Five Ways for Retailers to Stay Competitive in 2023

We’re back from NRF 2023 and buzzing from what we learned. Here are five major takeaways to consider as you look to 2023.

1. Prepare for the return of the returns

   Returns can stack up quickly in an omnichannel world. Instead of getting buried in a pile of ready-for-restocks, use them to your advantage! A proper return process can help your operation retain profits, optimize future ordering, and improve the customer experience.

2. Use a physical store to your competitive advantage

   It seems like everything from therapy to cocktail hour has migrated online, and cross-country connections via Zoom are here to stay. Despite that, the physical store still presents a huge advantage for retailers large and small— but only if they’re delivering a frictionless customer experience.

3. Don’t overlook the technology in your back office

   When the technology used to move products takes center stage, the back office is often overlooked. But it’s a disservice to think of your back office as anything less than the brains of your operation—especially in an omnichannel world. Choose document management technology that lets you communicate the way you need and helps streamline daily retail operations, allowing you to focus on more important things like providing a seamless customer experience.

4. Remember that agility isn’t just for athletes

   A global pandemic. The risk of recession. Ever-present inflation. The financial volatility of the last few years is weighing heavily on the mind of customers and influencing their buying behaviors. But retailers that leverage agile pricing strategies can still have a leg up on the competition.

5. Personalize whenever possible

   Before e-commerce giants took center stage, variety was king. Now, with limitless options at the fingertips of any shopper, there’s a new star in town: customization. With demand for unique goods skyrocketing, it’s no surprise that apparel retailers and small mom-and-pop shops alike are leveraging custom embroidery machines to offer high-value, customized options for their customers.

What the future of retail means for you

With the right tools, you can have some great things in store for your store. Here’s what you’ll love about our solutions:

• Your associates will find our solutions easy-to-use, regardless of their skill level or length of employment
• We’re our own manufacturer, so the solutions you need have in-stock options, ready to order.
• Don’t even get us started on their ready-for-retail design. They’re drop-in ready and built for integration.

And you don’t have to take our word for it. We’d love for you to get in touch to see what Brother technology can do for you.