|| Sep 13, 2018
|| White Paper
|| 1 pages
8 Tools to Help Grow Your Retail Business
White Paper Published By: Epicor
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:
- Store vs. Store-For multistore businesses, review how product sales vary from store to store to identify best practices and resolve hidden issues.
- 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.
- The Market Basket- Discover what typically sells and set up pricing, promotions, merchandising, and staff training accordingly to increase wallet share.
- 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.
- 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.
- 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.
- 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.
- 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.
Download this tip sheet to get more insight into these 8 powerful analysis tools that will help grow your retail business.