As retailers begin to re-open stores during the COVID-19 pandemic, every aspect of brick-and-mortar retail will need to be re-examined. By knowing what to expect, you can jump into #RetailRecovery assured that your stores, and profits, are protected.
EXPECTATION: Operational and training issues will increase.
- Prolonged operating changes may alter employee register use.
- Shipments into stores stopped or changed dramatically.
- Returns-to-Vendor and reverse logistics disrupted.
- Increase in BORIS transactions.
- Other issues that existed before will continue.
Not all exceptions are intentional fraud; sometimes they are operational or training issues that can be resolved.
- Now, during #RetailRecovery, is the right time to address and curtail these issues before “normal” resumes.
Once “normal” resumes, unresolved store, ecommerce, and inventory issues will be harder to root out. For example:
- New processes can have unforseen outcomes when put into operation.
- The checkout experience is critically important as consumers shop again.
HOW CAN I GENERATE REVENUE?
- Improved efficiency at checkout will produce a better customer experience.
WHAT CAN I CHANGE?
- Separate operational and training issues from true exceptions in order to focus on the critical.
- Look for new patterns in old issues.
- Analyze new process outcomes for profit leakage and address before losses increase.
- Create targeted audits for new processes to identify compliance problems.
- Provide store management timely data to address training issues.
WHO CAN HELP?
When you re-open, partnerships matter.
- Vendors have a broader view of the marketplace—ask for insights.
- Plan your next moves with financially strong partners, like Appriss, who have previously managed downturns.
- Look for partners with the stability of a large, diverse client base.
- We’re here to help if you want to talk about operational issues.