Problem Statement

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Traditional price-discovery methods often lack the agility and accuracy required to meet these demands, resulting in missed opportunities and potential revenue loss. Retailers need a solution that empowers them to discover, adjust, and optimize prices with precision.

Solutions

  • Scanflow is integrated with the store's inventory management and point-of-sale (POS) systems to ensure real-time data exchange. This includes product details, pricing, sales data, and inventory levels.
  • As products are received or sold, store workers or customers can use smart devices to scan items.
  • Scanflow captures data from products and compares the scanned barcode with the database to discover the current price. If pricing needs to be adjusted, the system can prompt store workers to make the change. It can also be configured to compare product prices with those of competitors.
  • When inventory levels reach a specified threshold, the system can automatically generate replenishment orders or alerts for the purchasing team.
  • The data can be used to optimize inventory levels, ensuring products are available when needed while avoiding overstocking or understocking.
  • Equipping store workers with smart devices can enable them to quickly check prices, inventory levels, and product details while assisting customers.
  • Retailers can use the data to engage with customers, providing price transparency, personalized offers, and inventory availability information.

Business benefit

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99%

Improved data accuracy reducing manual errors

50%

Enhanced in store efficiency

25%

Efficient inventory and stock management

70%

Increase in customer satisfaction

Integration

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  • Scanflow integrated with POS systems significantly helps retailers to reduce errors and optimize their pricing strategies for sustained growth.
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Success Stories

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Scanflow: The All-in-One Data Capture Solution for E-commerce Businesses

Are you a leader in the world of online retail, facing a surge in orders? Does the burden of fulfill...

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Jan 18, 2024

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Enhancing Retail Operations: Scanflow Data Capture for Inventory Management and Point of Sale

In the dynamic world of retail, where customer demands are ever-evolving, staying ahead requires a s...

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Retail Indoor Navigation

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FAQ’s

Solution Six

Why is price discovery important for the retail industry?

Price discovery is crucial in the retail industry because it enhances transparency, builds trust with customers, and ensures that they can compare prices effectively. This transparency can lead to higher customer satisfaction and loyalty.

How can retailers improve price discovery for their customers?

Retailers can enhance price discovery by implementing the following strategies: 

 

Clear and accurate pricing labels on products, Easy-to-navigate websites or apps with price information, Real-time price updates, Mobile apps or in-store technologies that help customers find the best prices. 

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