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Ever walk into a store and feel like they ‘get you’? Their staff remembers your favorite designer brand or the kind of jeans you usually buy. Pretty cool, right? That’s the power of personalization.
But in today’s competitive retail market, there are hundreds and thousands of brands vying for your attention, and personalization is not a luxury anymore, it’s a must-have. In fact, a study by McKinsey & Company found that a whopping 80% of US adults expect a personalized shopping experience. Fail to deliver, and they might just shop somewhere else!
So, how do you remember everyone’s favorites, especially if you have multiple stores?
That’s where powerful retail management software comes in. These retail software systems can help you learn what your customers like, keep track of your inventory, and make sure all your stores and sales channels seamlessly work together.
This blog walks you through the five steps to finding the best retail software for your multi-store chain.
Before diving into the search for a retail POS system, it’s important to have a clear understanding of what you want to achieve. Start by identifying your specific goals and the sales channels you want to use. Are you interested in improving your in-store sales process? Or do you want to improve your online sales through your eCommerce website? Maybe you are planning to boost your customer engagement via a retail app or streamline your BOPIS service across all your stores?
Being specific about your goals will help you narrow down your choices and select the best retail software that matches your needs.
Identify the bottlenecks in your current business processes. Are you struggling with inventory management, CRM issues, or integrating multiple sales channels?
You might want to list out the functionalities that are critical to your business. This can include things like real-time inventory tracking, a powerful POS system, customer data integration, or seamless integration with third-party apps.
Imagine how the right software can streamline your business operations. For instance, will it reduce the time spent on manual tasks, provide better insights into sales trends, or enhance customer satisfaction through personalized experiences?
By clearly outlining your goals, you will be better equipped to find the best retail management software that not only meets your immediate needs but also supports your long-term business growth.
Retail software isn’t a one-size-fits-all solution. Look for comprehensive retail management software like Stratus Enterprise that offers customizable features. This means you can tailor the software to your specific needs and challenges, focusing on what will make the biggest impact for your business.
Choosing the right retail software isn’t just about ticking boxes -you need to do a thorough comparison of the features and benefits each option offers. This is essential because it ensures you choose a solution that best aligns with your specific business needs and goals.
Here are some core functionalities you need to look for:
Key factors to consider when researching new retail management systems:
Having real-time data lets you make informed decisions quickly. Are you running low on a popular item at a specific store? With real-time visibility across all your sales channels and store locations, you can plan better, transfer merchandise as needed and avoid stockouts.
See a sudden surge in online orders? You can quickly allocate resources to ensure smooth fulfillment. Advanced retail software like Stratus Enterprise achieves this with a centralized database approach. This means all your data is stored in one central location, giving you a unified view of your entire operation.
Before committing to a retail software system, it’s important to get a demo with the sales staff. This allows you to experience the software firsthand and whether it meets your needs.
Especially when exploring retail management solutions for a multi store business, you might need multiple demos, to ensure the retail system is capable of all the different aspects to your business. Inviting as many of your management team members to these initial retail software demos ensures each of your teams are on-board, and can ensure your entire organization is on the same page and aligned.
Evaluating retail software via interactive, one-on-one demos is vital because:
Product demos are your chance to see whether the software will be a good fit for the overall needs of your business. Ask the POS software providers if they can offer a demo sandbox or a test system. This allows you the chance to experiment with the software in a controlled environment, giving you a better understanding of its capabilities and limitations.
When making such a large investment in your retail management software, it’s important to get feedback from other retailers who are successfully using the retail software. Reading reviews and testimonials from other users is an important step in choosing the right retail software for your business. You not only get to see the real-life insights into how the software performs but also how other retailers have experienced the benefits of it.
Here are three main reasons why user reviews and references matter:
Learn More: Read Celerant’s Retail Software Customer Reviews
Where to find reviews? Here’s a quick map for you to work with:
| Source | Description | Importance |
|---|---|---|
| Websites and blogs | There are many retail software review websites and industry blogs that provide in-depth reviews and analyses of “the best retail POS software solutions”. | These can be a great starting point for understanding the general sentiment around the retail software. |
| Forums and social media | You can join industry-specific forums and private social media groups where retailers share their experiences and questions regarding different retail software. | These platforms can be a great way to tap into candid and honest feedback from real users. You’ll get to see “the good, the bad and the ugly” as they say. |
| Case studies and success stories | Check out the case studies and client success stories the POS software provider published. | These often provide specific results and benefits experienced by other retailers, giving you a solid example of what you can expect. |
| The easiest place to start is to simply read the reviews on Google. The number of reviews, and what the customers are saying are both important factors. | The reviews found on Google tend to be short and sweet, whereas the website that offers side by side retail software comparisons tend to be more comprehensive reviews. |
It’s important to keep in mind, retail and POS software is never perfect, and the age-old saying- “the squeaky wheel gets the oil.” It’s true, at times the customers who are experiencing challenges are typically the ones to go and post their feedback and reviews, many times much faster than the happy customers, probably the same as your experience with your customers as well. When reviewing the reviews keep that in mind, and weed out the ones that are simply that- but look for the good feedback, as well as the negative feedback- as both can be helpful in your decision.
Choosing the best retail POS software is about more than just features -it’s about finding a solution that will meet your business needs, fit your budget, and provide the best overall value and customer experience.
Here are five key factors that will help you make the best choice for your retail business:
| Factor | Description | Importance |
|---|---|---|
| Business Goals | Make sure the retail software aligns with your business goals like improving sales channels (BOPIS, eCommerce, mobile apps, etc.) | Helps address main challenges and improves performance, productivity, and profitability. |
| Budget Suitability | Choose software that fits in your budget while offering the most value. Consider the upfront cost and ongoing, monthly SaaS costs. | Balances cost with functionality to avoid underspending or overspending on essential features. |
| Best of Breed vs All-In-One | Evaluate if a best-of-breed or an all-in-one retail POS system will work best for your business needs and budget. | All-in-one POS systems can reduce costs and simplify maintenance, while best of breed solutions may offer specialized features. |
| Growth Possibility | Check how the software can scale and support your business as it grows. | Helps with long-term viability and support for expansion. |
| Customer Experience | Choose software that improves customer experience across all touchpoints. | Enhances customer satisfaction and loyalty by providing seamless interactions both in-store and online. |
When looking for a retail software solution for your business, choose the one that’s designed to scale with it. Look for features that can handle multiple stores, growing inventory, and increasing customer traffic. This way, you can focus on running your business without worrying about software limitations.
Take our quiz to help determine the right retail POS system based on the needs of your business. Our tailored questions will guide you to the retail POS solution that best aligns with your business goals and operational requirements.
With questions regarding your retail industry, your online and digital marketing goals, specific processes needed by your business and more, we can help guide you to right retail management system, while providing a ton of educational materials along the way.
Get started with your retail POS and eCommerce software evaluation by taking our quiz below.
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