Retail jargon buster – part 1

Retail Jargon Buster

Do you know your show-rooming from your drop-shipping or your m-commerce from your social selling?

In the ever-changing world of retail technology, keeping up to date with the jargon in today’s retail sector can be quite a challenge. New retail terms pop up all the time, so to help you keep pace with the changing technology and the terminology, we’ve compiled a list of just some of the latest retail terms.

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Christmas is coming

It’s September already and for most people this signifies that autumn is just around the corner and that the weather is turning a little colder, but if you’re a retailer, you know this means that it’s time to prepare and plan for Christmas.

The Christmas season is the biggest shopping event of the year, and for some retailers, sales during the festive season can account for up to 30 percent of their annual revenue. Of course, all retailers will be working hard to attract customers and generate sales during the biggest holiday shopping period of the year, so you need to work extra hard to compete.

The real key to success is planning ahead and implementing steps to prepare for the upcoming seasonal rush and be ready to maximise the potential. And to help you achieve this, there are several key tasks you should complete long before the Christmas season is upon us.

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How EPoS Can Help You Reduce Your Surplus Stock

As a retailer do you find using promotions to be over complicated? Well it doesn’t have to be.  With the right EPoS software, promotions can be easy to manage. By setting up promotions retailers can dispose of surplus stock at pre-determined times of the year that would usually not sell through.

As many retailers know, holding too much stock can be detrimental to the success of the business. Holding large volumes of stock that aren’t selling can incur greater costs such as storage fees – storage facilities require workers to categorise, organise and transport items from one place to another. Furthermore, high levels of inventory can lead to higher insurance costs. Additionally retailers can be left with large quantities of stock that are no longer desired by consumers if items become obsolete or customer demands begin to shift.

Because it is crucial that retailers don’t miss out on profitable sales by not stocking enough goods it is important that there is a solution to the negative aspects of holding too much inventory.  This is where sales promotions become an extremely useful tool.

OpSuite Promotions and Loyalty

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