Are there any more good deals out there? As consumers, we want the most bang for our buck. We shop around for the best offers and wait for our weekly flyers to land on our porch, only to decide what and where to buy for the week. As consumers, we benefit from the various promotions offered by our favourite retailers, but on the retailer’s side, sales price and promotion management can be challenging. There is magnification if the retailer is national and subject to different jurisdictions and provinces.
What is required to manage different sets of prices, labels, promotions, and validation periods of offers across a chain of stores? Let’s look at some of the native features of LS Retail.
LS Retail, embedded in Microsoft Dynamics NAV, combines your back office, POS, and ERP solutions into one system. In LS Retail, you can set up prices, discounts, and offers at the Head Office and then have them deployed to selective sets of stores known as Store Groups. The store group is assigned to different promotions and offers, bridging the cluster of stores and the promotion offering.
Although Promotions and Offers may sound similar, in LS Retail, a Promotion is generally set up as a periodic price change and is built on top of the standard pricing of the item being sold. No discount is registered with a promotion. An Offer, on the other hand, works as a discount at the Point of Sale and can be activated on top of a Promotion.
There are numerous types of discount offers in LS Retail. Some popular ones are outlined below:
- A tiered discount schema based on the number of items the customer buys.
E.g. Buy 5 items get 10% off (Figure 1).
Mix & Match Offer
- A versatile discount schema that provides discounts when buying specific quantities and/or a combination of items.
E.g. Buy 3 items and get the 4th for free (Figure 2).
Total Discount Offer
- A tiered discount schema based on the total value of the sale.
E.g. Spend $100 and get a $10 gift voucher (Figure 3).
Beyond these basic examples, here are some frequently asked questions we get from retailers:
Q: I have multiple overlapping promotions/offers, how does the system evaluate the importance of each one of them?
A: Each promotion/offer has a priority number.
Q: I have a date sensitive offer. How do I control its validity?
A: You can configure the validation period for the offer.
Q: How do I make a coupon code mandatory before activating an offer?
A: You can activate or “trigger” the offer by setting up the offer with a coupon code.
Q: I have special pricing for members of a loyalty program. How do I set it up?
A: You can set up a member type “Club” and propose discount amounts based on the member’s club level (e.g. Bronze, Silver, Gold).
LS Retail is just one of the many retail systems that we at BDO IT Solutions implement. If you think you are ready to have a conversation about how to improve your business with retail technology, contact your BDO Client Manager.