Source: https://www.xstak.com/guides/multi-store-retail-business-smart-tips

1. 9 Smart Tips to Ensure
the Success of Y
our
Multi-Store Retail
Business

2. Nothing is more joyful for a retail business than expansion.
Starting a new store brings plenty of possibilities for growth.
However, running a multi-store business isn’t an easy job, it’s
grueling. You need an altogether different strategy and set of
tools to run multiple stores.
This tells us that the retail business has enormous potential.
But, it also means that retailers need the right tools and
strategies to run multi-location businesses smoothly and get
an edge over their competitors.
Global e-commerce retail sales have also reached 4.9 trillion
U.S. dollars. And that’s not it, the online retail market is
expected to grow by 50 percent.
Before you dip your toe into the waters, you must be aware of
the problems and issues that you might have to face. That’s
because the retail market is on the rise and competition is
fierce. According to Statista, the global retail market generated
26 trillion U.S. dollars in sales in 2021 alone.
Retail businesses are
on the rise

3. Overview
Design Centralized
Standard Operating
Procedures
1
The first thing you must do is to
ensure that all your stores follow
the same guidelines. This will help
you streamline routine retail
operations and day-to-day
activities. Plus, your customers will
get a similar and seamless
experience in every store (online
and offline).
The retail industry is undergoing
unprecedented changes. The most
notable shift took place during the
pandemic when eCommerce helped
uplift retail in 2020. And the trend is
expected to continue because
consumers have adopted online
shopping.
Businesses with multiple locations
face challenges when it comes to
inventory tracking. The manual
process requires more time and may
not provide accurate counts of stock
due to human errors such as data
entry mistakes. To get real-time
inventory visibility, you must
automate your inventory tracking
process.
Automate the Process
of Inventory T
racking
2
Selling Across Platforms
(Online & Offline)
4
An automated inventory management
tool allows businesses with multiple
locations to perform tedious tasks
using the software. They can perform
data entry tasks using the software
and can get accurate and efficient
insights. That’s why modern retailers
are now using the order management
system to track and organize their
stock, supplies, and sales.
Implement an Automated
Order Management
System
3

4. Simplifying Payments
7
Offering fast payment options to
customers at checkout can be a big
win for mid-market retailers. Today’s
consumers are more inclined toward
digital payment methods like internet
banking, mobile wallets, and point of
sale (POS). They prefer contactless
payment to purchase products using
banking cards (debit and credit).
The customer experience (CX) is the
next big thing in the retail industry.
Yet companies often tend to ignore
this vital aspect just because the
value of customer experience is hard
to measure in terms of ROI. The recent
market data shows that 84% of
companies saw a significant revenue
increase after improving their
customer experience.
Repeat customers are the key to any
retail business. These are people that
keep coming back to buy products
from a store. Such consumers not only
tend to spend more but also spread
the word to bring more customers to a
store
Retailers usually emphasize
strengthening customer interactions
on one or two platforms. They focus
on retail loss prevention tips and
often overlook other channels which
can improve their sales. As a result,
they miss the opportunity to broaden
their revenue streams.
You cannot know how your multi-
location retail store is performing
without measuring the key indicators.
Deliver a Unified Experience
to Y
our Customers
Doubling Down On
Loyalty
Performance T
racking
of All Stores
5
6 8

5. Today, retailers need tools that can
store, manage, and analyze all their
sales data in one system. They need a
system that can integrate with ERP
and POS, and has the ability to
manage the whole supply chain.
The market is filled with standalone
products that provide solutions but
not for all problems. They are either
only good at managing stock or just
keeping track of sales. What retailers
need is a modern all-in-one retail
management system with multiple
features.
Use the Modern Retail
Management System
9

6. Deliver a Unified Experience to Y
our Customers
1
The first thing you must do is to
ensure that all your stores follow the
same guidelines. This will help you
streamline routine retail operations
and day-to-day activities. Plus, your
customers will get a similar and
seamless experience in every store
(online and offline).
Standard operating procedures vary from business to business,
but make sure your SOPs cover the following:
Monetary T
ransactions
It is wise to clearly mention in writing how
monetary transactions should be handled. If
you are using omni-channel payments, clearly
indicate the types. Also, cover the refund and
return policy to educate customers and avoid
inconveniences.
Customer Services
In today’s retail industry, customers always
comes first. And to earn their trust and loyalty
as a retailer, you must provide the best
customer experience. You need to shape
policies around customer services outlining
how staff should assist the customer.

7. Layout and Merchandising
How you display your products is still one of
the crucial aspects of retail business. This is
one of the key retail merchandising tips that
can boost your sales. So, if you are running an
e-commerce store, make certain essential or
high-selling products listed on the homepage.
Moreover, your eCommerce website and the
app should have the same design.
Safety and Security
Data security cannot be overlooked in the
retail industry. A single breach can cost your
company big time in terms of money and
customer loyalty. So, make sure you are
following essential security steps to keep your
online customers safe. Furthermore, you
should clearly state your privacy policy as well
as other terms and conditions to let your
customers know how you are using their data.

8. In the retail Industry, nothing is more
crucial than inventory management. This
is a process that provides visibility into
the supply chain and allows you to
balance customer demand with store
limitations. It is easy to manage the
inventory of a single shop, but hard for a
multi-location business.
Businesses with multiple locations face
challenges when it comes to inventory
tracking. The manual process requires
more time and may not provide accurate
counts of stock due to human errors such
as data entry mistakes.
To get real-time inventory visibility, you must automate your inventory tracking
process. Especially, if you are selling products across multiple sales channels. An
automated system keeps updating the inventory and is always in contact with
the POS software. As a result, you will have a highly accurate count of inventory
at all times.
“An inventory management software assists in managing a multi-location business in real-
time. It ensures accurate recordkeeping and helps you prevent stockouts.”
Automate the Process of Inventory T
racking
2

9. GRAPHICS CREA
TION FOR ONE DASHBOARD FOR ALL PREVIEW
OMS Stores
Marketplace
E-commerce
Shipping
3PL/warehouses
ERP/Financial
Manage all operations from one place

10. An automated inventory
management tool allows
businesses with multiple
locations to perform tedious
tasks using the software. They
can perform data entry tasks
using the software and can get
accurate and efficient insights.
That’s why modern retailers are
now using the order management
system to track and organize
their stock, supplies, and sales.
How Does an Automated Inventory Management System W
ork?
Implement an Automated Order Management System
3
An inventory management system works in conjunction with enterprise resource
planning (ERP) and point of sale (POS) software. It brings your in-store as well as
online retail channels including third-party platforms like eBay and Amazon into
one portal. This simply means that you can manage the whole inventory on a
single portal.

11. An automated order management system can help you with:
The best part is that you can view how each product is performing. You can
monitor the overselling and underselling of items and can make decisions in
real time. An automated inventory management system also lets you know when
a certain product is reaching the predetermined reorder point. Thus, you can
restock the products that are running low.
1. Automatic reordering 2. Automated stock transfer
3. Inventory alerts and notifications 4. E-Commerce integration
5. Automated order management 6. Streamlined store reporting
Book a free demo and see how an automated inventory management
system can optimize your retail business

12. The retail industry is undergoing unprecedented changes. The most notable shift
took place during the pandemic when eCommerce helped uplift retail in 2020.
And the trend is expected to continue because consumers have adopted online
shopping.
So, if you want to ensure the success of your multi-store retail business, you
have to meet your customers wherever they are. This includes channels like
Amazon and eBay as well as social commerce platforms like Snapchat, Pinterest,
Facebook, Instagram and TikTok. In order to achieve your revenue goals and
compete in the market, sell across multiple channels (including both online and
offline).
This is where your multi-location business can
take advantage of omni-channel commerce.
“Omni-channel commerce (Omni-channel retail) focuses on providing seamless customer
experience to customers whether they are shopping in a brick-and-mortar store, or online from
a website or mobile app.”
Omnichannel commerce allows you to capitalize on multiple channels. And selling
across platforms (online and offline) becomes more convenient if you have an
inventory management system.
Selling Across Platforms (Online & Offline)
4

13. The customer experience (CX) is the next
big thing in the retail industry. Yet
companies often tend to ignore this vital
aspect just because the value of
customer experience is hard to measure
in terms of ROI.
The recent market data shows that 84% of companies saw a significant
revenue increase after improving their customer experience.
Deliver a Unified Experience to Y
our Customers
5

14. Marketing research has shown that repeat
customers spend 31% more and are 50%
more likely to try new products.
Considering the new customer acquisition
costs, having loyal customers seems like a
good idea. For this reason, major retail
stores tend to invest in an omnichannel
loyalty management system.
Repeat customers are the key to any retail business. These are people that keep
coming back to buy products from a store. Such consumers not only tend to
spend more but also spread the word to bring more customers to a store.
Doubling Down On Loyalty
6
“A loyalty management system helps businesses offer rewards to repeat customers. It helps
retailers identify quality leads that they should retarget during a marketing campaign.”
Customers are always considering where they should shop and a loyalty program
can help engage such consumers. A loyalty management tool not only helps
retailers find new prospects but also retains them.
Start Your Own Loyalty Program Offer rewards and discounts to your loyal customers
Book A Demo
Point Program Spend Program Tiered Program Paid Program

15. Offering fast payment options to customers at checkout can be a big win for mid-
market retailers.
Today’s consumers are more inclined toward digital payment methods like
internet banking, mobile wallets, and point of sale (POS). They prefer contactless
payment to purchase products using banking cards (debit and credit). These are
faster payment methods that not only improve the customer journey but also
an omni-channel payment method
into your multiple stores, online
website, and other commerce
channels.
Such an intuitive, all-in-one payment
method will prove a frictionless
shopping experience for your
customers. On the other hand, you
can streamline receipts and manage
sales across multiple channels on
one portal.
Simplifying Payments
7
Banking Card
Mobile Wallets
Banking Card
Online Banking
Point of Sale

16. Retailers usually emphasize strengthening customer interactions on one or two
platforms. They focus on retail loss prevention tips and often overlook other
channels which can improve their sales. As a result, they miss the opportunity to
broaden their revenue streams.
You cannot know how your multi-location
retail store is performing without measuring
the key indicators. For that, you’ll need
relevant data and that too on one platform.
This is where you’ll find business intelligence
(BI) to be useful.
An omnichannel BI tool can show you a clear
picture of your retail business. You can get
reports on inventory, sales, invoicing, and all
other key metrics. It provides you with
information about the stock, inventory
turnover ratio, sell-through rate, and average
order value. What’s more interesting is that
you can view the individual stats of each store
You can utilize these performance tracking reports to:
Performance T
racking of All Stores
8
Identify potential risks Establish benchmarks
Make business decisions Improve forecasting

17. The market is filled with standalone products that provide solutions but not for
all problems. They are either only good at managing stock or just keeping track
of sales. What retailers need is a modern all-in-one retail management system
with multiple features.
Today, retailers need tools that can
store, manage, and analyze all their
sales data in one system. They need
a system that can integrate with ERP
and POS, and has the ability to
manage the whole supply chain.
To ensure the success of your multi-store retail business, you should invest in an
omnichannel platform. A platform that contains an inventory and order
management system that can manage orders and stock, keep track of sales and
provide reporting, a next generation cloud based point of sales system to
manage products, inventory and suppliers, a loyalty management system to
reward your loyal customers and a payments solution integrated ofnline and
online. This will allow you to run your store across multiple channels while you’ll
be able to manage data on one platform.
Use the Modern Retail Management System
9

18. That's where a comprehensive retail operating system would come in handy that
offers omnichannel commerce, marketing, BI, and payments solutions.
XStak's omnichannel operating system provides businesses with solutions for
modern-day retail challenges. It helps you manage your commerce, marketing
and payments operations while providing analytics and reports for all these
business operations in real-time.
Book a demo to explore distinctive features of our all-in-one,
omni-channel operating system fornext-gen retailers