Do you need a retail growth boost during tough times?

Published: Tue, 08/20/19

 

Do you need a retail growth boost during tough times?

Retailers trade in a tough economic environment. Unemployment in SA has risen to an 11-year high, SA has had its worst quarterly contraction in a decade, and initial optimism around President Cyril Ramaphosa’s ability to reinvigorate the economy has faded.

The big challenge - how to improve revenue and profits, while cutting losses? 
 

Are you an impulse buy over the counter retailer?

Here are our top three tips to deliver an instance boost to your bottom-line

Put effort into upsell

Getting your sales associates passionate about increasing basket sizes of customers will have a direct impact on increasing total revenue. 

By gamifying the upsell sales process we have seen an 11% increase in total profit

Make sure you are open when you supposed to be
 

Getting your in-store operations consistent builds trust with your customers

We found by closely monitoring opening times, we could increase operating sales by 45 min a day. This increased time led to 7% increase in overall revenue

Be tight with stock and cash

Shrinkage and cash losses from the till is money out of your pocket. 

Where we were stringent on cash up and building machine learning into the process, we have seen cash losses reduce by 90%.
 

At Marc1 internet of things point of sale we are passionate about solving problems for retailers using digital tools

The above mentioned results have been realised at Pie City; the first trial implementation of the Marc1 platform. Due to the success of these results and transforming their ‘dumb’ point of sale into an advanced sales engine, Pie City has adopted this technology across all Pie City stores in South Africa and Botswana.
Marc1 | The Worlds First Internet of Things Point of Sale
 
 

But don't just believe us, test us!

All point of sale companies will tell you they are technology experts; we won’t tell you but prove it first-hand. Visit apply.marc.io and select which of the following retail innovations you would love to have, and we will build it and install it for a few selected retailers for free!!!

 

1.) Remotely monitor store opening and closing times using cameras and receiving mobile notifications

2.) Menu boards that can be updated in real-time across multiple stores

3.) Customer satisfaction survey with real-time feedback and reporting
Apply Now

Visit www.marc1.io or email us at info@marc1.io for more information on the future of point of sale