Every retail owner has questions, "How can I increase my sales, and how can I reduce costs?" Business-savvy people know that a quality electronic point-of-sale system can help with both.
Here are a few strategies to increase sales and reduce costs
with your epos system in London.
Increase Sales with Employee Monitoring
Start with monitoring your employee's performance with
your POS
till system UK. See what they are
selling and not selling. Find if they require more training or a refresher on
upselling.
Also, you can use incentives to get more sales contests that
motivate your staff with rewards. For instance, an individual with the highest
average sales in a week gets an award, or the individual who can sell an 'x'
product along with a 'y' product the most times in a month gets rewarded.
Tracking the data, generating reports, and developing contests
can all be done through a POS system.
Increment Sales with Customer Loyalty Programs
Customers that often come back mean more consistent income.
Create a customer loyalty program to help with increasing sales. For example,
monitor the number of 'x' when a customer purchases and, on the tenth purchase
of 'x,' they get a free 'x.' Collect customer information, such as emails, to
let customers know what is on sale, and offer them special incentives. In this
way, customers are incentivized to return more frequently than they would
normally.
Decrease Indirect Costs
Indirect costs can be hard to recognize. In retail stores, variance
is a vital measurement to track and something that can be undoubtedly achieved
with your EPOS
systems. Variance is the
difference between the stocks reflected on your reports and the actual sum on
the floor. The closer these stats are tracked, it is simple to reduce costs.
Another model is staff errors. If staff are ringing up wrong
amounts at the counter, or as a proprietor ends up offering things to customers
as admission for an expensive staff mistake, then your business is incurring an
implicit cost. It may be time lost in trying to fix these errors or increased
chances that the customer won't be back. An Epos system with a barcode scanner
could easily tackle wrong ring-ups.
Decline Direct Costs
Decrease costs by decreeing your stock. Use your Epos system to
see what is selling and what isn't so you can work on your margins. Moreover,
many hours can be saved each week by automating many processes managed
manually. Also, a POS can track stock more effectively and save labour costs on
re-ordering. Besides, keeping track of what you have makes it a deterrent for
staff stealing.
In general, it happens in your retail store when you use a
quality Epos system from standard epos companies in the UK like
Epos Direct. An increase in sales through staff monitoring and customer loyalty
programs and a reduction in indirect and direct costs through monitoring stock
orders and fluctuation metrics.
