As shoppers flock to stores and websites to purchase their summer essentials, retailers must navigate ways to make the most of the summer shopping peak. According to the National Retail Federation (NRF) forecast, United States retail sales are estimated to expand by 6% in 2023. To capitalize on this busy shopping period, retailers must cater to rapidly changing consumer behavior.

Today, consumers demand a seamless shopping experience at their own convenience. From product recommendations and discounts to automated checkout processes – convenience and customization have become a common part of consumer expectations. Any variances in consumer inclinations can directly affect retailers, and they must comprehend how to meet the needs of their customers while out-maneuvering the competition.

To make the most of the upcoming shopping peak, retailers must be able to create a more efficient and cost-effective way of doing business while also being able to ensure a high-quality shopping experience for their customers. Technology can serve as a great facilitator to help retailers advance their capabilities to meet customer demands. In fact, a 2022 Coresight survey estimated that more than two-thirds of retailers plan to increase their investment in technology over the next three years.

From the supply chain through to in-store operations – retailers are deploying next-generation solutions to boost their sales, efficiency, and profitability.

As shoppers flock to stores and websites to purchase their summer essentials, retailers must navigate ways to make the most of the summer shopping peak. According to the National Retail Federation (NRF) forecast, United States retail sales are estimated to expand by 6% in 2023. To capitalize on this busy shopping period, retailers must cater to rapidly changing consumer behavior.

Today, consumers demand a seamless shopping experience at their own convenience. From product recommendations and discounts to automated checkout processes – convenience and customization have become a common part of consumer expectations. Any variances in consumer inclinations can directly affect retailers, and they must comprehend how to meet the needs of their customers while out-maneuvering the competition.

To make the most of the upcoming shopping peak, retailers must be able to create a more efficient and cost-effective way of doing business while also being able to ensure a high-quality shopping experience for their customers. Technology can serve as a great facilitator to help retailers advance their capabilities to meet customer demands. In fact, a 2022 Coresight survey estimated that more than two-thirds of retailers plan to increase their investment in technology over the next three years.

From the supply chain through to in-store operations – retailers are deploying next-generation solutions to boost their sales, efficiency, and profitability.

Accurate Inventory Is a Must

Manual entries with traditional inventory solutions are clearly not enough to meet today’s retail requirements. Not only do manual entries slow down the entire process, but they also do not guarantee the required accuracy due to human error. This can further lead retailers to make inappropriate inventory decisions in areas such as production, procurement, and distribution.

To boost efficiency and profitability, retailers must be able to ensure that the right amount of product is in the correct place and accessible when required. This can be achieved through the deployment of the right technology. For example, the Teamwork Commerce Inventory Management System is designed to help retailers automate and streamline their processes, so they can reach the next level of success.

The core principles of the solution are advanced functionality, data-driven information, analytical insight, and strategic analysis. With this information available at the click of a button, retailers are aware of every single detail concerning unit availability, location, and status. This technique helps retailers maintain a proper balance between stock and demand, particularly when there is an increase in consumers and an exponential increase in demand.

Ahead of summer’s shopping peak, having the right technology can help retailers track their inventory more accurately in real time. In addition, retailers can further prevent stock-out situations whilst avoiding overstocking items that aren’t selling fast. Moreover, retailers must advance their in-store technological deployments to ensure a top-tier shopping experience for their customers.

Strengthening the Brick-and-Mortar

Summers tend to be a busy shopping season for retailers and customers alike. Long queues and delays can be a nuisance for customers, compromising their overall experience with the retailer, thus, retailers must find an efficient way to bust queues and keep up during periods of high demand.

One way retailers can help in-store associates serve their customers more quickly is by introducing a mobile point-of-sale (POS) system which allows staff to serve customers from any part of the store. Teamwork’s Mobile POS system operates exclusively on cutting-edge iOS devices with Apple UI/UX (User Experience/User Interface), this system has revolutionized the checkout experience and created a better customer journey. What’s more, the solution is also designed to facilitate complex calculations, increase efficiency and leverage advanced technology processing capabilities.

Taking Personalization to the Next Level with Secure CRM

During busy periods, retailers need to obtain accurate data about their customers to ensure success. In a cookieless world, first-party data has become increasingly valuable for businesses. This data, which is generated by customers’ interactions with websites, apps and other digital properties, provides an unprecedented level of insights into customer behaviors and preferences. It is the jewel in the crown that can help them understand their customers better and offer them a personal shopping experience.

Knowing that data is a game changer for retailers, Teamwork Commerce’s Customer Relationship Management (CRM) tool offers a comprehensive overview of customer interactions with a business, allowing retailers to track customer behavior over time and make informed decisions. By leveraging this data, retailers can create tailored experiences for their customers that will keep them returning. For example, by leveraging customers’ purchase history of previous summer seasons, retailers can better understand customers’ purchase budgets, categories and preferences.

In addition, the solution offers an overarching holistic view of the consumer journey, from gaining insights into the customer retail journey to analyzing the customer’s overall information and finally providing a customer-centric service to the consumer. Integral to the state-of-the-art solution is data security, it ensures the utmost security for safeguarding customer information. By keeping it in a centralized location, the CRM makes sure that all data is secure and compliant with industry regulations.

With an increase in customer requests during the summer season, it becomes imperative for retailers to prioritize setting up the right mechanisms to ensure that customers have a hassle-free and enjoyable shopping experience. To maximize commercial success, retailers need to develop and execute a comprehensive strategy that relies on technological solutions. These solutions streamline processes and enable retailers to concentrate on optimizing the customer experience from start to finish.

Providing an efficient and personalized customer experience is vital for success in today’s competitive retail landscape. The Point-of-Sale experience is a critical moment where businesses have the opportunity to leave a lasting impression on their customers. It’s not just about completing a transaction — it’s about creating a memorable and seamless interaction that enhances customer satisfaction and loyalty. This is why Teamwork Commerce developed its RFID-Powered Self-Checkout solution, to simplify the checkout process for in-store customers.

This innovative solution enables global retailers to provide their in-store customers with seamless shopping experiences. It employs Radio Frequency Identification (RFID technology) to enhance the efficiency and speed of the checkout process in retail stores, replacing traditional barcode scanning with RFID tags and readers that offer several benefits for both customers and retailers. Here’s how RFID In-Store Checkout assists retailers in improving their operations and increasing retail sales:

Improved Efficiency

RFID technology allows faster and more accurate check-out processes. Unlike traditional barcode scanning, which requires each item to be scanned individually, RFID readers allow multiple items to be identified simultaneously, reducing check-out time significantly. This increased efficiency allows customers to experience shorter lines and shorter wait times, resulting in a more satisfying customer journey.

Enhanced Inventory Management

RFID tags attached to products can be detected quickly and accurately, enabling real-time inventory tracking. Furthermore, as items are sold or restocked, the system automatically updates the inventory status, ensuring accurate and up-to-date information at all times. And with RFID-Powered Self-Checkout, all in-store items will be equipped with RFID tags – enabling retailers to gain a better insight into their inventory.

This helps to avoid out-of-stock situations, ensures better product availability, and reduces the likelihood of missed sales opportunities. Accurate inventory management also aids in optimizing product placement and reducing overstocking.

Personalized Customer Experience

RFID check-outs make personalized customer experiences possible. Retailers can collect data on individual preferences, purchase history, and browsing patterns by integrating RFID technology with customer loyalty programs or mobile apps. Retailers can use this data to provide tailored recommendations, targeted promotions, and customized offers to customers at the point of sale. This personalization improves the customer experience, boosts buyer satisfaction, and fosters loyalty.

Minimized Shrinkage and Theft

RFID technology increases security measures for retailers. Retailers can effectively track and monitor inventory movements within the store by attaching RFID tags to products. This improves the detection of unauthorized removal or theft, lowering the risk of shrinkage. RFID’s enhanced security assists retailers in asset tracking, creating a safe shopping environment and minimizing losses.

In today’s competitive market, the Point-of-Sale experience can make or break a business. It’s the final touchpoint where customers decide whether to become repeat customers or look elsewhere. Investing in a positive and engaging experience at this crucial stage is essential for long-term success. To remain competitive retailers must consistently push the boundaries of innovation and remain agile to continuously changing consumer demands.

RFID-powered Self-Checkout is the latest in a long line of technologies that are improving the overall customer experience, and retailers need to partner with the right IT provider to ensure that their retail technology operations are innovative, scalable, and sustainable. And most importantly, geared to generate long-term growth.

Customers crave convenience and personalization, and the Point-of-Sale is where these factors come together. By offering streamlined processes, tailored recommendations, and seamless payment options, businesses can significantly enhance customer satisfaction and drive repeat business.

Want to get a demo of how this solution can enhance the customer experience? Please get in touch.

Ana Santana

Business Development Executive at Teamwork Commerce

For the latest edition of our new blog series – Five Minutes With… – we get to know Ana Santana, Business Development Executive, based in Teamwork’s Tampa office. Growing up in Chicago, Ana’s love of retail inspired her to take a leap into the retail technology industry. Here, she tells all about her time in the sector and her experiecne at Teamwork Commerce…

• What is your role at Teamwork Commerce?

My role is Business Development Executive, so I am responsible for sourcing and developing leads and will pass them over to the Sales team when the time comes. I spend a lot of time building relationships with prospective clients.

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

I’ve held various roles within recruiting, operations, and hospitality but the constant among all of my roles has been the desire to communicate and build relationships with others toward one common goal. This (along with a love for retail) is what I believe has inspired me to join the retail tech industry.

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

My favorite thing is seeing the changes and evolution of the retail industry firsthand. It’s one thing to be a consumer who has opinions with the ability to sway trends but it’s another to be a part of a team who can directly impact the lives of fellow consumers via our modern tech stack both in-store & online.

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

I would say the best advice I have received is “Always be willing to learn & use your resources”. Even when you think you know it all, there is someone who can teach you more. Then, repeat the cycle & be that person for someone else.

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

Really feeling cared for professionally AND personally. Everyone wants you to succeed here – and that is the same value we strive to give to our clients.

• Who are your key role models/inspirations?

I have plenty of role models in my family and famous culture. However, I always try to imagine the most ideal inspirational woman & actively take steps each day to become that woman.

Rapid Fire Round…

What is your favorite…

• Book – The Power of Now
• Movie – Almost Famous
• Album – One Thing at a time by Morgan Wallen or Bloom by Rufus Du Sol

• Most people don’t know that I…

Was the first in my family to move away from home (Chicago) & graduate from college with a 4 year degree.

• In my spare time, I…

Am usually at the gym or looking to try new restaurants.

Businesses need order management software now more than ever to navigate the complexities of today’s retail landscape. With omnichannel sales, global supply chains, and high customer expectations, retailers must have a centralized system to manage orders, inventory, and fulfillment across all channels.

In a highly competitive retail environment, effective order management is critical for reducing returns. In 2022, approximately 16.5% of retail purchases in the United States were returned. Retailers must take action to improve customer satisfaction and reduce returns. This can be done by streamlining order processing, optimizing inventory management, and providing accurate tracking and delivery updates.

A Retailer’s Secret Weapon for Reducing Returns and Boosting Profits

Order Management Systems (OMS) can be an effective tool for reducing returned products in the retail industry. Here are some of the ways an Order Management System can help reduce returns, as well as the features and applications that make this possible, such as:

Order Processing

Incorrect or incomplete orders are a common cause of returns. OMS can help to reduce this by ensuring that customer orders are processed correctly, with the correct products, quantities, and shipping details. This can be accomplished through features such as real-time inventory management, automated order processing, and shipping carrier integrations. Furthermore, it empowers omnichannel buyers who use services such as Buy Online, Pick up In-Store (BOPIS) by increasing efficiency throughout the buyer journey and, as a result, driving revenue for retailers.

Inventory Management

Out-of-stock items or incorrect inventory levels are prevalent reasons for returns. By providing real-time visibility into inventory levels across all channels and locations, OMS can help prevent this. This allows retailers to avoid overselling, prevent stockouts, and fulfill orders more efficiently.

Analytics and Reporting

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

Customer Communication

OMS can assist retailers in personalizing the user experience for each customer. Communicating clearly and promptly with customers is beneficial. It can reduce customers returns by giving accurate order status updates, shipping notifications, and delivery tracking information. An Order Management System can automate these communications, providing customers with a consistent and transparent experience throughout the order fulfillment process.

Returns Management

When returns do occur, OMS can assist retailers in the order management process effectively. Features such as automated returns processing, customer self-service portals, and integrations with shipping carriers can help to streamline the returns process, saving time and money.

OMS can provide retailers with a competitive advantage by helping to reduce returns and boost profits. By streamlining order processing, providing real-time inventory management, offering valuable analytics, and reporting, enhancing customer communication, and facilitating returns management, OMS improves the overall customer experience while increasing operational efficiency.

As the retail landscape continues to evolve, retailers who invest in OMS will be better positioned to succeed in an increasingly competitive marketplace.

Transforming Retail Operations

Teamwork Commerce’s OMS is a cloud-based solution that can be accessed directly through a web browser, requiring minimal installation, and allowing seamless access from any device. The platform synchronizes order data across channels, enabling a unified view of all commerce from all locations, platforms, or channels.

The Order Management System is the foundation of the Teamwork Commerce solution, with industry-leading features and functionality that enable customers to have flexible, engaging, and seamless shopping experiences. Teamwork’s OMS provides a comprehensive set of functionality and automation for dynamically setting buffer stock, configuring fulfillment logic based on various factors, and adjusting stock levels based on warehouse statuses.

Order management is central to retail. As brands increasingly rely on flexible fulfillment, legacy fulfillment systems are incapable of meeting the growing consumer demand for fulfillment and convenience at the point of sale. With an effective OMS, orders can be fulfilled at the most convenient location for the customer.

Teamwork Commerce can simplify fulfillment and provide access directly from the point of sale with integrations into third-party logistics and key strategic partnerships across the industry, keeping order management accessible, convenient, and visible — ensuring the same experience in-store and online.

The recognition of mental health’s importance for global development has increased in recent years. This is evident from the inclusion of mental health in the Sustainable Development Goals (SDGs) of the United Nations. 

Mental health conditions can profoundly impact many aspects of our life, including school or work performance, relationships, and the ability to participate in the community. According to WHO, globally, an estimated of 12 billion working days are lost yearly due to depression and anxiety, not only affecting the life’s people themselves, but the socioeconomic landscape, costing US$ 1 trillion per year in lost productivity.

As we celebrate Global Mental Health Awareness this Month, in Teamwork Commerce, we wanted to shed light on this vital topic. We believe in prioritizing the well-being of our employees and all of our stakeholders. That is why, in this article, we will discuss the significance of maintaining positive mental health in the workplace, and explore practical ways to achieve it. But what is the significance of this? 

Risks to Mental Health at Work

Mental health conditions are increasing worldwide; almost 60% of the world’s population is actively working, and 15% of working-age adults were estimated to have a mental disorder in 2019. Adding to these numbers, there are many reports on this topic, such as one by The Harvard Business Review that reported 68 percent of Millennials and 81 percent of Gen Zers (versus 50 percent and 75 percent respectively in 2019) have left roles for mental health reasons, both voluntarily and involuntarily.

As can be seen, prioritizing mental health and implementing effective strategies to promote well-being in the workplace are crucial these days. Within the workplace, there are many factors that can impact the mental health of employees. These factors can arise from multiple sources, including job responsibilities, work hours and schedules, work environment, and the availability of opportunities for career growth and advancement, among other factors. 

It is our responsibility as employers to combat negative factors in the workplace. We should strive to create an environment that allows for our employees to be content and fulfilled. But, what steps can be taken to accomplish this? These are some recommendations. 

Prevent work-related Mental Health Conditions

Some of the risks to mental health at work can include overwhelming workloads, an accelerated work rhythm, unsocial or inflexible hours, lack of support from colleagues, and an organizational culture that enables negative behaviors, among many others. 

To prevent mental health conditions in the workplace, it is important to address potential risks ahead of time. This can be done by providing programs and activities that focus on working conditions and work environments. Examples of such activities include: 

• Providing flexible working conditions, like mixing in-office and remote work, whenever the employees decide, or by an agreed schedule. This usually results in people having a better work-life balance. 
• Opting for tools and team dynamics to help employees have better communication and encourage team collaboration and seamless workflows.
• Creating detailed role descriptions and activities for all the employees, and encouraging them to respect and set boundaries at work.
• Implementing frameworks to deal with bullying, discrimination, exclusion, and harassment.
• Encouraging a supportive environment: where the culture values mental well-being and supports open communication, empathy, and respect among colleagues.
• Managing workloads: Monitor workloads and ensure they are reasonable and manageable, avoiding excessive work demands.

Protect and Promote Mental Health at Work

Despite the growing efforts of many companies to raise awareness and provide support for the mental well-being of their employees and stakeholders, mental health continues to be a taboo topic for many. 

Fortunately, being an advocate, protecting, and promoting mental health at work increases with time. According to a 2021 survey cited by the Harvard Business Review, 47 percent of employees perceived their company leaders as advocates for mental health at work, marking an increase from 37 percent in 2019.

Protecting and promoting mental health in the workplace involves being proactive about ways to propitiate a safe place for mental health at work, some of the activities might include: 

• Engaging in mental health training. This helps managers and supervisors recognize and respond to the signs of emotional distress. For employees, it also helps to set boundaries and have a better work-life balance. 
• Raising awareness and providing resources. Provide education on mental health, including common conditions, signs to be aware of, online self-help tools, and others. An internal campaign can also work effectively.
• Encouraging social connections, team building activities, and interactions in and out of the workplace. 
• Creating an enabling environment for change is a sign of openness. This enables open communication and encourages employees to share new ideas and proposals. Constant feedback is also beneficial. 
• Launching anonymous surveys regularly. Schedule one-to-one calls with employees. The purpose of these calls is to discuss how employees feel in the workplace.

In conclusion, prioritizing mental health in the workplace is not only crucial for the well-being of employees but also for the overall success of organizations. Reports have shown that a significant number of employees, especially younger generations, have left their roles due to mental health reasons. It is clear that certain work-related issues can lead to mental health problems. These factors include an excessive workload, inflexible schedules, inadequate support, and a negative work environment. 

It is essential for employers to take preventive measures to address challenges related to mental health in the workplace. They should promote a supportive environment and actively protect and promote mental health. By prioritizing the well-being of not only employees but all the stakeholders of an organization, brands can create a positive work environment that enhances mental health and ultimately contributes to the success and happiness of both individuals and the company as a whole.

Do you want to know more about Teamwork Commerce and how we can help your retail business? Contact us!