According to IBIS world, between 2017-2022 the number of small retail stores grew 2% despite the many Covid related business closures in retail. With over 151,899 locations in the U.S., in 2022 small retail stores make up about 2% of the overall economy in 2022. Small retail owners experience unique challenges, managing everything from purchasing, staffing, and finances, to inventory and sales, the entire business rests on the business owner’s shoulders.
Finding business solutions for small retail stores can be tough, requiring user friendly, accessible, and affordable software. Many business solutions target the mid-market with no appropriate price point for new and small businesses requiring these solutions.
Many small businesses choose a variety of single-purpose solutions for finance, marketing, and staff management. While this approach seems incrementally cost-effective, it is guaranteed to leave your data siloed, which only becomes more cumbersome as the business grows.
Many Mid-sized and large corporations avoid this situation by adopting an ERP system (enterprise resource planning) to centralize their data and take advantage data in a single place, providing insights otherwise unachievable. ERP provides all-in-one solution, but at a hefty price tag which once again leaves these small businesses underserved.
Odoo set out to change the preconception that ERP needs to be complex, large scale and expensive.
Odoo’s a modular approach provides the option to adopt new modules as you grow and develop a need for them. For example, you may start with point of sale, inventory management, and/or finance from Odoo, later expanding over time into ecommerce, shipping ecommerce orders, marketing campaigns, and scheduling your staff across multiple shifts and skillsets, all with Odoo.
Odoo can offer all this, with the convenience of being in the cloud, for east access anytime and anywhere. With all data in one place, data analytics is facilitated, including financial reports, inventory reports, sales reports, and dashboards to display relevant data in a more easily understood format.
Odoo is available at an extremely competitive price point, an industry breakthrough. See what Odoo can do for your small retail business, and adopt an ERP to grow with you, not an overpriced/oversized solution that you hope will become cost effective years in the future.