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How Retailers can Navigate a World of Instant Gratification

How Retailers can Navigate a World of Instant Gratification

By Sergey Kozhevnikov, VP of Product Development, Teamwork Commerce.

 

Today’s consumer craves instant gratification. With technology allowing consumers to pull their phones out, tap a few words into a search engine and gain access to information in seconds, expectations have changed over the past decade.

Whether posting selfies on Instagram or mindlessly scrolling through TikTok, people can get whatever information they want with little effort.

We want everything instantly, and anything that disrupts that immediacy feels like an inconvenience. We go to restaurants, scan a QR code at our table and complete orders in seconds. Everything is happening faster than ever, and it requires less effort than ever before—and consumers cannot get enough of it.

Retail is no exception to that craving. According to Statista, 41% of global shoppers now expect their online orders to be delivered within 24 hours. Only a few years ago, that demand would have felt wholly unrealistic. Today, it is an expectation.

As consumer habits morph and evolve alongside technological capability, the modern retailer must be able to deliver both speed and convenience across every touchpoint of the customer shopping journey.

 

Creating Convenience In Retail

Providing a range of purchasing options can help retailers create convenient experiences. The formula is simple—access to more options provides more opportunities for customers to shop in ways that suit them best. That could be online, in-store or through a mixture of both channels. Retailers must deliver as many options as possible to create convenience.

While technology might be the key driver of these expectations, it can also be the solution. “Omnichannel” has become the go-to buzzword for the retail industry. With the right technology, retailers can create a holistic view of their operations in real-time, from manufacturer through the supply chain and onto the shop floor. They can generate accurate inventory visibility, and when combined with order management software and point-of-sale (POS), a true omnichannel experience can be delivered.

The challenge that many businesses face when deploying technology is that their solutions don’t communicate with each other. From inventory and order management systems to customer relationship management or point of sale, any deployments must be able to communicate in real time. If one falls behind, every other technology is negatively impacted—stock visibility can drop, order fulfillment might falter and the information available to customers can become inaccurate.

To create a true omnichannel offering, retailers must be able to take a holistic view of their operations, with all technologies communicating seamlessly. Only then can they optimize each individual deployment.

 

Delivering Speed

Seamless experiences have taken over in retail—especially at the checkout. Mobile payments have made the checkout process much quicker, and self-checkout has captured the market. But in such a fast-paced retail environment, these solutions continue to get more advanced.

Traditional checkout terminals can cause issues. Whether they are operated by in-store associates or customers themselves, slow manual processes—especially during peak times—lead to dense queues that can easily turn shoppers away. According to a study undertaken by WaitWhile, nearly 75% of U.S. consumers feel bored, frustrated, disrespected, annoyed or impatient when waiting in queues. So what is the solution?

Technology, once again, can help. With mobile POS, in-store associates can tap into the retailer’s wider technology stack—customer relationship management (CRM) platforms, clienteling solutions and even inventory management systems—to quickly provide customers with accurate information before being able to complete transactions on the spot.

While technology is important, staff also play a significant role in delivering speedy service. They must be well-trained, able to operate the technology effectively, understand all functions and utilize them quickly in order to keep up with customer demands.

This, of course, can take time. Teething issues are commonplace when retailers are undergoing digital transformation, as with any other form of change management within a business. Stakeholders must remain patient, but the long-term benefits are worth any short-term hurdles.

 

Finding The Next Level

Speed and convenience are vital for retailers today, but they don’t necessarily create long-standing relationships with customers.

According to PwC, nearly 80% of American consumers say that speed, convenience, knowledgeable help and friendly service are the most important elements of a positive customer experience. To differentiate themselves, retailers must provide seamless fulfillment with a range of purchasing options, all while delivering exceptional experiences.

In a world of immediacy, ensuring that interactions are unique for customers is essential for providing value. Whether shopping online or in-store, subtle changes can make a big difference. With the right CRM and clienteling functions, retailers can gradually gather data from their customers—from shoe size to their dog’s name. Over time, retailers can make personalized recommendations to visitors or provide exclusive discounts based on their purchase history. A personal touch goes a long way.

This does, however, come with potential pitfalls. Staff must be trained on how to correctly handle private data, and the technology that retailers deploy must also be able to gather and store information securely.

Retailers must also earn this data. In a privacy-first world, consumers are extremely conscious about sharing information. Retailers must build trust with their customers. This can be achieved through transparency, showing customers how their data is used and stored. Retailers can also show customers the benefits of data-sharing through loyalty programs and personalized experiences.

 

Creating The Perfect Experience

With the right technology, in-store associates can approach customers with a smile, welcome them and begin providing value immediately. Tablet in hand, they can pull up the customer’s history and recommend any promotions or suggest specific new-season stock. They can provide real-time information on different products—availability, size and color. From there, purchases can be made without the customer even needing to move.

Speed, convenience and a personal touch create the perfect trifecta for the ultimate in-store experience today. As long as retailers have the capability to deal with the highest customer demands, they can be prepared for anything.

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Evolving Retail: The Need to Elevate Omnichannel Capabilities

Evolving Retail: The Need to Elevate Omnichannel Capabilities

 | by Amber Hovious — VP, Marketing & Partnerships, Teamwork Commerce

Originally posted in: retailcustomerexperience.com

The retail industry has changed dramatically in the past few years with evolving consumer habits, advancement in retail technologies, and growing competition. However, with improved technological capabilities, consumers now expect the ultimate convenience when they leverage modern retail offerings, such as buy-online-pickup-in-store and buy-online-return-in-store. To attract and retain customers in today’s retail environment, retailers must be able to cater to consumer demands across all sales channels and ensure that every touch point is seamless for the customer.

In order to achieve this, retailers must deploy advanced omnichannel solutions to provide optimal customer service. With the right technology, retailers can have a panoramic view of their operations — from stock levels and customer purchase history, all the way through to returns — simplifying retail functions for both retailer and customer alike.

 

Cultivating a Competitive Advantage

 

To stay ahead of the competition, retailers must develop a unique selling point. One effective way they can do this is by building a strong omnichannel strategy. Providing value to customers through an optimized omnichannel experience can help retailers set themselves apart from competitors. In order to add value to customers’ experiences, retailers need real-time information about consumer shopping preferences, purchase history, and frequency of purchases both offline and online. Having a unified omnichannel solution allows retailers to gain these valuable insights about their customers and enables them to tailor customer experiences.

As more businesses recognize that their customers expect consistent experiences across platforms, adoption will increase across industries. The majority of retailers believe that omnichannel strategy is important. The more brands that offer this, the more consumers will expect it.

Another significant benefit of an optimized omnichannel strategy is increased customer loyalty. Customers who have a positive experience with a retailer are more likely to stick with that brand. According to a recent survey from PWC, even if people love a brand, 59% will leave after several bad experiences, and 17% will leave after just one. Increased customer loyalty impacts positively on sales and lifetime value for retailers. Through the right omnichannel approach, appropriate technology and considerate execution, retailers can improve customer loyalty in a variety of ways, such as providing loyalty rewards that can be redeemed online or in-store.

 

Tech Considerations

 

There are numerous solutions available, and it can be difficult for retailers to determine which one is best. The most common mistake retailers make is viewing their omnichannel strategy as an add-on, and not an integral piece of their operation. This can result in a disconnect between the channels and cause unnecessary complexities due to the need to manage multiple ecosystems.

The next factor to consider is integration. Retailers must assess the integration capabilities of their back-end systems. This includes financial systems, merchandising, order management, inventory, analytics, point of sale (POS), and everything in between. It is critical to consider the cost and implications of integrating existing systems. A company may be accustomed to a certain number of transactions, but when Black Friday arrives, can it handle the volume and keep track of inventory in real-time? It is key to select the right technology partner with experience across systems and technologies.

Retailers who have an all-encompassing solution for their retail functions can better streamline their operations and increase efficiency. This can provide a comprehensive view of all retail operations in one location and can be accessed remotely from anywhere in the world. The solution should provide personalized recommendations based on data and performance, be scalable, and be open to future updates and integration.

 

The Future of Omnichannel

 

Retailers must recognize that their digital and physical sales channels do not exist in silos. Most retailers do not personalize the offline journey of their customers, and data is collected only at the point of sale rather than throughout the customer journey. This is a missed opportunity for many, especially since 76% of consumers have changed stores, brands, or the way they shop as a result of the pandemic, and consumer loyalty has been shaken.

Moreover, it is no longer enough to simply have an omnichannel solution in 2023. Rather, retailers must have a strategic plan in place to make the most of their technology investment.

In order to sustain long-term growth, retailers must connect their online presence with their physical stores, with around 73% of shoppers preferring to shop through multiple channels. Despite the growing demand for digital experiences, physical stores will not go away, however, they will take on new responsibilities to better support an omnichannel retail strategy.

These factors, along with increased personalization, and access to massive amounts of leverageable customer data, make omnichannel strategies critical for survival in the new retail era. While the process is complex, it can be greatly simplified with the right automation and technological solutions. The days of any successful brands being driven solely by one channel are over. Everything retailers do requires strong coordination of cross-functional teams — from online to in-store operations. However, as in the past, everything begins with a clear understanding of consumer expectations.

Amber Hovious

With nearly two decades of experience in corporate and channel sales, as well as marketing, Amber Hovious leads Teamwork Commerce’s fast-growing retail software organization in its global expansion. Hovious joined the company in January 2013, and in her current role, is responsible for developing and managing Teamwork Commerce’s channel programs, partnerships and strategic marketing campaigns.

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5 Minutes with a Teamwork Expert: Meet Scott Cahill

5 Minutes with a Teamwork Expert: Meet Scott Cahill

Scott Cahill

Scott Cahill

EU & UK Sales Director at Teamwork Commerce

In our ongoing blog series – Five Minutes With… – we get to know Scott-Pierre Cahill, EU & UK Sales Director, based in Teamwork’s Dublin office. Aside from exploring his wide range of film taste and enjoying the soothing tones of Anthony Kiedis, Scott-Pierre can be found conquering the greens with his golf club…

 

  • What is your role at Teamwork Commerce?

I am the European Sales Director at Teamwork Commerce. My role is to manage and close new business in my region for our company. From managing the business development pipeline to building go-to-market strategies and European retail marketing initiatives, I’m responsible for the management of the entire sales operations in the region.

  • Explain your career path. What inspired you to join the retail tech industry?

I have always enjoyed the retail space because it is so relatable. We are all consumers of retail and all of us have our own shopping behaviors and favorite brands. What fascinates me is how intricate and complex retail operations can be when you look behind the scenes. Our job is to simplify this for our clients and empower them to provide exceptional customer experience.

  • What is your favorite thing about working in the retail industry?

My favorite thing is the people and businesses we get exposed to. Every day there is something different, no two days are the same. This challenges us to continuously solve problems and find the right solution for our clients.

  • What is the best career advice you have ever received?

1) “Always answer the question you are being asked.”

2) “You have two ears and one mouth for a reason, use them in that ratio.” (Listen and learn more than you speak)

  • What is your favorite thing about working at Teamwork Commerce?

The culture here is like nothing I have experienced before, we really are a team. In addition, Teamwork Commerce is a growing company that empowers its employees to forge their own career paths and supports them to get there.

  • Who are your key role models/inspirations?

My father has really been my main role model and inspiration growing up. He’s been through a lot in his professional and personal life, and he is someone I have learned a lot from.

 

Rapid-Fire Round

What is your favorite…

  • Book: Shoe Dog, Phil Knight
  • Movie:
    • Comedy: Tie between Wedding Crashers and Superbad.
    • Thriller/Action: Inglorious Bast*rds.
    • Drama: Remember the Titans
  • Album: Californication, The Red Hot Chili Peppers
  • In my spare time, I enjoy playing golf (although my handicap wouldn’t reflect this!) and spending time with family and friends.

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How Does an All-Encompassing Retail Solution Benefit High-End Apparel Retailers?

How Does an All-Encompassing Retail Solution Benefit High-End Apparel Retailers?

In the dynamic realm of the luxury fashion industry, change is an inherent characteristic. High-end apparel retailers thrive on their ability to adapt and showcase resilience in the face of uncertainty.

High-end retailers have unique requirements as customers demand convenience and have become accustomed to personalized experiences. As soon as shoppers walk into a store, they expect high-quality interactions that are tailored to their specific needs. It is essential for retailers to make their customers feel valued in order to earn and retain their loyalty.

Gone are the days when simply offering high-quality products and exquisite craftsmanship was enough to satisfy discerning consumers. Now, high-end apparel brands must go beyond traditional measures of success and focus on delivering a timely and timeless form of meaningful value. By embracing the latest technological innovations, retailers can live up to evolving needs of today’s retail environment.

How Does an All-Encompassing Retail Solution Benefit High-End Apparel Retailers?

Tailored Interactions

The latest state-of-the-art solutions can enable retailers to deliver personalized customer experiences. Teamwork Commerce’s Mobile Point of Sale System (POS), is specifically designed to cater to the unique needs of high-end retailers. The comprehensive POS solution enables retailers to gain valuable insights into customer profiles. By analyzing buying habits, purchase history and frequency, retailers can better understand customer preferences and tailor their offerings accordingly.

Teamwork Commerce’s Mobile POS system not only streamlines the entire POS processes versus cash registers, like scanning items and accept payments, but also provides retailers with the ability to seamlessly implement and manage customer loyalty programs. By leveraging this POS software, clothing and apparel retailers can effectively incentivize repeat purchases, cultivate long-lasting relationships with their customers, and ultimately drive growth in their business.

What’s more, Teamwork Commerce and Endear’s joint clienteling solution delivers an all-in-one platform on mobile POS, not only providing retailers with a flexible means of completing transactions in-store, but technology that enables them to learn more about their customers, understand their needs and provide an unrivalled customer experience on the spot. 

Powerful Inventory is a Must

 

Inventory management plays a crucial role in the efficient operation of retail stores, particularly in the high-end apparel industry. Unlike other retail categories that may deal with large quantities of a single product, high-end apparel stores typically have limited stock for each item. As a result, having accurate knowledge of the location and availability of these items becomes paramount for effective store management.

To access all this information in real-time, retailers need a robust inventory solution that is integrated with their wider retail ecosystem – covering their supply chains, online platforms, stock levels and physical stores. Teamwork Commmerce’s Inventory Control solution enables retailers to maintain accurate and up-to-date inventory reports, providing valuable insights into the availability of sizes and colors across various locations and warehouses. This accurate inventory-related information prevents retailers from overselling products while helping them avoid out-of-stock situations. 

In the ever-evolving luxury retail industry, providing elevated and personalized experiences has become a defining characteristic of high-end customer service. With access to detailed information about individual customer preferences, high-end retailers can now curate their offerings and create unique experiences to meet the different expectations of customers. By effectively managing their inventory, these retailers can ensure that they have the right products available at the right time, thereby enhancing the overall customer experience and solidifying their position in the luxury space.

Want to see how choosing the right POS for your retail can help your business grow? Book a customized demo here.

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How Teamwork Commerce is Helping Retail Become More Sustainable

How Teamwork Commerce is Helping Retail Become More Sustainable

Sustainability is no longer an option but a necessity for the retail industry. In the United States alone, retail generates over $2 billion in waste each year. Moreover, the industry is responsible for 4% of all global greenhouse gas emissions. Adopting environmentally friendly practices benefits retailers not only in terms of the environment, but also in regard to brand reputation, operational efficiency, and meeting the changing expectations of environmentally conscious customers.

Technology has the potential to play a significant role in helping retailers to implement sustainable initiatives. From supply chain management to in-store services, retailers can deploy advanced solutions to reduce their environmental impact and make strides towards becoming more environmentally friendly in the long-term. These principles enable retailers to offer sustainable products, reduce waste, optimize resources, and effectively collaborate across the supply chain to drive positive environmental impact and meet the expectations of eco-conscious consumers.

How Teamwork Commerce is Helping Retail Become More Sustainable

Boost Sales While Cutting Waste 

 

Due to ineffective forecasting, some retailers frequently find themselves with an overabundance of a particular item. The additional emissions produced by manufacturing, transporting, and storing these excess of products can have a significantly negative impact on the environment. To forecast effectively, retailers must have real-time visibility into their inventory and wider retail operations. With a single click, retailers can gain dynamic control over their inventory with Teamwork Commerce‘s Inventory Management solution.

Beyond automation and real-time reporting, the state-of-the-art solution offers retailers personalized recommendations based on their historical data and ongoing trends. These tailored reports, based on real-time first-party data, allow retailers to order the right items at the right time and in the right quantity, ultimately increasing efficiency and lowering waste and their carbon footprint by avoiding overstocking, streamlining the supply chain, and promoting sustainable sourcing, all moving towards a circular economy.

Furthermore, retailers are implementing omnichannel strategies, integrating online and offline sales channels, with Teamwork Commerce’s Order Management solution. Using this technology, retailers can improve inventory allocation across channels, reduce redundant transportation and packaging, and boost overall operational efficiency. This technology also enables BOPIS (Buy Online, Pick Up In-Store) and BORIS (Buy Online, Return In-Store) — retail strategies, that provide customers with convenience while also contributing to sustainability efforts, by optimizing how customers interact with the supply chain.

Make A Difference for Sustainable Retail with Every Purchase

 

According to a recent survey, 63% of consumers are taking steps to change their lifestyle, including adopting greener purchasing habits, in order to become more sustainable. What does this mean for retailers? In addition to providing the best in-store customer experience, retailers must prioritize and focus on sustainability in their brick-and-mortar operations. They can accomplish this in a variety of ways, including the use of mobile point of sale (POS) solutions to promote greener decision-making for customers at every single touchpoint.

Retailers can employ Teamwork Commerce’s cutting-edge Mobile POS solution to visualize and segment customer purchasing habits across all sales channels. They can utilize this technology to reward customers for participating in sustainability strategies and campaigns, such as offering exclusive discounts to customers who bring their own recyclable shopping bags.

Furthermore, retailers can use this solution to create individual customer profiles and store order receipts in the cloud to promote paperless transactions. This also eliminates the need for customers to carry receipts when exchanging items or processing returns for customers.

Confronting The Returns Crisis

 

In 2022, approximately 16.5% of retail purchases in the US were returned. These products often end up in landfill sites rather than back on shelves. Retailers must take action to improve customer satisfaction and reduce returns, by optimizing their retail supply chain.

Order Management Systems (OMS) can be an effective tool to helping minimize the number of products that consumers return products. Returns are frequently caused by incorrect or incomplete orders, and Teamwork Commerce’s OMS can assist in reducing this by ensuring that customer orders are processed correctly, with the correct products, quantities, and shipping information. By incorporating features such as real-time inventory management, automated order processing, and shipping carrier integrations, retailers can take a significant step toward becoming a ‘greener’ brand.

Furthermore, by providing valuable insights into order and return data, an OMS can assist retailers in identifying trends, improving processes, and making data-driven decisions. By analyzing factors such as return reasons, product categories, and customer behavior, retailers can identify opportunities to reduce returns and improve the customer experience.

Teamwork Commerce is Revolutionizing Sustainability in Retail

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The retail industry plays a significant role in our daily lives, but its operations often come at a cost to the environment. The need for a sustainable retail and greener processes in the industry has become increasingly apparent as the impact of the industry becomes more pronounced.

Retailers generate substantial amounts of waste, consume vast amounts of energy, and contribute to pollution throughout the supply chain. By implementing sustainable practices, retailers can mitigate their environmental impact, creating a greener operation from a sustainable supply chain to storefront, and appealing to the preferences of today’s conscious consumer.

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Summer Shopping 2023: How Retailers can Boost Customer Loyalty

Summer Shopping 2023: How Retailers can Boost Customer Loyalty

Originally posted in: Retail TouchPoints

Today, consumers demand a seamless shopping experience at their own convenience. From curated discounts to automated checkout processes, convenience and customization have become key differentiators between success and failure in a fiercely competitive retail environment.

Last year, ‘summer holidays/vacations’ ranked in the top four seasonal events for increased consumer shopping, according to YouGov. Busy shopping periods provide retailers with enormous growth opportunities, such as increased in-store footfall and website traffic. Retailers must cater to both: existing customers who return to purchase following a great previous experience as well as shoppers who sneak in to find great deals, a variety of choices and, of course, better customer service. However, it can also negatively impact retailers who fail to live up to the expectations of today’s consumers. 

Avoiding Costly Mistakes: The Need for Accurate Stock Control

Out-of-stock items can be highly frustrating for customers, who could ultimately turn to another retailer to make purchases instead. To earn and retain their loyalty, retailers must be able to offer the right product, through the right sales channel, at an appropriate time and price for their customers. As omnichannel capabilities evolve, it is becoming increasingly crucial for retailers to deploy advanced inventory solutions that can easily integrate with their wider retail tech stack, and communicate in real time to deliver fulfillment options that provide customers with a range of purchasing options.

Today, state-of-the-art solutions can provide accurate inventory-related information in real time, helping retailers make smarter decisions. Retailers can customize where inventory is assigned and how it will be fulfilled, in seconds. In fact, the latest inventory solutions can even alert retailers of when to order more, providing customized recommendations based on trends and historical performance data. What’s more, retailers can also assign a status for damaged or defective items and remove them from the on-hand inventory, synchronizing directly to the cloud.

Alternatively, retailers can leverage these disruptive solutions to deliver and improve omnichannel offerings such as buy online, pick up in-store (BOPIS) and buy online, return in-store (BORIS). This can further enable them to provide customers with clear and accurate inventory information in real time, creating a seamless experience and reducing the amount of time spent waiting around in-store, further helping retailers meet those challenging customer expectations.

Maximizing Loyalty Through Convenience

According to PWC, 73% of consumers globally agree that a positive experience is key in influencing their brand loyalties. Long queues and delays can be a nuisance for customers, compromising their overall experience with retail brands. To avoid this, retailers must find effective ways to bust queues to keep up during busy periods while ensuring a top-tier and convenient shopping experience for their customers.

A seamless and efficient checkout experience is crucial for boosting customer satisfaction and loyalty. In fact, 37.1% of retailers in the U.S. and the UK claimed that their customers would opt for other merchants if they did not offer consumers the ability to scan products and pay without waiting in a queue. To optimize their checkout process, retailers can lean on innovative solutions including advanced POS systems, mobile payment solutions and even self-checkout terminals.

The latest mobile POS systems can prove to be a game-changer, enabling staff to serve customers from any part of the store. This can significantly help retailers reduce checkout queues and serve their customers more quickly and seamlessly. Alternatively, retailers can utilize RFID-powered self-checkout solutions that optimize the checkout process by automatically scanning all of a shopper’s items at once. This can be significantly useful during busy shopping periods, with more customers completing their transactions in a much shorter amount of time.

With either of these solutions deployed, in-store associates can better devote their time to helping and interacting with customers, providing value to their shopping experience and ultimately increasing customer satisfaction levels.

Driving Retail Success with Tailored Interactions

One of the best ways to add value to the shopping experience of customers is to personalize their interactions at every retail touch point throughout their shopping journey. Retailers have already started to leverage data to curate customer experiences. However, to thrive in a rapidly evolving landscape, they must be able to identify change, new trends, and habits as soon as they occur, This is only possible through harnessing data in real time.

With the right mobile POS solutions integrated with wider retail technologies such as inventory management solutions, data and analytics or even customer relationship management (CRM) platforms, in-store associates can access crucial data about customers’ preferences at the tap of a button. This helps them to better assist customers and deliver a highly personalized experience for shoppers.

As customers flock to stores and websites to purchase their summer essentials, retailers must be prepared to earn and boost their loyalty. Deploying cutting-edge solutions can enable retailers to capitalize on opportunities around these busy shopping periods.

Amber Hovious is the  VP of Marketing and Partnerships at Teamwork Commerce. She has been part of the Teamwork Commerce family for seven years, building out the marketing strategy, business growth and approach as well as cultivating a wide array of partnership relationships to drive long-term success.

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