Today’s Retail Market is Different. You Need to Adapt
Today’s retailers are facing a completely different business landscape than ever before. With the increase in global competition combined with more informed buyers, reaching your sales targets and retaining customers is becoming more and more difficult. You’re not only competing with other retailers, but also with the excess of information consumers have at their disposal. From price comparisons to online reviews and polling via social media, today’s buyers make much of their purchase decision before they even arrive in your store.
Changing Customer Requirements
You need to effectively handle your in-store operations so that your customer experiences are seamless. That means having the right items in store, ensuring your prices are competitive, and managing your promotions for optimal performance. Attracting and converting costumers is one thing, but you also need to retain them. You need to give your customers what they want, so they have no reason to look elsewhere.
Specific Inventory Challenges
Adequate inventory is necessary if you want to serve your customers. What’s more, overstocking items can cost your business exponentially; and getting caught with off trend or off season inventory is guaranteed to frustrate your customers and stall sales. In retail, you need to constantly evaluate what you’re selling. You need to be predictive, so you can be profitable.
As the world shrinks, competition grows. People are no longer confined to their city; they are shopping in neighboring cities, provinces and across the border which gives them more access to a wider variety of products. If you don’t have what they want, they will find it somewhere else. Watching trends, being involved on a social level and paying close attention to the buying habits of your customer base is a necessity.
Whitepaper: 7 Retail Management Software Selection Mistakes That Spell Failure
Retail management software selection is an inherently complex decision. For an average mid-market organization a core business software solutionDownload "7 Retail Management Software Selection Mistakes That Spell Failure"
We Can Move You Forward
BDO Solutions can transform your retail operation so you can compete effectively in today’s retail world. Our POS software solution, which is built using Microsoft Dynamics business applications, does more than simply manage things at the point of sale.
“ Everything you have done for us has been first class...from installation to training to support. In an industry that is known for not living up to expectations, all the people at BDO exceed our expectations constantly. ”Richard Kelly at R-can Environmental —
A retail and POS software solution from BDO Solutions offers:
Improved Customer Interactions:
Target your promotions and marketing campaigns more directly, and increase social media use to connect with your current customers, increase loyalty and attract new buyers.
Strong Inventory Management:
Have the inventory you need to satisfy every customer, reduce overstock and respond quickly to inquiries for complete inventory control.
Make the right financial decisions with better reporting, centralized control for multi-store chains, and real-time data.
Make more informed decisions with Business Intelligence and Corporate Performance Management for increased efficiencies when it comes to planning, budgeting, forecasting, consolidation and reporting.
Identify value added suppliers, get the best prices, and make better choices about product selections.
Respond faster to customer inquiries, recognize upsell and cross-sell opportunities and provide better customer service.
Bring more people in store, boost online sales and link in-store and online store systems to offer all types of customers a consistent experience across your entire organization.
Case Study: Humber Students' Federation
This case study showcases how BDO designed and implemented a system for Humber Students' Federation (HSF). The new system consists of a varietyDownload "Humber Students' Federation"
Your retail organization has the opportunity to flourish in today’s retail landscape, and BDO Solutions can help with a POS and Retail Management software solution powered by Microsoft Dynamics. Our retail software experts are ready to help you move your business forward. Contact us today!
Mike was a partner with MDKS Solutions Group and McMane Dunkel Kingston Stranz LLP when his firm joined with BDO Canada LLP in July 2009. He has over 15 years experience with accounting software design and implementation, network security, e-commerce and web integration.
Ask Mike a Question or Call (519) 772-0334
BDO Solutions serves clients across Canada including: Alberta, British Columbia, Saskatchewan, Ontario, Manitoba and Nova Scotia. We serve the metro areas of Vancouver, Calgary, Edmonton, Winnipeg, Brandon, Mississauga, Toronto, Barrie, Markham, Kitchener, Waterloo, Guelph, London, Red Deer and Halifax.