This Time Things Will Be Different with the Right POS Software!!
I have a saying that ProphetLine POS/Retail Management Software promotes good business practices and rewards good business people. According to a RIS Executive news brief, the gap between mid-market retailers and large retailers is getting wider because of the commitment to retail technology. Large retailers realize the absolute need to improve their retail technology and small retailers usually use this area as the first place to cut funding. If you do not have a well thought out strategy for updating store retail systems, the gap will become larger and catching up will not be an option.
Successful retail strategy is revolved around price, service and product. You need to be better than your competitors at one of them and competitive with them at the other two. You can’t be something to everybody, so pick a potential customer type that you wish to cater to and build your business around those customer demographics. This will enable you to more clearly understand and put in place your merchandise buying plans. If you have collected sales history from your POS software over the past couple of years, half the battle is won. If this information is not available, you will need to use an educated guess to come as close as possible to the monthly department and class sales over the last year.
The inventory buying process is 90% analyzing the data and 10% your instincts on what will be the fast sellers for the year. It takes work to achieve success in retailing, but you will be rewarded for this effort. ProphetLine POS Software can get you to that point where there is not a gap in technology. Our support staff acts as your technology staff and keeps you lean and efficient. If you are a new business, install quality POS software that will analyze the data and if you are an existing business with poor inventory analytics, change or die.