retail store

The Power of a Flexible Order Management System

Your business might have invested in a heavy-duty order management system within the last decade or few years. But in today’s digital-first retail environment, these legacy systems often don’t have the flexibility to perform under pressure.

For ecommerce—and particularly apparel sales—it’s never been more important for brands to take a more innovative approach to order management. Although worldwide retail sales are projected to top $26 billion in 2022, it’s no secret that the pandemic introduced new challenges to retail.

Legacy order management systems (OMS) simply aren’t a fit for the post-pandemic world. Retailers now have to be flexible and agile as well as implement technology that allows them to operate as lean as possible. 

That’s why a flexible order management system is crucial. This post discusses the capabilities of a flexible OMS and how one can take your retail business to the next level.

What Can a Flexible Order Management System Do?

An order management system is an essential piece of retail technology. It allows you to track all inventory and orders in one place, bringing point of sale and ecommerce data into one intuitive dashboard.

But not all OMS’ are the same. Retailers need to invest in a flexible OMS to stay at the forefront of modern retail and deliver an exceptional customer experience.

Below, we highlight the capabilities of a flexible order management system.

Enable Inventory Visibility Like Never Before

Where is your inventory right now? Are you at risk of stock-outs? Flexible order management systems allow you to see all of your inventory in real-time. See what’s in transit as well as what you have in-stock at each store and warehouse location. The system will even help predict when it’s time to reorder, so you keep the right amount of product stocked across locations at all times. 

An unprecedented view into inventory also makes it possible for you to manage returned inventory more efficiently. A flexible OMS gives your team a defined flow to integrate these products back into inventory.

A flexible order management system also allows brands to alter inventory levels and product assortments on a dime depending on where customer demand is. This was crucial during the pandemic when many customers flocked away from cities and into the suburbs or even resort communities. It’s crucial to be prepared for the possibility that a low volume store may quickly become high volume.

Save In-Store Sales

With enhanced inventory visibility also comes the ability for store associates to check on stock levels for items in-store without ever having to leave the customer’s side. Offering this experience, opposed to walking away from the customer to check in the back of the store, can be the difference between losing a customer and saving a sale. 

If an item is out-of-stock, a store associate can look up inventory levels at nearby store locations on their mobile device and offer that item to the customer. With this endless aisle technology, you can ensure the customer is still able to walk out of the store having purchased what they are shopping for.

Get Products to Customers Faster and How They Want

A flexible OMS allows for item-level order routing, which is crucial as customers demand cheaper, faster shipping. In fact, 66% of shoppers expect free shipping on every ecommerce order, which means your brand is likely footing the bill for shipping. Flexible order management allows you to optimize how orders are fulfilled. Ship items from warehouses or stores that are near the customer to reduce transit time and costs. 

You can also offer customers more choices for how they receive their items. For example, customers may want to buy online and pick up in-store (BOPIS) or utilize curbside pickup. Instead of giving shoppers just one option, your OMS can give shoppers the omnichannel fulfillment options they expect. 

Build Deeper Customer Relationships

According to research from Microsoft, 58% of shoppers will stop buying from your brand if they experience poor customer service. Since over 13% of retail purchases happen online, it’s critical for retailers to give shoppers a great experience not only in-store but also online. 

A flexible OMS allows you to deliver top-notch customer service by giving store associates or customer service staff immediate access to pertinent shopper information, such as transaction history across channels. When you can view online orders and in-store sales in the same place, you make the transition between the two channels seamless. This also allows you to easily make order modifications and streamline the return and exchange process. 

Further, having a clear window into your customers’ history allows store associates to more thoroughly and personally cater to their specific needs as well as discover patterns among shoppers. By identifying these trends, you’ll be able to shift your strategy and adapt more quickly to unexpected scenarios. It’s the kind of durability and preparedness that’s necessary, especially after COVID-19. 

Choose a Flexible Order Management System

Omnichannel retail is already here, and in the shadow of the pandemic, it’s the standard shoppers expect. The buyer experience is far from fluid, and that can make for a lot of chaos without the right system in place. 

Switch to omnichannel order management solutions that allow your team to pivot quickly while better managing expenses. With real-time data, your OMS gives you a single source of truth across all channels. 

If you want your brand to compete in the modern world of retail, go with a flexible order management system. Sign up for a free demo of our cloud-based order management.

las vegas strip at night

3 Key Takeaways from Shoptalk 2019

More than 8,000 retail industry professionals descended upon Las Vegas earlier this month for the annual Shoptalk conference. It’s an event we’re always excited to attend, as it brings together some of the best and brightest in retail, commerce and technology.

NewStore exhibited alongside other innovative tech companies, and members of the team spent time taking in the various content tracks. Here are a few topics that stood out to us, and we encourage you to keep a pulse on.

  1.  Data Is A Tool, Not a Solution

The retail industry has been talking about data for many years now. There were several sessions dedicated to it at Shoptalk, and it came up in conversations about nearly every topic: content, marketing, privacy…you name it.

Simply having data is not the end game, though. “Getting to act on it is the most important piece” of the puzzle, proclaimed Sarah Engel, VP, Marketing & Creative Communications at Lilly Pulitzer in one talk. Greg Fancher, SVP & Chief Information Officer of Express, echoed the sentiment in another.

Retail has long had an abundance of sales data, yes. But omnichannel retailing has unlocked entirely new datasets that the whole organization can put to work. This is critical, according to Engel. She urged companies to “democratize data, not weaponize it.” GUESS?, Inc. formed an Innovation arm with a similar point of view in mind, with folks from retail operations, digital, etc. now sitting around the same table. It’s a “power team” that understands both the science and commercialization of data.

Today, there is data that can influence and measure the entire customer journey. It can inform product design and development, marketing and merchandising, customer experience and more – and deliver real business impact.

The resounding message coming out of Shoptalk, and one of the key things to remember about data, is that it is a tool – not a solution.

Photo Courtesy of Shoptalk

  1. Service is King

More and more brands are trumpeting their desire to be known for service – the specific services they provide and how they contribute to the overall customer experience.

Take Crate and Barrel for example. Neela Montgomery, CEO, spoke on stage about the brand’s mission to blend digital solutions with personalized services. Customers can work one-on-one with staff members in-store or online for design guidance. With the Crate Design Studio 3D Room Designer, powered by Modsy, shoppers have the ability to see products in their own homes before they buy. According to Montgomery, customers spend on average $1,000.00 more when they utilize Crate and Barrel’s premium design services.

The services don’t stop there. Crate and Barrel will continue to push the boundaries around events and services, with a restaurant concept coming soon. It’s a way to celebrate food and entertaining (a core product category) while giving customers another way to engage with the brand.

During a separate panel, Karin Tracy, Head of Industry, Retail/Fashion/Luxury at Facebook said: “Services need to offer utility, experience or both.” And she’s right.

The service you deliver and the services you offer should bring real value to consumers. It’s not only about them walking away with your product, though; you need to show that you exist to serve them as an individual. 

Photo Courtesy of Shoptalk 

  1. Unleashing the Store Associate

What’s always on the mind of Lowe’s CMO, Jocelyn Wong? How to activate the brand’s 300,000 store associates. In her words, they are “arguably the best marketing tool” and the greatest brand asset.

In the quest to reimagine retail stores, we can’t forget about store associates. It is as important to put them at the core of your brand strategy as it is the customer. After all, they are the ones responsible for laying the foundation for long-term, profitable customer relationships. But how do they do it? Of course, with data and through service.

With data at their fingertips – from shopper history to real-time inventory – store associates can efficiently and effectively sell product and deliver a seamless customer experience, every time. In short, productive associates create profitable brands.

If you didn’t make it to Shoptalk this year and are interested in learning more about NewStore or our show takeaways, please reach out! We’d love to chat.