Retail software development

We are an IT outsourcing company specializing in fintech, blockchain outsource software development and outstaff developers and tech consulting. For over ... years we have been offering outsource software development services for solving problems in the field of retail. Boosty Labs’ software solutions for the retail industry encompass business intelligence products designed for use on a variety of mobile devices to meet the needs of administration, line managers and managers. Our company's software designed for this industry streamlines business decisions, streamlines documentation, and provides the necessary reporting to retail executives. With much expertise in the outsource software development for the retail sector and a lot of understanding of this field we can transform your business and propel it to the next level.
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The reasons for software solutions’ application in the retail industry

01.

Physical constraints associated with store space and changes in customer flow, as well as inventory levels severely limit retail processes.

02.

Difficulty of warehouse management in retail chains, especially in grocery chains and other stores with a very wide range of products.

03.

The necessity to integrate the world of goods, pallets and packaging with modern online technologies.

04.

Urgency of tracking the movement of objects in warehouses.

01.

Physical constraints associated with store space and changes in customer flow, as well as inventory levels severely limit retail processes.

02.

Difficulty of warehouse management in retail chains, especially in grocery chains and other stores with a very wide range of products.

03.

The necessity to integrate the world of goods, pallets and packaging with modern online technologies.

04.

Urgency of tracking the movement of objects in warehouses.

Application of blockchain technologies in the retail industry

Application of blockchain in retail – the ability to automate the process of transferring ownership using smart contract algorithms – excites the minds and opens up broad prospects for completely changing processes in order to eliminate the human factor. This will allow the retailer to provide direct sales from suppliers to customers. There are decent prospects for blockchain solutions. They can be can be interesting for marketplaces that have a large pool of suppliers, especially if they are suppliers of homogeneous products. The question here is the quality of individual deliveries – their control becomes much sharper and more urgent. This task is at the junction of retail and supply chains, when you need to track these deliveries, consignments of goods, individual copies.

There is a chance that such projects will actively develop, especially in conjunction with financial services for lending to suppliers, platforms or B2B clients with a pledge of these goods or claims. Therefore, we see the prospects for the development of blockchain in factoring and leasing, where such rights of claim are transferred between participants. Decentralized transactions are already taking place in these segments, which require a technological solution on the blockchain.

Blockchain in retail will be associated with the development of the marketplace format, possibly with the development of the digital ruble, which is also based on the blockchain system. Of course, the integration and automation of the systems used will be required so that the processes of exchange of value or claims for this value between independent participants are fully robotized. Blockchain technology can also be integrated into supply chains to track the movement of goods using a digital code.

In general, today the interaction between the customer and the buyer is moving from a vertically integrated model to a commission model. Thanks to blockchain technology, a digital action such as scanning a digital code can become legally significant.

Distributed ledger technology can address four major supply chain pain points in retail and consumer goods – traceability, compliance, stakeholder relationship management, and flexibility.

According to the estimations made by the experts from the research firm Gartner, the added value of blockchain implementation in the supply chain could grow to $ 176 billion by 2025 and exceed $ 3.1 trillion by 2030.

Retail industry software development services

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Low throughput of the cash register

Solution: an innovative  system, which allows cashiers to work quickly, efficiently and accurately. Checkout productivity increases, queues disappear, and customers are satisfied with the service.

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Queues, decreased customer loyalty

Solution: a smart scan system that allows to efficiently deal with queues, reduce the workload on staff and increase customer loyalty.Customers independently scan the items in the cart, adding them to the check.

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Organization of centralized management of trading scales throughout the network

Solution: a scale service system with the ability to batch load data. The software is designed for centralized control of weighing equipment. It allows to reduce the time of unloading the product catalog on the scales by five times.

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Buyers want to receive information about the goods on their own, without the help of staff

Solution: a special software designed to coordinate the work of price checkers and info kiosks, display information of interest to buyers on the screens. As a result of using the solution, the level of customer loyalty increases. The solution  allows showing commercials on the screen of info kiosks and price checkers during downtime, which increases the average bill.

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Inventory processes are time consuming and error prone

Solution: a constructor of applications that facilitate work in the sales area and in the warehouse. It significantly reduces the time spent on inventory, order picking, price control.

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Lack of information about the availability of goods or errors during the picking and shipment of orders

Modernization of warehouses using systems based on 1C, as well as our own solutions. Our developments allow us to make the work of the warehouse as efficient as possible.

Retail industry software development benefits from Boosty Labs

Optimization of personnel work, control of supplies and equipment

Organization of supplies and optimization of routes, including in real time; monitoring of equipment and storage systems, "smart" racks, refrigerators, carts; load planning and control over the efficiency of labor resources in retail outlets.

Analysis of customer behavior

Tracking and creation of "heat maps" of visitors' movements; analysis of related products and formation of kits.

Interaction with clients

Omnichannel trade; development of loyalty programs and marketing campaign management; systems for recommending goods to customers.

Digitalization trends in the retail industry

Retail is the most competitive industry and it has always been. It is unlikely that anything in this regard will change in the future.  The latest technologies are moving towards the development of e-commerce and increasing the flow of sales via the Internet. And this is logical: payments are made quickly, there is no need to waste time on customer service, and besides, getting closer to your customers is sometimes more convenient in the environment in which they are used to being – these days it is the Internet.

In Western retail, smart contract technology is being used to organize the management of delivery and storage of goods, VR and AR, blockchain, cryptocurrency, Big Data, and the Internet of Things. The last two are developing at a rapid pace: Western manufacturers are increasingly releasing smart devices that can be easily "connected" with each other. In retail, this is widely used in the automation of manual labor. In progressive companies, you will no longer find a person performing routine tasks – a robot has been working for him for a long time.

What areas of digitalization will be relevant in the near future?

Robotization of routine operations

In retail, robots can be used to automate all sorts of routine operations. First of all, these are cashiers. In the near future they will be replaced either by smart machines or by well-known self-checkout counters, which have already been tested by many retail chains. Such cash desks allow reducing the number of cashiers by 3 times, and the full payback of the equipment occurs within 6 months.

They are also close to accounting specialties, including those who count and sort cash from cash boxes. This operation is quite within the power of special devices. The cash drawer is placed directly into the system and handles the cash on its own. The speed of its operation is amazing: the device is capable of processing more than 3.5 thousand coins per minute. No staff assistance is required, and revenue data is automatically transferred to the ERP system.

Data sorters

Most of the people performing routine operations are also involved in warehouses. This is time-consuming. In addition, human resources are limited, while the machine is capable of performing any task 24/7. Therefore, warehouse robotization in the retail sector is considered one of the key development areas.

The global trend shows: the optimization of workplaces with a large number of routine operations significantly increases the efficiency of the warehouse. The control system can process over 2 million warehouse operations per day, and with the help of technologies supporting bar coding, voice control and reading a QR code, the data processing speed increases several times.

Intelligent technology

Human labor is being replaced by machine labor on a massive scale and throughout the world. However, you can automate not only routine operations, but also the performance of larger tasks. Artificial intelligence is capable of learning: it remembers all structures, interactions, patterns and forms an error-free algorithm that makes your life easier. Moreover, artificial intelligence does not need to be trained - it can do it on its own. This is its key advantage.

The main feature of artificial intelligence is the maximum extraction of useful information from a huge amount of data. However, this will not be possible if you provide inaccurate information to the algorithm. Therefore, the data collection stage is of great importance for the entire business, and this is where we usually start working with our clients. The right methodology and technology for obtaining information determines the success of your sales and the entire business, and also allows you to get the most accurate forecasts.

Process Mining

If you cannot do without human work, and there are many business processes in the company, Process Mining technology comes to the rescue. It analyzes the received data and reveals everything that is usually hidden from the eyes of a manager: all kinds of loops, delays in the work process, lack of qualifications of employees, work progress, etc.

Many shopping malls have long used Process Mining technology as a way to enhance their shopping experience. It allows you to imagine the way the customer interacts with the store and identifies the weaknesses of the sales. In fact, this is a special approach to data analytics, however, it can do a tremendous job: increase sales, reduce costs, improve the efficiency of business processes, monitor and predict results.

Computer vision

The fact that modern technologies allow computers to recognize faces and images is no longer a secret to anyone. How can this be used in retail? The system automatically recognizes the resulting image and compares it with the loaded template (or, in other words, the planogram). It contains information about the layout of products.

The success of the store's sales depends on how the products are arranged on the shelf. Therefore, to facilitate and accelerate the control of the display of goods, computer vision allows you to create a photo recognition system. That is, at the moment when the merchandiser uploads a photo of the displayed shelf, the program automatically informs him that the goods are not displayed correctly. It also has access to the warehouse database and advises on what to add or replace.

Studies have shown that the introduction of computer vision technology can reduce the time of the merchandiser by 40% and increase the turnover by 5%.

Recognizing customer behavior

Artificial intelligence allows you to better know your customer. He is able to count the number of visitors, the number of converted and repeat customers, determine their gender, age, physical characteristics (height and weight, for example), race and much more. Based on all of this data, you can predict customer behavior and increase sales.

For example, you are analyzing customer activity and now you can organize the space in the store so that people spend more time in it than they planned. This will provoke spontaneous purchases and significantly increase your average check. Considering that more than 80% of people buy on impulse, the benefits of this technology for retailers are clear. Especially for those who trade offline: according to statistics, 8 out of 10 spontaneous buyers prefer a real point of sale to a virtual store.

IT is a must have for modern retail

Digitalization will continue to gain momentum, and the market will define technologies that will help improve business efficiency and remain successful in a highly competitive environment. We need to understand that in modern retail IT is a necessity, a must have for any entrepreneur.

Integration of the best retail practices with the digital world will allow innovation chains to increase financial performance, attract additional customers and differentiate themselves from competitors. Saving on innovations and abandoning new technologies can lead to losing the competition. Today we must not forget that only continuous development based on digital technologies can ensure success and prosperity in the future.

There is no need to be afraid of new technologies – the benefits of using IT solutions in retail will be tangible for every employee of the company. It is not as expensive as you might imagine – with the right approach, all the costs of innovations will pay off in one year, and the savings will increase in the future. What businessman doesn't dream of more rational distribution of his funds? And of course, your competitive advantage will only grow from this.
Follow the latest trends, be open to experimentation and become a market leader!