R e t a i l  T e c h  T a l k

September 2024

A Few Articles from In and Around the Retail Technology Industry

5 Key Areas to Consider when Considering a POS

Article by Canadian Retail Solutions, Sept 5, 2024

You’re at a point where you think you’ve narrowed down the point of sale solution you want to use for your retail business. You’ve combed through the features and the price looks right for your budget…the hard part is almost over! BEFORE you commit and sign on the dotted line, there are 5 key areas you need to pay attention to in order to make sure it’s the right solution for your retail business.

1. Functionality Within the Price You THINK You’re Getting

Always keep in mind that software providers, or service providers of any kind, typically promote their lowest, or mid, price point in their most customer facing marketing channels. While these low prices may seem highly attractive to a retailer, you are often giving up some critical business functions and it may not always seem so obvious as to what exactly you’re giving up. 

Always make sure to ask the questions and find out EXACTLY what comes included in the price point you’re looking at. Get a breakdown of the included features AND a breakdown of the features you won’t be getting but would have to add-on for an additional fee if you want to use it. When you have a clear idea of what the features are that come with an additional cost, you can also make a decision on whether or not those features are important to the future of your business. Knowing this will help determine whether or not the solution ACTUALLY fits within your budget, and you aren’t faced with unexpected additional costs down the road.

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Why Retailers NEED an Online Store in 2024

Article by Canadian Retail Solutions, March 30, 2023

We are ALL consumers, even if we’re retailers. We all shop in various stores for various things, and fit a certain “category” of shopper when held under the microscope of analytical data. With that in mind, what is the first thing you tend to do nowadays when you want to purchase new clothes, or shoes, or any kind of product?

In some cases, we go to the malls. Maybe we make a day of it with our friends and go on a little spending spree. Or maybe we pop into one or two stores that we think may have that product and shop around.

In MOST cases, though, we take that tiny little computer device we carry around with us everywhere (aka: our smartphones) and do a search online. Maybe we’ll go directly to the online stores we shop at regularly and check if they have what we’re looking for. Maybe we go onto Google and type the product into the search bar to see what results are brought up. We may not necessarily purchase it online, but at the very least, we’re comparing prices and getting ourselves informed before making a trip to the mall or store.  

Obviously the online retail space is extremely competitive, with billions of online stores worldwide. However, you can’t win a competition if you aren’t part of the competition, so getting your store online is crucial in order to keep up with your competitors.

If that’s not reason enough, we’ve compiled a list of 7 other reasons why you should consider getting your store online!

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The Ultimate Guide to Social Media Analytics

Article Curated from Later, June 5, 2024

Social media management doesn’t stop at content creation and scheduling. Evaluating and sharing campaign impact is essential to social success. 

Enter social media analytics.

Reporting on performance and making strategic decisions based on social metrics can feel difficult – but it doesn’t have to be!

Here’s everything you need to know about social media analytics — from metrics you need to track and tools you can use to make analysis and reporting simple.

What are Social Media Analytics?

Social media analytics is the practice of gathering and analyzing data from social media platforms to inform business decisions. 

There are two types of social media metrics and performance you can track: 

  • Descriptive metrics, that describe what you did and what happened; and
  • Outcomes, which describe the results of your campaigns.

While there are many different types of metrics, which we’ll outline below, what you’ll want to record and report on depends on your unique campaign. 

Instead of sharing data points, you’ll want to analyze and share the metrics that tell the story of your campaign, your wins, and what needs to improve.

Common Social Media Metrics

Depending on which social media platform you’re using, you can collect a variety of key metrics.

  • Impressions and reach: how many people saw your content and how often they saw it
  • Likes and reactions: what kind of content your audience enjoys;
  • Comments, reposts, and shares: metrics that symbolize brand engagement;
  • Click through rate and link in bio clicks: what content is driving traffic to your website; and
  • Profile visits and new followers: these provide insight into brand awareness.

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