Most people think of the retail industry as primarily being the workers in the store straightening, cashing out clients, stocking the inventory, and other simple tasks. However, retail includes a lot of behind the scenes activities that require close monitoring and tracking to keep the business running smoothly. The right type of software makes management of the inventory, schedules, and communication much simpler.
Communication and coordination with headquarters to determine things like seasonal styles and marketing plans is necessary to keep a retail business looking consistent, no matter where it is located. As the company decides the best marketing strategies, such as banners and window dressing, and ensures consistency between their stores, having a way of mocking up a store and the desired appearance is very helpful. It is the best way of getting feedback from the stores to see what will work best for the different regions. It is also the best way of communicating changes and updates to the current appearance.
Through retail management software, setting up the schedule for sales and promotions helps to prepare for different seasons and to clear out older styles. The software can designate which items and styles will be put on clearance based on how well they have sold or the time of year. For example, tank tops are not going to sell well in the winter. Using trending and reports from the previous years, a company can determine when the best time for moving tank tops to clearance will maximize the pre-clearance time frame without taking away time and space for the new season’s clothes. However, most jeans will not need to be considered for clearance because they sell well throughout most of the year.
Knowing what is in the latest shipment is important for determining how best to display the styles. The right software provides enough information for managers to know how many of each type of clothing will arrive to plan for displaying them on the racks.
The holidays are always a challenging time, making communication and coordination between different stores very important for keeping the company look and feel. The shifts to longer hours and more staff can be difficult even with the best software. Planning and making contingency plans can ease the problems and minimize issues associated with managing a store around the holidays.
For smaller businesses with only one or two stores the right software can be more comprehensive. The retail management software can include payroll, inventory, employee schedules, purchasing, and transportation. It may take a little longer to find the right software package, but the investment will significantly help with growing the business. Consider purchasing software that has different levels of retailers. That way software upgrades will be easier to integrate than entirely switching software vendors.
Regardless of the size of the retailer, sales will always be a key element of a successful business. The right software can help set up ad campaigns and emails to maximize the potential customer base. It can also allow customers to sign up for newsletters and coupons. This can also be used for the many types of rewards programs and surveys.