Tag: Click and collect

Why managing inventory the right way matters?

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ETP-inventory-management

Technology has completely transformed the way people make purchases. From online marketplaces to brick-and-mortar stores, retailers tend to implement innovative measures to better cater to the needs of customers. 

They incorporate promotion planning, customer analytics, and mobile payments to enhance the shopping experience. But, one thing that forms the backbone of retailing is somehow neglected in the entire retail chain. Yes, we are talking about inventory.

Managing inventory is not just a single task encompassing certain limited activities; it is a process that involves some complex calculations such as sell through rate, inventory turnover ratio, GMROI among others. 

It is an uphill task to perform the aforementioned calculations, which in turn makes it difficult for retailers to manage their inventory. Retailers require a tool that bridges the gap between brick-and-mortar stores and marketplaces, and provides them with a single, simple, and holistic view of the inventory.

One such powerful tool is ETP Connect – a robust, multifunctional, and comprehensive tool that connects the brick-and-mortar stores with the ecommerce sites and marketplaces. It provides real time updates to the stores and head office of the retailers about the purchases being made both offline and online. 

Whenever a purchase is made through website or marketplaces, ETP Connect routes the information to the head office, where the designated authority can view the immediate effect on the inventory in real time.

Also, since retailers get access to real time data, it simplifies their task of computing complex inventory calculations, thus enabling them to take timely decisions to further speed up their entire retailing process. The effects of this are manifested in the form of satisfactory customer experiences and a robust bottom line.

ETP Connect is a one stop solution for leading retailers to end their inventory management woes, by enabling them to better plan their business strategies. It also allows retailers to have a unified view of customers, endless aisle, and features such as Click and Collect, and Click and Deliver. 

Put an end to all your retail woes by implementing a futuristic and powerful ETP Connect and embrace the omni-channel transformation the right way.

Also Read : Retail And The Importance Of Integration

ETP amongst the 25 Most Promising Retail Solutions Providers – 2017: APAC CIOOutlook

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ETP Group, a leading provider of Omni-channel Retail Solutions in Asia, India and the Middle East is honored to be amongst the 25 Most Promising Retail Solutions Providers – 2017, as presented by the editorial board at APAC CIOOutlook. The key points of consideration while compiling this carefully selected list of new age retail solutions providers were their expertise, innovation and the ability to provide the right intel and resources to implement a scalable, cost-effective and easy to implement retail solution.

ETP apac-cio-outlook

ETP is specifically focused on brick and mortar retailers as well as online retailers, and in fact is the change agent for the convergence of the two. ETP’s Omni-channel Retail Solution – ETP V5 serves large retailers for their enterprise class requirements of scalability, security, compliance and high performance. “We are very happy to be recognized at this moment in time for our leadership in the retail industry, when we are helping retailers transform from traditional brick and mortar models to a fully omni-channel model and embrace the new age consumer”, says Naresh Ahuja, Chairman and CEO, ETP International.

ETP is an Omni-channel Retail Solutions company headquartered in Singapore, driving change in Asia Pacific, India and the Middle East. ETP’s software includes Omni-channel POS, Mobility, CRM, Marketing and Promotion Campaigns, Procurement, Warehousing, Distribution, Omni-channel Analytics and Omni-channel Connect. ETP V5 is used to serve customers across 22 countries and thousands of stores for over 500 brands.

ETP is enabling brick and mortar retailers to embrace omni-channel commerce and drive their brand-customer relationships in a unified manner with features such as Click and Collect, Click and Deliver, Endless Aisle, a holistic view of the inventory and a single view of the customer. ETP helps its customers get it right in omni-channel retail.

Why should retailers consider ‘Click-and-Collect’?

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ETP Blog Click and Collect

Shopping online or through a mobile phone these days is very common and every day more and more consumers engage with retail brands through these channels during their shopping journey. Having an omni-channel driven retail business is therefore essential.

Omni-channel retail entails a combination of channels used by the shoppers to research, buy and return products. And while there are multiple permutations of these channels that shoppers can choose from, ‘Click-and-collect’ or ‘Buy online, pickup in store’ is one combination that retailers need to take advantage of and here’s why.

To start with, ‘click-and-collect’ is a customer-centric approach which allows convenience of shopping. It makes it easy to browse and purchase products, and gets rid of the waiting time for shipping and delivery of the order.

‘Click-and-collect’ marries the advantages of online/app based shopping with the advantages of the brick-and-mortar stores. It allows a shopper to purchase a product online quickly and conveniently and allows them to touch and feel the product live at the store. For retailers, this translates to getting traffic and conversions on their online sites or mobile apps as well as increasing footfalls in the store.

‘Click-and-collect’ also presents opportunities for retailers to cross-sell and up-sell, thus driving higher sales. According to ICSC, 69 percent of customers who went to pick up their orders in-store ended up buying additional items. Thus, retailers can take advantage of this technique by persuading shoppers to buy more while they are at the store to pick up their order; especially during the shopping seasons or when impulse shoppers visit the store.

Since ‘Click-and-collect’ requires both online/mobile and brick-and-mortar stores to complement each other, it provides an edge for such retailers over those who are purely e-commerce players. Retailers must not miss out on this opportunity which will ensure more share of the customers’ attention time and eventually more share of the consumers’ wallets.

As shoppers these days are savvy and demanding, they expect the best experience. ‘Buy online pickup in-store’ is one way retailers with the right omni-channel retail solutions can provide a seamless and superior cross-channel shopping experience, which customers will cherish and come back for more.