Originally published in: Forbes

by Sergey Kozhevnikov, VP of Product Development at Teamwork Commerce

Technology’s role within retail is only growing in importance. Today’s consumers expect speed, convenience and high-quality experiences. Manual in-store processes not only slow down operations, but labor-intensive tasks take in-store associates away from the shop floor, reducing the opportunity to deliver the seamless and enjoyable experiences that shoppers now demand.

Modern technology innovations have proven themselves to be the solution to these challenges. We are now at a point where any retailer that isn’t operating with an all-encompassing technology stack is at a disadvantage to its competitors.

From the supply chain to the store, innovative solutions are helping retailers improve processes across their business. Omnichannel fulfillment provides customers with purchasing options that suit their needs. Item-level RFID enables real-time visibility of stock to optimize inventory management and streamline supply chains. Technology is allowing in-store visitors to complete transactions on their own with self-checkout or from anywhere on the shop floor with mobile point-of-sale (POS) devices.

Everywhere retailers look, technology is available to help them become more efficient, drive return on investment (ROI) and, most importantly, improve the customer experience. However, technology deployment is not necessarily a straightforward practice, and there are several considerations to make before taking the plunge.

Find the issue.

When it comes to technology adoption, it is wise to begin at the end. Retailers should ask themselves what the ultimate goal is. In an ideal world, they would know where the issue lies: too much in-store sales drop-off as a result of long queue times, high volumes of stock going to waste or poor customer satisfaction levels. Often, this is not the case.

Retailers must analyze their operations closely. An internal audit might highlight hidden issues that have gone unnoticed and need addressing as a priority. Finding the challenges and prioritizing the need to fix them can provide a clear pathway to technology implementation.

Once any issues have been uncovered, retailers must consider what the ideal picture looks like. Are busy stores creating shop floor congestion? A good problem to have, but a problem nonetheless. Retailers might set the goal of reducing in-store congestion at peak times by 30%. Objective outlined, the question now lies in how technology can provide the solution.

Source the solution.

Once the objective is outlined, there could be hundreds of potential solutions available from a range of technology providers. The biggest mistake retailers can make at this point is to simply jump at the first technology laid out to them.

Returning to the in-store congestion challenge, there are several potential avenues to explore. Retailers could look to improve their alternative sales channels to encourage more online or omnichannel sales, reducing the need to spend time in-store. They might look for a checkout solution—whether self-checkout or mobile POS. Alternatively, congestion might be caused by customers waiting around for a depleted staffing team to assist them, and retailers could look to automate more back-of-store processes to free up the time of their associates.

There is rarely one simple answer to an issue. Retailers should take their time, test different technologies and analyze which deployment—or deployments—can deliver the best results. Retailers must also ensure they partner with IT vendors that have a demonstrated track record of delivering valuable solutions.

Consider the challenges.

Even after the desired technology has been implemented, the process of integration can present its own hurdles.

One of the most obvious hurdles falls on deciding how to integrate the technology itself. Typically, retailers will choose to run a pilot rollout with the solution contained in one location. Taking place over a set period, the pilot will allow retailers to discover any initial issues—whether challenges exist around deployment itself or tweaks that need to be made once the solution is operational. It also allows retailers to get a feel for the technology in a day-to-day environment and pre-adjust components for a more seamless implementation ahead of full-scale deployment.

A lack of buy-in from the wider brand can also create challenges for retailers, especially those who are expected to use the technology daily. At this point, the onus falls on decision-makers to prove the value proposition to the wider business—and stakeholders might need convincing in different ways.

A CFO’s view on a seemingly expensive solution will be completely different from that of an in-store associate, who is being instructed to learn and leverage a potentially complex device. Where the CFO might need to be convinced of the long-term ROI, the in-store associate will need to know that they will receive full training on the device and, importantly, that they will be shown how the solution will make their job easier, freeing up their time to complete other tasks.

Either way, both parties must buy into the technology’s use case equally. They must also understand that deployment likely is not a quick fix, and patience is needed with all integrations. Only when an entire organization has an aligned view of technology can its value truly be recognized.

Think long-term.

Technology adoption is not a swift process. To keep up with ever-changing consumer trends, retailers must consistently review their technology requirements and improve their offerings wherever possible. Slowly, retailers can reach a point where they are utilizing an all-encompassing technology stack that communicates seamlessly in real time. But this cannot happen overnight.

While ROI can be delivered quickly, a long-term approach to technology investment can serve retailers well, delivering sustainable business results as they keep ahead of competitors with their integrations.

Importantly, retailers need to find the right technology partner who will guide them through the entire technology adoption process and help evolve their offerings over time. This will ensure that any technology implemented will be as effective as possible, as quickly as possible, to deliver high-quality customer experiences, as well as efficient processes that maximize returns for retailers.

The retail industry has undergone significant changes and growth in recent years. Strategies like buy online, pick up in-store, the boom in e-commerce (both global and domestic), and the rise in multi-channel and marketplace selling have created new challenges for businesses. Alongside these changes, sales tax rates and rules are in constant flux, adding complexity to compliance efforts.

Staying on top of compliance for a retail business involves several steps, including determining nexus, registering where you sell, calculating taxes, preparing and filing returns, and managing compliance documents. These tasks become more complicated with multiple sales channels, such as marketplaces and global e-commerce.

Accommodating Growth

Global e-commerce is projected to surpass $7 trillion by 2025. Businesses that have adopted new sales channels or expanded their customer base may find it challenging to keep up with sales tax jurisdictions, regulations, and managing VAT. The retail industry doesn’t have just one busy time of year; as soon as one seasonal event ends, businesses are gearing up for the next one. This leaves little time for tax compliance tasks, such as tracking sales tax rates, adjusting for returns, and staying on top of sales tax holidays. Manual processes can result in lost time and resources.

Avalara AvaTax provides tax rates delivered at the time of sale, considering geolocation and product taxability. It addresses state sales tax holidays and helps businesses avoid the manual entry of new sales tax data for out-of-state customers or sales tax holidays. Automating tax compliance can save valuable time and resources.

Enhancing the Customer Experience

Customers expect a seamless checkout experience across all sales platforms. However, not all stores can calculate tax accurately in buy online, pick up in-store events, and not all sales channels or marketplaces can collect exemption certificates or calculate the correct taxes and duties. These failures can harm companies’ reputation with customers and expose them to costly fines for noncompliance.

Avalara Avatax and Teamwork Commerce Point of Sale Integration

The integration of Avalara AvaTax with Teamwork Commerce Point of Sale Solution enhances the seamless checkout experience by ensuring accurate tax calculations across all sales channels. Retailers can efficiently manage sales tax compliance within their POS software, eliminating the need for manual data entry and reducing the risk of errors.

The partnership between Teamwork Commerce and Avalara offers solutions to help businesses navigate the evolving retail tax landscape. Tax automation tools like Avalara AvaTax for Retail seamlessly integrate with Teamwork Commerce POS solution, providing businesses with the tools they need to stay compliant.

Explore Avalara options here or contact your Teamwork Commerce account executive for more information.

Originally published in: NewDigitalAge

by Amber Hovious, VP of Marketing & Partnerships at Teamwork Commerce

Artificial intelligence (AI) has taken the retail industry by storm, empowering retailers to enhance their operations and performance across several sections of their retail ecosystem, from warehouse to in-store. According to Statista, retailers using AI and machine learning (ML) performed better than their competitors between 2023 and 2024, with an average revenue growth of 8.1%, compared to only 5.1% for retailers who did not use AI or ML solutions.

While AI is proving to be a game-changer in a number of areas within retail, its impact on customer experience is one of the key drivers of its adoption in the industry. In addition to helping retailers create highly personalised experiences, AI also plays a critical role in predictive analytics. 

Predicting trends with AI

Consumer needs are ever-changing as technology develops, and retailers must adapt to stay ahead of the game. Amidst these evolving consumer demands, there are often common patterns that emerge, which can allow retailers to predict what trend will come next. The challenge for retailers lies in being able to spot these patterns. For example, analysing historical data helps retailers anticipate the demand for products at a specific time, enabling them to optimise their inventory levels. However, manual processes for analysis are time-consuming and do not guarantee accuracy. As a result, retailers fall at risk of missing sales opportunities. 

To address this challenge, retailers have started to lean on AI. As per Statista, 60% of professionals stated that the most popular reason for using AI is to improve customer experience and predict customer behaviour and needs. By integrating AI-powered tools with their customer relationship management (CRM) systems, retailers can quickly and more accurately analyse historical data – such as customers’ purchasing habits, buying frequency, and preferences. As a result, they can predict trends and demand more efficiently and effectively, ensuring they have the right products at the right time to cash in on maximum sales opportunities.

The role of AI in personalising customer interactions

It is nearly impossible to provide tailored customer experiences to thousands of customers without the right technology. AI not only makes it possible but also does so seamlessly. AI-powered virtual assistants and chatbots are transforming the quality of customer service by answering queries or solving problems swiftly, tailoring each interaction in real-time. While AI is a game-changer in online customer service, its impact on the in-store customer experience is significantly valuable too.

Using AI-powered solutions, store associates can personalise their interactions with customers. If a customer often purchases items of a specific colour, AI will identify this pattern quickly and notify store associates, enabling them to make informed and personalised suggestions. This also enhances cross-selling opportunities for retailers, giving them extra knowledge of what their customers prefer.  

AI-powered solutions can also alert associates about restocked items that were previously sought after by a customer, enabling them to deliver proactive assistance. This not only increases sales opportunities for retailers but also positively impacts the overall customer experience. Associates can create personalised interactions, making customers feel valued. 

AI: what’s next?

Whether virtual assistants capable of personalising recommendations or chatbots offering real-time customer support, AI-powered solutions have redefined how retailers engage with their customers across online and physical stores. Over the next few years, the technology will become an integral part of retail operations, with 91% of retail IT leaders prioritising AI as the top technology to implement by 2026. As a result, AI-powered solutions are likely to dominate several areas of retail. 

As AI becomes more sophisticated, its integration into retail operations will only deepen, facilitating seamless, efficient, and tailored shopping experiences for customers and empowering retailers to drive efficiency and accuracy alike. 

While AI’s integration in retail is critical, the role of human value in the customer experience cannot be overlooked. Retailers must ensure they do not eliminate the human aspect of their customer experience. Those who can strike the right balance between humans and machines will pave the way for long-term success.

While the recent launch of England’s European Championship 2024 kit has stirred up some debate among the general English public, it is expected to be a hit in terms of sales. From home shirts to away shirts, hats to scarves, and jackets, any international football tournament featuring the Three Lions presents a significant opportunity for retailers to boost merchandise sales.

Sporting the right look has always been a key mark of support for any sports team around the world, and international tournaments seem to be one of the few events nowadays that will unite the English population. The summer of 2018 proved just how impactful sports can be on retail when Marks & Spencer sold out their waistcoat stock during the Russia World Cup, simply so that fans could emulate Gareth Southgate, the England manager.

As anticipation builds ahead of Euro 2024, kicking off in Germany, in June, retailers should be cognizant of the opportunities that the upcoming tournament will present over the next few months. In our latest blog, we explore how retail brands can make the most of Euros hype…

Stocking the Right Merch in Retail

Merchandise plays an important role in the build-up to any international tournament, but this doesn’t necessarily mean retailers must stock official shirts. Similar to the genius of M&S’ waistcoat push, brands can leverage Euros interest by simply finding the right products that land with their customer base. The trick lies in being able to find that niche.

Outside context plays an important role. Bucket hats, as well as retro t-shirts and shorts pairings typically become highly popular – the heat of the summer clearly influences purchasing choices. Retailers must use this context to cater to their audiences.

By integrating an effective reporting and analytics solution, retailers can gain real-time visibility of their performance, helping them to make better decisions, faster. With historical tracking of a range of factors – such as previous sporting events or last year’s summer sales performance – retailers can analyse trends to understand the type of products that will sell quickly during the Euros period. From here, it is simply a case of stocking the merchandise that suits the retailer’s customer base in the right context and watching it fly off the shelves.

A Short Window of Opportunity

Once the product selection is finalized, retailers must also consider the timeline they are working towards. Now that the official kits – and additional accessories – have been released, the hype will gradually build right up until England’s first game, when they kick off against Serbia on June 16.

This offers retailers a 3-month period, similar to that of the festive shopping season, whereby Christmas shopping begins as early as October. It is during this period that retailers must maximize their sales efforts, slowly ramping up their sales efforts as the Euros draw closer. Once the tournament begins, timing becomes imperative because as soon as England is knocked out, any interest will disappear, and leftover stock will cost retailers in the form of reduced sale prices and storage.

The tournament timings fall as follows:

Inventory is everything in these small periods of opportunity. Being able to find the right balance between under and overstocking products to maximise sales is paramount to optimising performance ahead of the Euros. Again, reporting and analytics will help retailers to better assess their required stock levels during the tournament.

However, Teamwork Commerce’s RFID-Powered Stock Counter Application provides retailers with real-time visibility into inventory status, allowing brands to keep on top of their stock levels with complete accuracy. It empowers users to make informed decisions based on up-to-date stock information.

Don’t Forget the Experience 

While retailers scramble to make the most of the short-term gains available over the next few months, they must also consider the opportunity to turn any quick wins into long-term success.

Merchandise sales introduce the potential of new customers who might have never thought to shop with certain retail brands previously. These are the opportunities that retailers must grab with both hands.

By delivering a seamless, personable in-store experience, retailers can leave customers feeling highly valued and satisfied. Ultimately, this encourages them to return to the retailer for a replicated experience in the future. These experiences can be achieved through a range of tactics.

From a simple, yet effective, greeting as customers enter the store, to personalised interactions through Customer Relationship Management (CRM) technology that tracks data such as purchase history, size and colour preferences, or even the name of a customer’s dog. Small gestures can make a big difference, and personalisation goes a long way to helping store visitors feel appreciated. Combined with additional perks such as personalised discounts, retailers can quickly turn a quick sale into a retained customer.

There is Always an Opportunity

The Euros will bring excitement to the nation, and for retailers, it brings the potential for enhanced sales opportunities and customer growth. These small periods of national hype can appear at any moment. We see it every year with January sales and Black Friday, and international tournaments have a similar impact. The key for retailers is to be ready, prepare effectively, and execute with a long-term view in mind.

To find out more about how Teamwork Commerce can help your retail business ahead of the Euros, book a demo today.

The year 2023 brought its fair share of obstacles for retailers, mainly due to the cost of living crisis that had a ripple effect on global markets. This resulted in reduced consumer spending, increased inflation rates, and a challenging financial environment for the retail sector.

However, with Q1 2024 in the books, and a fresh start still firmly in the minds of UK’s retail brands, PwC’s Retail Outlook for 2024 gives reason to be cheerful as the industry looks to continue the fight against economic downturn. The report cites falling inflation, high employment and wage growth, improved spending intentions and National Insurance and other Budget giveaways as key indicators of upturned fortunes in 2024. And that is before referencing that the worst looks to be over with the cost of living crisis.

Thankfully, this year is expected to bring consumers back towards ‘normal’, with improved consumer confidence and a willingness to spend. This creates an opportunity for retailers not only to increase retail sales and acquire new customers, but also to retain them, promote loyalty, and build long-term relationships. At such a critical point in time, execution must be efficient and effective. And technology can play an important role in facilitating it.

Create Convenience

As spending habits begin to ramp up, retailers must ensure that they can make the purchase process as seamless for their customers as possible. This starts with providing options. Today’s customer wants to shop in their own way: whether online, in-store, or a mix of both. Retailers must cater towards these demands, creating an effective omnichannel operation that facilitates seamless fulfilment between sales channels.

Teamwork Commerce’s powerful Order Management System (OMS) provides retailers with a range of functionality that creates a seamless purchase workflow. Connecting directly to a brand’s eCommerce platform, the OMS provides an automated solution to generate shipments. Orders can be placed from multiple locations and fulfilled anywhere.

This allows customers to shop around their own requirements. Whether they have a quick five minutes to make an online purchase, prefer to browse in-store for the right outfit, or need to pick up a pre-ordered item on their way home from work. Flexibility creates convenience, and convenience drives enhanced customer satisfaction that leaves a lasting positive impression. 

Make it Personal

According to BCG, 72% of luxury consumers have personalisation at the top of their list of things they’d like to see when dealing with brands. Of those consumers, 39% say personalised treatment in-store is the most important aspect of shopping in person. Clearly a personal touch goes a long way in delivering high-quality customer experiences. Combining personalisation with convenient fulfilment options enables retailers to deliver highly bespoke, seamless transactions that make customers feel valued.

With a reliable and secure Customer Relationship Management (CRM) platform, such as Teamwork Commerce’s Secure CRM solution, retailers can tailor individual interactions for every visitor across all sales channels. Creating a holistic, real-time view of customer information – including purchase history, shopping preferences and sizing.

Armed with the right information, retailers can make tailored recommendations to customers, assisting them in their browsing and creating truly individual interactions.

Speed is Everything

Consumers expect to have their products promptly. In a world of streaming services, super-fast broadband and same day delivery, speed has become an important currency. Convenience and personalisation will make customers feel valued, but creating effortless, speedy transactions will take a retailer’s operations to another level.

Teamwork Commerce’s Mobile Point of Sale (POS) technology allows in-store associates to complete transactions from anywhere on the shop floor in seconds. Armed with a tablet that can also access a range of store information in real-time – from inventory levels to CRM information – associates can provide a fast, personalised service before completing quick transactions.

Not only does this benefit the customer – whose time in-store is minimised while they receive a top-quality service – but the retailer can also conduct more transactions and reduce in-store queueing.

The Time for Tech

2024 promises to offer improved opportunity for retailers compared to last year’s difficulties. As we hurtle towards the summer, retailers must look to leverage the latest technology available in order to capitalise on renewed customer appetite for spending. With the right service, supported by the right platform, retailers can create high-quality experiences that create customer loyalty and long-term business success.

Interested to see how your retail business can benefit from an all-encompassing retail technology solution? Get in touch today.