Omnichannel Retailing: 6 Components Worth Your Time
In retail, profits are made when you buy your merchandise. If you overspend, you’ll spend your profits because you make them. If you buy the wrong products, you won’t sell your merchandise to the clientele you have.
While these truths are reflective of reality, it would be a mistake to assume that profits and buying merchandise are all that matter. You must also improve your customer service to keep your customers coming back. Improving your processes for efficiency will maximize profits, as well. Increasing the number of sales channels you have will also increase your profit opportunities. With this in mind, we offer these six retail management components to improve your omnichannel opportunities.
- Point of Sale – Without an efficient point of sale (POS) system, you can’t manage your customers, your products, or your prices. And with the right POS system, you monitor the performance of your employees and your inventory.
- Web Marketplace Integration – You aren’t truly omnichannel unless you have multiple online storefronts. Web Marketplace Integration makes that possible.
- Web Order Fulfillment – Web Order Fulfillment makes it possible for you to sell your products on your own website and fulfill orders the way customers want them fulfilled. It’s flexible while allowing for your customers to shop in-store or online, and it maximizes profits by putting your eyes on the information you need to maximize sales and profits in all the right ways.
- Mobile Point of Sale – Mobile Point of Sale empowers your employees to connect with customers in a way that customers want and need. You can customize customer engagement, increase employee productivity, improve the customer service experience, and increase your profits all with one tool.
- Planning (OTB) – Once you’ve connected all your channels, you should be able to make buying decisions that impact all of them positively and profitably. That’s where ChainDrive’s Planning (OTB) module comes in.
- Retail Analytics – You can’t be profitable unless you have a way to analyze the key information and statistics of your retail business. Track your KPIs more efficiently and make decisions more quickly.
If you truly want an omnichannel retail business, consider these six retail management components.