In our previous blog post, we have discussed 3 key practices for retailers to effectively manage their inventory. Let's find out what the final 4 are.
Perhaps, nowadays, there is hardly anybody in Viet Nam who has not heard of The Gioi Di Dong Joint Stock Company (English name: Mobile World JSC). Earning its first amount of profit after only seven months of operation, The Gioi Di Dong has build a high-tech retail empire in this "S-shape" country.
The competition between retailers is getting harder and tighter since the appearance of online sellers. Therefore, brick and mortar stores need to find their own way to keep themselves being customer’s first choice. Some retailers are gaining success by creating their own unique identity, perfecting their customer service, and being selective with merchandise that attracts and nurtures a group of loyal customers.
Perhaps, nowadays, there is hardly anybody in Viet Nam who has not heard of The Gioi Di Dong Joint Stock Company (English name: Mobile World JSC). Founded on 3rd March 2004, applying the e-commerce model, MWG earned its first amount of profit after only seven months of operation.
Since 2003, the e-Commerce battlefield has been witnessing an expanding invasion of a complicated method of retailing – Omni-channel. During the shopping season in 2013, the traditional US retailers lost two-thirds of the foot traffic compared to only three years earlier. On the contrary, e-Commerce, with the help of Omni-channel, approached $300 billion in sales and became the trillion-dollar industry with double-digit annual growth.
We, as consumers, have always been seeking ways to maximise our shopping experience with maximum convenience, minimal effort, and maybe minimal interaction too (cough… self-checkout service).
Mobility technology has enabled brick-and-mortar retailers to process transactions from anywhere in the store for more than a decade, leading many to predict the death of traditional POS.
Starbucks, Amazon and Zara are undoubtedly global market leaders in the retail industry. Although their products differ from one another, the success they gained in 2015 teaches us some lessons. Knowing and understanding the factors behind these successes gives us the opportunity to learn and apply them, and maybe, someday it’s time for your business to shine.
Topics: POS Retail Software
Digital takes an important role today in every operation across industries; we can do almost everything using any digital devices. Emails, mobile apps, computers have made it easy for us to do almost everything we would like to.
Topics: Retail Management System