Use the most powerful, and overlooked digital business-enabling tool everyone has
Everyone has a powerful yet often overlooked digital tool, smartphones, credited for the rapid digitalization across the world. With its ever-expanding range of features and capabilities, the smartphone will eventually replace the need for a laptop or computer. With recent events, online transactions and activity have significantly increased.
However, many retail/F&B businesses are slow on the uptake of digitalization. Often, business owners take a “wait and see” approach when digital tools are made available to them, and losing out on potential revenue their competitors are making. Another key factor for the slow digitalization of small businesses would be the misconception that digitalization requires huge investments on hardware like immobile servers and IT infrastructure, which is not true. Here are some ways to digitalize your retail/F&B business without heavy hardware and infrastructure investment.
Reach out to your customers digitally
A big part of running an F&B or retail business is about customer acquisition. Traditional methods such as print advertising and flyers are certainly an effective outreach channel but come at a high cost. Small businesses may not be able to upkeep such outreach methods consistently enough to reap the benefits.
Digital marketing is a much cheaper and effective outreach method. Effective simply because most consumers are constantly on their smartphones, scrolling through social media or browsing websites of interest.
Therefore digital marketing is a means for you to get your brand and products in front of consumers, where they are spending a bulk of their time. For digital marketing tips, click here!
Set up your own website
A business website should be one of your priorities if you have not set one up yet. Research from Blue Corona shows that 90% of consumers will check a company’s website before emailing or calling them. While it may seem like an uphill task to set up your own website, many platforms like duda.co
provide a modern, stylish and customisable template for you to build your website. Spend some time on these website development platforms and choose one which you are most comfortable building your website with.
Your website plays a big role in attracting customers. Design wisely.
Turn to Digital Ordering
With the recent occurrence of the pandemic, most consumers are turning to order food and products online. This consumer trend will be here to stay. Hence, it is important to meet your customers where they are buying.
Digital ordering solutions like iMakan, will help F&B businesses go online, tapping into a lucrative online market.
Meanwhile, retail business owners can use tools like Shopify
to build their own e-commerce sites to let consumers buy from you online.
Manage your business from anywhere
You may always have to be at a hundred places at once. However, this can be a source of concern for small business owners. A great solution for this is to get a POS solution, like MEGAPOS, with cloud-based backend, allowing you to see insights and manage your business at your fingertips from anywhere.
Lumpsum or subscription payment
Gone are the days of pouring a huge amount of cash to invest in IT Infrastructure and hardware for digitalization. Cloud-based solutions these days usually allow subscription-based payments, making it easier for you to kick off your digital journey.
To conclude, we are all going digital some way or another in our lives. Therefore, business owners like you, have to evolve to keep up with the times.
To find out more about iMakan digital ordering solution, contact us at (+65) 6271 5788 for more information, or leave us your contact details below and we will be in touch with you.
In Singapore's bustling F&B scene, quick-service beverage outlets like bubble tea shops, coconut drink stalls, and fruit juice bars face the challenge of serving a high volume of customers efficiently while maintaining personalized service. Integrating self-ordering kiosks, QR ordering, and Customer Relationship Management (CRM) systems can revolutionize operations, enhance customer satisfaction, and drive revenue growth. 1. Flexible Order Customization Beverage kiosks often offer a variety of customization options—sugar levels, ice preferences, toppings, and more. Self-ordering kiosks and QR ordering systems allow customers to easily select their preferences through intuitive interfaces, reducing errors and ensuring orders are prepared to exact specifications. This precision enhances customer satisfaction and streamlines the ordering process. 2. Reduced Manpower Requirements By enabling customers to place orders directly through kiosks or their smartphones, staff can focus on preparing beverages rather than taking orders. This shift not only reduces the need for additional manpower but also accelerates service during peak hours, improving overall efficiency. 3. Increased Average Bill Size Self-ordering systems can be programmed to suggest add-ons or upgrades, encouraging customers to explore additional options. This automated upselling strategy has been shown to increase average order values, with some establishments reporting a 15–30% boost in sales. 4. Enhanced Customer Loyalty through CRM Implementing a CRM system allows beverage kiosks to track customer preferences and purchase history, enabling personalized marketing and loyalty programs. Offering rewards, cashback, or point-based incentives encourages repeat visits and fosters a loyal customer base. 5. Real-Time Menu Management With integrated systems, menu updates and item availability can be managed in real-time across all outlets. This centralized control ensures consistency, reduces the risk of selling unavailable items, and allows for quick adjustments based on inventory or promotions. 6. Data-Driven Insights Collecting data through QR ordering and CRM systems provides valuable insights into customer behavior and preferences. Analyzing this data helps in tailoring offerings, optimizing inventory, and designing targeted marketing campaigns, ultimately enhancing the customer experience and boosting sales. 7. Improved Order Accuracy Allowing customers to input their orders directly minimizes miscommunication and errors. Accurate orders lead to higher customer satisfaction and reduce waste from incorrect preparations. 8. Streamlined Operations Integrating self-ordering kiosks, QR ordering, and CRM systems creates a cohesive operational flow. Orders are processed efficiently, customer data is centralized, and staff can focus on delivering quality products, resulting in a more streamlined and effective business model. By embracing these technologies, quick-service beverage outlets in Singapore can enhance operational efficiency, improve customer satisfaction, and drive revenue growth. Implementing self-ordering kiosks, QR ordering, and CRM systems positions businesses to meet modern consumer expectations and thrive in a competitive market.
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The recent implementation of a universal 10% tariff by the U.S. administration under President Donald Trump has introduced new challenges for Singapore's economy, particularly affecting the Food and Beverage (F&B) sector. Restaurant and café owners must proactively address these challenges to sustain their operations and profitability. Understanding the Tariffs Tariffs are taxes imposed on imported goods, aimed at protecting domestic industries and generating revenue. The current U.S. tariffs include a universal 10% levy on imports, with higher rates for specific countries. Singapore, despite its strong trade relations with the U.S., is subject to this 10% tariff. Impact on Singapore's F&B Sector Singapore's F&B industry relies heavily on imported ingredients and products. The imposed tariffs are likely to increase the cost of these imports, leading to higher operational expenses for businesses. This escalation in costs may necessitate price adjustments, potentially affecting consumer demand and profitability. Strategies for Mitigation To navigate these challenges, F&B businesses can consider the following approaches: Diversify Supply Chains : Exploring alternative suppliers from countries not affected by the tariffs can help mitigate cost increases. Optimize Operations : Implementing efficient inventory management and reducing waste can offset increased costs. Adjust Pricing Strategies : Carefully evaluating and adjusting menu prices can help maintain profitability without significantly deterring customers. Enhance Customer Engagement : Strengthening loyalty programs and personalized marketing can boost customer retention and spending. Government Support The Singapore government has expressed its commitment to assisting businesses affected by the tariffs. Engaging with relevant agencies can provide access to support programs and resources designed to help businesses navigate these economic challenges. Conclusion While the U.S. tariffs present significant challenges to Singapore's F&B industry, proactive strategies and leveraging available support can help businesses adapt and sustain their operations during this period of economic uncertainty.
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