Ever-changing; it’s the best descriptor for the wireless industry. We’ve said it once, and we’ll say it again—with wireless being a place of constant betterment, innovation, and advancement, it can be tough to know what the latest trends are and even tougher to decide which are worth following and which will be forgotten in the next day, month, week, or year.
When it comes to implementing new technologies or processes, time is money, and both are precious. As a retailer, you want to be investing your human and financial capital into systems that are guaranteed to work, either streamlining existing processes, creating increased efficiency, or boosting revenue.
Your day-to-day is action-packed, so evaluating and understanding every little new tech craze or the latest thing in retail operations can be something you just don’t have time for. Well, you’re in luck! We’ve broken down just a few of the latest and greatest developments in the world of wireless to help you optimize your cell phone store or repair shop.
The Plateau of the Smart Phone
For the past few years, phone manufacturers were able to offer only incremental improvements to devices. Despite big promises of wearables, virtual reality devices, or augmented reality programs, there still hasn’t been a revolutionary change that would disrupt the market. Customers can still—without any fear of missing out—use older phone models equipped with the newest OS updates. It is the same experience for a smaller cost. It’s the best alternative when the cost of a new phone is just too high. Explore what new entrants to the market could mean for your cell phone store, and how you can stay ahead of the curve by employing the latest retail trends.
The Rise of Repair Tech
The market for smart cell phone devices has lead to a shift in the consumer behavior. Shoppers would rather spend $50-100 on protecting or repairing their device than spending $1,000 on a new device. This has lead to the rise of repair centers in cell phone retail stores as well as standalone repair stores. Regardless of how they set up their repair shop, retailers have been creating clean, professional, well-designed stores with the ability to book appointments for service. When customers arrive, they are greeted with a friendly conversation while their beloved cell phone is repaired at a reasonable price. Even better is when these repair shops offer accessories, like cases and screen protectors, that keep the “like-new” device in tip-top shape. See what you can do to diversify your repair store and learn to grow and scale as the market expands.
Offering Virtual Inventory
In past blogs, we have disputed the fact that physical retail is dying. Of course, we are among the first to agree that a shift is happening in traditional retail. That being said, consumers still want to go through some (albeit, not all) of the experiences that come with going into a physical store. One wireless trend that satisfies the need for a brick and mortar experience while going above and beyond the in-store experience is drop shipping or fulfillment services. This allows customers to order more obscure items through you while in-store, even if you don’t have that item physically in your storage room; here is where the virtual inventory comes in. Customers are given the option to have items shipped to the back to the store for pick up or director to their homes. Retailers create a touch point to reinforce a positive relationship and all while saving the sales. As always, physical context, technology, and—most importantly—a human element are all part of that experience. Read more on how you can balance physical and virtual inventory or how drop shipping can boost revenues in new ways.
Keep Customers Coming Back
With so many ways to shop, some consumers view the in-store experience as a chore. This perception isn’t hindered when your store lacks pizazz. Now, I’m not talking about throwing up some balloons and hiring some sign spinners to draw customers in; it’s more than that. If you were a shopper, would you want to spend time in your store? When you've got the right products, lock down success by ensuring you're offering a complete retail experience that is both enticing and exciting. This will keep customers will coming back for more—time and again.
These are only a few of the latest trends taking over the wireless, repair, and retail spaces. But things change fast! Make sure you stay in-the-know on what's new in these industries by subscribing to the iQmetrix blog.
Shutterstock / Dustin Petkovic