RETAIL TECH, INC. - POINT OF SALE SYSTEM SOLUTIONS POS Equipment RMA Login Who We Are Solutions Manufacturers Latest in Tech Contact Us How to Avert Supply Chain Challenges Using Point of Sale November 2, 2021 Facebook Twitter Email Print Share By now, most U.S. retailers and consumers have felt the effects of the supply chain issues that have plagued much of the world for the last several months. As the holiday shopping season approaches, brands and retailers are working overtime to secure the products they need to sell in order to meet sales goals. Your store may have a leaner product assortment this holiday season, but with some careful planning and data from your point of sale system, you can minimize the impacts on customers. Use POS to Minimize Supply Chain Impacts photo credit: @ranjatm accessed 11/1/21 via CC0 According to Total Retail, there are three strategies that retailers and store managers can use to keep in-demand products in stock this holiday shopping season – and beyond. 1. Understand Demand for Categories and Products Use your point of sale data to identify which products are in demand. If you have multiple locations, break down demand by location. Because shopping habits have shifted so much during the pandemic, you may need to gather additional data. This can be done through customer feedback and digital product testing. Once you understand which products or product categories are in demand, you can prioritize stocking those items. Continually monitor POS product data to make adjustments as the holiday shopping season progresses. 2. Identify Opportunities for Price Elasticity Are there products that will sell at full price, no matter what? Which products must be discounted in order to sell at large-enough volumes? Use your POS data to determine how to maximize sales and profits across products and categories. 3. Offer Omnichannel Convenience Labor shortages and tight shipping capacity will likely add to the difficulties of the 2021 holiday shopping season. Offer – and even incentivize – customers to pick up in store instead of having purchases delivered. Not only will this avoid some of the shipping challenges, but it will also increase foot traffic – and potentially increase sales in the checkout lane or elsewhere. Does your point of sale system provide the data you need for a successful holiday season? If not, Retail Tech is here to help! Contact us today to discuss your needs. Retail Tech carries a wide variety of new and refurbished POS hardware and equipment. We offer installation and staging, retail point of sale system repairs, and more. If you need help choosing a hybrid POS solution, contact our POS systems specialists for help finding the perfect point of sale solution for your retail store, restaurant or other small business. Related News 5 Necessities for Retail Technology The retail environment has been changing for many years, but the pandemic significantly accelerated those changes. But while customer behavior has shifted, many foundational practices and … 6 POS Reports That Make Restaurant Management Easier Running a restaurant is difficult in the best of times. After the past couple of years, restaurant owners and managers are under more pressure than ever. But your point of sale … Toshiba Introduces New Self-Service Kiosk Toshiba recently unveiled an innovative new addition to its lineup of self-service point of sale solutions. Designed for the retail environment, the Pro-X Hybrid Kiosk offers an … STAY IN TOUCH Name Email Facebook LinkedIn Instagram YouTube Twitter 8600 Shelby Court, Suite 200 Chanhassen, MN 55317 Toll Free: 1.877.580.9687 Phone: 952.380.0493 COPYRIGHT © 2021 RETAIL TECH, INC | MINNEAPOLIS WEB DESIGN BY BIZZYWEB | LOG IN