If you’ve heard that retail stores are dying, you might want to consider some new data released last month. According to IHL Group, retailers are opening 4,080 more stores in 2017 than they are closing, and plan to open more than 5,500 more in 2018. In fact, for each company closing a store, 2.7 companies are opening stores.
Are you considering opening a retail store? If so, have you considered what type of point-of-sale (POS) system you will be using? Remember a POS can do more than just sales transactions, and for that reason alone, it can be challenging to figure out which one fits your business best. Here are a few things to study when you make your choice.
Consider Your Needs First
Before you start looking, make a list of what you need. There are quite a few systems out there and each one boasts features and benefits. Don’t just pick something because of the cool things it can do. Make sure it fits your store’s needs.
If you are considering a rewards/loyalty program, POS software can help you keep track of your customers’ purchases, frequency of visits, dollars spent, and more. Then send personalized emails that cater to their shopping habits. Plus, use the data to help make informed decisions about store inventory.
How many blue sweaters do you have in your store? You don’t want to run out if they are selling quickly, and you don’t want too many if they’re slow to move off the hangers. Always know exactly what you have in stock in real-time with your POS.
Ease and Integration
Make sure the POS you choose is easy to use for your staff. You don’t want to consult your manual everyday.
Ask yourself these questions. Will it integrate with your other software and equipment? You don’t want to spend time transferring information from platform to platform, introducing opportunity for human error and wasting time. Can it access data from your logistics and supply chain to instantly update inventory and order information? What automations does it offer?
Analytics and Data
Make sure you can pull data daily, weekly, monthly, yearly, etc. You’ll need to watch your sales, watch your employee’s sales, and more. A quality POS will even help you analyze and forecast making decision-making for you a lot easier.
Once you understand your needs you can quickly eliminate providers that don’t work for you. Choose your top three and schedule a demo. Leave no question unanswered and then make a decision.
Only you know what POS can make your business run smoothly, and if you follow the guidelines above you are that much closer to making a solid choice. Is Bepoz one of your top choices, if so schedule a demo today!