More and more retailers are recognising that customer management can bring long-term value to their business. Since applying these strategic approaches is not an easy task, retailers should consider implementing an appropriate retail management system to make all processes invariably smoother. Such a system will aid enterprises in:
Streamlining transaction processing. With the right retail software, sales transactions become faster and easier. Retailers can:
- Immediately access prices, availability, and stock location through the customisable POS screen.
- Access customer profiles and handle multiple tenders and partial payments at checkout.
- Accelerate checkouts, offer up-sells and cross-sells through suggestive selling of linked items, and implement automatic discounts for frequent shoppers.
Improving efficiency and minimising data collection errors. Retail management systems allow retailers to capture and store customer information, which can later be used for advertising, promotions, etc. In addition, the software will help retailers organise, simplify, and automate the otherwise tedious day-to-day business operations and transactions, and reduce the effort required for repetitive manual activities.
Providing KPIs for the analysis and decision-making process. Retail software enables executives to access, analyse, and share current, detailed data across the entire business, including multiple store locations with a wide range of flexible reports. Conversely, efficient retail software should include built-in statistics and KPIs for users viewable directly within the software or through the prebuilt reports.
Bringing a user-friendly interface. To make it easy for everybody to adapt to the new system, a good solution must be designed so employees can learn POS procedures in minutes with built-in applications and an intuitive user interface.
Providing the ability to control promotion programmes. Best-in-class retail management software will help retailers plan promotions, forecast their performance, and analyse the results. Thus, retailers can offer customers discounts at point of sale whilst being able to limit the impact of those activities on the product’s profitability.
Better inventory management. Retail management software will provide details on current item stock and identify additional stock required to smoothly operate the business. Retailers can also examine the number of specific items sold on any date and the number of items left on the shelf. All these details will help retailers place proper purchase orders, thus avoiding surplus, and minimising waste.
With the right approach and best-in-class retail management software, retailers can reap great benefits from customer management. See the white paper “Customer management and its incremental demands on retailers” to find the solution that fits your business.