Before the holiday season begins each year, small business owners prepare to ramp up their operations in anticipation of an increase in sales volume. Conducting thorough reviews of past holiday successes, as well as performing market research on each upcoming season’s anticipated consumer trends, are all part of standard holiday planning. But have you ever done a technology review to ensure that your POS solution can perform to both your expectations and the expectations of customers?
Taking the time to see if your holiday sales POS system passes muster is critical for aligning business goals with holiday success metrics. As consumer expectations change, so must the technology you rely on. Proactively introducing the most supportive and innovative POS technologies in time for the holidays will present you with new ways to engage holiday customers.
Data Forms the Foundation of Everything in Your Business
The most fundamental factor in maximizing potential sales during the holidays and beyond is the ability to harness and analyze data. The information stored in a cutting-edge POS platform can be utilized in a number of ways to augment your business, including:
- Building a predictive picture of trending products and services.
- Integrating sales and inventory data to determine product health or attractive options for specials.
- Creating personalized holiday specials that can be targeted to the individual customer.
- Determining each staff member’s sales conversion rate so that your top employees are on the floor during peak shopping hours.
These are only a few examples of how properly managed and analyzed data can yield significant bumps in sales. While data analytics can be especially helpful during the holiday shopping season, they will continuously work behind the scenes throughout the year to help you to create a perfect offering of products and services that customers cannot resist.
Proactive Inventory Management Creates the Best Product Lineup
Getting the most out of your POS data is critical to building a successful holiday retail strategy. Your data will yield important clues about what the ideal mix of products should look like to meet the expectations of your customers.
The advancements in POS technology now provide you with the same powerful reporting and monitoring functions that your larger competitors find indispensable. Having these features in your toolbox will allow you to automate much of your inventory monitoring through the ability to generate on-demand reporting and alert you when specific product thresholds, such as time on the shelf, are exceeded.
When predictive inventory analysis is tied to inventory and customer sales histories, you will be able to more effectively choose your product lineup.
Cloud-Based POS Systems Expand the Reach of Your Brand
Perhaps the most exciting element surrounding the seamless integration of innovative POS technology and advanced data mining is the number of new opportunities it presents. Branching your business outward into cloud-based pursuits, such as multichannel and online ordering, will enhance your ability to both attract new customers and entice your current customers to spend more of their holiday shopping time with you.
Offering online shopping options, such as click-and-collect or direct shipping, presents safe and around-the-clock access to your brand. Plus, it provides an additional stream of data that enters your POS system from online orders, which can then be collected and analyzed with all of your other data. Online shopping data provides a way for you to dig deeper into the mind of the customer, allowing you to review a new layer of statistics, such as items abandoned in carts or items’ popularity among the different shopping channels.
Heading into the holidays with the best tools in place allows you to harness the power of a multichannel strategy. Whether you’re a retailer, restaurant owner, or food truck operator, you can create options to sell your products, eGifts, and digital gift cards while actually lowering the amount of work and stress placed on you and your staff. And more importantly, you will reduce the stress of holiday shopping on your customers, making it more likely that they will return to you year-round.
What Is the Perfect Holiday Sales POS System for Your Business?
The holiday season is a make-or-break time of year for all businesses. The customers you draw to your brand during this time of the year can easily become lifetime customers that will make purchases for years to come. However, you need to develop in-depth knowledge of the consumers your target market consists of and what it is they’re looking for. This requires a data-driven POS platform that provides the advanced technological foundation for a successful holiday strategy.
The blend of POS technology expertise and business experience that talech consultants bring to the table will provide you with the support you need to implement a modern POS system for your holiday sales and beyond. We invest our time to learn about your holiday season goals and develop a POS solution that will serve you for this holiday and many more to come.
Want to learn more about POS for the holiday season?