With the holiday season upon us, staying on top of your sales is a must. Do you know how your business is performing? If you’re not sure, our POS Nation point of sale system can help you stay up to date with every aspect of your operations so you’re fully optimizing your sale efforts. Here are a few points you should consider this holiday season to keep your sales on track.
Point of Sale Inventory Tracking
Do you have a top seller? Use your POS system to run a sales report and identify which item is your top seller! That way, you know to always keep that product in stock. Inversely, you can do the same report to identify your worst-performing item. Bundling with top-selling products or discounting your low-performing products will help relieve your store of unnecessary inventory and create more room for wanted products and goods.
How thorough are you when it comes to practicing inventory control? Did you run out of stock for popular items during the holidays last year? To cut down on chances of this happening again this season, utilize your POS system by looking up last year’s inventory and sales. If you sold out of sugar cookie candles right before Christmas weekend last year, then you know you need to have more in stock this year to make up for the shortage. To do so, you can easily look back in your inventory reporting to know exactly how many candles you had on-hand last year and make the adjustment to order more.
POS System Business Reports
It’s extremely common for business owners to run sale reports at the end of each day, but have you thought of looking at your hourly sales? Utilizing your data to find the peaks and valleys in your sales will grant you better foresight into the campaign strategies your business should be implementing. For example, if you’re the owner of a quick-serve restaurant, you might find that most of your sales occur from 12 p.m. to 1 p.m. and 5 p.m. to 6:30 p.m. with a dip in the middle. To boost sales between your peaks, you can create a timed promotion with half-off specialty drinks or discounted dinner offerings. Your margins may decrease per plate, but you’re increasing sales in previously slow hours!
If you don’t know if your POS system is capable of all these points, get in touch with us at firstname.lastname@example.org and we’ll make sure you’re more than ready for this holiday season.