Did you know that one in four Indonesia household shoppers are now men? Or that Malaysian shoppers are the second most prolific promotion-seekers in the Asia-Pacific region? Over the past decade, the customer has evolved in how they shop, but have local and regional retailers caught on? In order to beat the competition, retailers must find new ways to understand their customers, see through the clutter, and react quickly to seize new opportunities.
Towards this end, technologies can help retailers improve and maintain their quality and speed of service, and make the right decisions. In this article, we list 10 ways that retail business applications can help retailers to take charge of their business.
"This is a huge benefit of working with a partner like Tectura. They are professional, have strong expertise and possess friendly attitudes that truly make their client feel comfortable and assured that the new solution will be accepted by the user and ultimately, bring good results to the company."
- Ms. Caecilia Mei. Hatjandra, general manager, MultiMart Indonesia
1. Forecasting Advanced Business Analytics
Customers are becoming much more demanding these days, forcing retailers to operate more promptly and efficiently. Retail business applications can help retail companies with forecasting that provide all departments with a common forecast to drive the retail business; as well as to improve efficiency by streamlining the forecasting process, highlighting potential problems, allowing the processing of large amounts of data quickly, and accurately forecasting sales using advanced algorithms on the sales data, past trends and industry patterns.
2. Streamlining Transaction Processing
A single platform (from Back Office to Store to POS) model that supports faster user uptake and proficiency. The solution integrates with a customisable POS screen allowing instant access to prices, productavailability and stock location. Retailers can access customer historical data at the POS, handle multiple tenders and partial payments at checkout and quick creation and process returns, back orders, sales quotes, work orders and layaways. The POS system with online and offline capabilities helps to enhance resilience. All these help retailers quickly respond to customer needs and provide personalised service to targeted customers.
In addition, it also supports expediting checkouts, targeting customer preferences to offer up-sells and cross-sells, and implementing automatic discounts for frequent shoppers; and helps retailers minimise fraud management issues - reduce instances of shrinkage, false returns, credit card fraud, and unauthorised discounts.
Tectura Insights (on points 1 and 2): Multi-channel operations and cross-channel opportunities are addressed by Tectura through our Retail Solutions built on Microsoft Dynamics technology. Data from all channels is centralised within a single platform and single application, allowing for multi-dimensional analysis, filtering and drilling down for individual transactions. All users will have access to the same data regardless of the channel they work on.
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