Every retail business wants to get ahead, and there are some time-proven and also relatively new strategies that can help you exceed your sales goals. You already know that providing needed products at a good value is key to your business. What might not be as evident is that you need a great POS and inventory system that has features to help you reach success.
The basic features of POS system include being able to process transactions, so a small business might be able to scrape by with a retail iPad POS or a basic POS term. But those will not cut it for a successful business! A retail POS definition may include virtually no POS capabilities beyond running transactions and require expensive POS computer equipment purchases. Alternatively, you can get a cloud-based system that gives you all the advantages of the best electronic point of sale system without the need to buy expensive back-office hardware and software.
Your system needs to be the best POS and eCommerce solution for your current needs and also allow you to scale as you grow. It should also support the things you want to do to make your business unique and draw in customers.
The best eCommerce point of sale system can track your inventory from one shop, multiple stores, online, and also any warehouses in real-time. You should also be able to run any customized loyalty programs, create flexible discount groups, design sales, sell discount cards, and have it all work in your store as well as online. Curbside and local delivery are both more important than ever these days, and capturing customers that want these options can be a massive boon to your business.
Being able to run the POS analytics and reports that you need to see snapshots of your real-time data lets you get a reliable picture of what items are selling, to which customers, at what prices, when, and more. Retail daily sales reports are also essential to tracking and optimizing your business.
You also want a POS inventory management system that lets you know when you are low on stock (before you run out) and multi-warehouse functionality that can easily access inventory from across all of your locations. If your POS system can generate purchase orders and keep track of your suppliers, costs, and receiving, you are also way ahead of the game. This lets you stay stocked with the most popular items and help you make the best buying and promotion decisions.
In addition to multiple features, you want to work on your time cuts to achieve maximum performance when it comes to stocking, inventory and wholesale ordering. You need great forecasting tools that shave off days from mixing and matching what to order next for your retail store.
You might of noticed already that a key to boosting your sales lies within your store organization and push to market strategy that evolves around your core system. Only when you solve your internal store organization you should move into marketing decisions. Because without great infrastructure, all you are doing is making temporary sales that won’t hold long and/or paying premium for 3rd party services that should come from your system in the first place.
There are a lot of choices you must make every day to adjust to your market dynamically. When thinking about the types of POS systems for retail, be sure to choose a robust POS like ACID point of sale, that fits all of your needs for today and can grow with you in the future.