By Mark J. Olson, President and CEO, APG Cash Drawer
Barring some unforeseen event, retailers have lots of reasons to feel positive as we head into the new year. The economy is good, consumer confidence is high and retail is stronger than might be expected, considering the often-repeated predictions of a retail apocalypse.
While the reality is some legacy giant retailers, including the iconic Sears, are struggling, others are flourishing. Successful newcomers typically are low-cost alternatives – the Family Dollar and General Dollar types of stores – that have found their niche in a changing market.
There’s no question online sales have disrupted the traditional retail space, but brick-and-mortar stores will remain viable well into the future. One reason for that is the wealth of technologies now available to retailers large and small, which makes them better able to compete in a tough marketplace.
The IHL Group projected a 4.4 to 4.6% increase in sales for 2018 in brick and mortar with, c-stores and mass merchants leading the charge. With Omnichannel retailing, customers expect a fast check out with items in stock where the option is given to pick up or return items in stores. Retailers who choose to view the store as a local warehouse in operation and policy stand to gain revenue and market share. Looking into 2019, here are some technology trends retailers should be tracking...