This internet-driven era, with its emphasis on accessibility and convenience, is perhaps the most challenging of times for brick-and-mortar retailers struggling to keep their doors open to attract foot traffic while competing against the web traffic of online shoppers. Regardless of whether it’s the physical shopper or an online one, at the heart of either buying experience is the absolute necessity for retailers to maintain accurate inventory control.
As an article in RFID Journal points out, “the reason online retailers have flourished so much throughout the years is that they have been able to cater to increasingly demanding consumers who enjoy the convenience of online shopping but want their products quicker than ever before.”
There is a workaround for brick-and-mortar retailer survival – embracing an omnichannel approach to sales that gives customers the option to choose between a physical shopping experience and an online one.
“The implementation of an omnichannel process gives retailers the opportunity to generate footfall into their brick-and-mortar stores, that may have previously been declining due to the online push of recent years. Most, if not all, retailers understand that omnichannel is fundamentally about delivering items to consumers across whichever channels the customer prefers, resulting in retailers building a deeper level of loyalty with consumers as they can provide a more rounded service.”
That approach relies heavily on inventory accuracy. No matter where an item may land along the supply chain, if it’s not there for the consumer because of a miscount, the strategy for building customer loyalty will tumble into dust like a tower of crumbling bricks.
Inventory management is crucial for brick-and-mortar survival. As we say at Blue Chip, “if you want an unrelenting commitment to delivering the best, most accurate results, count on us to count it right.”