Retail execution software solutions have become increasingly popular worldwide, thanks to their ability to streamline operations, reduce costs, and improve customer experience. The survey titled "The State of Retail Execution 2021"¹Retail Systems Research carried out "The State of Retail Execution 2021" survey in which 94 retailers worldwide responded. found that 62% of retailers globally are investing in solutions to enhance their store operations and customer engagement. The same survey also found that retailers who have adopted said software reported significant improvements in their business performance. For instance, 57% of retailers reported an improvement in sales performance, 56% an increase in productivity, and 52% an increase in customer satisfaction. These results indicate that retail execution software can help retailers achieve their business objectives by providing them the tools they need to improve store operations, sales, and customer experience.

To stay competitive in today's retail industry, it is essential to continuously adapt to customer behavior and make data-driven decisions. Investing in the right software solutions can help retailers to do just that. Below we'll explore five must-have retail software solutions that can help optimize store operations, reduce costs, and improve overall business performance.

Store Operations Management: Nimbly Technologies

Nimbly is a retail operational excellence platform that helps simplify store operations, manage frontline workforce, and elevate customer experience. On average, Nimbly has been able to save retailers like Wrangler and Adidas²The Wrangler and Adidas brands referred to in this blog are those operating in Indonesia and managed by Delamibrands., over 11,000 hours a year, in addition to uncovering previously unknown shrinkage and improving mystery shopper scores. All of these accomplishments are enabled by Nimbly through better visibility across all store locations in real-time, as well as improvements in visual merchandising compliance, promotional execution, inventory management, cash handling, and store staff upskilling.

Key Features:

• Real-time dashboard of store and brand performance 
• Standard Operating Procedures (SOP) guidance, compliance, and scheduling 
• Issue tracking and management 
• Voice of Customer with automated issue assignment to relevant departments
• Gamified Learning Management System

Benefits:

• Insightful, real-time data for better decision-making and performance tracking, including customer feedback
• Enhanced compliance and consistency throughout all retail operations, boosting customer experience 
• Streamlined communication and improved collaboration across all departments and layers, leading to an increase in productivity, efficiency, and reduced costs

Point-of-Sale (POS) and Payments: Lightspeed POS

Lightspeed is a cloud-based POS and payment processing platform that offers an intuitive interface, fast checkout times, and efficient inventory management for enterprise retailers. Its loyalty program integration allows businesses to build and maintain customer relationships, increasing revenue and customer satisfaction.

Key Features:

• Contactless and customizable payment options
• Real-time sales analytics and reporting
• Loyalty program integration

Benefits:

• Simplified payment processing, reducing friction for customer transactions 
• Access to real-time sales data and analytics for better decision-making
• Increased efficiency in managing inventory and tracking sales, leading to better cost control and profitability
• Repeat purchases by offering rewards and incentives, ultimately increasing customer lifetime value through the Loyalty program integration

E-commerce: Shopify

Shopify is an e-commerce platform that allows retailers to build and manage their online stores in days, even hours. The platform helps businesses customize their product assortment to their target audience, while collecting data to understand the different brands’ customer purchasing behavior.

Key Features:

• Customizable templates for online stores
• Order fulfillment
• Marketing tools and abandoned cart recovery
• Customer engagement features like live chat and product reviews
• Integration with various payment gateways and shipment providers

Benefits:

• User-friendly e-commerce platform, allowing for easy online store creation 
• Increased conversions and revenue through better customer insights and broader outreach
• Ability to expand and grow online presence through various channels, including social media and marketplaces

Business Intelligence: Sisense

Sisense is a business intelligence platform that helps businesses turn complex data into actionable insights. It allows businesses to connect to various data sources, including: spreadsheets, databases, and cloud services, and generate interactive dashboards and reports to visualize and analyze data. With Sisense, businesses can gain a deeper understanding of their operations, customers, and markets.

Key Features:

• Data visualization, modeling and analysis
• Dashboard creation and customization
• Integration with machine learning and AI tools for predictive analytics

Benefits:

• Improved decision-making and performance through data-driven insights
• Scalability to handle large and complex datasets, making it suitable for businesses of all sizes
• Enhanced collaboration and knowledge sharing, enabling businesses to leverage the collective intelligence of their teams and partners

Customer Relationship Management (CRM) Software: Salesforce

Salesforce is a cloud-based CRM platform that allows retailers to manage all customer interactions and data in one place, providing a 360-degree view of each customer. This helps retailers to tailor marketing campaigns, provide personalized recommendations and support, and ultimately drive customer satisfaction and retention. With Salesforce, retailers can also automate many of their sales and marketing processes, freeing up time for more strategic initiatives.

Key Features:

• Lead management and segmentation tools
• Marketing automation and personalization features
• Customer service management 
• Mobile app development for creating branded apps and improving customer experience

Benefits:

• Better understanding and targeting of key customer segments
• Improved customer support, satisfaction, and loyalty
• Streamlined marketing efforts and increased reach

In conclusion, investing in suitable retail execution software solutions can be a game-changer for retailers looking to gain an edge in today's market. By streamlining operations, optimizing sales transactions, analyzing data, building customer relationships, and expanding online presence, retailers can improve their overall business performance and deliver a better customer experience.

Want to get a headstart? See why Nimbly is a favorite among retailers who want to simplify their operations and elevate customer experience through better store-level retail execution.

• 1
  Retail Systems Research carried out "The State of Retail Execution 2021" survey in which 94 retailers worldwide responded.
• 2
  The Wrangler and Adidas brands referred to in this blog are those operating in Indonesia and managed by Delamibrands.