If you own or manage a warehouse or distribution center, you may have had cause to pause over the past few months when you’ve read headlines that have been focused on the number of retail closures slated for 2019. While it’s true U.S. retailers have already announced nearly 5,000 stores will close since the start of the year, it doesn’t necessarily mean there will be an inevitable crisis in warehouse operations. The changing retail landscape can lead to higher sales if we dig a little deeper.
Retail Store Market Much Larger than Number of Stores Closing
There were close to 3.8 million retail establishments in the US in 2016 (including restaurants and bars). The announcement of 5,000 store closures is significant for the affected brands and the store employees; however, in terms of the overall industry, it doesn’t amount to a major hit.
Several store closings are linked to companies declaring bankruptcy, such as Charlotte Russe and PaylessShoeSource. J.C. Penney has announced that it’s downsizing by closing 27 stores in 2019.
Scanco Warehouse for Acumatica is a comprehensive solution that will streamline your warehouse operations and increase productivity. Contact us online or call (330) 645-9959 to arrange your consultation with a Scanco Solutions Expert.
New Retailers Are Taking Over Available Floor Space
As some retail stores are closing their doors, the space is being rented by new, up-and-coming retailers. They may not be commanding the same amount of space as some of the big-box type stores; however, these smaller retailers are moving in, setting up shop, and they represent new sources of business.
Unlike a large corporation that is buying in bulk through its head office, a smaller business may be more approachable and flexible about establishing relationships with new suppliers for items to sell, particularly if they can be delivered quickly and efficiently.
Services Are Moving Into Shopping Centers and Strip Malls
Retailers aren’t the only types of businesses that are signing commercial leases to set up in spaces situated in shopping centers and strip malls. The idea of going to the mall only to shop is no longer accurate. The mall is now a place where consumers can buy items they need, of course, but they can also access several services.
When thinking about a mall and its occupants, don’t overlook other tenants such as health clubs, massage therapists, acupuncturists, dental offices, and chiropractic offices. All these types of businesses need various supplies and products, which creates potential sales opportunities for your team.
Online Shopping Still Very Popular With Consumers
Online shopping shows no signs of slowing down with buyers. Consumers are still using their desktop computers, laptops, and handheld devices to browse online, looking for the best combination of good quality and reasonable prices. Shopping online for all types of goods is no longer considered unusual, and the Internet gives consumers the advantage of having even more options than they ever had at their disposal before.
With no geographic limits for online shoppers, you can ship directly to the customer wherever they happen to be located.
Let Scanco for Acumatica Be Part of Your Warehouse Operations Plan to Increase Sales
One thing you can count on in business is that the players will change from time to time. While their names may change, you do know that you need to establish and maintain a reputation for running your warehouse operations in an efficient manner. Scanco for Acumatica is a tool with an impressive list of features than can help you get there.
From receiving to order fulfillment, physical counts and bin management and more, Scanco for Acumatica has you covered. To find out more about how this option can help grow your business, contact us online or calling (330) 645-9959 to arrange your consultation with a Scanco Solutions Expert now.