Point of Sale (POS) Glossary
SKU is an acronym for stock keeping unit. An SKU is used by a business to track their inventory. They are generally 8-12 characters long, begin with a letter, and are unique to each company.
An SKU is different from a UPC. UPCs are universal and are issued by the Global Standards Organization and identify a manufacturer and item. SKUs are designed by individual businesses to represent important information about merchandise.
Some things a merchant might build into their SKU include customer type, sizes, colors, and more. What they choose to incorporate into their SKU architecture is unique to their business.
A robust point of sale system can help merchants encode SKU into a barcode, associate SKUs with UPCs, and more. Depending on the store procedures, the POS register would scan these barcodes as customers are checking out.
Customers love promotions! Buyers are often pulled in by one deal and wind up buying regularly priced merchandise in addition to, or sometimes instead of your discounted items.
An eCommerce website is open 24/7 and accessible from all over the world. Being online and having physical store opens your business to a global market.