3 Retail Technologies We’re Grateful for This Thanksgiving

Thanksgiving is around the corner! With yams on the mind, the nation is busy preparing for a range of festivities. Regardless of how you might celebrate: watching the Macy’s Thanksgiving Day parade, tuning into the football, or eating your way into a potato-induced nap, Thanksgiving is steeped in tradition.

These traditions have transitioned into the retail world. Acting as the appetizer to Cyber Weekend (poorly used food-based pun intended), Thanksgiving Day kicks off the festive shopping period, with Black Friday following immediately after.

According to the National Retail Federation (NRF), 196.7 million customers shopped over Thanksgiving weekend in 2022 – and its popularity is only expected to grow as consumers try to spread out their festive spending.

On the subject of tradition, perhaps the most important of all is the opportunity to reflect on what we are thankful for. So here you go, we’ve outlined 3 retail technologies that we’re grateful for this Thanksgiving…

Mobile Point of Sale

According to BCG, an eye-watering 74% of consumers are expected to search for great deals during this year’s Black Friday weekend. With incredible consumer appetite for a bargain, in-store footfall will inevitably increase significantly around Thanksgiving.

Busy stores run the risk of customer frustration. Limited space on the shop floor combined with long queue times can quickly turn off would-be customers during Thanksgiving weekend. Retailers need a solution that alleviates this issue, and Mobile Point of Sale (POS) can do exactly that. Capable of completing quick and seamless transactions from anywhere in-store, mobile POS can optimize in-store sales opportunities while significantly reducing wait times for customers.

Order Management  

In order to avoid crowded stores, many consumers today choose to buy online and pick up in-store (BOPIS) – ensuring an easy, streamlined purchase that fits around their schedule. Creating omnichannel fulfilment enables retailers to provide customers with more options for how they conduct their transactions, and opens more doors for sales opportunities.

This can only be achieved with order management technology, connecting e-commerce platforms with wider retail operations to generate shipments. With the right solution deployed, orders can be placed from multiple locations and fulfilled anywhere.

With the flexibility of being able to shop in the ways that suit them best, retailers can deliver an enhanced customer experience that provides convenience for consumers during an extremely busy period.

Customer Relationship Management

According to NRF, consumers begin their festive shopping as early as October. They buy early, and they plan everything well in advance. As a result, retailers should recognize that the likelihood of impulse buys during the festive period drops significantly.

Using Customer Relationship Management (CRM) effectively, retailers can take advantage of the meticulous research consumers undertake. Able to track all interactions with customers – which products they have viewed, or size and color preferences – retailers can use this to their advantage and push specific, personalized messages that encourage sales.

Whether creating personalized discounts on viewed items, or offering specific loyalty points for certain purchases, retailers can not only encourage customers to buy from their store, but they can begin to leverage secure data for long-term relationship building.

Keep the Bigger Picture in Mind

Thanksgiving – and the following festive period – sees an uptick in sales for the retail industry. While maximizing profits is a priority for many, retailers should take this time to really focus on delivering high-quality customer experiences that create and nurture strong relationships with customers. With these relationships established, they can benefit from the growth in long-term retained customers. Now that is truly something to be thankful for.

Interested in finding out how technology can help your retail business drive long-term customer relationships this festive season? Book a live demo here.