As the year-end shopping season approaches, global consumers are gearing up for a final surge of enthusiastic buying in 2023. Retailers are actively preparing to handle the anticipated influx of year-end orders.

According to a retail report, global year-end sales in 2023 are projected to reach a staggering $1.3 trillion, with online consumption accounting for 20% of the total. Additionally, a survey reveals that 71% of Hong Kong consumers make at least one online purchase per month on average. These statistics highlight the immense size of the year-end retail market and the growing appeal of online platforms to modern consumers. Physical retailers need to integrate online and offline digital services to enhance the omni-channel shopping experience and create innovative consumption models. This will enable them to tap into the year-end traffic surge and secure a share of the market.

New retail model : integrating online and physical stores
Cloud-based POS solution stores all information and data in the cloud, allowing enterprises to access it anytime, anywhere from any device connected to the Internet. eRun’s cloud POS even seamlessly connects online and offline sales channels of retail stores in real time. This integration reduces operational burdens during the year-end peak period, and significantly improves operational efficiency. The one-stop shopping experience also attracts more potential customers online, creating favorable conditions for year-end sales growth.

Use eRun’s three engines for a powerful year-end promotion strategy
To create a robust year-end promotion strategy, retail companies can utilize the three major engines integrated with eRun’s Cloud POS. The promotion engine facilitates customer acquisition, the loyalty engine enhances customer retention, and the coupon engine generates incentives for repeat purchases. By presetting and applying discount rules across online and offline channels, an all-encompassing one-stop omni-channel promotion can be achieved, resulting in the strongest year-end promotion strategy.

Ensure smooth year-end operations with cloud inventory system
To excel in year-end operations, retail companies must prioritize digital inventory management. By leveraging mobile inventory management through QR code scanning, businesses can swiftly access product information, including pricing and available inventory. Cloud technology enables real-time transmission of inventory transactions across stores, warehouses, and offices, ensuring synchronized data for purchases, deliveries, and replenishments. This minimizes inventory discrepancies and ensures smooth operations and profitability during busy periods.

Leveraging cloud reports, retail merchants can gain valuable insights into consumer needs and preferences. By continuously innovating and adjusting marketing strategies based on these insights, retailers can offer more accurate products and services. This strategic approach allows retailers to stand out from the fierce year-end promotional competition and effectively prepare for the upcoming shopping season.