It is Independent Retailer Month and we are going to dedicate July’s posting to help you get the most out of your retail business. In this article, we want to highlight the importance of using retail business software solutions and most importantly implementing the right one.
Therefore, we asked for the opinion of the best; three experts from leading business software review sites shared their wisdom and experience.
Differentiate Your Business
You might think that when it comes to competing with large retail chains you can’t win because you cannot afford the lower prices. However, there are effective ways to differentiate your business and win clients.
“Putting the consumer at the center of your sales process and helping to shape their shopping journey through personalized customer service and better-informed store associates can help your business compete against large retail chains”, says Karen McCandless, researcher, and editor at GetApp, a site that helps businesses compare sales management software.
“This is where the right business software is crucial. Almost 78% of respondents in a recent survey have seen an increase in customer satisfaction through using sales software. The right software gathers all information in one place, which can then be accessed on the go. This can decrease churn, provide better customer lifetime value, and allow you to respond to customers anytime, anywhere in a personalized manner”.
Implement a POS System
One of the most important software for retailers is definitely a POS system. “The capabilities, affordability, and ease-of-use of today’s retail point of sale (POS) systems leave independent retailers with no excuse to operate without one,” says Justin Guinn of Software Advice, a retail and online inventory management review company.
“Yet, 64% of single-store retailers we consult don’t have a POS in place. It’s unheard of considering the operational benefits enabled by features available in most all POS systems. Most important amongst the five primary POS features are sales reporting & analytics and inventory management, which are requested by 76% and 74% of POS buyers we consult, respectively.”
Do Your Research First
Cara Wood, a retail technology specialist at Capterra agrees on the importance of a POS system. “As a small retailer, finding the right software is crucial”, comments Cara.
“These days, you really can’t run a store without POS software. Stores that only take cash and run on a glorified calculator to make sales just don’t stay in business. What’s even more important for a small retailer is finding the right software on the first try because you don’t have the funds to bounce around between solutions. So make sure to do your research deeply.”
To sum this up, the right retail business software solutions are the tools to survive in a highly competitive market. A retailer should take his time to network with a variety of software vendors before selecting a solution. In addition, they should not get carried away by the many features a software app offers that might not actually be needed.
Nevertheless, picking the best isn’t always possible, especially if you don’t have a long experience in the field. In this case, cloud-based software might be helpful. You will not need to invest in expensive hardware upgrades, making your budget suffer. At the same time, most of the vendors offer a monthly subscription that you can cancel at any time. The possibilities are many.