Your guide to improving efficiency and uptime in a retail environment
In today’s increasingly technological world, business owners should realize the criticality of maintaining the availability of their network and, by extension, the importance of utility power. However, few are taking the necessary steps to protect themselves and their business from the potential consequences of downtime. If a power disruption occurs at an unprotected retail location, you would immediately be unable to carry-out critical processes such as:
- Processing of credit/debit card transactions
- Internal communication
- Accurate inventory reporting and management
- Security monitoring (cameras) and in-store theft prevention (EAS security gates)
Even if you can manage to not let downtime affect your bottom line, there is no preventing the consequences downtime can have on your customers’ future perception of your business:
- After 2.5 minutes, customers will become frustrated if there is no progress in line
- 1 in 3 customers will abandon a line if forced to wait more than five minutes
- 50% of customers will avoid a retailer or brand in the future if they were forced to wait more than five minutes
While the loss of revenue is immediately apparent, the loss of loyal customers and a reputation that has taken years, if not decades, to develop can be catastrophic. The consequences of downtime don’t stop there though. A lack of employee productivity will also occur when utility power is disrupted, in addition to the resources that must be committed to rectify the problem.
The following provides ways to calculate the cost of downtime for your retail business:
- Cost of Recovery = Employee Wage*Number of Employees*Time
- Projected Loyalty Loss = Revenue Lost*Repeat Sales Rate
- Projected Reputation Loss = Revenue Lost*Percentage of sales referred to on social media and shopping comparison websites
1 in 3
One in three customers will abandon a line if forced to wait more than five minutes.
After 2.5 minutes, customers become frustrated if there is no progress in line.
Fifty percent of customers avoid a retailer or brand in the future if they were forced to wait more than five minutes.
Small companies suffer the most during periods of downtime, showing the least ability to generate revenue.
When these costs are added to costs associated with loss of employee productivity and general sales transactions, it is apparent that retail businesses should be committed to protecting their network and attached equipment. To ensure our customers’ availability needs are met, APCTM by Schneider ElectricTM has utilized decades of thought leadership and design expertise to develop innovative products that will keep your network and equipment up and running with the legendary reliability you have become accustomed to when interacting with APC.
Our Back-UPS™ and Smart-UPS™ uninterruptible power supplies UPSs perform exactly as their name implies, ensuring an uninterruptible source of power to your devices to guarantee that under almost any circumstance, your equipment will remain available and operational so you can continue to provide the best quality service to your customers.
Our solutions are positioned to equip your retail location to:
- Protect your valuable and expensive equipment
- Increase the availability of your network
- Offer dynamic adaptable solutions for any environment
All so you can:
- Reduce risks
- Reliably predict performance
- Provide best-in-class service to your customers