If you run a boutique business, you know that having a great eye for craftsmanship, design, and tailoring isn't the only thing keeping your doors open and your books profitable. Whether you operate a quaint shop featuring shabby chic wares or a fancy storefront with luxury goods, a boutique requires careful curation and cultivation not only of what you sell but of your customers as well. The following are three areas where the right point of sale system can help:
More informed marketing
Every patron that enters your business is a potential sale. Best yet, they're a possible long-term customer. Identifying what products particular clients favor and which they don't used to require the practice of trial and error. However, having a boutique POS system in place can streamline the entire process by keeping you up to date on your stock in the backroom and which trends customers will like.
As a small-business owner, it's safe to say you're marketing and advertising budget is modest. Therefore, you need the most effective and efficient ways to grab the interest of new customers and long-time patrons.
Identifying your best patrons
A boutique POS not only keeps an eye on your inventory, it can also help you identify your best customers by taking note each time they spend money at your store. A reliable system also keeps track of the kinds of products they purchase, so you have a virtual paper trail you can use to stay on top of the items your individual customers enjoy. According to Pattern, knowing what trends your best customers prefer is essential to running a successful boutique. Store owners need to know their patrons' tastes along with what is sell-able before going on a shopping trip to pick future stock.
Unlike the average cash register, a boutique or retail POS collects purchasing data for every sale you make, thereby giving you a better picture of what styles or trinkets to order.
Putting an end to dead stock
There's nothing worse to a boutique than ordering too much and having dead stock that's no longer in demand. According to National Retail Federation figures cited by Entrepreneur, U.S. retailers lose $224 billion because of excess inventory they cannot sell each year.
A boutique POS system helps keep problems such as these from arising by alerting you to when you should reorder certain items. They'll also indicate which products are selling the most and which ones aren't so you can better balance your inventory.