Top Pet Shop Retail Challenges that Digitalization Can Solve
This year has new challenges for pet store owners. Fortunately, digital solutions can solve these pet shop retail challenges.
The year 2023 is proving to be an exciting, yet demanding year for the pet industry. The global pandemic has caused people to spend more time with their pets, and therefore spend more money and effort on pet care. For example, in the United States, pet food has been the highest-selling product category in the pet market and maintained the top spot in 2022. Pet ownership and pet care will only continue to gain traction. And while this sounds like good news for pet shop retail owners, it also means the rise of new, unique challenges.
Pet Shop Retail Challenges that Digitalization Can Solve
To operate in the modern world, pet shops and pet retailers need to embrace modern solutions. This will help enhance operations and face specific obstacles, which will lead to business growth and reputation. Here are the most common pet shop retail challenges that digitalization can solve:
Increasing order and delivery demands
As pet shop retail continues to become more prevalent in the modern digital world, businesses must take into account the increasing demand from delivery customers. With more customers turning to online shopping, pet shop retail needs to innovate in order to solve the challenge of reliably and efficiently delivering products. Digitalization can be a great tool to help pet shops keep up with these new demands, as it can provide an easier way for customers to stay up to date on their orders and make sure that everything is on time and secure.
The automation of orders, tracking supply chain movement, implementing digital labels, and inventory tools, all of can help pet stores keep up with the increasing demands of the customers.
Additionally, digital solutions offer pet shop retailers an opportunity to analyze customer data and improve existing delivery services. They can also diversify into more delivery options in order to maintain an edge over other stores.
Competition from online retailers
One of the biggest challenges for pet shop retail stores is competition from online retailers. Many pet store owners are seeing their revenues threatened by the influx of cheaper products offered by various online retailers like Amazon. Digitalization offers the tools to fight back against the competition and stay successful in a competitive market.
By embracing digital solutions, pet store owners can create a comprehensive online presence through a website and even social media channels. Retailers will also be able to offer competitively priced pet supplies to their customers.
Digitalization also enables pet store owners to collect customer data, which can provide valuable insights on how to better serve and market to their customers. By taking advantage of digitalization, pet store owners can better compete in a crowded online retail space.
The need for 24/7 shopping
Modern customers are now used to having all their buying needs met as quickly and conveniently as possible. Pet shops and pet store retailers must keep up with the demand for 24/7 shopping and develop a cost-effective solution for this service.
The digitalization of pet shops and pet store retail offers many advantages in meeting the growing need for 24/7 shopping. Online shopping provides customers with the ability to shop around the clock and allows store owners to reach a larger audience. Furthermore, customers have the option of making purchases quickly and easily with secure payment systems. Store owners can gain insights into customer preferences through data collected from online transactions.
Replenishment and inventory demands
Another big challenge for pet shop retail is the increasing replenishment and inventory demands. Pet shop owners must maintain detailed records of the specific types, sizes, and colors of pet supplies and accessories that their customers are searching for. Measuring inventory and predicting customer demand is also a difficult task, especially with so many different types of pet supplies and customer preferences.
Modern tools like digital labels or RFID tags can provide pet shop retail owners with the tools to accurately track replenishment needs, manage their inventory, and better predict customer demand. Real-time analytics, data gathering, and sales trend predictions also provide pet shop owners with the insights they need. This will lead to a better understanding of supply and demand. Meanwhile, integrating AI-based technologies into a retail platform can help automate processes, so pet shop owners can save time and resources while still being able to meet their customers' needs.
Omnichannel retailing is an invaluable way for pet shop retailers to maximize customer engagement and grow their business. Through a combination of digital and physical retail channels, pet shop retailers can achieve a unique blend of continuity and convenience, providing customers with a one-stop shopping experience. With omnichannel retailing, customers can assess products online, and purchase items in-store or online, depending on their preference.
Pet shops can also better anticipate customer needs by leveraging the real-time data associated with online purchasing. By embracing the omnichannel retail experience, pet shop retailers can reduce costs, increase sales, and create a superior shopping experience.
Implementing Digital Labels in a Pet Store Retail
Digital labels can be the first step toward a pet retail store's digitalization. This solution can be a versatile and high-powered addition to any pet store operation. At a glance, these labels can be used to showcase various pets and animals, as well as pet accessories, animal care supplies, pet food, treats, toys, cages, litter boxes, and more.
These digital labels would not only replace traditional paper labels around the pet store but they would also:
- help automate processes
- help facilitate omnichannel retailing
- improve inventory management and replenishment process
- create a streamlined operation that will boost the sales and performance of the pet store
For example, SOLUM's Newton ESL is a dynamic digital label solution that can create a centralized, fully automated system for a retail store. These electronic shelf labels have beneficial functions that can help pet store retailers. Newton ESL is equipped with:
- 3-color display
- 7-page capacity
- Scannable QR codes
- Touch Finding and Touch Navigation feature
- Multi-colored LED Blinking
- Breakneck update speed
- ESL system
- Physical Inventory Integration With Online Webstore Inventory
- NFC (near field communication) capability
- 10-year battery life
A digital label solution like this could help answer a number of challenges that pet stores are facing.
Pet stores can be a safe haven for animals, pet owners, and animal lovers alike. With digitalization and modern tools, pet store owners and retailers will be able to overcome certain challenges and provide the best service and products to patrons.
Talk to SOLUM today and get digital labels for your pet stores.