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December 16, 2020
It’s no secret that maximizing sales is the key to growing your retail business. To achieve your sales goals, look no further than your point of sale (POS). This all-important business tool is much more than a way to simply process transactions. In the article below, you’ll find clever ideas for using your POS to grow retail units per transaction (UPT) and overall revenue.
Expanding the average number of units sold per transaction is a smart way to boost your profits. One way to accomplish this is by training employees to suggest specific add-ons at checkout. Set UPT goals for every staff member, and during promotional periods such as the holidays, run contests to see who can get the highest UPT within a specified timeframe. Offer rewards to the winners and ask them to share tips that help increase UPT with the team, encouraging everyone to implement best practices.
With an innovative point of sale like Exatouch®, you can easily manage employees and pull reports frequently to see who is achieving their goals. Use this information to provide extra motivation to staff members who are just shy of meeting their targets.
Run POS reports to identify inventory items that are frequently purchased together, then educate employees on which stock to suggest for upselling and cross-selling opportunities. In Exatouch, the Item Details module has a field to add extended descriptions for each inventory item. If a customer buys a tie, note suggested shirts, cuff links, and socks to match in the description field for your staff to mention. You can even use the extended description field to include details such as how to care for the item. Sharing helpful information like this while processing a transaction will go a long way in strengthening relationships with your customers.
When you’re working towards increasing UPT and overall sales, you have the opportunity to build and strengthen relationships with your customers—and a smart POS can help you do that more effectively. While increasing revenue is the ultimate goal, that’s achieved by knowing your shoppers and providing them with more value. Exatouch enables you to manage customers, including reviewing their purchase histories, so it’s easier for you to offer more personalized service. Mention their recent purchases, ask how the customer is enjoying them, and suggest coordinating items they can add to today’s purchase. When you have customers at the POS, it’s a prime opportunity to solidify your relationships with them and ensure repeat business.
While placing impulse items next to your point of sale is not a new idea, choosing which items to include can be strategic. Impulse items should inspire urgency, value, and/or excitement. Gift cards are an ideal impulse buy any time of the year, but particularly during the winter holiday season. When customers spend $100, offer them a $10 gift card as a reward. They’ll return to redeem the card, and often buy more than the card’s value during their next trip.
With robust POS reporting capabilities, Exatouch can show you detailed information such as what your average basket size and ticket size are. Average basket size is the average number of items sold in a single purchase. In a retail environment like a convenience store, small market, or pet supply store, adding just one or two more items per basket can make a huge difference in the bottom line. Average ticket size is the amount a typical customer spends when they visit your store. You can nudge this number upwards by offering promotions such as volume discounts. If customers usually buy two shirts when they shop in your store, you may want to offer a discount such as buy two, get the third half off. With Exatouch, you can set up these promotions automatically in your POS to make checkout seamless while padding your profits.
Exatouch enables you to input custom promotions that multiply sales such as buy one, get one (BOGO), set times and days for special offers on certain items, bulk discounts, and more. By setting up offers ahead of time in your POS, you can ensure consistent pricing and speed up the checkout process because team members don’t have to double check which items are on sale. It’s all pre-programmed in the system.
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