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Register Reports

POS SOFTWARE

 

Retail data analysis analyses everything in your business, from sales to stock to your customer data. The AI now makes it better. It is often used to track customer behaviour and traffic, but it can do more for you.

It is not only applicable to large retailers. SMB retailers, like you, can use information collected from your POS systems. Then the significant advantage that you have is that you can move quickly and so react faster.

Retail analytics example

We are using Father's Day as an example so let see how it went for you with this quick and easy method. It will take you less than a minute to do!

Go to Register reports

Now select Sales register > Sales comparison

 

 

As a first and quick example enter in this:  

 

Retail analysis report

You will get a very detailed report of what happened on that day for you to review.

Retail data analysis provides the information you need to make informed decisions. This will increase your revenue and profitability.

Note: What does appear to have sold well this Father's Day was decorated Coffee mugs and Whiskey tumblers.

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POS SOFTWARE

If you have a dispute over an item that involves your supplier, you need to have the invoice number that you received the item.

Sometimes what so often happens here is that you no longer have the in-house barcode to track it down. Assuming you ever had it. 

What can make it often quite tricky to find as many of the item's details you no longer have. I had a client that got from a customer a pair of returned shoes without the box. So, where can they get it? They knew the style and the colour but little else. Well, it was easy to get the invoice number and so the invoice details. It only took a second. 

Go to Reports > Stock Purchases > Purchases by invoice for a Given period

Put in the likely supplier, if possible. Then put in the possible date ranges. Generally, the warranty period from the supplier is fine because if its outside that you are in trouble. 

Now on the top of the report, press the little binoculars on the top. See where the green arrow is pointing above.

Now in the blue arrow region, put what you know of the item. It can be just about anything, e.g. white, and press "Find Next". Keep pressing "Find Next" till you get it. 

Now you have the invoice and its date.

It is also worth examining this whole section fully as you will find a lot of information for searching.

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POS SOFTWARE

 

Retail is changing. As such, what people buy from you changed too. The problem here is that our memory is like a camera. What can be in it is what was not what is now. This can cause significant problems. Own here is an excellent report to show you the shift in your sales shop.

Go to Cash register > reports.

Then Sales -Register> Sales comparison for a given period.

Above in purple, I put in the last few months and notice that I am using a few years back in comparison.

Now also notice in green that I changed the comparison from percentage to currency. This is because what happens is small departments often show dramatic changes. So, for example, a department with $5 in sales then, now having $20 sales, has a big percentage increase. In reality, is not much of a change

Try it.

Put in your figures and see.

 

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Suddenly yesterday, a few people asked me how to get each item's actual stock sales over the last 12 months. 

What they want to see is how many items they moved each month in a department. To do this, you need two years of history. So although we have a report that shows 12 months, I showed them the 24-month sales history report. This is because of what required when looking at sales is to see what you sold last year about this time. For example, Easter is coming up. Say you sell Easter items. With the previous 12 months, you will miss all the sales leading up to Easter for these items. That is why large suppliers often work with figures for the last two years. They then tend to quote you such statistics as this time last year, you sold ...... 

Plus if you are looking at Easter, you may want to look by a selected supplier with these Easter items or a selected range of items marked for Easter. So you rarely need the whole department, as it is too big. 

Well, it is all easy to do and will take you a second to find out.

To get started, go to Register Reports > Sales Stock >  Stock Sales Details 24 Month Trend.

Now put in the criteria you want, and you will see the above report.

You get a lot of detail, the stock on hand figure, two years of history, the total sales, etc.

This report can help you to get helpful insights into the stock that you sell.

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This is a problem faced by our clients that have shoe shops, in our specialised shoe pos software. I cannot see why any retailer cannot use this tip.

The situation is that a huge number of very similar products exist but almost all the sales are in a few lines. This is why most POS systems are useless in shoe shops. They show what we call the granular sales of the department, not the item sales. 

This is where our sales per product reports come in.

These make it easy to identify your best (and worst) selling products. They help you to determine your winners and losers. Suppose a particular product is selling well, its a winner, so you could consider ordering more of it. If the product is not performing, then the early you find out, the better.

This can be useful in any industry, and let me shop you step by step how to find your winners.

Go to Register reports.

 

Now pick "Top N Stock Sales for a Given Period."

 

Now in the form put in the last four weeks, pick a category and outcomes a report with your winners on top.

Now do something!

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POS SOFTWARE

Now is an ideal time to see how you are going.

To do this, retailers often measure their performance by the current to last year's figures.  Although many do this by months, working in quarters, here is better. But if you prefer months, work through this example with me now and then once you grasp it, do this analysis by months. 

What this will do is show you how financially COVID hit your business. It will also give you insights into the health of your business. Everyone I have talked to about this has told me that their current financials look weird. 

The report itself is elementary and straightforward to do with our system and will only take you a second to do. 

Go to 

Main Menu > Cash Register > Register Reports > under the Select Report tab, expand the Stock folder > select the report "Dissection Family Class Period Sales Comparison."

Then you will see this screen.

Now put in the left side.

From dates 01/10/2019
To Date 31/12/2019
 

On the right side 

From dates 01/10/2020 
To Date 31/12/2020
Congratulations! You have completed a Q4 analysis.

Now you have much to think about, I am sure.

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POS SOFTWARE

Here is how by using real-time inventory management. This is so you can get many such benefits, such as having the optimal amount of stock in your shop.

Say a rep is in your shop or on the phone, and you want to discuss your inventory! They have a good overview of their product overall but what they need to know is your shop situation? The odds are that they like you have much to do, so you need to find the answers immediately. 

It would also be best if you showed that you are in control and know what is happening. If a rep thinks they have a person who does not know what is going on, they can use and will use you to dump their unwanted stock. 

Go to your stock performance report. You will find it here.

Go to register reports>Suppliers>Suppliers sales trend, see the arrow in green

 

Supplier sales trend menu

Now put in them and set a date a year ago.

A report like this pops out.

Supplier sales trend report

Let us go through it.

Marked with a green arrow is a negative stock item. This is a sign that your stock quantities are not wholly right.

Look at the arrow in red, you have 19 of this item now, but you never sell any of them. It is a worry. Ask what happened.

Also, as you go down, you will see an item with a blue arrow. You have none in the shop. See how you have no stock, but you have sold heaps of these items.

Where is this going?

Retailers can get ahead of the competition by using real-time. If they do, it will enhance their efficiency and increase sales.

 

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POS SOFTWARE

 

Find out which of your customers is visiting your shop the most in one second.

Go to register reports> Customers > Top Customers 

Put in say the last two months and Order by Visits and go.


Done

Here are some questions.

Why do these customers appear so often? If you know, you can use this information to get more people to come to your shop.

Identifying your top customers helps you know who to nurture. 

Measuring their value to your business gives you much insight.

If you want to go deeper

You have a lot of options with this report, so there is much more to investigate.

Enjoy

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POS SOFTWARE

Most of us have bills and bills and bills.


 

Recently a company that collects debts from many companies released its findings.  It causes some comments.

The best day from looking at many companies for businesses getting paid was Thursday they claimed. They believe that this is because most people today receive their wages/salary on a Thursday. As they have money on Thursday, they spend it. Although they did not say it, people tend as well to get pensions on Thursday too. But it was interesting is that Sunday had the lowest clearance rate. It made sense if you think about it as about then most people would be budgeting for the coming week. 

So I decided to check using many of my clients' data, and what did I find? 

Well, some clients where all over the place. For example here is the result of four years by one of my clients.

Mon 13.3% Tues 16.4% Wed 8.6% Thu 14.2% Fri 10.3% Sat 37.2%

For this business, Saturday was best. I suspect it because they are in a small centre and people are coming to buy on that day the big weekly family shopping. As they are in the area, they come and pay. Why Tuesday was higher than Wednesday, makes sense as there is not much left on Wednesday. 

What it does show is what I have always said that all businesses are different. This is true even those that do the same things, and each needs to treated differently.

But overall the conclusion does seem correct as a rule, the day for people paying is Thursday. Here is my result from benchmarking 10 different clients over a number of years.

Mon 17.4% Tue 13.4% Wed 13.5% Thu 20.9% Fri 12.8% Sat 15.3% Sun 6.8%

 If you want to know what is your best day to get paid, you can work it out by using Ad Hoc reports.

You will find it here.

Register reports>Customers>Transactions (Excel)

 

So based on this if you are sending people bills, you need to make sure that they get your bills before Thursday. 

 

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POS SOFTWARE

Want to know what is happening now in your shop, in seconds? 

This is a quick and easy way to get the figures.

Go to Register reports.

In the Sales section select 

"Dissection Sales/Profitability for a given period" which is here

Fill out the dates you want, and you get a report that looks like this.

 

With the information you need. It is worthwhile to go through this report in detail as it shows a lot more. For example, how good the barcodes use is in any department, so it can help you to identify problem areas now.

 

 

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