5 Signs Your Retail Business Is Stuck In The Past


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Worried that your retail company may be lagging behind? The retail industry is moving at a rapid rate with new technologies constantly coming in. Whilst some of these technologies are gimmicks, others are becoming more essential. Here are just five signs that your retail business may need updating and what you can do to bring it into the 21st Century.

You still don’t accept card

Fewer people nowadays are carrying around cash. In fact, card payments now make up the bulk of all transactions. If you’re still not accepting card, you could be losing out on customers (if anything card encourages people to spend more, rather than relying on the change in their wallet). Card payments are also quicker, plus they don’t have the drawbacks of cash such as the possibility of getting miscounted or lost. If you’re buying a card reader, you’re best opting contactless. You could even consider accepting mobile payment and credit card to expand your options.

You don’t use a digital POS system

If you’re still using an old-skool cash register, it could be time to speed things up with a new point of sale system. Modern POS systems make accounting easier by digitally storing information on every transaction, plus they’re easier and faster to use with customisable features. They also create a better impression on customers by giving your company a more modern look. Shop around for POS systems online and read reviews to find the best one for you.

You have no online presence

Every retail business can benefit from having an online presence. A website could help new customers to discover you and even be an extra outlet for selling products through. Social media meanwhile is useful for keeping people updated with company news such as events, whilst also promoting products and enticing new customers in. It’s also worth taking advantage of online reviews – many people use them to judge whether to use a company or not. Altogether, the internet is an essential marketing tool that could be helping you to get extra business. Social media pages are set up, plus you can build your own website for free. If you’re not digitally savvy, a digital marketing company can always set these platforms up for you.  

You’re not making use of business software for admin

Software can be used for all kinds of admin tasks such as accounting, stock management and employee management. In most cases, it can make your company more organised, whilst also making these admin tasks quicker. There are retail software packages out there that can do everything. Consider shopping around for these software packages and speed up your admin.

You don’t clock employees’ hours electronically

Keeping track of employees’ hours can be made easier using an electronic clock. Employees simply clock in at the end of their shift by entering a code or using their fingerprint and then clock out at the end of their shift by doing the same thing. This can help when calculating overtime, plus you can automatically link up these machines with payroll software to make paying customers easier.

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