The iQmetrix Meetup is back and we’re buzzing with excitement! With fellow retailers, iQmetrix product experts, sponsors, and other industry leaders sure to be in attendance, this year’s event promises to bring the same valued thought leadership, idea sharing, and networking opportunities as previous iQmetrix events. Hosted once again at the Fairmont Scottsdale Princess in Scottsdale, AZ, the 2018 Meetup is October 21-23, 2018.
The first-ever 2018 RQ Bootcamp came to be when we realized there was a need for an intensive, in-depth RQ training. Held just over a week ago in Scottsdale, Arizona, this event was different from any we’ve hosted before! The content was not conceptual, but rather tactical items attendees could take home and implement immediately. We focused on four key areas of business that come together and allow wireless retailers to facilitate growth.
RQ's functionality is custom-made for your wireless business and RQ Bootcamp is the tailor-made training to make sure you and your team are making the most of your POS!
Industry experts have been forecasting the "End of Retail" since the earliest days of online shopping. Within the last two years alone, this demise has been framed as an inevitability as experts highlight shopping mall closures and the failure of legacy retailers.
The wireless retail market gets more crowded all the time. In 2017, Comcast entered the scene with its new Xfinity Mobile offering, creating ripples across the industry as other major telecommunications companies followed suit. On a smaller scale, hundreds of independent stores, chain expansions, and new carriers opened throughout North America last year. That leads to an obvious question: how can new companies compete in a saturated market with a number of well-established players? There may be no easy answer, but there are a number of strategies that can help upstart wireless companies gain an edge.
In a highly competitive sector like wireless retail, every advantage matters. And while it's important to focus on price points, omnichannel campaigns, and visual merchandising tactics, the customer experience is the primary driver of success. Wireless retailers who excel at making customers feel heard and understood in the sales experience are able to cultivate the largest number of loyal customers. Bringing the consumer into the conversation—and acting on their feedback—will help set you apart from the competition.
Drive through the downtown core and it can feel like there are just as many wireless retailers as there are gas stations or restaurants. The differences between each wireless retailer may not be immediately apparent, as many have similar product lines, stores sizes, staff mix, and target market. As a result, each independent outlet must make a concerted effort to differentiate themselves through the best customer service and technology in order to compete in a crowded market. Here are some of our top predictions for how independent wireless retailers will evolve in 2018:
Your POS system is the central hub for your business and the heartbeat of transactions, so choosing a new POS system can be a very daunting task. It’s intimidating and overwhelming to implement new technology — two reasons why retailers often avoid it at all costs. But what about the risk that comes with having the wrong tools or system in place? That thought should be just as scary. Without the right POS, you run the risk of missing the opportunity to grow your business quickly or at all.
Carriers are expecting the in-store experience to go completely mobile but it’s not as simple as plunking iPads in your store and having people use them. Start by recognizing the in-store hurdles you have today, then identify how mobile solutions can help you combat them and make a positive change to the retail experience for both your consumers and your employees.
With the surge towards online shopping, is the end near for traditional wireless retail space?
Inventory management is not only important for retailers, it’s one of the most important aspects in running a successful wireless retail business. According to SCDigest, U.S. retailers are holding approximately $1.43 in inventory for every $1 of sales they capture.
Do you often see the same sales staff over performing while others remain status quo? Is this because they’re working that much harder or have you really thought about what’s influencing this behavior? Brace yourself for some tough love... there’s a chance you could be contributing to the problem. As an owner or sales manager, it’s your responsibility to understand what motivates the individuals on your team. Have you recently evaluated your motivation tactics or how you set goals with employees that really impacts sales rep performance?
For a retailer, the most important time of day is when your transaction count is highest, right?... Wrong. High traffic periods and potential to turn shoppers into buyers, when they’re at your fingertips, can often be overlooked. Are you converting this potential to loyal customers or letting it walk out of your store?