Do you know the average life expectancy for a retail POS system is roughly 6.9 years? Businesses have come to terms that they must take measures to address outdated POS systems in order to avoid facing compliance penalties, security risks, and to maintain their abilities to meet growing industry needs. Furthermore, businesses must also consider omni channel functionality. What do these things mean for attendees of the 2016 NRF Big Show? To put it simply: They should expect the prevalence of POS and omni channel retail software, and rightly so.
Online and in-store, retailers must recognize the need to invest resources into enhancing and understanding the customer experience. Implementing the right omni channel retail software is key. As a retail supply chain consulting firm, RPE will be an exhibitor at the NRF Expo. So, if you or a representative from your company will be attending the 2016 NRF Big Show, allow us to share a few solutions our experts think you should inquire about when walking the Expo floor.
Retailers face several challenges as they acclimate to an omni channel world. One of the biggest issues businesses typically confront is merchandise management. However, the right omni channel retail software can improve merchandising processes and optimize inventory. For example, omni channel retail solutions can unify databases and make information management easier by streamlining intelligence across multiple platforms, providing real-time information. Today’s merchandising solutions feature multi language, multi currency, Distributed Order Management (eDom), mobile, financial, reporting and BI analytics to help streamline the merchandising process so retailers can remain competitive. Merchandising solutions are a must-see at NRF.
Inventory Allocation and Replenishment
Is your current retail solution able to respond to customer behavior across multiple channels? If your business is going to operate in several channels, it better be able to fill, deliver and accept returned merchandise across channels as well. When evaluating omni channel solutions for inventory planning, allocation, forecasting and replenishment, retailers should investigate how omni channel software can streamline inventory distribution and replenishment processes. There should be a special emphasis placed on analytics that can accurately predict and adapt to brick and mortar and online customer demand.
Shoppers interact with retailers on many levels, one of which is through the use of mobile devices and social media. The mobile world often serves as a catalyst for sales, understanding and responding to this is key for retailers. Moreover, omni channel software solutions for retailers must be able to accommodate the mobile shopping experience. Omni channel software must also be able to collect data, record behavior, and offer ease of use for shoppers.
Point of Sale
You want your customers to click “buy,” and you want to enable them to do so from anywhere they’re browsing your inventory. You also need to maintain your focus on in-store shoppers. At this year’s NRF Big Show, inquire about the ways end-to-end software can marry on-line and in-store needs without compromising any other aspect of your business. Retail industry data notes that 6 in 10 retailers plan on replacing their POS platforms sometime during the next 24 months. NRF is the perfect opportunity to check out what’s available in POS for today’s changing retail landscape. Multi currency, multi language, clienteling, loyalty, mobile, kiosk and returns management are just some of the key features of modern POS.
Before you head out the door for the 2016 NRF Big Show, game plan a bit about what your business needs to grow, regardless of the platform in which your customers are interacting with your brand. Stop by RPE booth #3935 to discuss what we can do to get you working with the right omni channel retail software. As a leading retail consulting services provider, we specialize in getting the right solutions for our clients.