The Importance of Location Attributes
From physical design to demographics, location attributes determine the parameters of any store strategy. Yet anyone who has worked in retail can tell you how much of a struggle it is to maintain and update this information across massive and expensive enterprise solutions.
The consequences often snowball. Suddenly, you can’t ensure that all your stores are modernized, because your payroll, HR, scheduling and merchandising solutions are giving you conflicting information about each one. When you have multiple ways of tracking this information with multiple users, it’s hard to cohesively maintain data integrity.
Put simply, inaccurate and inconsistent information about your stores kills your ROI. Dedicating resources to efficiently tracking store attributes in one system will deliver smarter and more effective store strategies in the long run. Here’s how.
Know What To Track and Where
These are several real-life examples of how tracking location attributes impact strategies. For example, an IT project of changing internet providers across an entire district of stores requires immediately identifying which stores are self-owned or rented out. If you run a C-Store, knowing which locations have delis and which ones don’t will help you deliver better associate skill training strategies.
In our experience, most retailers are left to create additional exhaustive processes to overcome pitfalls of inconsistent data held across multiple apps and departments. Instead of having a consistent source of information, you’re increasing your staffing per enterprise solution to handle support calls, managing more spreadsheets, and losing buy-in from everyone across different departments of your organization. No one is happy – and everyone gets skeptical.
A better approach is to create one system that engages everyone within your organization.
Lead a Collaborative and Mobile-First Approach
Effective locations management doesn’t begin and end with corporate stakeholders, nor does it with field teams. It elicits accountability and participation from both sets of users together to set approval flows for updating store data, as well as ensuring its accuracy and consistency.
Both have to work together to ensure that location attributes updates are always accurate and relevant. Prioritizing mobility will also make sure that it can be easily updated and accessed. Furthermore, a good locations management strategy can ensure that you can still get the most of your enterprise apps as well.
Deliver Customer Benefits via Integrated Capabilities
To make locations management work, you have to guarantee that the information you track integrates with any back office platforms, including your corporate website. It’s one thing to ensure consistency across your back office systems – and it’s of even greater importance to guarantee a single version of the truth to your customers. This way, if they enter a store expecting a service they scheduled ahead of time, they receive it on time.
Consolidating location attributes in one solution can unlock your potential to drive greater ROI across your entire retail ecosystem. If you’re interested in learning more about the benefits of strong location data management, reach out to a Floresight representative today for more information.