Retail Technology Boom Pitfalls
We are currently in an age where technology is advancing lightening fast, making it hard for even the most invested users to keep up. This new atmosphere causes some innate pitfalls retailers must keep an eye out for.
Newbies Remorse
When a new trend crops up in technology, the market place will become cluttered with options and fly-by-night companies trying to cash in on the hot topic. New companies have their instability issues; companies that are venturing into new industries or products will also have instability issues.
These are the kinds of situations where you must be increasingly conservative and get as many facts as possible. Talk to a few of their existing customers and really get a feel for what to expect: customer service, hidden fees, capabilities, etc.
Jack of All Trades
These are the kinds of situations where you must be increasingly conservative and get as many facts as possible. Talk to a few of their existing customers and really get a feel for what to expect: customer service, hidden fees, capabilities, etc.
Jack of All Trades
While a very knowledgeable, expert software developer or systems engineer may be able to "create anything", that doesn't mean they should. Proper research and development, industry knowledge and experience are very important parts to evolving any product and ensuring ultimate functionality.
Many companies that seem to be a "Jack of all trades" end up being a diluted version of each specialty with one or two strong suits.
Point of Sale can be broken down into more than just ringing up sales and should include minimally inventory control and reporting features.
Don't allow yourself to be on a diluted or watered down product just because the company is a knock-out in another industry.
Minimal Effort Junkies
Many companies that seem to be a "Jack of all trades" end up being a diluted version of each specialty with one or two strong suits.
Point of Sale can be broken down into more than just ringing up sales and should include minimally inventory control and reporting features.
Don't allow yourself to be on a diluted or watered down product just because the company is a knock-out in another industry.
Minimal Effort Junkies
Technology and software are important RESOURCES. If you start any upgrade or technology search from the perspective of getting a tool that will do as much as possible for you and your company’s expansion, you will strip off much of the anxiety or hesitance. Thus, opening the door to thoroughly investigating your resources and setting yourself up for maximum payoff.
Save Now, Pay Later
I could say "you get what you pay for" but we all know that.
We will forever hunt for the best bargain and the maximum bang for our buck.
Unfortunately, certain technology developers claim to do it all for pocket change. When push comes to shove, it'll be YOU that suffers in the end.
If something is too good to be true, it probably is.
Square Peg, Round Hole
Point of Sale is typically designed for a particular kind of retailer; this is determined by sales volume, item count, number of locations and business structure.
While it is tempting to get in on a particular feature or fit within a tight budget you must ensure you are not essentially shoving your size 12 company into a size 8 shoe. It'll hurt and you'll have no room to move around... much less expand.
But IT'S SO SHINY!
Looks aren't everything. While I sincerely understand "the clothes make the man", that concept only runs so deep. Make sure you are getting an interface that fits your needs and is functional, but don't miss the point of the software just because it's easy on the eyes.
One Step Retail Solutions is a leading retail technology consultancy and value added reseller for multiple industry giants. We have been in business for over 28 years and have helped thousands of retailers expand their brand through proper technology resources. Our products include cloud based, mobile options and scalable systems.
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