The 4 challenges facing retail businesses and what Clover’s doing about them

Introducing Clover Retail Growth Software

Clover Retail Growth is an all-in-one subscription plan designed to help your retail business grow by streamlining and centralizing daily tasks into one system. From inventory management to building, launching, and running an online store, Clover has combined its best systems, devices, and tools with features designed especially for small business retailers into a simple plan that can grow with your business.

What’s more, Clover has taken on the work of staying on top of market and technology trends, so you don’t have to and is offering omni-commerce capabilities to provide a standout experience for your customers wherever they are–in-store or online.

Designed uniquely for retailers, Clover Retail Growth is now available to retailers specializing in clothing, shoes and other apparel, jewels and accessories, or sports apparel and uniforms–and can take the pain out of their most common challenges.

4 common challenges of clothing and accessories retailers

While most small business owners face problems managing their businesses, customers, and employees, retailers face unique ones. Here are four retailer challenges and what Clover’s doing about them.

1. Managing operational costs and cash flow

Operational inefficiency–in managing inventory, staff, or supply chain–can reduce your profit margins. With the uptick in cost of goods, transportation, and even utilities, retailers may need to reduce operational costs by as much as 20% just to stay competitive. Having a poor grasp of overhead and cash flow can further squeeze profit margins, putting your business at risk.

From managing employees and payroll to order fulfillment and routing, Clover Retail Growth helps you automate the tasks you do everyday, saving you time and money. What’s more, Clover offers you products like Clover Capital, and Gift Cards to help manage your cash flow and offset seasonality, changing market conditions, or even unexpected sales returns.

2. Competing with online retailers

Online retailers can offer lower prices, greater convenience, and more selection than traditional retailers, making it tough for a brick-and-mortar shop to compete. Considering about four in five (81%) shoppers conduct online research before making a purchase, many small businesses have already created an online presence. In 2023, for example, 73% of US small businesses had a website–another 23.5% said they planned to build a website.

To outpace the competition, retailers need to create a seamless omni-channel experience for customers–you need an eCommerce solution that integrates your online store with your in-store experience. Clover’s customizable eCommerce website, check-out integrations, Virtual Terminal, and more, make creating an exceptional shopping experience simple.

3. Understanding customer spending trends

Customer spending habits and patterns can change unpredictably. Many retailers struggle to operate their businesses–much less keep up with customer spending trends. Not understanding consumer trends, market fluctuations, and the competition can mean your products and prices don’t meet your customers’ expectations–and, worse, reduce your traffic and sales.

Clover Retail Growth arms you with sales data to help you understand customers better. And, it gives you access to powerful third party apps to implement store promotions and easy-start loyalty program, and Clover gift cards to help boost loyalty and sales. You’ll also have access to social shopping platforms and marketplaces to help you build an exceptional online store, create a standout customer experience, and reach more customers.

4. Adopting new technology

Keeping pace with new technologies can seem like too much work for busy retailers–and it can feel easier to use the manual processes and tools you know. But, outdated, overly manual tools and processes can lead to over- or understocking inventory, increased carrying costs, and a downturn in revenue. Take inventory management, for instance. Globally, inventory distortion costs businesses an estimated $1.5 trillion annually. Further, a staggering 37% of businesses have shipped orders late because they mistakenly sold an out-of-stock product.

Clover Retail Growth provides you with access to best-in-breed technology and partner solutions within the Clover platform. It’s an all-in-one operating system that lets you manage APIs and integrated partner apps right from your Clover retail POS system. What’s more, it offers tools like item tracking, variants management, stock keeping, import/export bulk inventory, and more, to help you manage inventory quickly and efficiently.

Clover Retail Growth is an investment that can automate crucial operational functions, boost your bottom line, and help your business thrive.

5 reasons clothing and accessories retailers should try it

Clover’s Retail software plan saves you time and money by helping you manage your business and put your customer first–effortlessly. Here are 5 reasons your retail business should try it (and why you’ll love it).

Easy – This suite of Clover products designed specifically for retailers can help you keep your stock organized, reducing your administrative load and overstock costs.
Efficient – With our online store solution, your business never closes. Your customers can shop anytime, anywhere.
All-in-one – Simplify your checkout process with built-in payment solutions, allowing clients to pay in advance or at the time of service–that streamlines your financials and uplevels the customer experience.
Drive traffic to your store – Optimized for search engines and easily integrated with social media, our customizable online store solution can help increase traffic to your store and sales. Now, your customers can shop online and pick up in-store–with more shipping and delivery features coming soon.
Simplified and scalable operations – The Clover ecosystem grows with your business. Whether it’s keeping your inventory updated online and in-store, engaging customers, or managing employees and payroll, our solution scales to handling operational details, so you can focus on building your business and selling more.

With more features coming this year and next, Clover Retail Growth is available now to boutiques specializing in clothing, shoes and other apparel, jewelry and accessories, or sports apparel and uniforms–and to all retail businesses soon.

How can we help?

If you want to learn more about how Clover can help you accept payments, run your business and sell more, please contact your Clover Business Consultant. You can also follow us on Facebook and Instagram.

This information is intended solely for informational purposes and should not be interpreted as legal, financial, or tax advice. Readers are strongly advised to consult with their attorneys, financial advisors, or tax professionals to obtain guidance tailored to their specific circumstances.