The Best Retail Management Software

There are plenty of retail management systems on the market that combine services to help retailers run their businesses smoothly. Whichever retail management software you choose needs to serve your business needs and be adequate for the size and type of industry you work in. Find out what you need to look for in a retail management solution, as well as our top picks.

Top Rated

talech

talech is a lesser-known yet solid POS system geared toward retail and food service businesses. We highlight talech's best features, benefits, and more in this review.

Best Features

Retail Pro

Retail Pro is a retail management solution designed for larger specialty retail businesses. In this review, we highlight Retail Pro’s best features.

Best Value

Agiliron

Agiliron is a multichannel commerce solution packed with retail features. We highlight Agiliron's features, pricing, and more in this review.

Best Support

KORONA POS

KORONA POS is a point of sale solution that caters to many different industries. In this review, we highlight KORONA POS's best features, pricing, and benefits.

Best for Enterprises

Epicor Retail Cloud

Epicor Retail Cloud is a retail management solution designed specifically for speciality retail businesses. In this review, we highlight Epicor Retail Cloud’s best retail features.

We may receive compensation from partners and advertisers whose products appear here. Compensation may impact where products are placed on our site, but editorial opinions, scores, and reviews are independent from, and never influenced by, any advertiser or partner.

Retail management software helps retailers manage their businesses by combining several separate tools into one platform. Good retail management systems are comprehensive enough to allow retailers to run most of their business operations on one single platform.

However, not all retail management solutions are one-size-fits-all tools. Finding the right tool to support and power business operations is the first step in modernizing and optimizing your retail business.

We’ve put together a list of retail management software to help you narrow down your options and make the right decision for your business.

Our top picks for the best Retail Software:

Top Rated

1. talech

   
Best Support

2. KORONA POS

   
Best Features

3. Retail Pro

   
Best Value

4. Agiliron

   
Best for Enterprises

5. Epicor Retail Cloud

   

What The Blueprint looks for in a great retail management software

We look at three main factors when evaluating retail software: its features, customer support options, and its pricing.

Features

Retail management systems are more than just inflated POS systems for retail stores. These solutions should come with enough comprehensive features that allow you to run the bulk of your business operations from one platform.

POS features make up the core of retail management solutions, and almost all come with them as standard. Other important features of retail store management software include:

Not all solutions will offer every feature we mention here, but at the very least, a good retail management solution will offer inventory, customer and employee management, reporting, and a decent POS dashboard.

Support

It’s important that retailers receive a good level of customer support from their vendor. Issues with your retail software platform can disrupt business and halt sales. We like to see vendors offer at least one 24/7 customer support option, and a range of other less time-critical support options, too.

Ease of use

With so many features housed in one system, retail management systems need to be user friendly and functional.

Modern interfaces are nice to have, but we look at the bigger picture — how much of a learning curve is associated with the product, how quickly users can be onboarded, and how much ongoing support or training is needed for users to use the software to its fullest potential.


How your business can benefit from using retail management software

Retail management solutions offer a range of benefits for businesses. Aside from POS capabilities, let’s take a look at what other advantages the use of a retail management tool can bring businesses both large and small.

Better inventory management

Unless you’re running a retail business with minimal stock, you’ll need sophisticated retail inventory management software to help you track, control, and optimize inventory decisions.

Retail store inventory software helps you keep inventory costs down and customers happy by:

  • Automatically updating stock levels when items are sold, returned, or inventory is received
  • Giving users alerts when stock levels are low (some systems even automatically reorder stock based on minimal levels you set)
  • Monitoring costs and profit margins of items so that you can make informed inventory decisions

Improved decision-making

Retail management platform-reporting features help retailers turn their sales, customer, and employee data into valuable insights that can help you better understand them.

For example, POS reports can show you:

  • Your best and worst selling products and product categories, which in turn influence inventory decisions
  • The days, months, and times of day you make most sales, which will help you make staffing decisions
  • How your employees or sales team are performing, which in turn helps you redirect training resources

Support for multichannel and multilocation businesses

Most retail management software supports users’ multilocation businesses, and multichannel mediums, meaning there’s no need for disparate and siloed systems to support each.

All inventory, customer, employee, and sales data is synced to one centralized system, and is updated and available across all devices, stores, and channels.


Retail management software frequently asked questions

What’s the difference between a retail management solution and a POS system?

It used to be that retail management systems were bulked-out versions of POS systems, offering more ERP features that helped retailers run their back offices and almost all facets of their business. Nowadays, POS systems have evolved to the point where they also provide business owners with inventory and customer management tools, etc.

Generally, the choice between the two systems will likely come down to cost, ease of use, and business size. Retail management solutions tend to be costlier, and offer a much broader set of features that smaller retailers might not necessarily need.

How much will I pay for retail management software?

Of the platforms mentioned in this review, prices for retail software range from $29/month to $255/month. However, many solutions don’t make their pricing information available, instead creating prices based on individual business needs.

Are retail management solutions suitable for small businesses?

On the whole, retail management solutions tend to be more suitable for midsize to enterprise businesses due to their scope and cost. However, many retail management solutions have been designed with small businesses in mind, with pricing to match.

The Motley Fool has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.