Monthly Archives: November 2024

Online shops have many benefits for retailers. The rise of e-commerce is not over yet.

How do online shops benefit businesses and consumers? Through online stores, you can reach a wider audience, provide consumers with a more convenient and personalised shopping experience, and strengthen customer loyalty with relevant digital marketing.

1. High Visibility

The advantage of online shops is that they can reach a larger audience and attract potential new customers. High online visibility is beneficial for retailers because thanks to search engines, everyone can benefit from online visibility. Internet users can find products and services from online stores just by surfing the Internet. 

Being visible in the first search results increases awareness while attracting potential new customers. This increased visibility also increases sales.

2. Product Availability

Online

Point of sale (POS) system is a powerful tool that simplifies transaction management and provides valuable insight into business performance. What exactly does a POS system track? Good POS system tracks:

POS system includes many features that are useful to store managers. The listed below are things POS system can track:

1. Sales

POS system simply records every transaction made in-store or online. It records the date, time, and details of each product or service sold. It helps you track sales and stock levels.

POS system like EPOS Direct allows you to accept the payment method your customers choose. At the end of the day, you can also see the total number of transactions for each payment method you accepted.

2. Inventory

The POS system tracks your product inventory and remaining quantities in real

Inventory management is the process of monitoring, controlling and optimising a store's inventory of goods and materials. Inventory management involves planning, tracking and managing all aspects of a company's inventory, from procurement or manufacturing to the shelves to sales to consumers. 

Benefits of Inventory Management

The quality or lack of inventory management directly impacts other aspects of a business, such as Customer satisfaction, sales and financial position.

Proper inventory management therefore has many benefits for retailers. Here are some of the benefits:

1. Save Money and Time

Effective inventory management reduces storage costs and saves you a lot of time. For example, maintaining optimal stock levels helps you avoid the costs associated with stockouts

Stock-keeping units (SKUs) are not just a bunch of random letters in an inventory list; they are the backbone of efficient inventory management. In the busy world of retail and warehousing, SKUs serve as important identifiers that help businesses track, manage, and optimise their inventory. Understanding the nuances of SKUs can help you streamline your operations and improve profitability.

What is a Stock Keeping Unit (SKU)?

SKUs typically consist of a combination of alphanumeric characters that are eight or more characters long. Each string is carefully crafted to contain specific information about the product, such as the manufacturer, brand, style, colour, and size.

The Importance of SKUs in Inventory Management

1. Improve Inventory Accuracy 

SKUs provide a way to accurately track every item in your inventory, regardless of the size of your inventory or the assortment of products.