How Can Retail Epos System Can Increase Sales and Reduce Costs?

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.

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