New Retail Trends : Cloud based POS system helps small and medium businesses operate more efficiently.

In recent years, we have often seen the topic of new retail. So what is new retail?

The new retail concept is a combination of online and offline and logistics, and has been constructed from a Multi-channel to an Omni-channel consumption scene to meet the diversified consumption experience of customers. Due to the Covid-19 pandemic that has ravaged the world in recent years, a new normal of online consumption has emerged. This has prompted traditional retail companies to catch up with the pace of digital transformation and develop online businesses to seize the opportunity of new retail.

Merchants want to keep up with the new retail wave and need to have Omni-channel and Online-Merge-Offline (OMO) seamless consumption models.

The performance and development of physical store retail and online sales under the epidemic has forced many retailers to rethink the business model of omni-channel retail and online-merge-offline integration to meet new retail opportunities.

From Muti-channel to Omni-channel Retail Business Model

Multi-channel Retailer

 

From the previous single channel to multi-channel retail to reach more customers, but the disadvantage is that the channels are not connected. From the perspective of customers, the shopping experience is fragmented. However, new retail advocates a data-driven retail form centered on consumer experience, so the multi-channel retail model is not sufficient.

Omni-channel Retailer

Nowadays, in addition to traditional physical stores, many retailers will also develop online stores and even sell on social media platforms. Omni-channel refers to the integration of all relevant retail channels and marketing tools, and the close connection of data between channels can provide customers with a seamless and smooth consumer experience, combined with online and offline new retail models.

Digital transformation strategy from O2O to OMO

O2O consumption patterns across online and offline

 

The popularity of the internet is the era when O2O is popular. O2O-Online to Offline finds consumers online, such as online advertising exposure and promotional activities to induce purchase behavior, and drive online consumers into offline physical stores to shop. Or after the consumer has experienced it in the physical store, he can send a discount QR code or link through his smartphone to drive him back to the online store to spend and form O2O-Offline to Online.

Mutual diversion through online and offline to create more customer flow, but the online and offline data is not integrated, will cause consumers to have a fragmented shopping experience.

OMO integrates a seamless consumption model of online and offline data

OMO means Online Merge Offline or Offline Merge Online. It can be said that it has evolved from the O2O online and offline demarcation model to the OMO integration of online and offline consumer data. The collected customer information is used for more accurate marketing, and customers can get an integrated and seamless shopping experience regardless of consumption in physical stores, online stores, or social media.

STOREBERRY Omni-channel Retail Platform : cloud based POS system integrates online and offline data

 

With the changes in the retail market and technological development, the POS system needs to evolve. It is the key to success that can integrate omni-channel online and offline data to meet the new retail consumption patterns of today’s customers. The cloud based POS system was also developed in the process of evolution. The actual data of the system is accessed in the cloud, so no matter where you are, you can use your computer, tablet, or smartphone to manage your business by opening a web browser, making the operation more flexible and efficient.

STOREBERRY’s cloud based POS system can systematize the operation process and reduce human errors, such as inventory control and checkout, etc., improve work efficiency which is better than traditional POS systems. On the other hand, even if you are at home at the moment, you can check the store operation status in the cloud based POS system in real time through the internet.

Automatically link sales records of various channels

The operation interface is simple and easy to use. Even if there are multiple different sales channels such as physical stores, online stores, and Facebook social media sales, you can instantly review the sales of each channel at the backend system, and make adjustments to the sales strategy at any time.

Integrated online and in-store inventory management

Managing a business is most worried about the loss or error of warehouse and sales data, so a comprehensive cloud POS and warehouse system can track the warehouse inventory of online and offline sales channels in real time, and issue replenishment in time is very important.

Customer data update synchronization automatically between online and physical store system

Whether your customers are shopping in a physical store or online, all customer information can be updated simultaneously, and you can view customer transactions and various interactions in different channels on a single platform. This allows you to set membership levels and discounts more accurately, such as creating electronic gift certificates to promote sales, or guiding customers to shop through different sales channels.