Time-to-market: how to guarantee it starting from the store opening
In the most used sense, time-to-market is the measurement of the time that elapses between the idea of a product and its placing on the market. A period of time that is very critical in competitive contexts, such as the retail world, because a few days or weeks of difference can determine the ability of a brand to obtain the greatest number of potential buyers, characterize itself as a protagonist of the specific market, obtain an economic return before competitors react. Time-to-market proves essential, particularly when opening new stores.
Speed as a crucial factor
Quickly starting the sales activity in a geographical area where market research or demographic analyses have shown favorable business conditions is a crucial factor for small businesses as well as for large retail networks. The ability to quickly certify the presence of one’s products, or one’s brand, in stations, shopping centers, transit, or more valuable areas reduces the possibility that direct competitors decide to do the same in a place that is already covered.
The keystone: store opening
Time-to-market is therefore essential when opening a store and does not only depend on the processing of legal and licensing procedures, the setting up, replenishment, and recruitment of sales staff. It also depends on the ability to prepare and implement IT systems, networks, and geographical connectivity services for the effective management of goods, reorders, cash register activities, customer support, and payments. A set of infrastructures, hardware, software, and services, which must be integrated and configured specifically to be able to come into operation in the shortest possible time.
Supporting store opening and beyond
BinHexS is an expert in digital solutions for the retail world and supports customers in the initial installation and technological upgrade phases of store IT infrastructures. In addition to the provisioning and implementation of hardware and software in stores located in Italy and internationally, BinHexS offers staff training support and dedicated IT service desk services (Retail Service Desk) provided on a 24×7 basis to cover all issues of connectivity, network, cash register systems, POS and applications.