The frequency of customers purchasing products from your store varies throughout the year. On different occasions, they may focus on buying niche items. Ensuingly, the demand for products keeps fluctuating. Shopping trends are dynamic. While these changes occur, keeping up with them is critical to conduct smooth business operations.
Being unaware of seasonal changes in retail can lead to several negative consequences. During peak seasons, the expectations of customers also reach an all-time high. Failing to meet their demands in such times will significantly hamper customer satisfaction. It will also have a negative impact on store credibility.
Staying ahead of the changes has the opposite effect. By knowing what’s coming, what products customers will buy, you can prepare your store to better handle the surge in-crowd. Because of that, you can accrue loyal customers, gather positive feedback, and improve the reputation of your store. And there’s no other better way to manage your store during these times than with a POS system.
In this article, we discuss how you can stay ahead of seasonal changes in retail. Let’s begin.
What are the seasonal changes in retail?
The changes in demand for products your store experiences depend on the geographical region it is located in. Different countries have different festivals. In the United States of America, some notable seasons during which consumer purchase habits significantly change include:
- New Year
- Black Friday
These seasons prompt customers to purchase exclusive products. Running out of stock of items, or a painful shopping experience can result in diminishing sales. So it’s critical to predicting change in product demands. And thereafter, develop a strategy to handle seasonal changes effectively.
Tips for handling seasonal changes
Here are five ways in which you can prepare your store to smoothly manage seasonal changes.
During seasons like thanksgiving, consumers will want to get the best deal on the products they want to buy. Retail stores seize this opportunity by displaying discounts on store windows. In addition to that, go the extra mile by sending out SMS, e-mails, and in-app notifications about seasonal discounts in your store.
With a POS retail solution, announcing discounts is as easy as a few clicks of a button. The application allows you to create custom messages and send them out to multiple customers in bulk.
On any given day, you arrange products belonging to various categories in different sections of your store. During seasons, it is a wise idea to create product bundles. You can do this by curating different products into a single package. For example, you can bundle bath soaps, shampoos, and a loofah as a package.
A POS application shows you insights into what products customers frequently purchase together. Using this information, you can accurately curate bundles that have good chances of selling.
Rearrange items in the store
Whether it’s decorations, costumes, or food items consumers want during various seasons, arranging them in difficult-to-spot areas of the store will frustrate customers. Identify products that customers are highly likely to purchase and arrange them at eye level and towards the front of the store. Easy accessibility can even persuade customers to buy items that they didn’t have on their list in the first place.
Using a Point of Sale software application, you can virtually map where you want to arrange your inventory. The software shows you what spaces in your store are vacant to accommodate products and also lets you rearrange shelves.
Recommend related products
Upselling and cross-selling improve profits during seasonal changes. So when a customer wants to purchase a product, you can suggest buying better versions of it, and associated products with it.
By analyzing the purchase behavior of numerous customers, POS solutions display better and associated products that you can recommend customers to buy.
Implement an effective crowd management strategy
During peak season, you can expect a surge in customer footfalls. And to effectively manage them, you need a strategy. Otherwise, your checkout counters may end up having lengthy, slow-moving queues. Billing customers with speed and precision alleviates this situation.
Mobile POS retail solutions are portable. As they can connect to barcode scanners and card readers, you can ring up products and accept payments anywhere in the store. It helps prevent long checkout queues.
Staying ahead of seasonal changes in retail saves you from running out of stock early and missed sales. If you’re looking to make the best of seasonal changes, then what you need is a POS application. Get SmartPOS – the best retail software system. It ensures smooth retail operations with cutting-edge features, usability, security, and more. Contact us today.