Modern history’s greatest health crisis, COVID-19, has had a significant impact on Singapore’s retail industry. Retail and F&B sales in Singapore fell by about SG$4 billion (US$2.95 billion) in total during the Circuit Breaker (CB) period, which was around 40 per cent of the 2020 full-year decline in the total retail and F&B sales of SG$10 billion (US$7.38 billion), as per government statistics.
The Retail Advantage Playbook is an info-bite, meant for business owners in the retail and e-tail space.
The HR guy. The only professional who is consistently burning the midnight oil, trying to make ends meet at your workplace. And we don’t blame you for it. In fact, we admire you for your work.
The point-of-sale system should have been the endgame for retail. It has access to complete data on sales, inventory, customer etc. It can even tell you ‘what’ was bought, by ‘whom’.
One of India’s retail pioneers, Future Group wanted to chalk a comprehensive program to improve footfalls and drive sales. The company chose Qwikcilver’s proven and proprietary Gift Card processing suite of products. What follows is a chronicling of our path to success.
A gift card is fundamentally different from a gift voucher. A gift voucher is a prepaid currency, one another medium of transaction. But a gift card carves a new revenue stream. It provides another reason for the shopper to buy.
Say you sell two variants of a product, at two different price points. The variants are from two different brands, A and B. Both are similar, except for the choice of colours. The choice of colours available at Brand A is different from, but also compliments, that of Brand B. A shopper walks in. He is seen moving along the aisles that contain both the brands.
Shopping is a habit, as basic as the need to bathe. But offer your customers cold shower, and they will stay away from the water, forever. On the other hand, hit them with vapours of personalized promotions and they will flock your store.
The Qwikcilver brand of warriors. We call them the QwikHeroes. QwikHeroes are our products that are bestowed with powers of specific kind.