WELCOME TO The POS REPORT
From Omni-Channel to Frictionless Retail
| June 13, 2017
Massimo Dutti (Inditex Group) was founded in 1985 and was acquired by Inditex in 1991. It now has over 700 stores in more than 69 countries.
Article | April 16, 2020
Due to the latest technology innovations to hit the market, today's retail environment is changing at an unprecedented rate. From robots that can identify shoppers' purchasing habits to immersive virtual reality experiences and the increased popularity in BOPUS, the shopping experience has dramatically evolved in recent years. Consider this: if the average shopper were to hop into a DeLorean time machine, travel back in time to the early 1990s and shop for a sweater; they wouldn't be able to shop online or through a mobile app. Instead, they'd be forced to drive from store to store, aimlessly perusing through aisles and asking sales associates to check store inventory stock via a paper ledger. That shopper would quickly realize just how big of a difference technology makes in the shopping experience.
Most European countries and the United States have been in lockdown since mid-March due to the Covid 19 pandemic, and brick and mortar stores have been closed accordingly. Although online retail continues, it is proving difficult due to falling consumer spending, transport issues and disruptions of the supply chain. A forecast by Indian management consulting company Wazir Advisors, which focuses specifically on the apparel sector, predicts a decline in apparel consumption in 2020 of 45 percent in the EU and 40 percent in the US, which could lead to a reduction by 300 billion US dollars (around 274 billion euros or close to 240 British pounds).
All great businesses are blooming on the edifice of POS, which stands for Point of Sale System. Every inch of your business consistency, management, and profits is subjected wholly and solely to the retail POS system. As we all are aware of its importance in a business and how effectively it tends to expand business empires and profits. In other words, a retail POS system is like a Midas touch to your business; it enhances it and enhances it for good, adorning it with golden profits. The idea of POS software is simple. It excludes every chance of human errors and inconsistencies, holds back your company's loss, and increases the productivity of your checkout counter. This is all it does, and all of these tasks are simple, but they are reassuring business tactics that ensure promising gains and remarkable retail growth.
With supermarkets stripped of food and many other essentials, consumer product companies halted factory runs of niche items such as scented bleach in order to speed up production of more basic merchandise that is in high demand. Brick-and-mortar retailers have warned that hoarding toilet paper, cleaning supplies and food staples was fueling shortages. Amazon.com (AMZN.O), the biggest online retailer, said it sold out of many household staples after orders spiked. As the fast-spreading coronavirus continues to alarm consumers across Europe and the United States, Trump held a phone call on Sunday with 30 executives from grocery stores including Amazon.com’s Whole Foods, Target Corp (TGT.N), Costco Wholesale Corp (COST.O) and Walmart Inc (WMT.N). Trump Administration official Larry Kudlow assured television news viewers that U.S. supply lines were “working pretty well.”
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