A system that allows retailers to sell wherever they want, at any time.
With today’s technology, store owners can now run their entire business from their smartphone or tablet. With Retail’s cloud-based retailing software, retailers can sell from anywhere in their store or outside of their store. You can also place orders online.
Let’s walk you through the key features you need to be aware of so that you can quickly start selling on all channels.
- Real-time inventory management
Multichannel selling (e.g., In-store, online, or social media) requires retailers to maintain accurate inventory counts across all sales channels. You need to track the inventory quantity in your warehouse, at your shopfront, and at pop-up events. Unfortunately, many POS systems can only handle inventory and sales. It is difficult to manage everything separately, especially if you have multiple locations or online sales channels.
Multi-channel POS software can help you manage inventory wherever you sell or stock products. It makes inventory tracking much easier and allows you to fulfill orders faster across all channels.
Modern cloud technology allows retailers to manage stock from any location and channel. It makes it easy for shoppers to be happy and reduces stock-outs. In addition, you can see all stock levels to adjust your purchasing needs in real-time.
- Manage Your Customer Data
Cloud POS technology today should allow you to collect and manage customer information across multiple sales channels. It is particularly important after the pandemic when more consumers shop across multiple channels.
These are the things to look for when evaluating POS vendors:
- Being in control of all customer sales and returns. Omnichannel shopping has grown due to the pandemic. It is especially true for online sales, which can have returns rates up to 40% compared to traditional in-store return rates. Your POS system must be able to manage transactions across multiple channels to reduce your return costs. Online orders can be exchanged or returned in-store to avoid double processing fees and sales losses.
- Customer profiles POS software allows you to collect detailed contact information for marketing and customer research.
- Customer transaction histories: Retail associates can quickly access the customer’s transaction history and offer immediate recommendations to increase up-selling or cross-selling opportunities.
- Consolidated Sales Metrics and Reporting
Store owners can use POS software to help them make data-driven decisions regarding their retail business.
Modern POS systems allow you to see analytics across your business across all channels easily. that is true for both individual sales and the whole business. It will help you to see what is working and what isn’t. This is also allows you to be more flexible and adapt quickly to changes in the retail environment. Your POS software should also make it simple to manage sales taxes across all sales channels.
These are the things to consider when evaluating POS options.
- Sales data for each store and across all locations
- Reports for online and in-store sales
- Sales breakdown by day, week, and month
- Sales per employee
- All sales channels subject to sales taxes
- Marketing Integrations & Fulfillment Options
Digital marketing integrations are available today to help you meet the changing needs of shoppers. It can result in increased sales for your company. You can also use your POS to display your products on Google, allowing you to reach nearby shoppers looking for what you have to offer.
You can also offer different fulfillment options to meet your customers’ needs. It would be best to look for POS solutions that offer flexible delivery and pickup options.
- Local delivery – This option allows retailers to fulfill orders within the same region as their business. It is especially useful for retailers who sell bulky or large items. If you have your Town delivery personnel, look for solutions that allow you to properly zone and schedule deliveries.
- Shipping – It’s a great idea to offer home delivery. Customers can order the item directly from their homes if it is not available in a particular location.
- Shop online and pick up in-store (BOPIS). This fulfillment option was a popular choice during the pandemic. Customers can purchase items online and then pick them up at either a physical location. This fulfillment option allows customers to inspect the products before they leave physically. It also reduces their packaging costs and decreases their return rate.