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According to research published in Forbes Magazine, shrinkage costs American retailers $60 billion annually. Surprisingly, the U.S. Retail Fraud Survey noted that employee theft is the single biggest cause of shrinkage for retailers. Liquor stores can be especially tempting, because they carry high-value inventory and if they sell Lotto, there’s plenty of cash on hand.…
The Internet of Things (IoT) connects physical devices—thermostats, smartphones, RFID tags, etc.—to the digital world. The Internet of Things is constantly growing as more electronics are added, and the data gathered from these devices gives retailers a detailed look into who their customers are and what they want. These analytics are especially important for retailers…
Liquor store retailers face a unique set of challenges. Your inventory is inherently complicated with the need to track thousands of bottles and cans of alcohol from around the world. And running a sale can mean several different types of promotions all running at the same time. Moreover, you need to stay in compliance with…
It’s a new year, which means new goals and new business challenges. As you work on plans for the year, you are probably asking the question, “What could possibly go wrong?” The answer, unfortunately, is a lot of things — but most of them are preventable with the right technology, processes, and practices. Here are…
At one point or another, busy retail store owners have wished they could clone themselves or grow a second pair of hands to get everything done. NCC has been around long enough to tell you that splitting yourself in half is a bad idea, but a well-equipped point of sale (POS) system can help lighten…
Now that we are in the full swing of 2018, what’s on your technology to-do list for the year ahead? Perhaps it’s time to upgrade your point of sale platform to meet customer expectations, remain competitive in a rapidly changing environment and build your profit margin. Keep these three things in mind as you compare…
It’s time to face the facts: The evolution of retail is here. With more and more shoppers choosing e-commerce and m-commerce options to make their purchases, it’s time to make some changes to accommodate the new ways your customers are shopping. The rise of e-commerce and m-commerce isn’t a sign that retail is dying. Instead,…
In the course of day-to-day business, it’s easy to get focused on tasks at hand and lose sight of the big picture. Savvy retailers, however, pause to take stock of the state of retail and keep an eye on industry trends to ensure their operations are best positioned for success. Here are four can’t-miss insights…
Conscious consumers are ushering in a new era of retail, driven by a fundamental power shift as the Internet and technology enable greater access to the behind-the-scenes goings-on at brands both large and small. Even more telling, new research from YouGov and Infor reveals that millennials in particular care greatly about corporate values and have…
There’s a lot of talk these days about how to improve the brick-and-mortar experience to attract customers and drive sales. Much of it focuses on future-forward innovations like augmented reality, magic mirrors, robots and more. And while that’s all well and good, there’s a smarter, more immediate way to serve your customers today: self-service stations.…