Technology trends for independent retailers

Here, Dax Dasilva, CEO of Lightspeed, runs down the top technology trends for retailers to look out for in 2017.

One of the main assets independent businesses possess is their ability to stay nimble and adapt to change with ease. Technology works to their advantage, as they can adopt the latest tools to help them stay attractive to customers and competitive in the market. However, knowing which solutions are right for your business and choosing the right time to take the plunge represent a challenge for independent retailers.

Here are my top three tech trends that you should be aware of to help your business succeed whilst saving time and money:

Cloud-based platforms

Part of retailers’ ability to stay nimble means they can no longer be desk-bound when managing their business. This applies especially to retailers that have multiple stores or those who offer both online and in-store products and services. As such, it is crucial for retailers to adopt cloud-based business platforms that allow them to access the information they need anytime and from anywhere.

Data analytics

It is hard to overstate the importance of data for businesses of all sizes. For independent retailers in particular, data analytics can help streamline day-to-day processes such as stock ordering and payment methods. With personalisation now being part of customers’ expectations, having the right data to tailor your services to each client is crucial. Our customers have seen that when you get customer communications right, it can convert into higher and more frequent sales.

Omnichannel

It would be easy to think that ecommerce is taking over in-store spending, however our retail customers have learnt that customers still crave the ability to see and interact with products in person. Omnichannel means that you can manage stock and your customer base whether it’s in store on your website or at a pop up. It integrates the two into one platform, so you can give your customers a seamless experience.

Using the right technology can make it easier for companies to spend more time on what they love – their business.

Dax Dasilva is CEO of Lightspeed

Further reading on technology trends

Related Topics

Business tech
Retail

Leave a comment