78 search results for “tech”

Alternative Checkout Methods: How Stores are Experimenting With High-Tech Tills

Alternative Checkout Methods: How Stores are Experimenting With High-Tech Tills

Alternative checkout methods | Shopify Retail blogFrom the days of checks and cash, payment methods have evolved along with technology. Currently payment cards dominate the transaction industry. According to The Statistics Portal, 34.7% of card holders use debit or credit cards for most of their purchases.

The same is true for the checkout experience. Customers no longer need to contend with old-fashioned registers and tills — technology is helping to eliminate long lineups and streamline transactions in the process.

So, what does the future of retail transactions look like for your business? What types of payments should your business accept going forward? And how should your checkout experience look for shoppers?

Tulip Retail states: “With a smartphone in every pocket and the expansion of advanced barcodes and imaging technologies for scanning products, faster alternative checkout methods will continue to grow across the retail sector,” says Tony Rodriguez, CTO of digital identification solutions provider Digimarc.

Here’s what you need to know about alternative checkout methods for your retail business, for now and in the future.

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Personalize the Retail Shopping Experience With These 4 High-Tech Tools

Personalize the Retail Shopping Experience With These 4 High-Tech Tools

High-tech shopping personalization | Shopify Retail blogWhen most people think of a high-tech shopping experience, online shopping comes to mind. For years, the ecommerce shopping experience has evolved to include personalized recommendations based on purchase history, up-to-the-minute inventory trackers, and more advancements that feel like we’re living in the future.

Many in the industry see personalization as a key method to earn the attention of current and potential customers — and to earn consistent sales in the process. Tailoring your offerings and communications enhances the customer experience and demonstrates that you’re in touch with their needs. According to one study, 48% of U.S. marketers reported that personalization on their websites or apps lifted revenues in excess of 10%.

In contrast, much of the brick-and-mortar shopping landscape seems to have stayed pretty much the same. But if you look closely at a few stand-out retailers, in fact, high-tech shopping is driving customers back into stores for personalized shopping trips. Here, we’ll examine some tactics in-person sellers use to execute on a high-quality personalization strategy, and how evolving tech is helping retailers implement more tailored experiences.

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5 Quick and Low-Tech Tips To Prevent Shoplifting in Your Retail Store

5 Quick and Low-Tech Tips To Prevent Shoplifting in Your Retail Store

Loss prevention in retail | Shopify Retail blogAs a retailer, it's not always easy to just throw money at problems like shoplifting or loss prevention. With a finite budget, many smaller retailers can't take advantage of all the technology that big-box stores may have at their fingertips. Whether it's high-tech security camera systems, door scanners, or facial-recognition software, sometimes their big-ticket costs just don't fit with your small business security budget.

But shoplifting can have a crippling effect on retailers — after all, inventory shrinkage costs the U.S. retail industry over $45 billion each year. So, while you may have a limited budget, it's important to identify shoplifting as a problem and have a loss prevention plan in place.

So, what's a retailer to do? Here, we'll take a look at cost-effective and low-tech tactics that you can start implementing right away.

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High-Tech Helpers: How Retailers Are Using AR to Enhance the In-Store Experience

High-Tech Helpers: How Retailers Are Using AR to Enhance the In-Store Experience

Augmented reality in retail | Shopify Retail blogAugmented reality (AR) is changing the retail game. Retailers across the board are using AR to drive sales and improve the customer experience.

One way brands are improving conversions, in particular, is by bringing AR technology into stores. It’s a strategic move: 61% of consumers prefer stores that offer AR experiences, 40% will pay more for your product if they can experience it through AR, and 69% expect retailers to launch AR apps within the next six months.

But how can retailers with little experience in this high-tech tool best use AR to boost conversions? While there are multiple tactics, one of the methods more retailers are using is to create a more immersive shopping experience for customers. 

And to give you some ideas of how retailers can do this successfully, we got a little help from an expert. Below, find out what we learned when we chatted with Nathan Pettyjohn, CEO of AR platform Aisle411 and president of the VR/AR Association about how brands are enhancing the in-store experience through AR.

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How To Empower Retail Employees With Technology

How To Empower Retail Employees With Technology

Retail technology for employees | Shopify Retail blogNo one is closer to a retailer’s customers than its frontline employees, and yet, retail has one of the highest turnover rates in any industry.

According to a Hay Group report, the turnover rate for hourly store employees is the highest it has been since the Great Recession at an astounding 65%. Some of that’s due to scheduling, low pay, and bad supervisors, but career advancement and training also contribute to this abnormally high turnover rate.

What if retailers could curb employee turnover by empowering them with technology? Helping employees keep up with tech-savvy customers could be the key to keeping staff members content while making your business run more efficiently.

Here, we’ll explore the benefits to offering employees tech devices, look at a few examples, and offer you some next steps in assessing whether this is a strategy you should explore for your business.

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Selling On the Go: The Must-Have Equipment for Markets, Fairs, and Festivals

Selling On the Go: The Must-Have Equipment for Markets, Fairs, and Festivals

Selling on the go | Shopify Retail blogSelling your products at markets, fairs, and festivals is a great way to get your online business into the offline world.

Once you’ve chosen the perfect sales event, and got your market booth game on lock, you’re ready for IRL retail sales, right? Wrong. To make your (and your customers’) offline sales experience run as smoothly as possible, it’s important to remember all of the odds and ends you’ll need to actually track your sales. How will your customer pay in real life? Will you accept credit and debit cards? Are your products barcoded and do you have your SKUs straight?

Depending on what payment methods you’re accepting, and how you track your inventory, you may have different hardware needs for selling your products. So, before getting started selecting hardware for your booth or table, it’s important to figure out your needs.

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The Future of Checkout: How Retailers are Innovating the Payment Experience

The Future of Checkout: How Retailers are Innovating the Payment Experience

Checkout lines | Shopify Retail blogChances are that you’ve gone through a self-checkout line in a store at some point. You scan each of your items, bag them, and pay without the assistance of a cashier. A pretty straightforward concept, right?

As it turns out, self-checkout lines were just the first step in what has become a major technology-based revolution in the way that shoppers pay in brick-and-mortar retail environments. But self-checkout is just one evolution in the payment process. There’s no shortage of new tech solutions working to make the retail experience as painless as possible.

It’s no wonder retailers are attempting to innovate the checkout process — customers consistently report that making a purchase is the most painful part of the shopping experience. Although more than two-thirds of people still prefer to shop in-store, more than 70% of surveyed consumers said the checkout experience is their biggest pain point. Long lines and lengthy wait times at checkout are major reasons that some customers have turned to online shopping.

But some brands are taking a crack at making the checkout process less painful. From self-checkout kiosks to mobile point-of-sale systems to getting rid of checkout altogether, these retailers are hustling to keep customers happy and encourage more sales in-store.

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The 8 Best Podcasts for On-the-Go Retail Entrepreneurs

The 8 Best Podcasts for On-the-Go Retail Entrepreneurs

Best retail podcasts | Shopify Retail blog

It’s tough to scroll through dozens of blogs or read an ever-increasing collection of newly published books on industry best practices. But there’s a growing medium that allows stretched-thin retailers and entrepreneurs catch up on industry news and gossip while on the go: podcasts.

Podcasts, or digital broadcasts split into episodes, are quickly gaining traction with listeners hungry for info and entertainment across the globe. According to a recent study from Edison Research, the average population aged 12 and up listening to podcasts grew 23% between 2015 and 2016. Just how many folks are tuning in? The same research estimates that 21% of the American population — that’s 57 million, give or take — listens to podcasts. That’s a sizeable audience, and it’s only growing.

Much of the appeal of podcasts is the ability to catch the latest episode when running errands, or while performing tedious work tasks (like monthly inventory or accounting). Essentially, podcasts are highly mobile, with 64% being listened to on tablets or smartphones.

So, if you’re ready to tune into some of the most helpful and highest-rated podcasts on issues affecting retail, read on.

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5 Strategies to Future Proof Your Brick-and-Mortar Store

5 Strategies to Future Proof Your Brick-and-Mortar Store

Future proof retail stores | Shopify Retail blogSeveral years ago, as ecommerce exploded and more retailers started selling online, it seemed as though the days of brick-and-mortar businesses were numbered. Major online retailers like Amazon were a viable threat to offline retailers, and many large, national chains including Macy’s and Walmart began closing physical store locations.

What seemed like an inevitable fate for brick-and-mortar businesses, however, hasn’t in fact been true. When it comes to the number of sales made overall, only a small percentage are completed online. According to the Harvard Business Review, sales made at brick-and-mortar stores accounted for 92.3% of retail sales in the first quarter of 2016. Even more telling, there was only a 0.8% shift from offline to online sales between 2015 and 2016.

So, despite all the doom and gloom around the industry, the stats actually point to a bright future for brick-and-mortar retailers — at least for those that are smart and adaptable. The truth is, while shoppers will continue to visit stores to make purchases for many years to come, what they expect from stores will be different. Not only will offline businesses be competing for attention against those that are online, but brick-and-mortar stores will need to offer more than just “stuff” in order to thrive.

Here, we’ll discuss what the future of brick-and-mortar stores will look like and how to adapt and make changes in order to keep your business growing.

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