3 Reasons Sporting Goods Retailers Fail
It can be a bit scary to be in sporting goods retail right now. News reports of big sporting goods retail chains closing make a smaller business wonder how they are going to avoid failure. Looking at the different reasons attributed to this failure, three come up time and time again: failing to offer the stuff customers are passionate about, failing to keep an eye on the cash flow, and failing to integrate the management of data. ChainDrive Sporting Goods is designed to keep these failures from happening.
Failure To Understand Customer Passion
ChainDrive provides the tools to know your customers well. This knowledge can be turned into reasons to come to your website and your brick-and-mortar stores. Are there climbing walls in your area and rocks to explore? Offering the gear and workshops along with some expert advice gives all levels of climbers a reason to visit and come back again.
School teams, local youth leagues, semi-pro football teams all need some reliable source of uniforms and equipment. ChainDrive allows the creation of one back-office price and product list to link individuals to their particular group. This makes your store the place to go to for the sport they play.
Failure To Monitor Cash Flow
Another problem many sporting goods retailers run into is cash flow difficulties. On paper it looks like you are making a profit, but is there available cash to pay the bills? Vendors and others along the supply chain need to be paid. Lease management requires regular payments, as does insurance and taxes and all the rest of accounting responsibilities.
ChainDrive is a completely integrated retail management solution that enables you to keep an eye on what is happening with your cash flow so that the reality looks as good as the plan.
Failure To Integrate Data
There is no excuse for siloed information when you use ChainDrive Sporting Goods because the central database provides a consistent, cohesive view of both historical and real-time data. That means that sporting goods retailers can be consistent with the services they offer and the inventory they sell. Purchases made on the website can be returned easily to the physical store, for instance, because inventory status is transparent for all channels. This means that whatever scenario a customer brings in, everybody in your business can be on the same page.