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A SKU tracks a particular product. But, what they probably won`t know is how it works behind. So, at first, what is a SKU and what it does? What Is a SKU? A SKU, or Stock Keeping Unit, is a unique number used to track a business` inventory internally. SKUs are alphanumeric, and should provide information on the important characteristics of a product — price, color, style, brand, gender, type, and size. This information in the SKUs should also be put in order from important to least important — or in other words, the most needed information to the least.

SKUs also aren`t universal. They`re meant to be unique to your business, and can be customized to tailor to what your customers or vendors ask about your store`s product. How Are SKUs Used? Retailers use SKUs to track their stock and sales, which provide analytical data that are beneficial to have for developing relationship with your vendors and

Whether its e-commerce or brick and mortar store, technology keeps on changing the way customers shop. When it comes to shopping online, customers have expect an experience that is hassle free — and quick — regardless of whether they`re shopping online, an app, or a portable website.

In store, customers have similar expectations. The experience has to be easy to navigate, customer focused, and informative — which can all be done through the proper use of technology like tablets and a mobile epos system. But in order for it to be effective, your staff needs to know how to uses it.

And, that is actually what we`ll discuss about in this post. You will learn why you should organize technology training in retail and you`ll find a few tips on how you to do it right.

The benefits of retail technology training

When implemented correctly, retail technology training can significantly support store efficiency, customer satisfaction, and profits. Here`s a lis

Not everyone looks to get in and out of a store in as little time as possible. Many customers are happy to take as much time as needed, given that you offer a great deal of value in store.

Thus, retailers need to cook innovative ways to get people to stroll into their shops, but actually stay there. After all, the more consumers are in your location, the better the chances that they`ll make a purchase. As per The Wall Street Journal, retailers, for example, Origins, which has put resources into getting customers to linger in store, have seen sales increase by 20% to 40%.

So how can you encourage customers to remain longer in store and potentially increment sales? The following are ideas and tips you could implement.

1. Make room for interesting experiences

Rather than devoting the entire space in your shop for selling items, consider allocating certain areas for experiences. Maybe you can dedicate a specific part of your store for sampling products.

Is your product priced too high too low or just right? Where is your sweet spot? Profit margins are something is not simply something you find once, they`re regularly evolving. Hopefully yours are constantly moving towards improvement. If not, don`t worry. Listed below are 4 tips to increase retailer profit margins.

1. Increase Product Prices

The best way to increase your overall profit margin is to increase your product prices. We understand that some retailers never prefer to do that as they feel they might loose customers. It really just relies upon the products, margins, and customers. Externally, it also relies upon your competitor’s prices, and even the economy. Once in a while you just need to get creative to make products more appealing by using and even psychological tactics.

2. Avoid Markdowns

Nothing kills a profit like a markdown. Avoid them by managing with your inventory better. Use your epos system to always k

Omni-channel Integration

With more number of customer shopping online you`ll require a single real time view of the stock availability and sales performance all over your business in avoiding the lost sales and also to deliver a consistent, providing high quality shopping experience.

Central Management Stock Control of Stock

If you need a flexible, integrated approach, connecting stores, web and other channels in one seamless epos system then have a look at Epos Direct. There`s no chance of any duplication or manual reconciliation. Central management control over stock levels and real time visibility of trading performance which helps to improve buying decisions and make sure stock allocations and replenishments of stock are accurate every time.

You can easily allocate stock to web or catalogue sale for order fulfillment

The objective of integration is to use same datafiles for multiple systems. Your POS is helping a customer`s purchase and record individual sales. These sales combine to form your complete day by day sales. For the most part, these daily sales are then "dropped" into your accounting software. Your accounting software probably won`t separate sales on a value-based level, yet they will have ledger entries for a particular week`s sales or day’s sales.

There are many key POS software features to think about while evaluating systems, but many tend to gloss overt he benefit of a strong integration with your accounting system. It`s important to think about whether the POS system you are looking for can integrate with your present system, or if you may need t