Category: POS

Retail shrinkage is a common practice in retail stores. It includes factors such as employee theft, shoplifting, vendor fraud, admin errors, etc. It becomes difficult for retailers to identify shrinkage and work on retail loss prevention. Alasdair McKichan; President Retail Council of Canada rightly states that,

“Shrinkage is the single greatest threat to profitability in our industry.”

A high shrinkage rate results in the loss of profits. Therefore retailers need to make in-time precautionary measures for retail loss prevention and to combat retail shrinkage. As a result, this shall save the business from losing its profitability.

Retailers need to be more attentive and alert and hence should improve the store’s security. They should adopt such ways that help them with retail loss prevention and reduce shrinkage. A few of these ways have been listed below.

Ways to Reduce Shrinkage and Prevent Retail Loss

Focus on Employee Accountability

It becomes difficult to retain employee accountability in the retail world, due to continuous employee turnover. Constant turnovers can lead to high rates of employee theft which is one of the major causes of retail shrinkage. Therefore, employee accountability is one of the most effective ways to monitor and reduce shrinkage. In other words, retailers need to be vigilant and make employees aware that they are being observed. As a result, the staff will be cautious and hence shall result in the reduction of internal theft. Certainly, it is a productive step for the retailers because it helps them track cash management ways. Moreover, it keeps retailers up to date about the sum of cash and daily transactions.

Install Security Signs

An economical way to detect and avert shoplifters is to install signage in the retail store. Warning signs should be fixed at several places in the store to keep the shoplifters alert and inform them about the consequences they will have to face in case of shoplifting. Through these signs, the retailers need to clearly inform the shoplifters that the store’s policies are very strict when it comes to theft and hence there shall be no leniency towards such transgressors. In short, retailers must prosecute instantly so that the shoplifters, as well as the other visitors and employees, are witnesses of the strict action that the retail store takes and the strict policies that it follows.

Install Surveillance Cameras for retail loss preventions

Consider installing surveillance cameras to prevent theft activities. Consequently, it shall allow retailers to monitor retails store activities regularly and continuously. Moreover, retailers will have recordings that will enable them to access impermissible and intolerable activities. There is also a possibility that retailers can integrate their cameras with their POS system and several other loss prevention programs. By combining various factors together in one system, retailers will find it more convenient to track people’s movements and actions during shopping.

Security Mirrors

A budget-friendly substitute for surveillance cameras is security mirrors. Retailers can use these security mirrors as an effective tool to detect shoplifting and other doubtful actions. Retailers need to ensure that there aren’t any blind spots in their store for retail loss prevention. In case, there are any blind spots retailers can install security mirrors to observe and monitor these areas. Such areas that are blocked by shelves need to be made visible through these security mirrors. Moreover, these security mirrors are easily available for purchase.

Effective POS System fot retail loss prevention

A good and effective Point of Sale system allows users to restrict access to people. It allows user permissions to access it. As a result, these user permissions can help in retail loss prevention. In addition, retailers need to be aware of the voided sales because it is the simplest way to steal stocks.

Create a Retail Loss Prevention Environment

Working together prevents retail loss. By making your staff aware of the retail loss and by persuading them to take care of such negative actions, retail loss and shrinkage can be kept under control. When the staff will be considered confidants of retailers, they will make sure to help retailers with the external as well as the internal theft.    

Use Automated Cash Management

Another very effective way to reduce shrinkage is to use Automated Cash Management technology. The Automated Cash Management technology reduces the risk of theft of cash by employees or outsiders. Further, it allows retailers to track cash flows. Major automated cash management procedures include transaction processing, counting currency and storing cash safely. Therefore, by investing in an automated cash management technology, retailers can secure their business and hence prevent retail loss and shrinkage. 

Conclusion

The National Retail Federation states that the US retail economy suffered immensely in 2015. To clarify, the US Retail economy lost 45.2 billion dollars because of shrinkage. Therefore, retail loss prevention and shrinkage reduction require examination and vigilance on the part of retailers. They need to be aware of their daily store operations. Consequently, it will enable retailers a good insight into the malfunctioning of the retail store. Further, it will enlighten retailers to become aware of where things are going wrong and which areas need improvement. That is to say, the only way to reduce shrinkage is to identify its cause first and work towards its solution because “not controlling shrinkage is taking a shortcut to bankruptcy.” (John L. Pagliaro, President Dana Associates)

Can retailers provide quality service to customers even if they encounter bad tempers? Well, the answer to this is in the affirmative. Surely, retailers can keep their calm by utilizing a few tips and techniques on how to deal with difficult customers. Although dealing with difficult customers can be a daunting task, but by implementing certain useful ways, this challenging and discouraging task can become motivating and persuading. Therefore, with a positive attitude, the right state of mind and appropriate actions, retailers can effectively handle difficult and problematic retail customer situations. 

Follow the below-mentioned tips on how to deal with difficult customers. Consequently, retailers can turn their unpleasant customer experiences into chances and opportunities to enhance the company’s name and improve their business. We sincerely hope by the end of this article, retailers and their staff will be able to deal with difficult retail customers successfully and in a constructive manner. 

Listen

Listen to what customers have to say to you. Do not argue with the customers or reply aggressively and abruptly even if they seem impolite and angry, for example, stay calm and silent even if customers do not have the right information. Listen to them and hence try to build a link with them during this period by agreeing to what they are saying.

Empathize with them

Incase customers seem angry over something related to the store or their purchase, empathize with them. Show them that you feel for them. Further, understand their situation and deal with them accordingly. Above all, if the customer’s issue is identified, it becomes easy for the retailers and the staff to know the situation they are in. Consequently, it shall help you calm down the customers.

Speak slowly and in a lower voice

There might be such situations in which retail customers get really loud. Therefore in such situations, respond slowly by lowering your voice and remaining calm. Consequently, your calmness and optimistic demeanor will have a positive impact on customers. As a result, it shall help relax and tranquilize the aggressive and ill-tempered retail customers. That is to say, the anger will subside if you tackle situations with a calm and clear mind and get unaffected by the customer’s anger and rude behavior.

Be aware of the Surroundings

People behave well when they are aware that others are watching them. Therefore, keep in mind and hence act in a way that other customers are also watching you and your interactions with the aggressive and outspoken customer. Therefore, it shall make you more vigilant, aware and careful as to how to deal with difficult customers and how to respond to such customers. Moreover, it teaches you to be polite and nice to them even when they are not. This will enable you to be satisfied that you have done your best to attend to their worries in a convincing manner.

Do not Spend Excessive Time

Although be nice and polite as much as you can to your customers, but be sure to draw limits and know when your time is being wasted. If satisfying customers seems to be daunting and time-consuming, it is best to fulfill their legitimate demands to keep them away from interfering in your dealings with other potential retail customers. Therefore, try to attend to your more productive customers and do not waste time.

Do not take things personally

Ensure that you do not get personal even if the customer does. Although it is difficult to remain composed in situations when another person lashes out at you, still hold your nerves and hence remain composed. In other words, the staff should know that the customer is venting out their anger on the company and that they are just its representative. Remain gentle and take the conversation back to the issue and hence towards providing solutions. In short, avoid personal comments because it will not cause you any harm and shall only escalate the situation if you respond in the same manner.

Conclusion

Through continuous practice and implementation, retailers and their staff will be well versed in the art of handling customers. Consequently, it becomes the second nature of the customer service representatives because they become habitual in dealing with various retail customers.

However, there is no one hard and fast rule on how to deal with difficult customers, but what company representatives can do is to not just please them verbally but also emphasize on the non-verbal cues. Body language plays an effective role in convincing customers that the store representatives are listening to them and are willing to resolve their issues. Laurie Guest, Customer Service Expert rightly states that,

“Nodding, eye contact, and note taking are all excellent modes of silent communication. Most importantly, keep quiet. If you interrupt, the person will assume you are not listening and often feel the need to start over again. Patiently listen to the whole story.”

To sum up, all customers are not easy to deal with. That is to say, customers can be really tough and aggressive at times. However, it comes under a retailer’s obligation to deal with such customers amicably. The art to deal with difficult and cranky customers is to win and pacify such customers even when you really want to give them a hard time .POS could be an edge in dealing

Businesses do not run effectively if the employees are unsatisfied and unhappy. Employee performance and morale play a vital role in the success of a business. In other words, unhappy employees lack in performance as compared to motivated and passionate employees. Therefore, to boost employee performance, company managers and executive officers must encourage and motivate employees to enhance employee performance. Consequently, the entire store atmosphere and functioning shall get better.

Therefore, to help boost employee performance and morale, Teranoid brings a solution for you. Here are a few tips on how to boost employee performance and morale.

Recognize and Commend Employee performance whenever they perform well

One of the best ways to increase employee performance and morale is to recognize and appreciate employees. If employees are contributing to the business, they deserve applaud for it. As a result, recognition makes their performance better and encourages them.

Certainly, business managers and companies need to make it a regular practice to recognize and appreciate employees. Otherwise, the employees start feeling demotivated. As a result, they start reflecting on the lack of encouragement from the company. Hence they gradually lose focus in their work. Therefore, by regularly encouraging employees and through their positive impact on the company, they perform better because they understand how they influence the company goals and are making a mark. Therefore, it is important to let employees know how valuable they are. Moreover, the management team needs to make them aware that they recognize their efforts and appreciate their contribution to the company.

“Recognition is the greatest motivator.”

–Gerard C. Eakedale

Promote Peer to Peer Recognition To Enhance employee performance

Companies should encourage staff members to appreciate each other. Peer to peer recognition is equally important for better employee performance. It is a generally accepted belief that peer recognition is quite effective when it comes to boosting morale. To clarify, the people we work with immensely impact us. Even if we do not admit it, their opinion matters significantly.

Therefore, the management teams need to ensure that they create a positive and supportive work environment. Further, the companies need to promote teamwork and encourage the workers to support and uplift each other. Moreover, the turnover rates can be reduced through a “recognition-rich-culture.”

“To win in the marketplace you must first win in the workplace.”

—Douglas Conant

Emphasize on Employee performance by Training and Paying them well

The driving force that motivates employees is not just money, but we can rightly say that it plays a significant role in enhancing employee performance and morale. In other words, retailers with well-trained and well-paid staff have more chances of increased sales as compared to the ones with untrained staff with little wages. In short, training and handsome salary package directly affect employee performance. Consequently, this shall result in better sales and effective management.

The most ideal situation when it comes to reducing expenses is cutting labor wages. However, there is a high chance that by doing so the store operations may suffer. Effective customer management and stock availability are important factors in the growth of sales. Therefore, both these factors are highly dependent on efficient and satisfied staff. So, we can rightly say, by not paying staff well, the management teams discourage employees. As a result, it holds them back from performing competently.

“Employees are asking, ‘Where can I find my own advancement?’ If that means changing companies, that’s what they’re doing. They’re also looking for a work environment that has some flexibility. They’re looking for a better salary and a supervisor who treats them with respect.”

–Gena Champagne

Therefore, training and paying the staff well lead to productive outcomes. Consequently, this results in higher sales.

Listen to Your Employee to improve performance

A simple and easy way to boost employee performance and morale is to listen to them.

“An employee’s motivation is a direct result of the sum of interactions with his or her manager.”

–Bob Nelson

Certainly, the best people to give advice regarding the store’s matters are the working staff. In other words, they are the ones who are well aware of the store’s performance. Consequently, they advise accordingly, for example, the products that are in demand and that must be restocked, or the need to provide technology solutions for customer convenience, such as automated checkouts, digital price tag technology, and a high-quality POS system.

However, the management team must be willing to listen because

“the leaders who don’t listen will eventually be surrounded by people who have nothing to say.”

  –Andy Stanley

To sum up, it is the employees who regularly interact with customers. Therefore, they are aware of their likes, demands, and issues. Further, they are able to identify the areas that need improvement. Therefore, by listening to employees, employee performance and morale is boosted because they feel valued. Secondly, their recommendations can positively impact the business.

Enhance Employees performance with up-to-date tools & gadgets

Companies must invest in up-to-date and effective tools and gadgets. Consequently, this empowers employees because they are trusted with handling the advanced tech. Moreover, advanced gadgets make the store’s management more effective and quick. One of these various effective gadgets could be a good Point of Sale system. That is to say, instead of using outdated cash registers, employees should be empowered by providing them with a good POS system. Consequently, this shall make their job faster and easier.

Therefore, look for effective tools for the store, most importantly, try replacing the outdated cash registers with fast and effective POS system, because it helps drive traffic,

“This promotion will be a definite traffic-driver at retail. Retailers will be featuring some eye-catching POS materials to support the promotion and we’ve made the whole process easy for any retailer to get involved.”

–Daniel Dower

Conclusion

It is imperative for organizations to identify and determine the unhappy and demotivated employees. Moreover, they must discover the cause of low employee performance. Consequently, they must implement strategies that help improve employee performance and morale.

The employee performance has a direct effect on customer service, sales and the overall performance of the store. Therefore retailers and company managers must hire appropriate and suitable employees so that the store’s performance does not get affected. Moreover, the managing team must work towards keeping the customers satisfied and happy.

“When our morale goes low, we improve it by increasing our supportive communication, accountability, service quality, acts of kindness, conflict resolution, happy engagement, positive self-talk, time management, productivity, good finder recognition, cohesiveness, passion levels, resilience, and small wins results.”  

–Ty Howard

How PR (Public Relations) can be utilized to drive Restaurant Growth

Real restaurant growth certainly depends on the number of customers. Further, today’s restaurant market is very competitive. That is to say, the diner is provided with a variety of restaurants to choose from. Moreover, there are other independent restaurants that are continuously in the race to become distinctive. Restaurant owners should follow the below-mentioned tips if they need to stay ahead of the game. In other words, Public Relations is the main key to drive hotel growth. How hotel owners can use PR to drive their hotel growth is discussed below.

Plan Local Restaurant Events with Campaigns

Local restaurant events can attract not just local residents but also tourists. Certainly, people are in search of restaurants because they have to eat somewhere. Therefore local events are very productive for this. That is to say, they are a means to create traffic to a large extent. Moreover, hotel owners should create advertising campaigns within these local events. In other words, restaurateurs can simply run an ad campaign. As a result, it will give people a good reason to visit the store.

The restaurant must be involved with the society & community

Customers prefer the involvement of restaurants with the community. That is to say, consumers are more inclined to visit such stores that are active socially. Certainly, people remember the restaurant’s name that is involved in social service. Restaurateurs can organize charity functions. Secondly, retailers can also set up food stands at local events. As a result, restaurateurs will reach out to consumers. Firstly, the other visitors at the event will notice the restaurant. Secondly, the hotel can also target the other participants who have visited the event because of the campaign. Thirdly, there might be some people who will not be able to attend the event. However, they shall support the hotel because of its support to the community. Restaurateurs can let people know about these social services events through press releases, social media channels, and local advertisements.

Restaurants can turn their regular customers into promoters

There are regular customers who are fond of good food. That is to say, these are free promoters of the restaurant. In other words, such customers can be taken as promoters. Therefore restauranteurs must benefit from such customers more. They should be provided with excellent customer service. Further, remember the names of regular customers. It gives them the feeling of being one with the hotel. That is to say, they can offer loyalty cards and discount coupons for such customers for bringing in their friends.     

Have an Impactful Restaurant Story

There is a very effective way through which restauranteurs can set their restaurant apart from others; i.e. an impactful story. In other words, if the culinary place has no story, it is just another food outlet promoting food to gain profit. However, a meaningful story impacts customers. The brand’s story will involve personal information. As a result, customers will be able to relate to it. The story must have such an impact that customers feel more than just having food at the restaurant. Consequently, the customers, as well as the press, will not just recommend and praise the food, but also mention where it came from.

Restaurant Owners should be experts of their skill

Restaurant owners should prove to be experts. For example, they can share their unique recipes or cooking tips. Some people think that by sharing their recipes their secret shall be out. But people still visit the restaurant because they do not want to cook and hang out somewhere. Moreover, restauranteurs can prove to be experts in sharing their business success story.

Create an Exceptional Restaurant Experience

In order to grab the attention of the customers, restauranteurs need to create the best experience for them. That is to say, serving tasty and quality food is certainly a must. In addition, restaurant owners should provide customers with the best and most pleasant restaurant experience. For example, planning themed hotel. Further, providing customers with a dessert of their own choice. Moreover, restaurant owners can provide customers with live music or any other form of entertainment.    

Promote the Hotel through various Channels

Restaurants owners need to be active on all social media platforms along with local campaigns. Postings on social media and websites are mandatory. Moreover, retailers should provide easy access to customers to their social media pages and websites. Restaurant owners need to draw more customers towards their restaurant. Therefore, they should be given a solid reason to visit the hotel. In other words, customers are inclined to visit outlets with an active and happening presence on social media.

Conclusion

Growing hotel sales highly depends on investing in publicity. In order to do so, hotel owners need to create an exceptional experience and outstanding customer service and story. Restaurants that have this view will be far ahead of their competitors. In case restaurant owners are not managing their hotel operations with a POS System, they should immediately opt for one. It manages inventories, sales, employees, and customers simultaneously.    Toggle panel: Post Options

In case the retail store does not have enough employees to handle the rush, retailers need to hire more staff members before the holiday season. Some retailers might need to hire more cashiers while some others should hire the floor staff. Moreover, some retailers might need to hire security personnel. However, retailers need to ensure that with the hiring of new employees, there is a chance of internal theft. Therefore, retailers should follow a few tips to secure their store’s internal theft. Firstly, check with the employees’ backgrounds. Secondly, set user permissions in your Point of Sale systems so that employees have limited access to the cash and confidential store information. Further, keep the employees happy, satisfied and motivated so that they do not indulge in internal theft and do not take the store’s safety for granted. In addition, do regular inventory counts. Consequently, it will reduce shrinkage.

Secure your POS System in the Holiday Season from hackers

Big crowds and rush hours can make the POS area really crowded. Therefore, it will increase the possibility of retail crime. Hence, retailers must also take certain measures to secure their POS systems. Firstly, retailers should inspect any tampering activity that takes place. In other words, retailers must take care of any unusual activity that indicates a change in the device and an unusual activity regarding its functioning. Moreover, retailers must ensure that their network too is secure. Retailers should use a separate internet connection for their POS system and must not use the local store internet connection. In addition, retailers should also ensure that they encrypt network data.

Try following the above-mentioned ways and enhance the store’s security and safety in the busy holiday season.

Since the emergence of credit cards in the 1950s, the digital world has drastically changed the retail business. That is to say, in that time credit card machines had taken the retail business by storm. Similarly, today, an efficient POS System is a must for the future progression of any retail business. In this article, we shall acquaint you with the reasons for how a good and effective POS System will assure the future progression of a retail business.

Smart Payment Method through POS System; essential for Retail Business

Because of the digital advancement, cash, as well as the cash registers, are becoming extinct. In other words, the buyers have way more advanced options than carrying cash along with them. For example, credit cards, debit cards, and prepaid cards. In the same vein, contactless payment is another very effective and simplified payment method for the retail business. In addition, all these modes of payments are more advantageous and less time consuming as compared to cash. To clarify, cashless payments provide speed and ease for retailers. Moreover, it is a secure and transparent way for both retailers and consumers.   

Above all, most of the consumers today prefer smart payment options. That is to say, most of the tech giants provide the facility of smart payment to consumers. Therefore, it provides a more convenient way of payment to consumers. As a result, retailers must be ahead of the game and integrate with the effective payment system today. That is to say, retailers should implement a POS System that integrates with these advanced payment methods. In other words, get a tablet-based POS system that accepts payments from mobile, credit cards and even cash, because, although less, there are still consumers who proceed with the payment option through cash. That is to say, retailers need to invest in a good POS System to ensure the future progression of their retail business.

POS Cloud Based technology guarantees Retail Business’s Future Progression

In today’s advanced world it is imperative that retailers have access to their store’s transactions and sales records. That is to say, retailers must not sweat over sales accounts and essential store records. Therefore, this essential data must be accessible to them at all times whether they in the store or not. In other words, in order to practically implement this, POS cloud technology comes into play.

Cloud-based POS feature allows retail businesses to easily access data. Moreover, retailers can upgrade their software across various stores, all at the same time. Retailers can handle their retail business effectively by handling multiple stores at the same time. As a result, it is less time consuming and convenient. Therefore it is through the cloud-based POS system that retailers can secure their store’s data and ensure the future progress of their retail business. We at Teranoid provide retailers with an effective POS system that is fully Cloud compliant.

How the CRM feature helps a retail business enhance customer relation experience

Today’s highly competitive world requires retail businesses to have the appropriate and timely use of technology to enhance the customer experience. Moreover, technology should be used to improve customer service, which is the prerequisite for the success of any business.

Customers prefer such brands that involve the element of personalization. Further, customers shop with such brands that give offers and suggestions relevant to them. The question arises; how is a good POS system effective in enhancing customer experience? A POS is not just meant to provide detailed accounts of sales, but it also manages clients well and enhances the customer relationship experience. A good POS system provides retailers with CRM (Customer relationship management) dashboard. By checking a customer’s dashboard, retailers can know well about the customers’ purchases and consequently about their likes and interests. Therefore through the CRM feature, retailers can build loyal and long-term customers. As a result, these loyal customers are the ones who secure a retail business because they get the sales rolling.        

AI Technology for Retail Business

Artificial Intelligence has immensely impacted the retail business. That is to say, the majority of retailers prefer the AI technology in their POS Systems. Above all, AI helps retail businesses to complete the order procedure and transactions and refill stocks. Further, they inform the retailers about changing customer trends and behavior. Moreover, the AI technology suggests retailers about potential customers who must be engaged more and about the sales and promotions.

The AI feature in the POS System simplifies the retail business’s payment methods. That is to say, online payments are easily integrated with the POS systems through its AI feature. For example, mobile and chat payments, website and store purchases. Therefore, the AI provides a flawless and convenient omnichannel shopping experience.

The POS technology is evolving day by day. It is through an efficient and smart POS System that retail businesses will be able to secure their future progression. In other words, POS Systems allow retailers to enjoy a seamless overall sales experience. Moreover, it not only acquaints retailers with the products in demand but rather it uplifts the customer experience

The holiday season is an effective way of marketing. Hence, retailers need to be prepared beforehand for the holiday season. However, many retailers do not realize how important it is to be prepared ahead of time. That is to say, marketing begins quite early in the age of retail. One very simple and basic way for marketing in the holiday season is holiday packaging. People start shopping way ahead of time. Therefore, retailers must get benefited from holiday packaging, a very powerful marketing strategy.

Holiday Packaging; A Convenience for Consumers

The most common concern that consumers have is convenience and ease. Similarly, when it comes to holiday packaging, consumers lookout for simplicity and convenience. In other words, consumers want retailers to understand their needs. Hence, they expect the easiest and convenient ways from retailers. The holiday season is a busy time of the year. Therefore, the simplest way that retailers can provide to the customers is to simplify the gift packaging procedure. That is to say, brands should make the holiday packaging procedure simple and easy so that customers are attracted to the brand.

Retailers are already offering certain benefits to consumers. For example, free shipping, simple return policies, etc. However, these benefits have become commonplace today. Therefore retailers need to be innovative and move a step further from these common marketing strategies. That is to say, retailers need to stand out and be unique in this competitive era. Hence, holiday packaging is one such unique perk that retailers can offer to their customers.

How Holiday Packaging visually appeals & attracts customers

The way a product looks carries weight. In other words, the brands whose products are visually appealing attract more customers. Attractive gift packing immensely influences customers. That is to say, customers are driven more towards products and stores that have appealing displays and attractive holiday packaging offers. Therefore, an attractive and eye-catching holiday packaging is essential for positive customer experience. It adds value to the retailers’ brand. Moreover, it provides customers with a memorable experience. As a result, they remember the brand’s name and are more likely to return to shop.

Above all, it is quite significant for branded retailers. In other words, retailers who are linked with external suppliers need to market their products more intensely. That is to say, retailers need to be highly competitive and motivating when the products they sell are being sold by others as well. Hence, planning gift packing ahead of time gives retailers an edge during the holiday season.

Holiday Packaging; an Online Seasonal Marketing Approach

Holidays are a source of massive income for retailers of all types. That is to say, much of the revenue is generated during the last months of the year. However, there is strong competition between retailers when it comes to getting customer attention. Moreover, consumers opt for social media channels to search for their desired products. That is to say, they plan to have a closer look at the items later, but first, they want to make sure which brands offer their desired items. That is to say, seasonal marketing is the approach retailers adopt in order to grab customers towards the store. Consequently, an effective holiday packaging strategy helps retailers achieve this goal. In short, it is through online seasonal marketing that retailers can convince the consumers how enthusiastic they are about the festivities.

Customized gift wrapping is a very effective way to promote a brand. For example, custom wrapping sheets, custom boxes, and tapes, gift tags, thank you notes with the brand’s name. Therefore, retailers can market these customized holiday packaging items online, so that the customers are drawn more towards the store.

Conclusion

Certainly, holiday packaging is an integral part of the holiday season. But, it is time-consuming and requires extra effort for consumers. Moreover, it is not something that people enjoy but take it as a necessary element that cannot be overlooked. Therefore by offering to take the burden of gift packing on their shoulders, brands become a viable option for the consumers.

best POS Software is essential for the retail industry. Retailers should be aware of the key features that they should look for in a POS System. This article explains extensively what a good POS System must have.

Inventory Management

The most prominent feature that a best POS software has is its ability to track inventories. A good inventory system keeps track of products. Hence, it always keeps products in stock. This delights customers because their desired products are never out of stock. Research shows that maximum shoppers stop shopping from a store if they cannot get their desired product or if any product is out of stock. Having a good POS System that manages inventories well is an indirect source of satisfying customers. As a result, it helps retailers get regular customers. It further saves one from the distress of losing customers due to unavailability of products.

This POS feature further helps retailers predict product demand for the future. In this way, sales are well managed. Moreover, it has the ability to find products that are out of stock from their other stores or from the warehouse. This enables the items to be delivered to their store or directly to the customer’s house.

Data Usage

Another significant feature that a best POS software has is its ability to collect relevant data. This data helps retailers take their business to another level. Retailers have valuable data of their customers, and a good POS System keeps a track of them. This will help retailers make loyalty programs and reward-schemes.

Research shows that more than 60% of customers stop shopping at a store if they are not recognized as a regular customer. In order to avoid such unpleasant situations that directly affect businesses, retailers must make marketing strategies using customer data to keep them satisfied. This POS feature helps retailers target customers’ demands and needs. In today’s highly challenging market, retailers cannot take their customers for granted.

Data Accuracy with best POS software

Another key feature that retailers must look for in a best POS software is its ability to manage skills. There is no point buying a POS System if retailers cannot trust the efficiency and accuracy of their POS System. A POS System needs to be efficient as it must be able to generate reports in time, manage inventories well and collect essential data with accuracy.  

System Security with best POS software

A best POS software should be able to secure the organization’s data. POS System keeps secret records of companies. They keep inventory and cash records which are confidential. Hence POS System must be able to secure valuable company data and records.  

Customer Support

Technical products require customer and technical support along with them. While investing in a POS System, retailers need to make sure that the service providers are competent. They should have a responsive customer support team that is able to solve technical issues in minimum time.

Sales Reporting & Analytics

Sales reporting and analytics is another important feature of the POS System. It permits retailers to analyze their sales income. It informs retailers about the overall performance of their shop through reports and metrics. Because the POS System provides concrete data, therefore retailers are able to take efficient steps to increase productivity and sales. It reveals the product details that are high in sales and the amount, retailers are generating through certain products. It further helps retailers enable products that generate maximum revenue. In this way, retailers are never out of stock of such products that drive revenue. This allows retailers to identify their most demanded and money-making items. Hence, they can focus on marketing them and make strategies to generate sales.   

Customer Management with best POS software

This POS feature collects customer’s data relating to their purchase. It helps retailers identify their most valued customers. Customer Management feature further helps retailers build a more emotional and deeper contact with regular buyers.

A good POS System helps build loyalty programs through its customer management feature. Stephen Lankler; managing director and business head at CIT Digital Small Business Solutions says that Customer Management “allows merchants to get more control around buyer data. You can then start to layer on this new opportunity to understand who your customers are and build loyalty programs around them.”

Customer Facing Display

Customer-facing display, another notable POS feature, enables customers to witness the transaction process. This helps customers detect issues on the spot at the time of purchase. This POS feature must be considered if retailers have the budget. It is beneficial for the growth of the business as it satisfies customers and customer satisfaction leads to better sales.

Having a customer display increases customer engagement. It leaves a positive impact on the customers because it represents professionalism on the retailer’s part. It further helps retailers gain customer trust and provides them convenience. It has the ability to reduce human errors and continuous modifications at the transaction time. Customers usually need enriching and pleasant experience while shopping and they appreciate retailers that offer them just that.

Conclusion

By going through these features, retailers can get an idea about the key features that their retail system must have. Experienced and professional retail providers offer these POS features along with several others. Retail owners can no more take the risk of choosing software that lacks these essential features.   

A Retail store’s success highly depends on retail merchandising. Further, if it is implemented in the store the right way, it can immensely attract customers. Moreover, it encourages customers to buy products and enhances customer experience. However, if implemented the wrong way it can drive customers away. Hence, to help retailers increase sales and customers, we have mentioned below a few significant retail merchandising tips and techniques.

Retail Merchandising demands Effective Customer Dealing

Certainly, effective retail merchandising comes with the best knowledge. Most importantly retailers can get the best knowledge from their consumers. Therefore it is essential to know customers well before initiating retail merchandising implementation. Hence, retailers can successfully implement retail merchandising by conversing with their consumers.

For this, firstly, retailers need to understand the consumer’s behavior and choices. For example, retailers should be aware beforehand and assume what customers demands and queries will be. Secondly, retailers should directly talk with customers about their preferences and demands. Further, retailers can send surveys to their customers and solve their queries. For example, a point of sale system retail store can inquire from their customers about the features that they expect in their POS System. However, in case of other retail stores too, retailers need to research well about their customers. Thirdly, retailers should plan their retail store setting and should place their products based on their research. Therefore, retail merchandising is improved through customer research and interviews.      

Appealing window-displays; An essential retail Merchandising Tip

The best place to implement retail merchandising is window displays. That is to say, retailers can begin implementing their merchandising by selecting the right theme. In short, retailers can get the attention of their customers through effective window displays. Further, placing products at the customer eye level is also important. Therefore retailers should place the products attractively and ensure that they match the customers’ eye level.

Retail Merchandising Tip for the Employees

Employee training in managing effective retail merchandising is essential. In other words, employees certainly play an effective role in implementing retail merchandising in stores, most importantly, when retailers are aiming to sell slow-moving products. In addition, there are some slow-moving seasonal products. Therefore retailers can promote such products through their employees. That is to say, the practical uses of the product can be demonstrated to the consumers in an event or gathering. As a result, retailers will invest in buying the product based on practicality and value.   

Effective Signage

Retailers should use signage for useful and effective purposes. In other words, signboards should be such that they should advertise the product and help customers inform about the right products. Further, the signage in the stores should help customers find their desired product easily. Moreover, these signage boards should state the message simply and make it convenient for consumers.  

Refresh Displays

Retailers should keep changing their displays so that they look fresh and clean. Further, retailers should enhance the front part of the store more so that customers are fascinated by the products. Moreover, retailers should highlight their products and change them according to season and demand. Above all, retailers should not neglect the window displays and must ensure that the products displayed should be trending and up-to-date. Retailers can use a calendar so that they do not forget the days on which they have to change their products and reinvent their displays.

Cross Merchandising Tactic

Retailers should place similar and complementing products adjacent to each other. In other words, retailers should know well what their customers would demand and hence should stock and place the products accordingly. Certainly, there are such products that go along with other products and hence captivate the consumers’ attention.        

Enhance In-store Experience

Using in-store technology is another tactic that helps retailers’ implement retail merchandising in their stores. Further, this enhances customer service. For example, tablets placed at different sections of the store helps customers find their desired products easily and in less time.

Provide Sample Products & Testing Facility

Certainly, it is a very effective retail merchandising technique to provide customers with testing before purchasing facility at their stores. Hence, retailers should consider implementing this strategy in their stores. Therefore, if possible, retailers should let customers test the products that they intend to buy. As a result, it will enable retailers to not just enhance their customer experience but also contribute to the sale of products.