With little growth forecast for 2009 we can expect tougher times on the high street. So what is an independent retailer to do? One approach is to batten down the hatches and hope the cold winds of recession will pass over keeping fingers crossed for survival. An alternative, more proactive approach is to use this time to make the business stronger, more efficient and better equipped to deal with the changing competitive climate in the years to come.

One way that proactive, forward thinking retailers can improve their business efficiency is by using technology. The reward for those who get it right is a more profitable business when the economy turns upwards again.

Technology is one area of independent retail that has taken big leaps forward in recent years. Computers are now cheaper than ever, and mind-blowingly powerful. Retail software has moved far beyond EpoS (Electronic Point of Sale) into comprehensive tools to help manage a modern retail business, and many have point and click screens making them easy to use even for computer novices.

So, what can a modern-day fashion retailer do with current retail technology to make the business stronger? Well in tough times the opportunity is to go on an efficiency drive. The best way to make the business more efficient is to start at the areas of biggest expenditures and work down. And of course the big 3 costs are; Staff, Property and Stock. All three can be improved with the right retail software.

This article on how retailers can survive the downturn may help present a couple of ideas.

Here is what a couple of independent retailers have siad recently:

“It’s particularly important to have a retail stock control system in the current downturn. Now we have visibility of exactly which products and suppliers are really earning us money. Because the epos software is so easy we now order smaller amounts of the top earning products more frequently, allowing us to spend less on stock, and change more quickly. Less chance of being left with stock that doesn’t sell.” Michael, Passion Fish.

Connect multichannel retail software has helped our business in so many ways. We now easily keep track of stock to making better buying choices.  Our website has only been live for a few weeks but we started receiving orders straight away. With the new website its so easy!
Martin, Discount Baby Centre