Thanksgiving is just around the corner, meaning that the Holidays season is officially here. So what can you do to take the most advantage of this time of year?
The answer is to use your greatest money making piece of technology, your point-of-sale system.
If you have a great POS system, it can do a lot of work for you, taking advantage of the season and leverage more sales.
How? Well, read our following tips below, going over what your POS system can do to help you increase your sales during the Holiday season.
One of the first things you will want to do is to look at your sales from last year around this time and begin making a baseline forecast from there. By doing this, you can figure out where your current sales are compared to last year.
Based on the data, you should assume that your holiday sales for this year will be at least 20 percent greater than your holiday sales from last year. Creating an accurate forecast is vital to knowing how much inventory to stock, along with how many staff you need to have over the Holidays.
This basic task is something your POS should be able to do with ease. Your POS system should be able to easily show you what item you sold the most of during the previous year. Analyzing the reports your POS system creates will help you understand what your hot ticket items will be.
Check to see if this year's hot item is the same as last year's hot item.
Your POS system should be able to create a report of last years hours to see what your peak hours of operation are.
If your reports say last year you were busy in early afternoons through 7:00 pm, then you’ll have an idea of the times of day you’re the busiest and will know when to have additional staff. It’s worth testing the extension of business hours to meet the increased demand of those hours during the holiday season.
With a little bit of time and effort, you can properly exceed the revenue you brought in last year. Take the time to review your POS reports, they can be used as a tool and will help you manage the stress of the Holidays
Download our free e-book, and we’ll reveal the pros and cons of buying a POS, give you a list of what features are must-haves, and help you choose a merchant services provider.
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