Retailers these days are aspiring for strategies to provide unparalleled services to their customers. Experimenting with innovative technology is one of the latest trends around, for instance, ERP Software for Retailers like LS Retail ERP is getting popular throughout the world due to its flexibility and scalability.  The urge to surpass competition is their driving factor.   There are “n” number of technologies claiming to be the best. However, choosing the ideal option is up to the retailer and his requirements. With a comprehensive evaluation, they can satisfy their customers and thrive in the retail market.   To produce an appropriate strategy, there are certain questions a retailer must ask himself. Without a legit evaluation, randomly following a path becomes risky. Given below are six must self-ask questions.   Q1: What platform do your customers prefer for shopping?  Identify the platforms your customers are driving to, i.e., is it online or offline. How many purchases do they make through their smartphones? How do they like to pick up their orders? Is it online or offline? What services are they looking for while shopping? Make sure you use an ERP Software for Retailers to integrate your platforms and deliver more convenience while shopping. If you want to understand their spending pattern and preference, you may as well use AI-based technology that collects customer data, evaluates their pattern, and generates insightful reports.   Q2: When do they shop, and how easily do you refer to related items?  This is an essential aspect of good upselling. Identify when they shop and what they are interested in. Notice when they prefer to make purchases on a certain item at a specific time. If you fail, you are slipping the opportunity to make additional sales. BI tools, in this case, can be useful to you. They identify what products they are constantly visiting online and make purchases to make relevant product references.   Q3: What is their most preferred communication channel?  Even though Omni-channels customers desire to communicate via different mediums, there are still some ways that stand out for them. The key is to identify those segments and apply the right strategies and campaigns there. This can bring a significant business inflow. Use the right technology to identify every possibility that can bring new businesses in.  Q4: How do you create loyalty programs?  Do you randomly create loyalty programs for your customers based on trends? or do you actually think about it and then act? Do you segment your customers and provide suitable programs for each group? Do you have a suitable technology that supports loyalty programs?   ERP Software for Retailers is the best platform that helps you generate effective loyalty programs. It uses power BI to extract customer data from every point. It can read and identify their spending patterns while segregating them into different groups enabling you to create suitable offers and deals for either different groups or individuals.   Q5: How many customers of yours use social media?  These days, most people are scrolling through their social media and getting influenced by certain products they come across. Social media is a terrific way to monitor customer feedback and encourage them to purchase new products. Some companies even enable “buy now” buttons on their social media. It is smarter to foster a new product drive via the platforms your customers already love.   Q6: What is your overall management technology like?  Some companies pose to be the best omnichannel providers in the market. However, you cannot risk trusting just anyone randomly, you must conduct thorough research and then opt for the right service provider. We recommend using a ERP Software for Retailers like LS Retail, which delivers the most robust omnichannel solution without fail.   Businesses that use disparate systems for different activities end up falling into complications, the data right is nowhere to be found when needed the most. If you use different systems, you need more time and a dedicated IT team for their maintenance and updates. LS Retail ERP on the other hand is an extension to Microsoft Dynamics 365, which frequently updates your system without disturbing your business’s ecosystem and provides major updates twice a year after notifying you about it prior. Moreover, the maintenance is undertaken by the company itself, so you can engage your workforce in other productive activities.   If you are looking for ERP Software for Retailers , contact Trident Information Systems for a demo. We are the LS Retail Gold Implementation Partner having a large team of experts and a robust record of accomplishment.  

When it comes to cost-cutting, many retailers might find it hard to process it without Retail ERP Software. Look for unified Retail Management Software that encompasses each area impacting immensely on costing like inventory management, warehousing, supply chain management, and so on.   As a retailer, costing is supposed to be on the radar. It depicts how well your business is doing and what changes you need to implement to avoid costing challenges. It is a matrix that needs to evolve consistently.   LS central is an extension to Microsoft Dynamics for Retail Industry offering a complete suite for retail business management. Hence busting common challenges retailers encounter such as:  Lack of Visibility: Visibility is the most important part when it comes to cost-cutting, lack of real-time data can lead to some confusion and drive over or under inventory purchase. It makes it harder to identify areas where you can potentially cut costs and lead to waste.   Competition: Neck-to-neck competition in retail is obvious. Due to many contenders and constantly changing customer demands. Everyone is striving to be better than one another. Adopting technologies to upgrade their services and get ahead of the crowd.  Brand Positioning: having an appropriate pricing strategy goes hand in hand with how you want to position your brand in the market. Sometimes it gets a little tricky since the customer can take it otherwise. For instance, lowering prices can leave an impression of having inferior quality, and the buyer does not take it seriously.   Improper Discount Planning: discounts must be planned very carefully. Indeed, they can drive customers in. However, sometimes it can turn the tables around. Stock clearance sales are ideal for discount implementation, but improper discount planning can lead to product quality suspicions. You might also end up drawing a discount-driven crowd or customers that do not provide repeated business.   How To Cut Costs and Boost Profit with LS Retail?  LS Retail is a Retail Management Software and an extension to Dynamics 365 for retail which provides a dynamic environment required to run a retail business. Manage your business centrally and get real-time visibility, keep tabs on your inventory and avoid overstocking. Embrace its features to reap maximum benefits   Centrally Manage Your Retail Business   Whether you run a single shop or own a multi-complex, it is of no concern. Have real-time visibility and control over your retail business with a Unified Retail Management Software. With automation, plan costing, and product pricing with accurate data analysis. Manage your business even if you have different chains in distinct locations. Ensure a free flow of information, save time, efforts, and costs which you would have otherwise on manually doing everything.   Cut Operational Costs with Mobile POS   Adopting a unified mobile POS that integrates sales, marketing, and inventory within a unified Retail Management Software can save you much more than a sole purpose POS. Apart from that, cut down on overtime and excess staff as much as you can. Avoid using tissues, extra bags, and excess packing as much as possible. A mobile POS helps you automate tasks as much as possible. You no longer must fill in data repeatedly. Most of the recurring transactions are automated, sparing your staff enough time to spend their efforts on other productive activities.   Get Real-Time Visibility  LS Retail provides The Best Retail Management Software you get real-time visibility essential to identify cost-cutting areas and strategize profit-boosting ways. Identify if you are overstocking your inventory. check if your technology has become obsolete and needs an upgrade. Spot operational areas are working insufficiently and need attention. Get real-time market analysis and figure out what is in demand, see if you are not excessively stocking the inventory that is not in demand.   Be Fast and Flexible with Omni-Channel   The Omnichannel provides enough flexibility for the customers to order a product online if available. They can review various products at the same time and decide whether they want it delivered to their home or would like to pick it up. Empowering your staff with a mobile POS leads to more flexible payment processing and better assistance to the customer regarding purchasing a product. Even if the staff is busy enough to process payments, the customers can still help themselves with self-checkout.   Utilize Predictive Analysis   Optimize accurate demand forecast analysis and generate better replenishment strategies. Cut time and efforts on order processing with rapid facilities, scan-based receiving and automatic put away, and inventory counts. This helps enhance store floor accuracy and improve overall store performance. You minimize waste and add up to the profit.   Generate Smart Loyalty Programs   Microsoft Dynamics 365 for Retail extension helps generate offers, deals, loyalty programs, and so on. Strategize discounts more smartly with accurate data analysis targeting customer behavior. Identify the right opportunity to launch a specific deal. Ensure customers provide repeated business.   Identify Waste Patterns    Identify the waste patterns and make necessary adjustments. Spot items that are not much in demand or not in demand at all. Reduce manual work and encourage your staff to optimize automation as much as possible. With a Retail Management Software you can get customer sales reports, manage inventory and identify the right product mix to meet the sales goals. Cut costs and save time with replenishment and standard stocks.  Select the Right Implementation Partner  Being stuck with the wrong implementation partner can cause you some serious financial damage. Not being careful enough can lead you to the hidden cost trap. Since this partnership lasts for up to five years, be careful with who you tie up. An ideal implementation partner keeps things crystal clear about their services right from the start. It is recommended to choose someone with years of experience and happy clientage.   Cost-cutting and boosting profit margin get easier with automation. Having a suitable Retail ERP Software such as LS Retail does the job perfectly. A complete suite offering every necessary tool within the same environment can not only optimize business operations but also cut unnecessary costs, giving your business a profit boost. Choose a