Searching location for your retail space and determining the right products for that location is never simple. Simply putting shelves and products without evaluating the critical factors will not help you reach your business goals. Luckily, you can use retail space planning software. Continue reading below to learn more about this software.
5+ Retail Space Planning Software
6. Retail Merchandise Planning and Optimization
What is Retail Space Planning Software?
With the business competition getting more challenging, new solutions and techniques are required to ensure your business will climb and stay on top. Arranging and planning for retail space and arrangement is one of the primary factors to attract your target audiences. Since manual methods have limitations, it is not enough to ensure success. You will need retail space planning software, a technological tool that demonstrates 3D presentations of the location and arrangement of your retail. Retail space planning software provides advanced features and functionalities, helping you plan and organize products in the perfect aisle of your retail space. Such software allows you to generate models and understand critical factors leading to improved decisions.
Retail space planning software offers numerous benefits and advantages. The manual method would not suffice in generating the best retail space plans. That is why using the new technological advancements is the best choice for your business. It assists you in acquiring the actual visual and presentation of your retail, allowing you to collect accurate data analysis to create compatible product categories to display in distinct areas.
Features and functionalities differ depending on the technology company. They can have the same features while also having distinctive ones. Various platforms have different levels of advancements and prioritized features. Since some software may fail to meet your expectation, researching before buying them is necessary. On top of that, the software is expensive, hence reviewing first avoids buying irrelevant tools. Content about software’s pros and cons is available. You can also try free versions trials to inspect and evaluate them firsthand. Below are features you should consider:
- Shelf Planning
- Usage Tracking/Analytics
- Incident Management
- Inspection Management
- Lease Management
- Space Management
- Design Management
- Floor Plans & Maps
Top 6 Retail Space Planning Software
1. Retail Merchandise Planning and Optimization
Retail Merchandise Planning and Optimization from Oracle includes merchandise financial planning, assortment planning, category management, and regular price optimization. Oracle has annual revenue of $2,147.5 million and 196,083 employees.
3DVIA from Dassault Systemes offers smart 3D space planning solutions to businesses and consumers, enabling new ways to engage, consider, and make the best decision. Dassault Systemes has annual revenue of $2147.5 million and 18640 employees.
Kantar Retail’s XTEL solution was recognized as a comprehensive trade promotion solution with a large user base and growing global presence that includes trade promotion management, trade promotion optimization, price optimization, retail execution, and monitoring capabilities.
DotActiv is a category management software that allows users to create data-driven planograms, localized assortment plans, and retail analytics automatically. It includes planogramming, shelf planning, and more.
Quant from Quant Retail includes change management, floor plans and maps, merchandise management, and more advanced features. Quant Retail is a cloud-based retail management solution that includes space planning, shelf labels, planograms, product category management, and automated ordering.
What is retail space planning?
Retail space planning is an act of generating strategies and initiatives. To improve decision-making processes and choose the best location for your products. Every place has various customers, customers with different interests and needs, a consideration in retail space planning if you want to build a store in a high-traffic area.
What is the significance of retail space planning?
Simply choosing a location for your business without evaluating prospective customers will get you nowhere. As an entrepreneur, it is crucial to assess and understand the customers in a particular area. That way, you will know the best and relevant products and services for that specific location. This process is part of retail space planning.
Why is software beneficial in business?
As technology advances, new methods for assisting businesses in their daily operations emerge. However, due to technology, the market has increased expectations and demands. For this reason, firms use software to analyze the market’s trend, perform strategic planning, generate ideas, and improve operations. The software provides quality assurance therefore also promises customer satisfaction.
Determining the best location, customer’s interest, services, and products is crucial to meeting your business goals. Although manual methods are necessary, they have limitations of information and reach. With retails space planning software, you can see the actual presentation of your future store and plan for your product’s categories and suitable spaces.
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