Innovative Retail Concept: Technology

In present time, the level of our technology is growing at a faster rate than ever to the point
where what seems to be a “high technology” in the past is now considered to be an “entry-level
technology” nowadays. We can almost see different technologies that are utilized in all sizes of
businesses due to the fact that these technologies are becoming more accessible and affordable.
With that in mind, these technologies can greatly help businesses in operating and managing
their own with more efficiency and effectiveness.

For our Innovative Retail Concept: Technology, our group suggests four things; addition of a
Tablet-based Point-of-Sale System, Cloud-Based Accounting System, and Digital Loyalty
Programs, and to establish local stores as local distributors around their area to provide faster
shipping of products ordered online.

Tablet-based Point-of-Sale System: A tablet-based system, also known as a touchscreen or

iPad POS system, derives its name from the hardware on which it operates. Because this system
is built on hardware that many people are familiar with, training and onboarding are typically
easier than with a legacy POS. The sleek size of the hardware in these systems makes them
convenient. Most tablet-based retail POS systems operate on a cloud-based network system,
allowing you to make changes to your business from anywhere. For example, you could add new
inventory from your couch after business hours. A tablet-based system usually comes with self-
installation and maintenance, allowing you to get up and running on your own time.

This type of POS System is what suits the best for Vanity to provide easier and faster
transactions with its customers and at the same time, it can also provide real-time inventory
checks from time to time to make sure all inventories are good to go.

Cloud-based Accounting System: Cloud accounting makes use of accounting software hosted
on a secure remote server. Accounting systems, reports, and financial documents can be stored
and accessed by small business teams from any computer with an internet connection. The key
benefits provided by this technology are; access your finances anytime from anywhere, get an
up-to-date view of your business, save time with automation, and improve the accuracy of your
accounting.

This technology can greatly help with the accounting aspect of the business to ensure a
streamlined processes of accounting and have a safer and easier control over the business.

Digital Loyalty Programs: With almost every people using smartphones on a daily basis,
businesses must also hop on this trend and learn how they can get more out of the fact that
smartphones are almost considered as an essential gadget used by people. Through digital loyalty
programs, the business can enhance its brand loyalty by making sure that customers will come
back for more as they are rewarded with their purchases. They can also gain valuable insights
into customer behavior customizing offers, rewards, and experiences that they provide to their
customers. And lastly, it can also help with their environment sustainability as it does not use pen
and paper for record-keeping.

These programs suit Vanity Connections in order to retain more repeat customers and ensure that
they can have a higher minimum of walk-ins that they receive daily. Which in turn, can increase
profit and brand awareness.

Establish local stores as local distributors: Although online stores are becoming more popular
than traditional stores, it still has its own advantages that can keep it relevant even in the modern
times. One example is by establishing local stores as local distributors that can offer delivery to
their local area. This can greatly lessen the estimated delivery time and provide faster delivery
for customers who ordered online. This way, local stores can not only accommodate walk-ins,
but can also accommodate online orders that are near their area.

This can help local stores to still have relevancy even if the trend right now is online shopping
wherein customers order online and wait for their orders to come into their front doors.