You have to keep an eye on the trends if you want to be ahead in the race. We have listed some of the major trends rocking the retail 
industry across the globe.
- Online retail sales & purchases
Being online (for shopping) is ‘in fashion’. This has resulted in sky-rocketing sales online. Apart from it, there is an increased demand for effective warehousing, inventory, shipping and delivery control. The online retailers are getting tied-up directly with suppliers than retail chains or small stores. What becomes crucial in this stage is the presence and operation of an effective inventory management solution.
- Cloud-based software
Today, there is more acceptance for cloud based retail business automation solutions. The advantage of it is that you do not need to host it and everything is taken care of by a vendor. You can access your business through a web browser than installing it on a local computer and having the massive infrastructure in place for smooth functioning. TruePOS offers a complete web-based solution that takes care of your inventory and supply chain woes.
- Locally sourced
Retailers are trying to save in their logistics by finding suppliers in their close proximity. They reduce their transportation costs as the supplier itself delivers the goods to their stores. In fact, the products are being sold having a banner of being locally sourced to meet the expectations of environmentally friendly consumers.
- Business intelligent analysis
Technology is getting advanced enough to point out the major loopholes in your business. Retailers are curious to know where every penny is spent and how. Complex calculations are done at the push of a button and simple intuitive graphical representation of the reports makes it all the more easy for the retailer to take the right decisions at the right time.
The above listed trends make it all the more necessary for a retailer to have a complete business management solution inbuilt with accounting capabilities. In addition to this, strategic planning, sourcing and demand forecasting are a few features which would make the solution wholistic.