Be prepared for key dates and events which will impact your retail business. Plan for big retail calendar events such as Valentine’s Day, Mothering Sunday, Fathers Day, Easter, Halloween, Black Friday, Cyber Monday and Christmas. Here’s how to be prepared..
Retail planning to maximise sales
The TRIMS retail platform from Touchretail offers a number of key features that can assist with retail planning and maximising your sales during event periods.
One of the most important aspects is making sure you have the right stock in the right locations and that it’s ready to sell the minute you open your doors or roll up your shutters. TRIMS offers the Explorer App as standard which gives you a general overview of your stock system, organised in a hierarchical tree system, in which you are able to view an individual product matrix or matrix for a particular category or brand for example.
Balancing stock across your business
Stock Balancing, available as an add-on to your stock system, ensures that the stock is correctly balanced across your business by setting up min and max stock levels. This ensures that the stock is evenly distributed and you haven’t got all of your stock sitting in one location, or, even worse, sat in the warehouse where the customers can’t even see it.
Stock-takes ensure stock accuracy
Regular stock-takes ensure that the business owner is aware of the stock in the business, and can help to assist with identifying and dealing with stock losses and ensuring that the stock is always in the correct locations.
Use modern retail tools and services
The TRIMS platform offers the TRIMSm Mobile Scanner which is an android and IOS application that can even be downloaded to your phone. This offers the ability to perform stock takes and immediately query the stock across your business. Imagine the scenario where you have a customer in front of you, but have none of the particular size that they are looking for. Using TRIMSm you are able to quickly and conveniently query the live stock levels across the business, identifying whether there is any in stock at another location, or in your stockroom.
Forward plan purchasing
Of course, for all retail events, forward planning is a key activity, with new stock being bought months in advance. TRIMS offers a comprehensive suite of reports alongside the ability to create purchase orders. This means that when going on buying trips your buyers are armed with all the necessary information as to what sells well or what doesn’t sell well in your business, as well as of course ensuring that you get the best deals available. When those all important orders have been made, the purchase order app allows you to create orders in TRIMS so you can keep track of orders coming into your business.
Create marketing campaigns around events
One of the key aspects of any business is customers - without customers a business just wouldn’t exist. The TRIMS POS system has a number of features which work alongside the TRIMS platform.
The CRM system allows you to record customer information and track purchases that customers are making, this can lead to more targeted mailing, ensuring that customers who purchase a particular brand are aware of new offerings from that brand when they come into your store.
One of the key retail challenges is keeping customers loyal to your store, making that single sale turn into a repeat customer that will purchase again and again. One way of achieving this is to provide a customer loyalty offering incentivising customers to purchase in the store, running specific loyalty point events offering extra points across the store or on specific items. The TRIMS system even allows you to set up specific customer types, offering the facility to give certain customers discounts instead of points, or offering certain types of customers the chance to earn more points.
Forward plan promotions
TRIMS also offers the ability to run promotions via Product Price Rules, where items can be included in a promotion and offered at a discounted value for a certain period of time. Checkout Price Rules allow you to set up multi-buy offers or percentages / values off when a basket reaches a certain level.
TRIMS offers the chance to see at any point during the day your live sales from each location, and this live sales reporting enables you to see which stores are performing well, identify quickly where you may have issues, and incentivise employees to increase sales or sign up more customers in a particular store.
Give customers more ways to buy
Provide your customer with more options by using Reserved Stock and Customer Orders. The reserved stock system allows you to effectively hold items for customers, which can then be paid for in stages, or an additional deposit is placed and then the item collected at a later stage. The Customer Order module allows customers to place orders for inventory items that are out of stock.
Offer an Omnichannel or Multichannel service
So far we have covered physical bricks and mortar. One of the ways in which TRIMS can extend your reach to customers is by offering connectors to various E-Commerce systems, and a specific set of API methods allowing your web developer to interface directly with TRIMS. Some of the connectors that the TRIMS system offers are Shopify, WooCommerce and Magento (1 & 2), but we also interface with a number of web development companies.
Whenever you sell online the sale needs to be instantly reported to TRIMS, ensuring accurate stock management alongside business critical reports. One of the most important aspects of any sale is ensuring that the correct items are sent to the customer, the disappointment and complaints from the wrong item being sent, or even worse not being available, can damage any retail business’ reputation. TRIMS Pick Station software alerts staff to new items that need picking and verifies that the item picked is the correct item.
Ensure you have the right retail solution for modern retailing
Take advantage of modern retail technology and use it to capitalise on big retail calendar events. The following TRIMS features are mentioned in the above article. To find out more, get in contact. Call 0845 466 0323 or complete the enquiry form on touchretail.co.uk