags or security labels pages to view our range of EAS products.

The post Five ways to empower your retail staff first appeared on Security Tags.

How electronic article surveillance improves the customer experience

Kyle Hall — Thu, 26 Sep 2019 04:31:17 +0000

When most retailers consider adopting or upgrading electronic article surveillance (EAS), the catalyst is loss prevention. Quite simply, the security tags, labels and antenna utilised in EAS protect individual products against theft.

But in protecting a store against loss, EAS also helps improve the customer experience in a host of ways. Here’s an insight into how that works.

The true cost of retail loss

It’s common knowledge retail loss costs the industry billions. In the US that estimated figure currently sits at $50.6 billion or 1.38 per cent of sales revenue, according to the latest National Retail Security Survey.

But what’s often less understood and harder to measure are the hidden costs of retail theft. Shoplifting can cost a retailer in terms of staff time, out of stock events, brand reputation, customer safety, and store appeal.

All these factors affect the quality of the customer experience that retailers are working so hard to deliver in an age of competition both in the real world and online.

To break it down, here’s are five ways EAS can improve the customer experience…

Product cost

Shoplifting is often mistakenly considered a victimless crime. Of course, that’s far from the truth. When retailers incur major losses due to theft, that loss has to be countered elsewhere in the provision of goods.

Most often, that loss is at least partially covered in the mark-up of products, meaning ultimately the customer pays a little more per item to outweigh the cost of theft. Back in 2010, it was estimated that shoplifting cost each US shopper $423 per year. Almost 10 years later that price is likely to be significantly higher.

It stands to reason then that security measures like EAS help keep the costs of those products down due to reducing product theft by up to 80 per cent.

Customer service

When your staff are busy protecting a store against loss and keeping a watchful eye out for shoplifters, they are being taken from the key role that offers real-world retail a distinct advantage over online stores – face-to-face customer service.

EAS allows store associates to continue catering to the customer without the distraction of remaining hyper-vigilant against shoplifting. While staff engage with the consumer, they can rest assured the EAS system will be monitoring items and alerting them to potential thefts.

Out of stocks

One major area where shoplifting affects most stores is in out-of-stock events. The retailer simply isn’t aware an item isn’t available until a customer cannot find it.

Searching for an item that has been stolen but is still recorded in the store inventory as being in stock wastes both the time and effort of the customer and that of the retailer.

Importantly, it affects the customer’s perception of their experience with a brand, and is one of the key reasons they may choose not to return to that outlet in the future.

Store appeal

A store that is streamlined, well-protected and welcoming is simply more appealing to consumers. As EAS offers a discrete yet highly effective product-based security measure, it contributes to this appeal.

Security tags are compact, highly effective and can be applied in a uniform fashion so they are inobtrusive and do not interfere with the customer’s experience of a product.

Meanwhile for high-volume, low value goods, labels offer security that can be easily incorporated into the packaging of a product and are then quickly deactivated at the point of sale.

Brand reputation

If a store is frequently targeted by shoplifters, the brand image is soon also affected. The outlet becomes known as a place that may pose safety issues for the customer, or where there are likely to be problems finding products.

In this case, EAS is just one of a number of measures a retailer can employ to improve their security. Best of all, it’s subtle, proven and protects items individually in a way few other loss prevention strategies can.

You can learn more about upgrading your security tags and labels to prevent shoplifting here.

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Eight areas to improve the retail bottom line

Kyle Hall — Wed, 14 Aug 2019 00:40:21 +0000

US retailers could potentially improve their bottom line by up to $1.2 trillion by eliminating negative retail experiences, and through offering further positive ones.

These are the findings of a recent report commissioned by global payments provider Adyen, which notes negative experiences like out of stock events and long lines cost the industry $887 billion, while offering customers exactly what they want could add a further $296 billion to the coffers.

Here’s an insight into the negative experiences costing retailers billions…

Eight areas for improvement

Whether it’s queues that take too long, items that aren’t in stock or the inability to offer the right payment option, small but negative experiences soon add up in the customer experience, costing retailers loyalty and revenue.

And in an age where the next purchase is just a Google search away, reducing friction in the customer journey is considered a key to success.

In their report for Adyen, 451 Research interviewed 1506 consumers aged 18 and above across North America in addition to 451 retailers.

Here’s where they found retailers could improve their offering…

Out of stocks – $172 billion lost

In the six months prior, the report notes nine out of 10 North American shoppers chose to leave a store without making a purchase because an item was out of stock, resulting in a $172 billion loss to US retailers annually.

Long lines in-store – $134 billion lost

In an age of instant gratification, lengthy queues have serious implications for retail. The report found 6 in 10 customers abandoned a purchase and left the store as a result of long lines.

What’s more, of those who left, only 40 per cent resolved to still purchase from the same retailer afterwards.

Friction at online checkout – $124 billion lost

Online shopping should be simple, and the checkout is key to offering a frictionless experience. 451 Research found seven in 10 consumers abandoned their shopping cart due to problems at the online checkout.

Overly complex payment forms were the prime source of customer discontent.

Lack of preferred payment options online – $99 billion lost

With more and more payment options available, consumers are seeking choice when it comes to how they pay online.

Forty per cent of shoppers reported they had abandoned at least one online purchase due to the unavailability of their preferred payment method.

Lack of contextual commerce experience – $98 billion lost

With social media showcasing all the latest trends, consumers are looking for simple ways to get their hands on the products they see, and if they can’t buy now or locate the product easily, they’re walking away from the search.

451 Research says: “…49 per cent of surveyed shoppers reported having encountered an advertised product or service (such as on social media) that they were interested in, but then not made the purchase because too many steps were required to find the product/service.”

Lack of cross-channel buying options – $96 billion lost

Whether it’s buy online and pick up in-store, or home delivery, customers seek convenience and different ways to attain their products through cross-channel buying.

The research indicated 40 per cent of consumers abandoned a shopping experience due to lack of cross-channel buying.

Lack of preferred payment options in-store – $87 billion lost

Consumers expect to pay for items with the method that suits them, whether that’s cash, credit card, or contactless.

“In the past six months, nearly two in five (37 per cent) North American shoppers have been unable to use their preferred payment method with a retailer in-store, prompting them to abandon their purchase entirely, resulting in $87bn in abandoned sales on an annual basis,” the report claims.

False positives – $76 billion lost

Fraud might be increasing issue for many retailers, but the impacts of overzealous fraud prevention can also be detrimental to the retail bottom line.

Over a third (34 per cent) of consumers abandoned a purchase because their credit or debit card was falsely declined due to suspicion of fraud during a legitimate transaction.

More opportunity available

In addition to identifying eight areas where sales are being directly lost, 451 Research found three areas which were under-optimized, totaling $296 billion in untapped potential.

These included:

Cross channel buying (worth $111 billion), where research indicates shoppers will buy more or purchase something they hadn’t intended to if a retailer offers additional ways for the product to reach them, like “click and collect” or next day delivery.

Cross selling (worth $66 billion) – where the retailer suggests accompanying products for a purchase

Personalized offers (worth $118 billion)

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