Flexibility of New Retail Point of Sale Technologies

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If you are a retail point of sale company that sells Sporting Goods, Apparel, Footwear or even electronics or other types of merchandise, you may have several locations. Having multiple locations is good for business, but connecting all of the information from each of the locations can be very challenging and time consuming. If you haven’t already heard about the new technologies that can offer real-time retail point of sale information, it is time for you to learn about them. By using an integrated software system, you can have information from all of your locations available whenever you need or want it.

Imagine a customer who wants a particular style and size of merchandise. He enters one of your locations and determines that it is not available. At his request, you can immediately determine if the item he desires is at another location, in transfer, or on order. This may make the difference on whether you make a sale and whether your customer is satisfied. Of course, we all know that a satisfied customer is often a repeat customer. Increased sales are one of the benefits of a retail point of sale software system.

Another benefit of a retail point of sale system is reduced costs. If you know in real-time that a certain item is selling quickly, you can re-order it or transfer the item from another location before it is gone and save yourself time and money. If certain items are slow to sell, you will know not to order them by simply checking and this will also save money. Rather than waiting for daily or weekly reports, you will know immediately how your merchandise is selling. As costs are reduced through the accessibility of real-time information, profitability will increase.

However, you may have looked into these new retail point of sale technologies and thought that they are extremely expensive and difficult to implement. This is not the case anymore. There are a number of retail point of sale system suppliers that understand the challenges of the current economic climate. They have developed the new technologies to the point where expensive on-site servers are not needed by their clients. The existing hardware, software, and operating systems of their clients can be integrated into the new system with a minimum of difficulty. Rather than requiring expensive long-term contracts, short-term pay-as-you-go terms are offered. This flexibility allows any sized company to take advantage of the new technology.

Instant access through Internet connections allows a business to check their retail point of sale system from any location. Whether you are at a trade show, at a different location, at home or even on vacation, you can access the system and make important decisions based on real-time information. With web-based training, your employees will easily be able to train on the new system with minimal downtime. Rather than being an extra expense, training is included in the minimal monthly costs of the system. Rather than taking weeks, this type of retail point of sale system can be implemented and running within a few short days.

point of sale software, retail point of sale, pos retail

Improve Retail Sales Performance With These Sales Coaching Tips

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Your POS system generates key statistics that tell you about your Retail sales performance.
These key statistics are: Average sale, Transactions per hour, Items per sale, Conversion rate, Sales per hour.

But did you know that tracking these statistics on an individual Salesperson basis can lead you to focused clues about improving individual performance. Most POS systems dont enable you to track individual sales performance or generate individual KPIs (key performance indicators). If they do, they do not allow you to set a Store Sales Goal for comparative purposes.

If your POS system does track these KPIs they can lead you to some very important coaching strategies:

Coaching on Low Average Sale

Salespeople need to create value in the sale by demonstrating more expensive merchandise. This usually requires more skill and more product knowledge.

Customers need to be probed to identify their needs so the Salesperson can match them with the right product. There is no point in launching into a demo unless the needs of the customer are known. This leads to unsuccessful attempts at adding on. Perhaps the sale itself is lost due to inaccurate probing.

If the Salesperson is in a hurry they may not maximise their opportunity to sell. This will usually be characterised by low items per sale and/or high transactions per hour, as well.

Salespeople need to be aware of natural product add-ons such as extended warranties, product customisation and delivery options. Lack of product knowledge again is a cause for low average sale.

Coaching on Low Transactions Per Hour

Salespeople may be guilty of spending too much time with customer and not closing sales quickly enough. This is usually due to a lack of skill or motivation.

You need to identify a specific behavior that is cause the poor performance which may be thing like too much time spent merchandising, taking breaks, smoking, or talking to customers without trying to close the sale.

Converting customer is paramount to increasing transaction per hour.

Approach more customers and try to spend less time with them

Coaching on Low Items Per Sale

Salespeople need to at least attempt to sell more than one item to a customer. Product knowledge and sales confidence are the keys to a successful add on. Lack of sales skill will inevitably result on giving up too quickly or ignoring an opportunity to add on.

Probe customers with broad questions relating to the product they are buying. You may find out something about the customers that leads naturally to the ad on.

Since the customers mind is most open to buying prior to making a buying decision on the primary item, a Salesperson who always waits for that commitment prior to adding on may be minimising his/her chances of successfully adding on.

Salespeople are sometimes much to careful about saving a customers money instead of trying to sell them more items. If the store is quiet Salespeople need to try harder to ad on. Even if the store is busy, a customer who has already decided to make a purchase is more easy to sell something to than a customer walking into the store.

Coaching on Low Conversion Rate

Lack of probing, skill in selling, product knowledge, and approaching customers is usually the cause of low conversation rate.

In most cases increasing the conversion rate of the store is the quickest and easiest way to increase the sales average. Converting one more customer per period can create a dramatic effect on the sales for the day so Salespeople need to close faster and attend to more shoppers.

Lack of clear and targeted demonstrations and a lack of product knowledge can cause wasted time with Salespeople performing the sale but not closing the deal.

Coaching on Low Sales Per Hour

Usually this statistic is low because one of the others is low.

Make sure you are tracking this statistic accurately. If you are measuring sales performance for an individual who is selling for less hours than being tracked this will inevitable show us a low sales per hour.

Summary

Targeting individual deficient sales statistics provides vital clues to Store Managers about the specific area of performance that should be targeted for coaching purposes.

Coaching on the most deficient statistic yields the greatest and quickest results and the potential the biggest improvement in sales performance.

The author of this article has developed a software program used by retail stores to quickly and easily calculate individual salespeoples statistics.

Tips for landing a job in retail

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Retail is one of the most popular industries to break into. Flexible working hours, staff discounts and career development opportunities all proving highly attractive to jobseekers.

While competition for retail jobs can be fierce, success in the retail recruitment process is well within your reach if you prepare in the right way. The first thing to bear in mind is that strong, determined personalities are often more valuable to retailers than pages of academic qualifications, so try to draw attention to your interpersonal skills and demonstrate how you stand out from the crowd of applicants. .

Jobs in the retail sector involve almost constant interaction with members of the public, so it is important to highlight your excellent communication skills and how much you enjoy dealing with people. Employers are more likely to give a sales job to a bubbly and confident person than a shy and retiring introvert, so always try to let your outgoing personality shine through.

The most successful retail workers are usually the ones who have a passion for their job, as this passion rubs off on customers and encourages them to make purchases. If you are applying for a retail job, you need to show that you have an interest in what the company sells; for example, if you apply to work in a clothes shop, try to demonstrate your interest in fashion, or the pleasure you get from helping people find clothes that make them look and feel good.

First impressions are extremely important in the retail sector, so if you are lucky enough to be invited for an interview, always ensure that you are well presented. While it is not always necessary to wear a suit and tie or a smart dress, you should nonetheless make sure that you are as well groomed as possible. Over-dressing will rarely count against you at a job interview, and making an extra effort at this stage will give you a much better chance of landing your dream job in retail.

About Author: Philip Weston is a freelance author and has vast knowledge in retail recruitment. For more information on retail recruitment agencies, he suggests you to visit https://www.randstadstaffing.co.uk

Hockey Boxes Retail Vs. Hobby Boxes

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Hockey cards have been around for a long time. From the Parkies in the fifties to modern day upper deck cards, weve seen several different variations throughout the years. Many people Ive talked to used to collect hockey cards as children, but have gotten away from the industry and have forgotten about the thrill of pulling that big name player from a pack of cards. Most people that used to collect are so far away from the industry now that they dont even know what companies provide product anymore or how to buy.

As children, we just bought packs. Collectors these days will buy packs, but really are more interested in boxes, especially hobby boxes. Lets talk about what a hockey hobby box is. The main players in todays market for hockey are In The Game and Upper Deck. In fact, they are virtually the only players. After the lockout of the 2004/05 season, a lot of the smaller companies that produced hockey cards either went out of business or were in a sense blocked from making hockey cards due to the fact that Upper Deck basically bought exclusive rights to the NHL and NHLPA. In the Game hung onto its market share by focusing on retirees and prospects, therefore getting around the Upper Deck monopoly. Both of these companies product multiple products in a calendar year and many of these products have both retail and hobby versions. What is the difference? Retail versions of products normally contain mostly base cards and are found in local corner stores that sell hockey cards. They are very much marketed for retail business to be sold more or less by the pack. Some versions of retail boxes do have special card hits, but they are the minority. A hockey hobby box on the other hand is made for the hobby card collector. Each box will have a good ratio of hits. For example, a twenty four pack box may state that the ratio of special card (being rookies, game used cards, or autographed cards) is one in four. They do not guarantee the ratio, but most times they are pretty close. In this case, the hobby collector would normally buy a whole box as opposed to single packs in order for the next to guaranteed ratio of special cards.

Why then do companies even produce retail and hobby versions of the same product? Imagine you are that child again who loves to collect hockey cards. Retail versions are easily accessible by the pack and because retail boxes contain less hits and more base cards, they are normally a LOT less expensive than hobby boxes. Children can still enjoy buying that pack of cards and pulling a special card of a special player. Hockey hobby boxes are normally much more expensive and are normally bought by more serious collectors who are adults and are interested in potential value for the cash they put out. Normally an entire box is purchased so the near guaranteed hits are gotten. Hobby boxes also are not allowed to be sold in retail stores, but must be sold in hobby stores only. This by itself would attract a different kind of collector.

Retail and Hobby versions of hockey boxes ensure that we are all able to collect the cards we love. For all the reasons we buy cards, there is a version that is right for each type of collector. Young and old can both enjoy the thrill of opening a pack of cards. Enjoy your favorite hockey box in hobby or retail version today!

Reasons You Will Lose Money Without A Full-blown Retail Pos System

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If you don’t have a full-blown POS system for your retail business, you are losing money — guaranteed!

The following are 10 reasons why,

1.Time is money.

As you sit at your desk, head in your hands trying to reconcile your balance sheet, the store next door, the one with the full-blown POS system has accomplished the same task in less than 5 minutes.

Most POS systems automate a wide variety of functions that normally take retailers tons of time to accomplish. Tasks like inventory and sales reports, end of the day balancing, purchase orders, and more. A full-blown retail POS system will automate all of those functions making hours of work take virtually seconds. As long as it takes you to push a few buttons. This saved time means hours on the clock, hours that you’re paying employees, hours that could be spent making sales.

2.Inventory shrinkage.

Stores without a POS system are more susceptible to employee theft; nearly 50% of retail shrinkage comes from employee theft.
POS software can help to significantly reduce or eliminate incidents. With instant access to “voided/cancelled/deleted sales reports,” “returned transactions” reports, and “inventory adjustments reports” you can easily tell when something fishy is going on. Additionally, with many POS systems you can password protect any area that you do not want employees to have access to.

3.Poor customer service means lost money.

Customer loyalty is fleeting, especially if you don’t give them anything to remember you by.

Your business and your customers can significantly benefit from a POS system. The most basic customer service benefit is the amount of time that is reduced at the checkout counter. But imagine being able to call up your customer’s profile based on your caller ID or being able to instantly check the status of a layaway or special order.

Additionally, digital copies of your receipts allow you to modify your return policy and take returns from customers without receipts.

4.Missed upselling opportunities and decreased sales.

Do you know what your customers are buying? It’s impossible to remember everything but your customer remembers and if you had a POS system, you would too.

POS systems enable sales associates to access information about customer’s previous purchases so that they may assist them better or provide them with information for upselling opportunities at the point of sale.

This excellent customer service means that you’ll increase your sales too. If for example a customer enters the store looking for an item that is out of stock, a quick check of your inventory on your POS system will show you what complimentary products are available.

5.Missed client marketing opportunities.

Do you have a customer loyalty program?

Did you know that many POS software systems offer client management and marketing features? These features enable retailers to send targeted letters, emails, and direct mailers to their customers based on demographics and past purchases.

Many POS software packages can easily produce a list of your top customers in minutes. Imagine being able to personally invite your top customers to a sale or offer them a discount for being such good customers. Some retailers use their systems to send thank you notes to customers after they’ve made a large purchase or letters to customers that haven’t made a purchase in a long time.

6.Ineffective check verification systems mean lost time and money.

The benefit to having your check verification system tied directly into a POS system is that the transactions, information, and all necessary tracking of the accounts are done automatically, thus eliminating the many steps of paperwork that would still be required if you operated a check verification system independent of a POS software system.

Steamlined systems mean that your time is spent making sales instead of handling paperwork. Each point of sale transaction is speedy and all information is available from one location — your POS terminal. Additionally, you’re adding the extra security that your customers deserve by having your transactions, check verification included, run through a secure point of sale software system.

7.Pricing mistakes and missed profit margins

Do you know what products are selling and at what price they sell the best?

POS software enables you as a retailer to easily determine which products are your fastest sellers and at what price point. This makes it easier to find that ‘ magic price point that allows you to maximize profits. Additionally, regardless of the size of your inventory, prices can be updated in a matter of minutes.

Additionally, pricing mistakes are virtually eliminated because you don’t have to rely on your employees to calculate the price of items. The computer has already done this, and your sales tax, and any discounts that may be applied.

8.Unhappy relationships with suppliers

Many retailers fail to ask for discounts because they don’t feel like they have the leverage of the big boys. In many cases, that’s simply not true. And if you have the facts and information to justify your request it’ll make your pitch all the more convincing.

If you utilize your POS inventory system to track markdowns and clearances, you can print a report that shows your supplier that your profit margin on their products is 6% lower than your profit margin from competing products. That should get their attention! Take advantage of that information and use it to negotiate better prices for future orders.

9.Website shopping carts?

If you currently sell your products online or ever plan to, then an integrated shopping cart POS software solution can save you a huge amount of time by automatically creating orders and new customers for you. An integrated shopping cart – POS software solution can also reduce errors because human data entry is always prone to more mistakes. These mistakes can make frustrate customers, eat valuable time, and mess-up your inventory. An integrated shopping cart – POS software solution can save you loads of time by synchronizing the inventory information and pricing in your POS software with your website.

Imagine for a moment that you want to start selling a brand new product line on your website. How long would it take you to manually add all those new products added to your website? With the right technology, all you have to do is check a box in your POS system and that inventory will be uploaded to your website. Your POS system will send product numbers, descriptions, images, pricing and other various inventory information to your website.

10.Inaccurate inventories and tedious ordering processes.

Ordering too much or too little of a product can create huge problems for retailers. POS software inventory control features enable you to keep your inventories streamlined by automating the ordering process. As soon as a product reaches a designated level, a purchase order can be automatically generated and sent to your distributor. Imagine the time you’ll save with that feature!