Blog
10 Reasons Why You Need An Omnichannel Retail Solution
November 1, 2018 / 5 minute read / By Zoya Naeem
Blog
Point of sale, eCommerce and marketplaces could be exactly what you need to increase sales!
The world of commerce is constantly evolving, especially with the emergence of retail technology and eCommerce. Thankfully, today’s tools make adopting POS architecture highly accessible to SMB retailers. Having a powerful POS software that manages all of your retail channels can give your small or medium-sized retail business a turbo boost in sales and growth.
Being able to track inventory seamlessly is crucial for any retailer who sells a lot of merchandise, has multiple locations, or wants to provide their customers with the best experience.
Managing a business can be extremely complex so the task adopting a complex point of sale software can seem daunting. However, it might end up making things much simpler once the learning gap is closed. An ever-evolving eCommerce landscape suggests that the initial investment of time and money will be returned quickly so don’t let the learning curve intimidate you.
Still not sold about whether you need integrated retail software? Read the following reasons why you need an omnichannel retail solution.
1. Keeping Up With Your Competitors Technology
When you read surveys about consumer trends, do you ever think to yourself, “Wow, I wish we could do that!” Learning about current and potential trends can help you see clearly that there is something essential that your business lacks.
It’s natural for retailers to be on the lookout for new capabilities to make their businesses more appealing. Many of these powerful capabilities that consumers are beginning to appreciate are made possible by having integrated retail software in place.
2. Managing Different Sales Channels
Retailers in most cases are not relying on a single channel as their main source of retail sales. Instead, rather than keeping all their eggs in one basket, retailers have now integrated with working with marketplaces such as Amazon and eBay.
Managing these channels can become extremely difficult for retailers especially if they are not equipped with the proper technology capable of keeping track of sales and data. An omnichannel retail solution can better assist this tedious process as it grants retailers the access to actively manage all their channels within one system. From sales whether in store, your website, or separate marketplaces an intuitive retail solution will help you efficiently run your business.
3. Keeping Your Entire Business Managed Through ONE System
Managing marketplace integrations and in-store sales are only a small piece of the puzzle. Aside from these aspects there are channels such as inventory and fulfillment that need to be considered. How can a retailer possibly manage these channels all by themselves? This process can become overbearing and stressful for most retailers without the proper retail solution.
Having an intuitive retail solution on your side not only makes your job easier but can be a deciding factor as to the success of your retail business. A powerful retail solution will save retailers the stress and most importantly the time of manually keeping track of sales and inventory. Owning a powerful retail solution will allow retailers to manage their inventory, vendors, marketplaces, fulfillment, and sales all in one system.
4. Ensure Consistent Inventory Data Across All Channels
If you are selling on multiple platforms (i.e; in-store, online, marketplaces), you should consider owning a POS software capable of managing inventory through all the channels you sell within. Not only can you manage sales but when you are also dealing with a large sum of inventory you can keep track of best selling and under performing products.
With Retailers not having a crystal-clear picture of current inventory, a retailer could potentially end up selling more products than they actually have. Without properly managing inventory, customers may have to receive their products later or might altogether opt to buy elsewhere.
5. Saving Time And Effort For Your Employees
If employees must perform tasks that should be left to point of sale software then they’re being inefficient. From re-entering information, creating purchase orders, filling out invoices should be left to POS software and out of the hands of
Employees, including you if you’re a manager, should be doing what they were hired to do: sell, manage, deliver, etc. Why would a salesperson need to go to the back to check on inventory if they’re needed by in-store customers?
6. Provide Cross-Channel Coupons, Loyalty Rewards, And Gift Cards
Another aspect that retailers can take full advantage of by owning an omnichannel retail software solution is by offering coupons, loyalty rewards, and gift cards connected through a single channel.
Without having all your channels connected through one system it might become extremely difficult for your shoppers to redeem coupons or gift cards in your store or on your online shop. This happens due to syncing errors with the coupons that retailers offer where a coupon may be redeemable online but not in-store or vice versa.
Owning an omnichannel retail solution rids the worry of your coupons and gift cards not being compatible with one another. Having everything efficiently managed through one system ensure that all channels are clicking on all cylinders.
7. Keeping Your Customers Happy
Let’s be real, with so many options, customers need to be satisfied fully or they’ll leave. Lost orders, delayed delivery times, wrong order information are all obvious deal breakers. But as eCommerce and POS software evolve, rewards programs, quick and easy in-store fulfillment mechanisms, and personalized experiences are becoming vitally important.
8. Market To Your Customers Using Their In-Store And Online Purchasing History
Having full records of your customers purchasing history throughout your channels is a great way to generate reoccurring business and happy customers.
Having saved customer information through your POS or eCommerce sites will give you a platform to utilize digital marketing to help generate sales. Obtaining your customers information throughout all channels will allow your business to offer customer incentives, rewards, and coupons which in turn will bring in sales and customer awareness of your brand.
9. Taking Full Advantage Of Your Brick-and-Mortar Stores
Although online shopping is prevalent, most customers still prefer to shop in-store and many say that they would like to support local businesses. With robust POS software that’s accessible on tablets, your sales team can spend their time serving customers and creating a friendly environment instead of entering information and checking stock.
By tracking inventory with POS software, a retailer can help move products from store to store to help cover shortages and allow customers to pick up their recent order from the store that’s closest to them.
10. Leaving The Heavy Lifting To Automation
Managing your retail sales online and in-store, along with inventory, marketing, fulfillment, vendors, customer loyalty and rewards can become a daunting task. Leaning on your POS and eCommerce software will get rid of all the headaches that come with running a retail business. Having everything efficiently managed through a central system frees up the time you need when running your business to focus on the most important aspect, the customer.
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