As the global economy takes a nosedive, many retailers are feeling the impact of the downturn. Shoppers are now more discerning and conscious of what they purchase. Retailers are finding it increasingly important to increase efficiency not just at the backend but also at the store level.
While there are some retailers that have reduced their inventory and cut their staff strength to improve operating costs, there are many that have taken the alternative route to be precise in their inventory management and stock on saleable merchandise which customers want.
Retailers may take a hard hit during these trying times as consumers are more cautious with discretionary spending. The savvy businessmen are also tapping into the mindsets of bargain hunters by offering more lower-priced merchandise and rolling out more promotions targeted at specific groups of customers. However, what if there are empty shelves should consumer's power of spending improve or should some items sell better than others? Retailers are beginning to see the value in the use of technology to manage and avoid such scenarios.
Besides having an intuitive backend solution to manage inventory and warehousing, another area which can be instrumental in improving business efficiency and cost effectiveness without compromising customer service levels is the point of sale, or rather the point of service, at the store front. An effective point of sale software allows the frontline staff to be effective in customer service and administrator various store promotions with ease.
Some points for a good point of sale software would include:
– fast check out to reduce customer wait time
– merchandise availability checks which improves customer service
– an intuitive CRM program
– easy customer registration and management
– simple loyalty points award & redemption functions
– automatic promotions execution
– exchange, return & order merchandise from the front end
– control mechanisms to manage inventory, cash and customers
– full integration into an easy to use, intuitive & touch screen enabled system
– ability to generate a range of comprehensive reports
As a retail-focused solutions company, ETP has a proven suite of retail management software ETP V5 used by major retailers. Its ETP Store module is a cost-effective, comprehensive and intuitive point of sale software for retailers of any size. The ETP Store covers all key functionalities in POS, CRM and Store Operations required by the retail industry and can be easily integrated with the rest of the retail modules in ETP V5 or other solutions.