Types of Retail Software
Retail is the general term used to refer to the retail sale of consumer goods or service by retailers to consumers in a retail store, showroom, or other location. Retailers meet demand identified through a distribution system. The distribution system may involve sales by wholesale to the public or purchases from a dealer stockroom. In addition, retailers may sell directly to the public through a retail store or Website.
Retailers sell consumer products or service in distinct forms such as bricks and mortar stores, internet websites, outlets or showrooms, and small quantities to end users, such as small businesses and home offices. The products may be bought from the retailer or purchased over the internet or other media. The end user of the goods or service buys it for a personal use such as entertainment or information purposes. Some goods are bought for resale either privately or commercially.
The retailing industry generates about two-thirds of the world’s revenue. Most countries have some form of retailing including groceries, clothes, shoes, accessories, and electronic equipment. Growth in the retailing sector has been slow or flat over the past decade. Retailers continue to face many challenges such as competition from online sellers, changes in consumer preferences, and changing consumer spending habits.
Retail software that helps manage inventory, manage purchasing, and collect sales tax are included in many types of retailing applications. In a traditional store setup, a cash register serves as a primary control interface for the retail software. A register generally includes a bar code scanner and a credit card machine. It can use an Ethernet port or a parallel port for connecting to a POS system or a customer database.
A retailer can also use a point of sale (POS) system for a more automated retail business. This type of POS system allows a retailer to process a payment using a keyboard and mouse. Retail stores can now process transactions without having an end user to deal with. Retail software also assists a retailer in setting up an effective supply chain management system. A good example of this type of POS software is Retail Point of Service, or POS Systems.