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.
Has your local mall been boarded up yet? Not a store left open, tumbleweeds blowing across the empty, cracked parking lot? Isn’t Amazon forcing all the malls to close down?
Oh... you were just there yesterday and struggled to find a parking spot? We had a feeling that might be the case. See, despite all the talk, the great retail apocalypse just isn’t the doomsday some analysts expected.
Sales is a numbers game. Do you have your best players on the field?
Statflo, an iQmetrix integrated partner, has been working away on this problem for you and they have found the answer in 3 simple steps.
The holiday season is one of the busiest shopping periods of the year and undoubtedly results in a huge boost to retailers' bottom line. It is also often an unpredictable, chaotic, and overwhelming time. As a result, the period right after the holidays can be both a bit of a let-down and a huge relief for retailers.
Bluegrass Cellular has recently launched iQmetrix’s POS + Retail Management Solution, RQ, as part of their Omnichannel initiative. I was lucky enough to sit down with Jason Raymer, Bluegrass Cellular’s Director of Sales, to chat about the key reasons why they chose RQ as their POS for their entire channel.
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:
Effective Inventory Management begins with improving our visibility into actual inventory levels and Virtual Quantity.
Let’s dive into the processes that reveal true in-store sellable quantities through your POS data, and how to better leverage Virtual Quantity in relevant auto ordering and transferring tools.
Neglecting to plan for Black Friday is like going rock climbing without ropes—it makes something that’s already difficult a whole lot harder. Black Friday is one of the most intense shopping days of the year, and the outcome for retailers can be spectacular or stressful depending on how well they're prepared. Set yourself up for success this holiday season with these seven simple steps.
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.
This holiday season you're going to have increased traffic. Are you prepared to maximize your sales with this influx of store traffic? Let’s say 30% of visitors to your wireless store make a purchase. That means that you have the chance to influence 70% of your customers to buy! While the exact percentage may vary in each of your stores, the key point is this: you need to take advantage of the opportunity to sell more in your stores. To be able to take full advantage of it, you will first you need to track it.
In a constantly changing and fast-paced industry like wireless, the saying 'time is money' has never rung more true. Watch this video blog as we discuss the many reasons why wireless dealers are saving time and money by using carrier integrations.
Performance metrics already exist and are being utilized to motivate employees, but what is the next step?
Employee retention is a long-standing and a well-documented challenge in the retail industry. Turnover rates have been exceptionally high for years, and there are theories abound as to why. Training deficiencies, low employee comradery, and antiquated hiring practices are just a few potential causes that have been examined in years past.
Are you a Service & Repair owner in the wireless industry who is thinking of growing your business? Wondering what you need to think about to take that next step and prepare for the leap? One word needs to come to mind, and that is scale. You need to ensure you are scaling everything from top to bottom before you plan on growing.