What is multi-channel retail?

Increasingly retailers are turning to mult-channel retail EPOS operatins to increase their sales and push into new markets.

In the old days, a retail company was very much single channel. Small retailers might own a one or two branch shop, or they might simply run a mail-order catagolue, however, to be successful in the modern retail enviroment, retailers must increasing look to convert sales in a variety of channels.

The basic channel for most retailers is their shop. Many retailers add addition branches as they expand - and this entails a lot more flexibility fro myour epos system. When choosing an EPOS system it is important to consider single branch and multi branch as almost two different retail channels.

In addition to their shops, many retailers run a simple mailorder business. Although the advent of internet shopping has caused a massive decline in traditional mailorder sales, you will find that telephone sales are still quite a large part of many retailers multi-channel operations.

The have a mail or telephone order system, you need to quickly and simply create a printed catalogue, and this must be considered as part of the EPOS system that your retail solution provider is giving you.

Trade sales are often considered another channel. The requirements on the EPOS system for a trade counter are very different to those of a shop. You need to be able to print invoices, work in ex-vat prices and run credit accounts and a sales ledger all from point of sale. Trade customers will want to pay off their accounts in store. Whilst a simple EPOS system works in a retail shop, a whole host of extra features are required in the software to add in the trade counter channel.

Of course, the most popular new channel for the multi-channel retailer is the Internet. Having an E-commerce website is pretty much expected for retailers today. Although many retail websites start small, they can generate huge sales - which means you EPOS system needs to handle automatically importing sales orders from the website.

Newer channels are opening up all the time, especially with the increased popularity of mobile phones. It will not be long before making purchases and paying for goods completely by mobile phone becomes as common and accepted as using an e-commerce website.