Retail businesses have had a turbulent few years, with most forced to rethink their strategies in order to stay afloat. The pandemic, rising inflation, cost pressures, a more demanding consumer, and supply chain problems have compounded issues more recently, but savvy retailers are seeing this as an opportunity.
With uncertainties looking to continue in the sector, making the right technology changes today means forward-thinking retailers will be robust enough for whatever the future brings.
A modern intranet should be at the top of the list, giving retail businesses the agility to meet tomorrow’s challenges head on.
Recent research from Deloitte paints a picture of opportunity for those willing to embrace transformation:
“The future is exciting, with new technology paving the way for a more immersive online experience, new consumer behavior driving both product and business model innovation, and the world’s biggest brands putting aside local competitive pressures to tackle the biggest issues facing our society and planet.”
What a modern intranet can do for your retail business
A modern intranet is your engine room. It should bring your teams together to drive your business forward.
Create a culture where everyone feels connected and included
In retail, frontline employees are the face of the business to customers. Yet they’re all too often left out when it comes to corporate communications and visibility into the company’s mission and goals. Their kudos and achievements largely go unnoticed, except by the few people they work with on a day-to-day basis. They don’t have an opportunity to engage with the big picture – like new initiatives or messages from leadership that you might find in a CEO blog, for example.
A modern intranet can change all of that, by creating a central hub that connects your team.
Empower your staff and increase productivity
With a modern intranet in your employees’ pockets (literally), your frontline workers have everything they need at their fingertips. Your digital workplace should drive efficiencies as staff can quickly and easily find current pricing, returns policies and information on stock levels, as well as the latest trends and promotions, no matter what device they’re using or where they are.
Reduce staff turnover
Underlying the Great Resignation is a desire for a better quality of life. It’s been widely reported that today’s post-pandemic workforce is less interested in a fat paycheck, and more focused on “flexibility, culture, and diversity, equity and inclusion (DEI),” according to Deloitte. Turnover rates in retail are at 64.6% (2021) - up by over 10% from 2017. Investing in a digital workplace can help with retention by fostering a positive sense of community and wellbeing among all staff. Thriving companies have supportive cultures but so many retail frontline staff are left feeling like outsiders.
Improve customer service
It’s not hard to see why empowering your staff and reducing turnover will affect customer service positively. Your intranet should give your teams one single view of truth within your organization, and better knowledge-sharing across the board. This, coupled with a faster flow of information will mean your customers have no reason to switch to a competitor’s brand.
Help you plan for the digital revolution
Future trends for retail are in contactless payments, automation, AI, staff-free stores and selling digital goods, according to Deloitte. With a robust and modern intranet, you can foster a culture of innovation and productivity, utilizing the talent across the whole of your organization. You can connect staff whatever their location, and they can collaborate and share ideas without language barriers using tools like Auto-Translations.
Strengthen your brand
Your staff are the face of your brand, whether that’s in-store, or online. And with the proliferation of social media, there’s no hiding place for brands that aren’t looking after their teams. An investment in a modern intranet will give you a happier, more engaged workforce, with all the tools they need to fulfil the needs of your customers. That speaks volumes about your brand.
Find out how Beezy can supercharge your retail business. Get in touch for a free demo.