When it comes to running a small business, success equals sales.
And if you own and operate a general store, you know the importance of maximizing your resources to increase profits.
One of the best and easiest ways to do that? Find the right point of sale (POS) system.
Here are four ways that using a general store POS can boost your business.
Manage Your General Store Inventory Smartly
General stores carry a large variety of products, and to take advantage of this wide-ranging inventory, you need a point of sale system with industry-specific management features.
A quality POS system gives you a high-level view of your store’s operations by providing a comprehensive list of all products in stock, and every transaction. If you need to look up a specific transaction, filtering options allow you to search by everything from refunds to time range to tender type.
And with so many products to keep track of, you need a general store POS that lets you easily add items to your inventory. With a cloud-based system, you can scan an item’s barcode with a mobile device like a smartphone or tablet, to add or update your inventory from anywhere you have an internet connection. Access your store’s data and make the best business decisions on the fly.
Make the Most of Sophisticated Sales Reporting
Smart general store owners know the importance of understanding sales reports, and use them to make informed business decisions. A point of sale solution with sophisticated sales reporting gives you insight into which products are selling — and which are not — so you know how to stock your shelves to make the most profit.
General stores should also specifically take advantage of shrink reports to accurately update inventory. You know how losing products affects your bottom line, so stay on top of inventory loss by keeping track of shrinkage — whether that’s rotten eggs or dead batteries.
Understanding your store data helps you order the right products for your business, so you don’t have to worry about overstock or dead stock, reducing overall profit loss.
Reward Repeat Customers With Loyalty Programs
The best customer is a repeat customer, so look for a general store POS that has an integrated points-based rewards program that assigns points to every dollar a buyer spends at your store. They can redeem for discounts, like 20 percent off their next purchase.
Loyal customers have a huge impact on your bottom line. In fact, increasing customer retention by as little as five percent can boost your profits by as much as 95 percent — and a point of sale solution designed for general stores makes setting up a customer loyalty program a breeze.
Promote Special Deals and Discounts
Customers love a great deal — and are more likely to shop in stores that give them one.
Use your general store point of sale system’s mix and match pricing feature to bundle different items together at a discount, like a 15 percent discount off a bag of the week’s freshest produce, or $10 off a set of tools.
While it might seem counterintuitive that giving discounts actually boost sales, customers usually spend more money when they feel like they’re getting a good deal. And if they’re happy with your service, their recommendations to friends and family could also have a major impact on your profits.
Boost Your Bottom Line With a General Store POS
Successfully running your store all comes down to making smart business decisions — and that includes finding the right point of sale system for your industry.
With features ranging from inventory management to customer loyalty programs, a general store POS provides everything you need to boost your business.
If you’re ready to upgrade your operations, use our build and price tool to create your custom quote, or contact one of our Markt POS specialists to schedule a demo today!
