How To Maximise Sales In Retail

Sales Metrics

Your sales metrics, or sales KPI’s are a highly powerful tool. They can highlight your strengths, but equally highlight some areas of improvements, which can then be of focus for your business. To understand how to increase your sales, you first need to know your sales.

Staff Opportunities
Metrics can be a very informative tool in accurately evaluating performance of your staff. To have a true understanding of whether you are maximising your sales, you must first look at all the opportunities your staff had, compared to their rate of conversion. A conversion rate can highlight the strong sellers within your store, which can then be met with praise and reward.

Staff Performance
Likewise, if certain staff members are underachieving through their conversion rate, the proper training, assistance and motivation can be provided in order to maximise the potential in your staff and ultimately your sales. To keep track of your individual staff performance, have you considered having individual users on your pos system and measuring sales in this way? A modern EPOS system for example, has the functionality to accurately monitor sales figures and performance.

Store
Evaluating the performance of your store is a key indicator into where your sales are materialising. If you have several stores, making the comparison between your locations can be highly beneficial. Likewise, using certain store performance tools such as heatmapping of customer interest could highlight what’s working well for you, and what needs addressing.

Reporting
Reporting functions can plot your sales information and formulate it into data that can inform your decision making. Have you ever considering reporting your data on a variety of time periods? Monthly, Weekly and Hourly data reporting can give you interesting data that may assist you in exploiting your sales opportunities.