Buy an essay: Checkout time

The time companies spent on checkouts affects consistently sale rates and the customer satisfaction level. In fact, checkout time increases the time of the delivery of products to customers and, therefore, it affects sale rates and customer satisfaction because customers are willing to receive products in time. In such a context, retailers of different formats may found themselves in a different competitive position in terms of checkout time.
First of all, it is important to place emphasis on the fact that the checkout time is essential time and retailers have to conduct checkouts to ensure the high quality of products being delivered to customers. On the other hand, different retailers spend different amount of time on checkouts. In this respect, large retailers are in an advantageous position compared to small ones because often large retailers save checkout time, even though they may face a risk of the higher rate of returns and refunds because they do not pay sufficient attention to checkouts. Large retailers can compensate financial losses caused by returns and refunds by the large volume of products being sold. The main purpose of large retailers is to sell over and over again. Even the rise in returns and refunds will not outweigh the growth of sale rates, which may occur at cost of saving time on checkouts. If they spend less time on checkouts than they can deliver products to customers faster, whereas more time on checkouts will slow down the product turnover and delivery to customers.
In stark contrast, smaller retailers face substantial problems, if the rate of returns and refunds increases substantially. Therefore, they cannot save time on checkouts. In contrast to large retailers, small retailers have to spend more time on checkouts to ensure the high quality of products being delivered to customers. In such a way, they minimize the risk of returns and refunds. At this point, it is important to place emphasis on the fact that small retailers suffer from substantial financial losses from returns and refunds compared to large retailers. The volume of products sold by small retailers is smaller compared to large retailers. Hence, they cannot sacrifice the quality of their products by means of saving time on checkouts for the sake of accelerating speed of delivery of products to customers and increase of sale rates. In contrast to large retailers, the rise in sale rates by means of saving checkout time will not cover losses from returns and refunds of small retailers. As a result, small retailers often have to spend more time on checkouts compared to large retailers.
Thus, it is obvious that the checkout time can affect consistently the competitive position of retailers. At the same time, the checkout time depends on the retailer’s format. Smaller retailers normally spend more time on checkouts, whereas large retailers spent less time on checkouts.

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