The approach of Valentine’s Day provides retail with more than just an increased number of smiles and loving glances in their stores. It is an opportunity to attract more customers to walk through your doors, and a way to end the holiday hangover that many retailers face in the post-Christmas shopping months. It is important, though, to ensure that you are ready for this short-lived shopping season to reduce your stress while maximizing revenues.
Facing the sweetest day of the year does not need to bring you angst. While the products and services you offer may change slightly to accommodate the romantic nature of the season, the overall steps you take in preparing for this season aren’t all that different from any other holiday. In fact, when you are equipped with a capable POS platform, you will find yourself breezing through the holiday and enjoying the happiness your customers are feeling.
Utilizing Data to Accurately Predict Seasonal Shopping Trends
As extraordinary and heart-filled as Valentine’s Day shopping is, now is not the time to use your heart when determining special product offerings and your sales specials. The importance data plays in building specials for any holiday sales event cannot be overemphasized. You must use all of the information you have on hand to make sound decisions that ensure you aren’t left with empty seats or an overwhelming amount of unsold product.
Obtaining clean data is easy when you are relying on a modern POS software platform. A majority of POS solutions released in the past couple of years will provide next-gen data management and analysis functionalities. Also, many of today’s POS solutions will present you with cloud storage options. These allow you to easily access and analyze your business data from anywhere via a provided POS app.
Equipping yourself with data that precisely illustrates the historical and presently trending desires of your customers presents you with a couple of important advantages:
- First, you reduce the risk of any sales of specials you put out there for the holiday, thanks to knowing with a high degree of accuracy the type and amount of product you need. Those in services industries will be able to ensure that staffing and inventory is up to the task of what is being offered.
- A second (and perhaps arguably the more important of these two points) is that you can present a precisely designed experience for each customer that engages with you. Retailers will have past transaction records to provide the items each customer is most likely to purchase. Luxury experience owners, such as spa businesses, can easily design personalized couples experiences to build the romance and intrigue of the holiday.
Developing an Inventory Strategy to Minimize Risk While Building Customer Relations
Innovative POS technology is particularly helpful when it comes to managing holiday inventory. No one wants to order 500 teddy bears and chocolate-filled hearts, only to discover that what your customers really wanted was the latest line of Versace perfumes and colognes. Knowing your customers will only go so far, since like Christmas you are likely to attract a clientele that rarely or have never set foot in your store.
Effectively managing inventory is best addressed by implementing highly developed POS technology. What does this look like for an anticipated holiday sales rush? Possessing the ability to tag and apply discounts to select SKUs automatically is a huge time saver. Not only do you not have to manually change prices back and forth, but using metrics set in your POS reporting, your system can easily tackle much of this busy work.
This level of inventory management is not exclusive to retailers. Liquor and grocery store owners can develop a strategy for Valentine’s Day gift baskets and promotional items. Restaurateurs can utilize customer data to devise special menu offerings, meal and wine pairings, or introduce concisely orchestrated upcharge items by using their POS system as a bundling tool. The use of advanced POS technology lets any business mitigate the risks of holiday inventory proactively, allowing you to focus on making this day special for your clients.
Utilizing Advanced Scheduling to Smooth the Holiday Appointment Rush
While appointment management is not necessarily applicable to all retailers, those business types that depend on appointments and reservations will find such functionalities a critical component of an advanced POS solution. Spas, restaurants, stylists, and even tattoo parlors are particularly interested in keeping schedules and appointments organized and in plain view of all parties.
This is especially important during holiday seasons, when demand and stress is high. Staff must know when they are needed so they can maintain a balance between work and life schedules, and customers are all in search of the perfect experience at the perfect time. Using a POS solution that can seamlessly integrate staff schedules and appointment books gives you an edge in keeping customers happy while not driving staff to the brink of exhaustion.
One key feature that you should develop a heightened awareness around is the gift or surprise booking. Often times, especially around Valentine’s Day, partners and spouses will book surprise couples massages, holiday dinners, or spa experiences unbeknownst to the object of their affections. By utilizing a POS services feature that allows this type of reservation to easily be placed, the discretion the customer desires is readily pleasant and you can all enjoy the splendor of a pleasantly surprised loved one.
Managing Valentine’s Day Sales Requires an Experienced Eye
A strong technical foundation will allow you to accurately, easily, and fully manage all of your anticipated holiday nuances. While you may feel well served by your existing POS platform, chances are there are many features and functionalities that you are missing that could potentially make a positive impact on managing holidays. Some important POS features—such as automatically tagging products or the application of discounts to SKUs—are not available in many POS systems.
Developing a technical strategy that addresses your holiday business needs while improving your business operations during non-holiday times requires a detailed analysis of your operation as a whole. Inviting an expert in POS technology that brings along the wisdom and business know-how is a step towards achieving a long-lasting POS success story in your business. You deserve the best POS strategy to help make your life easier, so why wait? Make us your Valentine.
When you connect with talech, you gain more than a POS solution provider. When working with businesses we take full advantage of our knowledge in your industry to match you with a POS solution that can tackle all of your challenges. We learn the details around where you are today and where you would like to be tomorrow so that the solution we recommend gives you the greatest possible ROI. Contact us today to sign up for a free demo and find out how we can revolutionize how your restaurant operates.