Top 10 Features to Look for in Retail Management Software
April 11, 2023 - 12 minutes readThe key attributes of modern retail software uncovered.
The world now moves to the beat of a digital drum. As a modern retail or eCommerce business, offering your consumers the best possible level of customer experience (CX) is essential
To meet and exceed your customers’ expectations across channels, you need to be super efficient—both in-store and virtually. That’s where retail management software comes in. With the right retail management platform for your business, you can manage every key aspect of your business with razor-sharp efficiency, accelerating your commercial growth.
But while there are seemingly infinite options out there, not all retail management systems are made equal.
Fortunately, we’re here to tell you exactly what to look for in the best retail management solution for your business.
Ready? Let’s dive in.
The power of retail management software explained
Before we consider the top ten features to look for in an effective retail management system, we’re going to consider the main benefits.
Did you know? 91% of shoppers are more likely to buy products in stores (or online) that provide a more personalized experience.
Any retail management software worth its salt is salt will give you the power to:
- Understand your customers better and provide a more personalized experience across channel
- Improve your omnichannel marketing campaigns and communications across channels
- Decrease operational costs and improve efficiency both in-store and online
- Enhance your POS system and strategy to streamline sales activities
- Make your inventory management efforts more effective and scalable
- Offer everyone in the business access to the tools and insights they need to do their job better
What to look for in retail management software: 10 key features
Now that you’re up to speed with the business-boosting benefits of retail management software, let’s explore the ten essential features to look for in the right tool for the job—starting with the ability to “go mobile.”
Mobility and offline access
When you’re looking at a potential retail management solution, you should consider its capabilities in terms of mobility.
When you’re exploring your options, choosing a solution that offers you 24/7 mobile access to the insights and tools you need is vital.
If your retail management platform also allows you to access certain features and data while offline, you will be able to remain efficient in every situation, regardless of where you are in the world. If your software allows you to log in, grind down, and tackle emerging issues while on the move, not only will your productivity soar, but you will become more responsive to any situation.
Easy to use interface
If you want to improve your retail or eCommerce business across the board, choosing retail management software that is accessible is vital.
If everyone in the business can master the basics of your software’s interface swiftly while squeezing every drop of value from the tools and insights on offer, the business will thrive. Time is money, and the last thing you want to do is spend weeks or even months trying to get your head around an interface that should be offering benefits.
Retail software with easy to use interfaces will have:
- Interactive visuals and charts that are easy to understand
- Helpful prompts and hints as you navigate your way through the software
- A knowledge base that offers engaging tips and tutorials
- Drop boxes, easy-to-fill forms, captions (where relevant), and other accessible features
Plenty of integration options
Another essential feature of any effective retail management solution is its ability to integrate with other tools and systems.
As a busy retailer in today’s hyper-connected digital age, there’s little doubt that you have existing tools or platforms that you use for various activities.
If your retail management system allows you to integrate your existing systems with ease, ensuring that everything you need to succeed is at your disposal. For instance, you could quickly integrate QuickBooks ®, Magento, MS Office ®, BigCommerce, Shopify, eBay, Amazon, and ShipStation to create an informational nervecenter for your business
Check the integrations that your potential software choice offers and if it allows you to plug your existing tools into the system.
Quick product lookups
As you’re required to manage several channels and touchpoints at any one time, having the ability to lookup products will keep your momentum going, even under pressure.
Handy shortcuts like quick product lookups will help you deal with online as well as in-person inquiries both swiftly and with razor-sharp precision. A quick product lookup will also help you check sales data, stock levels, and product page content with ease.
Simple and effective data filters
Another piece of functionality you should look for in retail management software are simple yet effective data filtering options.
By being able to look at a specific area of the business (sales, marketing, consumer buying behavior, stock, shipping, etc.) and apply a filter with ease, you will be able to access the insights you need most exactly when you need them.
Say that you’re writing a last-minute marketing email for a quick seasonal promotion and want to see which products are selling the most units for a specific segment of your audience, you will be able to apply a quick filter to find the best recommendations for your content, enjoying a healthy return on investment (ROI) for your efforts.
Customization options
Another important feature to look for in the right retail management system is the option to customize the interface to your specific needs.
Customization options will empower you to change the look as well as the feel of your software and make it as navigable as possible. Being able to customize your interface will also allow you to create layouts that make accessing the right information at the right time quick and convenient.
You will be able to display the data and visuals that offer the most value to your business while developing a design that works best for everyone in the business—doing so will ensure you enjoy a consistently healthy ROI from your retail management system.
Solid permissions and user account options
Any worthy retail management system will give you the option to set various user permissions based on the access that any one person in the business needs to perform to the best of their abilities.
Some people might only need access to customer-based data, while others may need to look at sales information or stock levels. More senior people within the company will need access to a wider range of tools. Some external suppliers may also need access to certain parts of the system to access fulfillment insights.
Being able to manage your permissions without difficulty will not only protect your business from any important information being accidentally breached or tampered with but also create a sense of cohesion and communication across the business.
Inventory management capabilities
As a retailer, the way you manage your inventory will have a tremendous impact on your business. So, when you’re considering your retail software options, choosing something with superior inventory management features is a must.
If you can manage your stock and inventory with confidence, you will improve your overall operational efficiency while consistently meeting your suppliers’ as well as customers needs. This, in turn, will boost your brand reputation while making you more profitable.
Read: Inventory Management Best Practices: How to Manage Inventory the Right Way for more practical tips and advice on the subject.
Excellent customer support and service
Last but certainly not least in our top ten retail management features rundown, we come to customer support.
As a go-getting retailer, you will know just how important customer service is to the ongoing success of your business. With this in mind, you should turn the spotlight on potential providers when weighing up your retail software options.
It’s essential that the retail management software provider you choose is known for exceptional levels of customer service and support. If you experience a software issue or you get stuck with a particular platform feature, it’s vital that you know you can get the support you need swiftly.
The lesson: always make sure that your retail management software provider has plenty of positive customer reviews and testimonials, particularly when it comes to customer service and support.
“People like consistency. Whether it’s a store or a restaurant, they want to come in and see what you are famous for.”— Mickey Drexler
Use this essential features list as a working checklist when considering retail management software options and you will find the perfect platform for your business. Check out our popular retail management solutions, and if you have any questions, please get in touch—we’ll be happy to help.
