Key factors to make the F&B and Retail business more hi-tech

by LiLi | Jan 15 2018
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To gain a position in a tensile competition and constantly changeable market, the managers|owners of the F&B business have to rethink the 4P model and apply something more innovative and appropriate with the new customers’ behavior and new business model.
Key factors to make the F&B and Retail business more hi-tech

The Traditional 4P:

If you have still not heard about the traditional 4P, here is the short explanation for you:

  1. Product: it’s about how to provide various types of products, meet the target customers’ demand and build the signature of your brand
  2. Price: set the price scheme that suits with target customers as well as brings profits to business
  3. Place: the best location is the one that is easy to find, surrounded by target customers and has the affordable cost.
  4. Promotion: it’s extremely necessary to apply promotion program to acquire new customers and retain existing customer.

The 5th P - Process:

This 4P base is now getting old compared to the fast-paced world. In these days, you have to care for another P – Process to make sure your business not stop growing. The Process we mentioned is not the store operation process such as inventory, staff or expenditure management process. The Process we are talking about is the process that affects directly on the customer experience, which is known as the selling process.

To know how good is your selling process, let’s ask yourself these questions:

  1. How long does it take from the receiving order step to the printing receipt step?
  2. How many is out of 10 orders that you receive complaints from customers?

If your answers are not positive, followings are those aspects you should review to put your selling process into an improvement plan:

  1. The level of the communication effectiveness between the front and back store: Does the cashier know exactly when the kitchen staff receives orders? Does the kitchen staff follow the special note on orders taken by waiters? Are your staff aware if a specific product has been out of stock or on a delivery yet?
  2. The duration between taking order step and delivering food step at the F&B store or between the requesting order step and receiving product step at the retail store.
  3. The level of stability of your selling software: it would be a nightmare if your business is disrupted due to broken software and cashiers have to spend more time on taking order manually.

The role of POS software in developing 5th P:

With all of the above mentioned angles of 5th P, the new selling software has to “cure” a headache out of business owners about the software’s errors or machine malfunction which will lead to wasting time and money in the selling process. Many of current online software for selling and management provide the essential features supporting various types of business and help the business owners manage their selling process more tightly and efficiently. Our product – POS Online is one of them and it has another big advantage – very reasonable cost besides these following plus points:

  1. Your selling process will be faster and controlled better with POS Online.
  2. POS Online provides all key functions for selling activity such as creating receipts, managing waiting orders, applying promotion program for loyal customers, adding loyal points for customers, taking note of orders, and choosing payment methods.
  3. POS Online will make the communication between front and back store transparently and timely, as well track selling activity more closely.
  4. POS Online is tailored to fit various types of business models: F&B stores (including take away stores) and retail stores.
  5. POS Online will bring you the flexibility and convenience for you. Just with only one account, you can sell and manage your stores online on any devices in anytime at everywhere. This will support you to prevent the data loss or the disruption caused by broken machines.
  6. Your customers are also POS Online's customers. As the result of the process improvement, customers will be the one happiest when they don’t need to wait long but still get the best service with warm food and a drink made exactly as what they ordered. More importantly, you can tackle all the problems relevant to the selling process when they just happen no matter where you are.

Are you ready to catch the trend?

In summary, the good software is the one that can assist you to improve your 5th P-factor – Process. With a smart and highly customized process, your business definitely succeeds in building a good image and then loyalty from customers.

Fast service can also be the signature that customers remember about your business. If you want to try this new modern management style, do not to hesitate to try our POS Online service when registering on our system. We are here to support you to optimize time and effort in order to make your customers happier when they are at your stores.

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