10 Ways To Drive Your Retail Business With An EPOS System

1. 10 Ways To Drive Your Retail Business With An EPOS System An integrated EPOS system offer many ways to drive your business to next level. No matter with the size of the retail operation. Some of the most compelling reasons you should look to integrate EPOS into the very fabric of your business. 1. Sales A shocking statistic that every British retailer lose £1.4 billion due to busy checkouts. Customers least bothered to wait, so the sale is lost. Imagine a situation where lengthy checkouts could be solved quickly and simply. By doing so customer experience could always be positive with shorter queues and faster service. If you integrated BillPay with your POS system, this would mean that your cashiers wouldn’t have to leave the system to handle the transaction, thus increasing speed and customer satisfaction levels. 2. Happier Customers Another advantage of integrated EPOS system is the ability to offer customer choice at the checkout. It may not be comfortable for everyone using self service right now but the trend is very difficult towards self-checkout if it means a shorter queuing experience. 3. Flexibility A kiosk or mobile POS unit can help you blast queues that can literally go where the queues are. If your deli is busy during the lunchtime rush, simply move your mobile POS there and take the pressure off your primary checkout. 4. Price Management You can manage price and margin much more smoothly with integrated POS. It’s simple to up the price at the deli counter during busiest hours and revert to normal pricing immediately afterwards. Alternatively, reduce the price of items during the night to entice customers to your store. 5. Control In a situation where you might want to increase price where physically changing the fixed shelf labels will probably wipe out your extra margin. Doing electronically via your integrated EPOS retail system is instant, reversible and time-efficient. This facility really comes into handy when you operate multi-site operations. Profile your margins and change prices in each individual location based on its ability to bear higher costs. In a more affluent area charge more prices than for a similar store in a less prosperous area. It is done centrally from head office with minimal cost of manpower. It can also be useful in a situation where sudden global price increase needs to be implemented. 6. Marketing Another application is to increase impulse purchase with an instant, intelligent promotion that won’t cannibalise another product with epos system for small business. 7. Real Time Reporting EPOS system is capable of generating high level KPI’s real time reports providing with the exact information at the right time from anywhere. You can be on business abroad and still able to make key decisions on issues that are arising back at the ranch.

2. You can also generate reports on individual store performance, group performance or individual product performance. It helps the management to get a 360 degree view of overall performance in an instant. 8. Stock Management Stock management is the critically contributor to your bottom line. Approximately 70% of all shrinkage is due to either poor stock management practices or direct pilferage. It can be difficult to control your customers are to pilfer but you can definitely your staff through smarter stock control. Mobile scanning technology helps stock control audit to be carried out quickly. Based on the results of the audit, automatic replenishment can be built into the equation. It may be surprise to hear that out-of-stock products cost retailers over £4 billion each year, so letting stock lapse is not just inconvenient for your customers but costing you money. Reporting is also important in the food wastage area. Getting reports on regular time intervals never let you lose money by out-of-stock items and also wasteful gluts. It helps staff to have accurate information on how much food to prepare and at what time of the day. 9. Ease of Integration Another key area is paying dividends in the area of automation and integration. You can easily integrate a loyalty scheme into a single visit to the teller, so you don’t waste time handling the loyalty element separately. Members can be instantly informed of promotional elements that may be of interest to them. 10. Sales Promotion An effective digital strategy for your in-store screens can also be used for subtle. It’s not about constantly bombarding your customers to buy with the messages, but by rewarding them with what they need to be happier, more fulfilled customers. The bottom line is that the number of ways you can improve profitability with an integrated epos system for small business is only limited by your imagination.