Your retail packaging might look great, but are you using the latest labeling technology for your merchandise? If you haven’t shifted over to using smart labels for your products on store shelves and that are being shipped, you’re missing out on the best technology available for simple and accurate product labeling.
Recent market reports show that smart labels is a growing market, with forecasts that revenue will increase from $4.6 billion to $22.7 billion by fourth quarter of 2026. Why are so many companies making the switch? Here’s what smart packaging does, and how it helps your company:
Big box, children’s clothing store Gymboree has transitioned to a flexible point of sales system (POS), which allows store staff to not only process secure payments from anywhere within the store but also allows access to inventory and order information. The company selected a mobile POS which allows for wireless retail transactions. This has, in effect, de-centralized the cashier, as credit card scanners are attached to tablet computers or smartphones.
If your business has not considered a flexible POS system, here are 10 retail and service industry specific advantages for considering a wireless POS system:
As e-commerce sweeps in, retailers resting on the physical storefront recognize that there are two important factors at play that must be addressed. As labor costs rise, they must work to keep costs down, and as consumer expectations change, they must evolve to suit them.
Robots address both of these issues. A report says that within the next five years robots will be responsible for 6% of jobs in the United States being eliminated. Many of the issues that retailers face on a consistent basis can be combated by robots. Peak hours that are undermanned, high employee tuner-over rates, theft, messy stores, etc., can all be dealt with by robots.
You may think that your small retailer has little in common with the Golden State Warriors. But let’s look closer at the lessons that can be gleaned from their corporate culture and their commitment to stay connected to fans via technology.
Recently the Golden State Warriors were in the news due to a merchant panel hosted by American Express, where small business owners and entrepreneurs spent time learning about how the team has successfully connected to its fans via technology. Forbes describes some of the practical take-aways from the event:
Your small business is probably based on a lot of up-front decision making as to which service or product niche to offer. The amount of time, energy and money you put in has paid off, but just how to grow your business to the next level seems to be elusive. According to Forbes Magazine:
- Small & medium enterprises (SMEs) that adopt mobile technologies to connect with customers are growing two times faster and creating eight times the number of jobs than SMEs who do not adopt mobile technologies
- SMEs that lead their respective industries in mobile adoption are also seeing 50% of web searches for their business start on mobile devices
- Mobile content and apps generated $530B in global revenue in 2014
- The majority of consumers WORLDWIDE would be willing to give up luxuries for a year in order to keep their mobile phones
Do you need more convincing? Are you ready to “up your game” in mobile technology? Below are some great applications and technologies that SMEs should consider for 2016: