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Step By Step Process To Fix Retail Shrinkage

According to a survey shrink or loss of stock related to theft, shoplifting, error, or fraud, is decreasing the bottom line by £50.6 billion across the business. The complete report found that whether the loss is happening from a single employee or organised retail criminals. The shrinkage costs about 1.38% of sales, on average.

It is important to know these issues and implement a strategy to reduce their impact.

Shoplifting

The biggest problem faced by brick and mortar stores is the 5 fingers discount. Shoplifting accounts more than £13 billion pounds damage to UK retailers and just 1 of every 48 are caught, with just 50% of these being gone over to the police.

Concealment is the most used method for robbery among shoplifters, so smaller things are especially vulnerable. Other methods include picking multiple p

Today, POS systems can do a lot more. They can feed data on sales directly to your accountant, track stock levels and even find the best sales staff.

A till has become the crucial part of a business and if that falls short it can send your business into disarray, so it is important to choose a system that truly works for you. Here are some key points to consider when trying to find the right POS for your business.

Consider the Cost

While choosing a till you have to take a look at the amount you are willing to spend. A till paid off-the-shelf may set back you a few thousand pounds while a few EPOS systems can be run off a small device like an iPad with a subscription to a Saas plan.

Managing Customer Expectations

The greatest challenges new businesses face is dealing their customers` expectations with the latest technology.

If people come into pay with a mobile or contactless card as they have been doing with grocery

Important Updates

In case if you are re-opening your business in the month of July, then there`s a good chance you`ve spent some time away from your POS system.

In the past 3 months, we`ve been working on various epos software updates to our systems. It`s advisable to turn on your Epos Direct system and complete these updates when you can, leaving a lot of time before the big day on July 4.

Setting up your Device

How to install updates?

To install updates, just turn your system on. As long as the epos system is connected to the internet, it will constantly get the latest updates. When you first sign in and open your till system, you can receive the latest updates.

What if I have issues in installing updates.

Since you are been away from your epos for quite some time, there are possibilities that your system may stuck. In such

In the restaurant business, it`s the same. There are a few areas where restaurateurs can guarantee they`re on the profitable side of this tested time business equation.

Is it true that if you are opening up, or have you just opened up a new restaurant? Here are three different ways to make your new establishment more profitable:

1. Getting Your Customers Coming Back

Repeat business is the calling card of profit. Obviously, it`s a given that you should always focus on getting new customers in your door, but never forget about the tried and true way to earn a long-lasting, sustainable income: repeat customers. The ideal way to keep your customers returning is to deliver good food and service. Furthermore, you can amp up this process by using a couple of strategies to keep your customers wanting to come back.

One way to do this is by introducing a customer loyalty program, where prizes and points are earned through frequent visits. This is a sure-fire

• ?A retail epos system is a combination of epos software and hardware that enables retailers to ring up customer orders, record payments and perform other operational tasks.
• ?While choosing retail epos system, search for important features such as inventory management, staff management, reporting features like customer management, loyalty programs and inventory tracking.
• ?Also look for the best deals like monthly contracts and open-source epos hardware.

There are many retail epos systems available to small businesses and other designed specifically for retail businesses. Choosing the best epos system for your business requires careful analysis and consideration.

The best retail POS system for you relies upon your business` size, your budget and the features you need in a system and your preferences.

What is a retail epos system?

EPOS

Since the rise of the COVID-19 pandemic constrained hospitality businesses to close their doors to diners, we`ve seen a large number of our restaurants, pubs and cafe customers adjust by transitioning into a delivery and collection model.

But, with orders flying into your restaurant for home delivery or collection across a combination of ordering platforms and direct via telephone – you may miss out orders, particularly when using traditional pen and paper.

Epos Direct, we`ve tuned our customers and thought how we can make your transition to a takeaway model simpler - and we`ve come with a solution.

Our Kitchen Display System software means your restaurant will never lose an order. The moment you input an order on your restaurant POS system, accept order on your tablet, or get an order from the App, it`s automatically sent to your kitchen.

How a