Another opportunity to ramp up holiday sales with the use of your point-of-sale (POS) system is approaching—Valentine’s Day.
According to Statistic Brain Research Institute the average annual Valentine’s Day spending is 13.9 billion dollars in the United States, and the average consumer spending amount is $116.21.
So are you ready to capitalize on one of the major holidays of the year? Here’s how you can utilize your POS system so you can feel the love from your customers this Valentine’s Day.
Have your signage, promotions and any special inventory items in place now or at least before the weekend. This year Valentine’s Day lands on Sunday. That way well-planned consumers will be able to pick up their gifts early, but also be aware that there will be some “better late then never” consumers as well.
Use your POS system to check on your inventory. A good point of sale systems will allow you to review your sales last year so you can accurately stock your shelves with the right products that your customers want to buy.
Work with other stores and show the love to each other. For example, if you’re a florist, team up with a chocolate company and help cross promote. Give each other’s customers a discount. Stock each other’s products. Create packaged gift ideas at several price points. Then keep track of all your sales, inventory and discounts with your POS system. That way next year when you review your data, you’ll be able to make strategic decisions about your next sales campaign. And you’ll be able to see what partnerships you should maintain.
Speaking of data, use your list of emails that you’ve been collecting all year to send promotional incentives to your customers both old and new. For example, why not give a discount to your VIPS? Something like, “Spend $50. Receive $5 off.”
Also, remember good POS systems can keep track of your customers spending habits. Give bigger incentives to those who spend more, or send a specific product idea to those customers who are more likely to buy that product. This is a great way to cater to the needs of your customers and provide more of a personal touch.
Hold a contest. Perhaps the first 100 shoppers to purchase a $100 gift card will receive a $10 gift card on their next purchase. A good POS software can keep track of your numbers and the success of your campaign.
This Valentine’s Day, don’t forget to put your POS system to work. When you see an increase in your sales, you’ll definitely feel the love.
If your POS system doesn’t have features to enable you to capitalize on the holidays in the ways described in this article, consider Bepoz as an alternative that could help you improve your business.