We all probably have an idea of what a point of sales or POS system does. Any business which is related to retail that is publicly accessible would probably have this by now. By retail, this can include grocery stores, convenience stores, bookshops, clothing and apparel, food and dining and even services related stores such as spas and the like. Practically, thats every store that we all walk into on a day-to-day basis. So, whether you have one store or multiple ones, Im pretty sure, you will have a POS system in your store. if so,you would know that this allows you to record every single sales transaction that happens and view these transactions as well. It also records your stock movement. You also use it to check if your sales and your inventory reconcile with each other. However, did you know that this data in your point of sales system can greatly help your marketing efforts?
Take for example you have a store or a business that sells clothing and apparel. Daily, you bank on your consumers to make the sales that you need in order to make your business profit and daily, you can see how your sales are doing through the records of the sales transactions that your POS records. By checking your sales transactions over time, youll notice that specific patterns emerge. It could be that at a specific season or holiday, youd see that some of your merchandise gets sold quickly and some of it does not. Over time, youll also see which merchandise gets sold no matter what the season is and which do not sell. Once you see these patterns, you now get an idea on how your merchandise moves throughout the year. This means that your sales transactions and patterns also give you an idea on how your target market moves and thinks. Once you know all these, you can fine tune your marketing efforts in a way that profits you the most, that is, you can almost predict what your consumers want and give it to them.
For example, when you see that a certain merchandise such as say, red dresses, are more sought after during the Valentines season and Christmas season, you can then create a marketing plan for the following year that uses this data. You can stock up on these and promote these heavily as well. When you see that faux fur coats only get sold a few months before winter and during winter, you can stock up on these during these months, take it out after winter and then move on to another type of merchandise that is in high demand during spring and summer. Basically, you can use your point of sales to procure data that will help you create your annual marketing plan which can involve seasonal promotions to push products and give out a prediction on your consumers wants and needs. Your point of sales system then helps you prepare and become the most viable business available to consumers.
Take for example you have a store or a business that sells clothing and apparel. Daily, you bank on your consumers to make the sales that you need in order to make your business profit and daily, you can see how your sales are doing through the records of the sales transactions that your POS records. By checking your sales transactions over time, youll notice that specific patterns emerge. It could be that at a specific season or holiday, youd see that some of your merchandise gets sold quickly and some of it does not. Over time, youll also see which merchandise gets sold no matter what the season is and which do not sell. Once you see these patterns, you now get an idea on how your merchandise moves throughout the year. This means that your sales transactions and patterns also give you an idea on how your target market moves and thinks. Once you know all these, you can fine tune your marketing efforts in a way that profits you the most, that is, you can almost predict what your consumers want and give it to them.
For example, when you see that a certain merchandise such as say, red dresses, are more sought after during the Valentines season and Christmas season, you can then create a marketing plan for the following year that uses this data. You can stock up on these and promote these heavily as well. When you see that faux fur coats only get sold a few months before winter and during winter, you can stock up on these during these months, take it out after winter and then move on to another type of merchandise that is in high demand during spring and summer. Basically, you can use your point of sales to procure data that will help you create your annual marketing plan which can involve seasonal promotions to push products and give out a prediction on your consumers wants and needs. Your point of sales system then helps you prepare and become the most viable business available to consumers.