Since the end of this year’s EuroCIS 2016 conference in Dusseldorf, I’ve been reflecting on everything I saw and heard from other exhibitors and from customers.
The main theme of conference was the “customer experience”. More than 10,000 exhibitors showcased their latest innovations focussed on helping retailers enhance their customer satisfaction levels. The technology, whether mobile apps, digital solutions, augmented reality or omnichannel software is all designed to deliver customer an exceptional customer journey.
Walking around the fair, I was surprised and impressed by all innovations that professionals across our industry are deploying to transform the retail sector and rise to the challenge or the ever-evolving consumer behaviour. These changing behaviour of consumers is at the heart of all the challenges facing retailers today. Retailers spend huge sums implementing digital signage, mobile POS, beacons, omnichannel apps and so on to shape new concept stores where customers feel comfortable and receive the best possible experience. This leads to changes in staff roles, cashiers become sales assistants, trying to build a relationship with the consumers and recognize their loyalty.
All these innovations are changing the face of retail. But with so many opportunities, retailers must prioritize their investments to deliver the business results they need. With the continuing need to focus the store on strong customer experience, it is more important than ever for retailers to make smarter decisions around how and where their staff are deployed. Sales staff must be released from non-value-added tasks to focus 100% on customers.
It almost goes without saying that cash handling is not a high value task. Necessary and important certainly, but in the context of the customer experience not high value. It may be true that the processes around managing the cash within stores are not as sexy or headline grabbing as mobile apps or omnichannel solutions, they are not as fancy as virtual dressing room or interactive mirrors. They can, however, be costly, time-consuming and a source of potential shrinkage for all retailers. But they don’t have to be.
It was really interesting to listen to retailers’ comments on the Glory booth and to see that cash automation is starting to be considered by most companies as a significant opportunity to increase their profitability. By optimising the cash chain retailers are seeing faster movement of cash through their business, lower costs, improved security and staff efficiency.
It’s really exciting to see that Glory’s solutions are addressing these fundamental retail business challenges and enabling progress around the customer experience imperative.
Effective cash management may not generate headlines but it certainly delivers the goods!