Running a retail store takes a lot of work. From ordering and managing stock at the shop, keeping records of stock sold, selling the items from your shop or selling them online, collecting payments, and so on.
To perform these operations, most retailers still use old school methods or outdated software on computers. You need to be up to date with the latest retail operations solutions that provide flexibility and ease to handle your shop.
If you spend most of your time managing your shop and don’t focus on increasing sales, your competitor wins!
Here are the three main steps you can take to simplify your shop operations and increase your shop’s efficiency.
1. Automate Manual Work
Doing things manually is not an easy task. Apart from the time taken to perform it, there’s always the chance of human error. This leads to a need for supervision or cross-verification which can take up the time you need for other important tasks.
Begin with checking which processes and tasks in your retail operations are taking the most time. Once you have a list, try to automate these tasks.
For example, if you’re still using a register to maintain your stock or entering product details into a software by hand, consider upgrading to a Point of Sale (POS) and Inventory Management Software or App.
They can help you add product details with a barcode scan instead of entering them manually. Some of the most common tasks that generally require attention in a typical retail shop are stock management, integrated payment methods and billing system.
If you already use some software to carry out these tasks separately, see if you can connect them together. Or try to look for a software or app that provides all solutions under one roof. This way you save a lot of time in learning as well as using multiple software.
2. Know your sales and inventory numbers
You have heard the word ‘data’ a lot. Data is all about knowing how your sales and products are performing to help make critical decisions in the retail sector. Having the right information will help you decide where and how to spend your time and money.
Instead of manually checking through your sales data, use a solution that can automatically search and provide you with the numbers, so you can focus on gathering insights and taking action.
Some software or apps can provide you with a sales report and even give you real-time information about the money your shop has made in the day, the week, the month or over a period of time. Such reports help you in optimising the inventory and increase customer satisfaction.
For example, if you notice more of your customers are looking to pay via credit or debit cards, you can invest in swipe machines and even get a PoS system so that you never miss a sale.
A complete report on payment and stock helps you in understanding which product is selling the most and which is still in the inventory. You can adjust the prices of the items and give discounts to customers based on such data.
One other thing that can be looked at in the sales data is the peak timing of sales. Depending on the report, you can get more salespersons or distribute the employee time accordingly.
3. Focus on customer satisfaction
This is the most common goal as a retailer. We recommend you use technology to increase customer satisfaction and create a loyal customer base.
Customers’ most common problems at a retail shop are – wait time, limited transaction options, and product unavailability. To ensure none of your customers has these problems, a PoS system can come in handy.
Unlike traditional cash registers, modern POS systems have a user-friendly interface that makes it easy for employees to operate and learn.
An easier operation at checkout will also improve checkout speed. Nobody likes to wait in line so decreasing the amount of time customers spend in it will make customers happier. And happier customers are more likely to make repeat purchases.
Additionally, you can set up an online shop for your customers where they can simply place their orders, make payment and pick up their product or get it delivered if their house/office is in the vicinity.
4. Key points to look out for in a POS system
Much of retail operations can be simplified with the right tools. When it comes to choosing the right POS system or finding the best inventory management software, Zadinga has you covered.
Our app arms you with powerful features and capabilities, so you can stay on top of every aspect of your store — from sales and inventory to billing and customer service.