Overcoming the Distinct Tweaks of Singapore Luxury Retail

The luxury market in Singapore encounters some very unique problems that are absent in most other industries. High-end small and big retailers are pressured all the time to innovate their offerings in order to satisfy the constantly changing and ever hard-to-satisfy requests of the exclusivity and personalization demanding customers. Besides, luxury items are sometimes subject to the threats of counterfeit which would require the luxury brands to, protect their image and, prove reliability to their customers. Furthermore, digital experience integral with face-to-face service still is debatable, as more and more customers desire that the transitions between online and offline to be as seamless as possible.

Indeed, it is true that the luxury sector and other industries in Singapore share the same problems. All retailers can be greatly influenced by the movements in the consumer market as well as the economic fluctuations. Another issue that arises here is the fact that the fast pace of the technological world not only requires adaptation of the new machines but also ensures the training of the employees which requires a lot of finances. So these problems call for planning and deploying the shrewdest solutions to overcome them.

Using POS Systems to Escape Retail & Luxury Segment Challenges

Alongside sophisticated P.O.S. systems being a game changer, they are also the tools to escape any possible problems. P.O.S. solutions are best used when plans are streamlined, customer experience is improved, and the adaptation to the market is secured. By installing real-time data analytics in luxury, retailers can provide personalized customer service and targeted promotions based on their preferences of high-net-worth individuals. This way they not only increase their revenues from the sales of goods but also gain the customer loyalty and customer satisfaction from the individual shopping they enjoyed.

Basing on the reality, the integration of online and offline data in one single P.O.S. system allows retailers to keep a consistent narrative across all their platforms. Retailers can take advantage of barcode technology to deal with inventory problems no more, thus preventing losses due to overstocks, or customer dissatisfaction because of the shortages of luxury items. In addition, the only payment processing mechanisms and anti-fraud measures that are inbuilt in the P.O.S. systems ensure that retail firms and their clients are both secured from the threats of counterfeit transactions. In addition, the P.O.S. systems are allowing to execute the omni-channel strategy in a full-fledged manner namely, thereby helping SIngapore luxury retailers transcending the competition in a dynamic scenario of the market.

Hacks for Super Easy POS Implementation

Implementing a P.O.S. system in the luxury retail sector is very easy and not costly if it is properly planned and executed. The journey begins by selecting a system that meets the specific business needs and the support for both complex inventory and sophisticated customer relationship management is guaranteed. Continuous staff training is of great importance in maximizing the potential of a P.O.S. system, since it empowers the employees to provide superior service by using the technology. The retailers also need to devote attention to the promotion of a culture of adaptability, which on the one hand requests employees to adopt new tools and methodologies and on the other hand to help the personnel embrace the new ways.

Multiable’s aiM18 POS System: A P.O.S. system made just for luxury retailers

Here are five unique features of the Multiable aiM18 POS system that meet the specific needs of the luxury retail to your perfection:

• Membership Management: Tailored experiences—bring preferred offers to members and issue recognition to loyal customers.

• Price Robot: Optimal Pricing—adopts price strategies that are dynamically auto-tuned to market trends and the purchasing behavior of the consumer.

• Stored Value Card Management: Customer connection—favors the follow-up customer giving incentives and bestows better brand loyalty.

• Encrypted Membership Database: Data Security—applies a security vault that guarantees that the sensitive customer types are only accessed by known and authorized people.

• Real-time Integration of Product Database: Consistency—differentiates itself as all retail channels will be updated with seamless information without any time lag.

Completely Integrated with Major e-Commerce Platforms

Multiable’s ERP systems are easily integrated with the big e-commerce platforms such as Shopify, Amazon, and Lazada. This will foster the cleaner multi-channel retail operation and will allow the luxury retailers in Singapore to expand their reach effectively without sacrificing the quality of service. Also, Multiable is an ASR+ software vendor according to the IRAS guidelines and the firm draws the attention to compliance and the best quality.

What is Multiable POS ?

Multiable POS is a cloud-native POS targeting retail groups with sizable chain stores in Singapore, Malaysia, Hong Kong and China. With over 6,000 customers in the region, Multiable POS gains positive feedbacks from public companies and multinationals across different sectiros, from cosmetics, furniture, fashion, healthcare, pharmaceutics, sportswear and toys etc. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an ERP system in place.