Multichannel on a budget

Retail has changed and there are new opportunities!

Because we started life as retailers, we get it. It’s tough out there, and not everyone has tens of thousands to spend on technology. But that doesn’t mean you can’t compete and win! We have many ways including the Connect User Group to help with strategies for multichannel on a budget. With Intelligent Retail®, you’re not on your own!

Multichannel retailing on a budget

When your shop is buzzing with customers, there can be no feeling like it, quite thrilling. Although in the quiet times it can be disheartening when you consider those expensive resources not being used; rent, staff and stock. However, retail has changed and there are new opportunities.

With shoppers spending 15% of their budgets via the internet, a market forecast to grow, smart retailers are realising that focusing all their resources on one selling channel, i.e. the high street, is not efficient. Instead they sell across multiple channels. So when the shop is quiet, the focus shifts to selling online.

A single store retailer in Wrexham did just this. They now sell in their shop, online and eBay. The result in the first year was 110% growth. They were not computer experts, but in the quiet times staff were encouraged to give it a go and before long were in the swing of things.

Sell more online

Here are some suggestions for multichannel retailing on a budget.

Advertise on AdWords

Google will hold your hand for free with a friendly adviser. Type “Adwords Jumpstart” into Google and sign up.

eBay

Get your staff involved with our simple channel centre and move old stock on eBay with just a few clicks!

Email marketing

A superb way of increasing business. They are simple to produce and cost just a couple of cents per email.

Find a niche

Explore new markets and find new customers online. With Connect, you can easily update and manage your online sales channels with just a few clicks!

Retail has changed

Retail has changed and there are new opportunities for shop owners outside of the shop doors. However, if you are thinking of branching out to new sales channels there is a word of caution. Managing your stock across different sales channels can quickly get out of hand unless it’s been thought through. Having different systems for shop and web will mean adding all products twice. Also there is stock availability to consider, when an item sells out of the shop do you want to be manually updating the website to say ‘Out of stock’?

EPoS systems are now being superseded by multichannel stock control systems which link the shop and website together. They provide a professional and sustainable way of running a modern multichannel business. Because technology is now cheaper than ever, a good multichannel retail system (such as Connect) is affordable for your business!

This is an article written by David Mackley, MD at Intelligent Retail® for ‘Retail Management’ supplement by Detail Extra Media.

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