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8 Tools to Help Grow Your Retail Business

White Paper Published By: Epicor
Published:  Jul 27, 2018
Type:  White Paper
Length:  1 pages

Selecting the right software is an investment of time and money that can pay off with increased customer loyalty, more productive employees, and simpler business management. The Epicor® Eagle N Series® business management solution enables retailers to grow and thrive with powerful analysis tools that tell you ow your business is doing and why.

Here are 8 powerful analysis tools to consider that will help your retail business grow and thrive:

  1. Store vs. Store-For multistore businesses, review how product sales vary from store to store to identify best practices and resolve hidden issues.
  2. Your Top 100 Items- Your top-selling products have a significant impact on your top line. Add related items to you inventory, then build strategies around them.
  3. 3.    The Market Basket- Discover what typically sells and set up pricing, promotions, merchandising, and staff training accordingly to increase wallet share.
  4. 4.    Big Investment, Big Opportunity- Don’t lose revenue as a result of insufficient stock levels. Sales can increase by 4% when you reduce your stock-outs.
  5. 5.    Excess Limits Success- Identify which items are overstocked or moving slowly so you can free up cash and make room for faster-selling items that drive revenue.
  6. 6.    Beware the Hidden Dangers- Watch for top-selling items with dangerously low stock levels. Check your danger list regularly so you don’t miss out on sales.
  7. 7.    A lot Can Happen in a Year- Gain insight by reviewing year-over-year swings in sales volume for your top movers. See what buying patterns emerge so you can take action.
  8. 8.    When Costs Change But Pricing Doesn’t – Avoid eroding margins by tracking your item-cost increases and identifying which products are overdue for a retail price adjustment.

View this infographic to get more insight into these 8 powerful analysis tools that will help grow your retail business.

Tags : 
ecommerce, retail pos, point of sale, epicor eagle, data security, retail inventory

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