In today’s retail industry customers have a wide variety of options available when looking for goods to buy. With the increase in the number of retailers during recent years, the amount of information available to customers has also increased. Customers these days spend lots of time researching their desired products and shopping experience related to them. With the continuous change in the retail industry and customer requirements, the industry players always face new challenges to keep growing.
Our experience in Retail Industry
ITTI is a leading Microsoft Partner with a major focus on LS Retail and Business Central for APAC, NAM, and EMEA Regions. ITTI’s service offering includes Implementations, Roll-outs, Upgrades, Customization, User Training & Application Support (Functional & Technical). ITTI’s team of experts has helped many organizations to achieve their business goals with the help of LS Retail. ITTI’s team of experts have retail experience in Hypermarket, Fashion, Luxury perfume, and groceries domains.
Issues in Retail Industry
- Managing store operations – To run a retail business smoothly many aspects should be handled carefully like inventory, internal communication, sales, and Customer data. With so much to handle together one of the biggest mistake retailer does is neglecting day-to-day store operations. These days with a wide variety of both online and offline options a customer would always prefer a seamless experience in the store.
- Dealing with Data – Retail sector plays a very essential role in a customer’s daily life. With the constant change in the retail industry business need to adapt the new trends, customer preferences, and technology to keep growing. Businesses can successfully implement all these if they analyze their data properly. Retails need new software and plans to be successful in the rapidly changing landscape.
- Failing to adapt – With the rapid change in customer behavior retailers should be able to meet customer expectations. To fulfill the customer need the retail needs software which will provide them with customer insights otherwise if a small business is outdated there is a high chance that the business will not achieve success. Retailers can understand customers’ needs and can plan to fulfill their needs with the help of analytics.
- Managing customer loyalty – Customer experience is the biggest contributor to brand loyalty. To make a customer brand loyal business has to make sure that they have a good experience with the brand. One of the common mistakes retailers does is letting go of their customers thinking they can be easily replaceable. But with this kind of business strategy, it will be hard for the business to sustain in the market.
- Retaining & engaging employees – The employee turnover rate is always high in the retail industry. Retaining an employee is very difficult in the industry and while replacing them businesses have to invest more time and money. To solve the issue business needs software to keep the employee connected with the organization.
Solving the issues with LS Retail
- Single solution for all business functions – With the implementation of LS Retails Business will get a solution for all business functions. LS Retail will provide the business with a platform to manage all the business processes including inventory, internal communication, sales, and Customer data. With all the business data in place, you can make your decisions faster and more effectively.
- Point of Sale (POS) – Point of Sale (POS) is one of the many beneficial features of implementing LS Retail. Point of sale not only deals with closing a sales process it works as a smart assistant for your employees. Employees can get the details like products, inventory, and customer preferences which will help them in providing personalized services to customers. Point of sale (POS) works both offline and online which means you can continue to sell and serve your customer even if your internet is down.
- Analytics – LS Retail collects all the business data in one place and gives you actionable and meaningful insight. With LS Retail a business receives all the necessary data and reports on time just when the business needs it the most. LS Retail’s LS Insight functionality provides business analytics. The reports provide a graphical representation of Customer demand, Revenue generating products, Business expenditure, etc. which helps the business to predict the future and plan accordingly.
- eCommerce – For the seamless operation of your business both offline and online it is always suggested that you use the same software to manage both businesses. With LS Retail business, customers can choose how they prefer to browse and shop. LS Retail helps customers with all the necessary data like availability of stock if home delivery is available or if they will have to pick from the store. It will also show customers personalized product recommendations based on their shopping and browsing history.
- Loyalty – In this rapidly changing retail industry to make customer loyal businesses should always reward it’s repeat customers. With LS Retail businesses can give offers and promotions specific to individual customer’s needs. Businesses can easily create and manage offers and loyalty programs with LS Retail. Businesses can also easily set up their Loyalty programs to reward repeat customers.
- Staff Management – Retail industry faces the highest turnover rate. To solve this businesses should be in touch with employees always. With LS Retail businesses can plan training and development activities for employees and make them feel appreciated in the organization. Businesses can plan and track working hours, leaves, and employee attendance with the help of LS Retail.
- Inventory Management – Inventory management plays a very crucial part in the retail business. With LS Retail businesses can manage their inventory and supply chain seamlessly. LS Retail help businesses easily monitor available stock, set reorders, and manage stocks between warehouses and stores to ensure the stocks are always available in stores.
LS Retail is the best solution for smooth operations and overall efficiency of a retail business. It helps businesses manage their sales, supply chain, inventory, employees, and customer service. With LS retail businesses can provide the best shopping experience for their customers. ITTI is a Microsoft Dynamics Gold partner with a team of professionals who are experts in Implementations, Roll-outs, Upgrades, Customization, User Training & Application Support (Functional & Technical). We will provide you with the best solution for your business.