As a retailer, you can see a tremendous change in how you manage your business over the past few years.
Changes in consumer demand, technological changes, internet banking, and multiple billing options, and retail software are the many factors that cause change.
But what is more trending and demanding is to keep pace with the current market trends.
Role of Retail Management Software in Multi-Store business
Operating and managing a multi-store is a challenging and complex task too. It is similar to the single-store concept. But it involves more operational aspects.
It requires proper management, communication, data management, and inventory management to be more precise and centralized.
Retail chain stores always demand accurate information regarding stock and sales.
Multi-store management software allows operations to be centrally managed for consistency and better visibility across your chain.
The software connects each store data to a centralized location. It gives detailed reporting of each business process for better forecasting and management of all the stores residing in different areas.
It enables you to manage sales, purchases, stock tracking, staff handling, promotion, inventory, and payment all in one place. Also, it always comes up with efficient, accurate, and cost-effective solutions to increase customer retention.
Reasons You Need A One Management Solution for Your Retail Multi-Store
To establish standard operating procedures in the business.
Multi-store retail management software provides features to establish standard operating procedures in a business.
Establishing standards ensures that customers have the same experience across all stores, no matter which store they visit. Also, it’s easier for supervisors to work together and manage inventory across the store chain.
This way, when employees are trained to the same standard, they can work together more efficiently and enhance company performance.
To facilitate communication across all retail chain stores.
Another benefit of using a multi-store management system is the streamlining of communication across all retail chains.
The software helps to establish a central location where all the data is saved and managed. It is the central part of communication for all the shops. The demand for any service or product can be met from here.
As such, it provides valuable connections to managers. It allows remote sites to stay connected and engaged with the rest of the business.
To optimize inventory management.
Retail multi-store software helps enterprises optimize their inventory. Managing inventory located at multiple locations is always a complex task.
A multi-store management system facilitates the convenience of inter-store transfers. The objective behind this, no store should face the out-of-stock scenario and not lose the trust of its customers.
In this way, brand value is enhanced, and opportunities open up for increasing revenue streams.
To deliver consistent customer service and provide loyalty programs.
Multi-store management software efficiently helps businesses standardize processes to gain visibility and communication. This way, the store owner knows which store is lacking which item.
They can quickly analyze the data to understand better what products and services are needed in specific locations.
Thus, offering loyalty programs across multiple stores becomes more manageable with the software. It provides an increased brand loyalty, improved customer service rating, and repeat business from customers.
To enhance analytics capability by receiving integrated reports.
Multi-store management software comes with POS capabilities and other features like billing, reporting, payments, and more. Its reporting gives a detailed account of what’s going on at the convenience store chain.
Accordingly, enterprise managers make better-informed business decisions and gain financial control. They can make accurate forecasts and plans, giving managers more opportunities to find ways to reduce costs and reduce downtime.
After knowing the above benefits, it is also essential for you to understand what technology trends are working behind them. It will help you to buy good software.
Trends in Retail Multi-Store Management Software in 2021
Facilitate online store in offline space
A retail business is different from an online store. But compared to years past, offering online services in your brick-and-mortar store has become a necessity. It could be due to technological advancement or COVID-19.
For this, you will need to add new technology sets like digital ordering and payment systems to facilitate contact-less service. Your brick-and-mortar store should be integrated with advanced multi-store management software.
All your data should be secure in one centralized location or cloud to ensure no data loss and continuous customer service.
Integrating Advanced POS Solutions
An advanced point of sale system provides its users with many options/features for a successful purchase. It efficiently handles sales, billing, inventory management, reporting, and customer management.
Multi-store POS solutions come with inventory capabilities that can sync your stock levels when making sales. You can easily track product movements so that you can make better buying and selling decisions.
In addition, it provides all the professional data on your figure tips in real-time. Through the reporting feature, you get reports of sales, product movements, and customer behavior. This will help in better decision-making that will positively strengthen your multi-store bottom line.
This way, you’ll be able to streamline your retail multiple chain business operations and enhance your eCommerce integration, payments, accounting, bookkeeping, and more.
Setting up a contact-less ordering and payment system
Today requires that every retail store or store chain be integrated with B2B or B2C applications. It enhances how you and your customers place orders and makes their payments in more effective, secure, and contact-less ways.
You can display all your items to your customers in one place and change them anytime in real-time. That’s why mobile technology is now an essential part of managing a retail store or store chain management.
Using Business Analytics and Intelligence
Business analytics and intelligence solutions let your multi-store business analyze big data to find patterns in customer buying behavior. It helps you plan, monitor, and evaluate the success of your promotional activities.
Plus, it gives insight into how your customers react to your marketing strategies, promotional activities, and product enhancements.
It helps you with employee empowerment, customer experience enhancement, marketing campaign optimization, and more.
Introducing E-commerce Platforms into Business
Now it becomes crucial to have your own brick-and-mortar store website or mobile application for fast ordering, billing, and delivery. It enhances your brand value and trust.
Customers who avoid going out of their homes can check all your products /services online and place an online order to buy the same.
In this way, introducing an eCommerce platform for multi-store businesses provides more flexibility and visibility.
Facilitating an AR-Powered Shopping Experience
Augmented Reality (AR), Machine Learning, and Artificial Intelligence (AI) are three popular technology sets. These are the leading technologies that make daily life easier in various ways.
These technologies bridge the gap between digital and physical shopping. It provides customers with advanced ways to enjoy their shopping and billing.
Chatbots are beneficial for providing quick assistance to valued customers. It assists in any customer purchase journey from order selection to final billing, delivery.
It works well when you have limited in-person to provide customer support or avoid face-to-face support. In this pandemic, it has become more popular than ever. It provides customers with a more streamlined personalized experience, 24X7 support, and personalized support based on customer queries.
Once a user decides on a product, the chatbot directs them to the website to complete the purchase. Thus, it can provide goods to the customers associated with various store chains.
Establish a system for same-day delivery
Providing same-day delivery to customers can help your multi-store business grow and maximize customer retention.
Now, people prefer online home delivery. Thus, if you integrate your business delivery system with delivery apps, you will provide a better shopping experience to your valued customers.
With the Delivery application, you can track the location of your delivery boy and ensure on-time delivery.
Running multiple retail stores in different locations means having numerous employees and a management system for wholesale products.
Communication is the key, which facilitates smooth business processes and eliminates any chaos. An advanced retail multi-store management software can help you keep track of all store information from one place.
To know how multi-store retail software works or to get the best multi-store management software in India, you can get a free trial or contact our customer care team at swindia.com. They will set up a demo with you to learn the software features. This will enable you to see how the software actually works with your business and associated inventory.