“By switching to leasing their equipment, retailers will have a much lower-cost solution”
The full impact of the Covid-19 virus and the required measures taken in order to contain it significantly damaged the retail sector.
Just how economically harrowing the effects were for retailers was anticipated here in a report by Forbes dated 28 February 2020. While it predicted a gloomy picture, the opportunity is now ripe for suppliers to recommend asset leasing options to help re-empower this once-thriving sector that has been at the heart of the UK economy.
“Smart retailers, and brands equipped with the right technology, strong grasp on pricing and product and ability to shift gears quickly to accommodate these expectations may feel a softer blow,” advises Greg Petro, an entrepreneur and expert in retail and economics.
By switching to leasing their equipment, retailers will have a much lower-cost solution, enabling them to get back on their feet financially sooner with the added benefits of having access to state-of-the-art equipment and the ability to be flexible.
Preparing for the future
GRENKE currently leases the latest EPOS technology, warehouse equipment and security systems specifically designed for the retail sector.
What COVID 19 has accelerated is a new customer retail experience. Amazon have launched Amazon Go, where customers walk in, collect their purchases from the shelves and walk out being billed automatically. Is this the new future for POS? It certainly assists a safer shopping experience.
While closures forced customers to shop online, one assurance that tangible retail will always have customers is the notable differences observed between customer satisfaction with online and direct purchases.
According to Invesprco, 30 per cent of purchases made online are returned, whereas only 8 per cent with store bought items. With damaged goods sent (20% of cases) and wrong items sent (23%), perhaps there will always be a need for the high street?
After a lengthy period of isolation, leaving the house is set to be the new staying in, and with new opportunities across POS and retail technology, could leasing solutions support the resilient UK retail sector?