Your customers are a thrifty bunch and, just like your customers, you understand the value of thrift. With the right dollar store POS system, you can ensure your dollar store is running as cost-effectively as possible. Here’s how a dollar store POS can help you keep your customers happy and your business’s profit margins trending upward.
1. Optimize Labor with Your POS
Over-staffing can lead to a loss of profit because you are paying more for labor than you need, and under-staffing can lead to poor customer service, slow checkout times, and disgruntled employees. Using dollar store POS to find the balance is the key to keeping labor costs down while keeping your employees happy and your customers coming back.
A dollar store POS system can show you which times of day, and which days of the week, see the highest sales. In this way, you will easily determine how many employees to schedule at any given time. The time saved by utilizing dollar store POS to pinpoint periods of high traffic and low traffic can be spent managing your store and improving customer service.
Additionally, since dollar stores tend to have high amounts of foot traffic, keeping lines short and transaction times fast will keep your customers and employees happy. Dollar store POS gives you the ability to ring up items fast and process card payments quickly. If you couple this with accurate labor optimization, you can keep customer checkouts flowing efficiently and smoothly.
2. Track Inventory and Reduce Shrink
A dollar store POS can keep inventory records on every item in your store, automatically subtracting from inventory numbers with each sale you make. At the touch of a button, you can check inventory on any item, and a dollar store POS can even prepare or automatically place reorders for items when the stock gets low.
Dollar stores also cannot afford to lose items to shrink, the result of employee or customer theft, inaccurate inventory records, or shipping errors. Every lost item can dig into your profit margin, but with a dollar store POS, you needn’t worry. Shrinkage can be easily detected through inventory and labor tracking (if it is a suspected employee theft issue) before it becomes a recurring problem. Additionally, automated reorders ensure there are no errors in shipping from your suppliers.
3. Access Real-Time Data
Dollar store POS can generate a wealth of information based on the recorded information from sales and the integrated employee punch clock features. Reports on data such as inventory, sales, and labor hours can be accessed in real-time. If you are managing multiple dollar stores, you can access and compare data from each store and, ultimately, use the information gleaned to make better business decisions.
4. Customer Loyalty and Incentives
Recognizing loyal patrons goes a long way to keeping your profit margin healthy. Dollar stores can be successful when they track customers’ purchase histories and use that information to reward their shoppers. The right dollar store POS will integrate with loyalty programs to keep track of the purchase histories of your most loyal customers, enabling you to offer them special coupons and discounts when they visit your store.
Owning a dollar store is a highly-competitive venture. Keeping ahead of the competition by ensuring your expenditures are low and your efficiency is high is a matter of having a modernized dollar store POS that offers a myriad of time-saving features.