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Point of Sale Systems installed in liquor stores are an important tool to make sure operations runs smooth and seamless. Store managers have a great deal of responsibility to make sure that everything from catalog, inventory, and customer experience are handled flawlessly. As a software provider for numerous liquor stores across the country and talking to several business owners & store managers we have identified some of the most common aspects one should consider for a liquor store inventory management and point of sale system.
These 12 features are generally classified into these functional areas.
When a liquor store adopts a modern point of sale system, one of the challenges they have is how to load the product catalog. In some instances, the store hasn’t tracked products and inventory in the past, moving from a legacy cash register or simply starting a business from a buyout. A key problem in all of the above cases is lack of product tracking through an automated system. Retailcloud’s global catalog with over 50K liquor products allows an user to adopt the system seamlessly and get up and running in no time.
It is not an easy job to track inventory for all the products when you have a busy season and when your focus should be to sell more. Retailcloud inventory management module tracks the products across your business right from issuing purchase orders , receiving into the stores and managing inventory automatically into your location when you sell. Every business owner we have talked to has mentioned that accurate inventory tracking is one of the top 3 priorities they have with a new point of sale system.
With the variety of options within the liquor catalog management, one of the common struggles that liquor store managers have is how should they enter cases and packs into the system. Can I buy by the case and sell individually and get an accurate inventory? The solution to do this effectively is to have different units of measure available allowing for accurate reporting of inventory regardless of how you sell it.
Cash discounting has been one of the most sought out features in recent times. This allows the business owner to manage the payment processing cost more effectively in creative ways. The retailcloud system allows merchants to setup cash discounts, rebates for certain payments types and print on receipts.
Experts who advise liquor store operations says that the best way to have a profitable liquor store is to keep track of your profit goals. To effectively keep track of the profit it is important for a store to have tools to manage the cost of inventory and thus by reporting it back to you across your business. Many cost management systems do not provide accurate cost of good sold data. I have seen systems that update all items in inventory to the current cost price wreaking havoc on managing true cost of goods. A system which effectively calculate the weighted average cost and provide you with effective profit margins and KPI is very important. Retailcloud’s cost management and nGauge analytics platform provides these insights without additional plugins or 3rd party softwares.
Multiple employees are very common in liquor stores and having the tools to manage their sales as well as providing security against theft and abuse of the system . Have unique log ins and password/pin entry is a key necessity. Knowing which employee is ringing up the sale as well as limiting access for non key employees are among the features needed.
As a business owner one of the challenges faced is the level or access which can be provided to different employees and temporary staff. Well defined roles in the system with commonly accessed features and ability to promote or demote certain function is very handy in liquor store multi employee situations. Retailcloud POS provides unlimited users access across 10 different roles.
Age and ID verifications are important when you have mix and match of a variety of products. Automated prompts of Age and ID verification allows the cashiers verify the customers for the ID based on product category or scan on the Code Scanner for programmable beeps.
Ability to access the reports anywhere is one thing which every system should have in the 21st century. The global access to Sales and Inventory reporting anywhere anytime is key for business owners to analyze their business / profit strategies at their own time.
Irrespective of any type of business, one thing retailers across the globe will agree on is that they need ways to engage with their customers. One of the most common ways to do this is offering promotions and loyalty programs. Starting with simple discounts which can be announced through your weekly mailer or reward your most visited customers with loyalty programs can be useful tools to ensure that your customers think of your business first.
Customer engagement strategies varies from time to time. Purchase history and customer engagement drives those strategies. Ability to see the sales history and sales analysis helps businesses to better and more effectively engage with customers. VIP Clubs or Demographic based promotions are likely to improve the customer visits.
Most liquor store staff interacts on POS one way or other. Without additional software or subscription, the business owners can track employee time within the POS which is a very useful way to track the attendance. Attendance can be monitored remotely or overridden by supervisors as needed.
Checkout out retailcloud’s Liquor Store Point of Sale Features list here to learn more
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Our article, published in CIO Magazine November 2015
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According to various research reports, revenue from global retail PointOfSale (POS) terminals is growing at a Compound Annual Growth Rate (CAGR)of 13.37 percent. Such significant escalation indicates the growing acceptance of multichannel sales strategies including ecommerce, online advertising, and online product information, specifications, and comparisons. Despite the proliferation of latest POS technologies, “not every solution provider can effectively convert raw data into realtime actionable analytics,” begins Kevin Colaco, Founder and CEO, retailcloud. “Today’s highly evolved retailers seek an advanced POS solution that not only helps in sales enablement, but builds great customer experiences.”With these new touchpoints multiplying along path to purchase, the retail industry requires a dedicated partner capable of harmonizing the demands of both retailers and consumers. Fulfilling all of these requirements is retailcloud—a company that offers cloud-based POS solutions to enable Small and Medium Business (SMB)retailers increase sales, better managing inventory, and collect valuable data on customers’ shopping habits. “We specialize in blending cuttingedge technology with massive amounts of data to provide superior customer experiences,” says Colaco.
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The company offers three different POS applications that run on desktops, tablets, and smartphones. Apart from advocating flexibility to operate on disparate devices, the company’s applications could be used either on the floor or at the counter. “The presence of a cart with complete clienteling options makes our application absolutely useful,” expresses Colaco. Additionally, the applications are supported by Central Administrative Server (CAS),a powerful browser based portal which stores and consolidates the complete information of a merchant’s enterprise. The information includes data from distinct areas such as inventory, purchasing, consumer habits, and reporting functions. Besides these functionalities, CAS also possesses the ability to manage supply chain and predictive reordering practices of the firm. “The ability of our POS solutions to offer actionable information assists sales associates to improve operations and drive campaigns for low performing products,” explains Colaco.
Download the PDF of this Article
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Besides boosting sales operations, retailcloud leverages its domain expertise to mitigate the impediments faced by midsize businesses. “Most of the regular and medium size traders are bogged down by under performing Units Per Transaction (UPT),” remarks Colaco. retailcloud alleviates the challenge by providing realtime curated data to salespersons. “Our POS solutions provide relevant data at the point of sale and capacitate sales associates with improved margins, refined product mix, and increased UTP,” states Colaco.
Assisting the retail industry in similar ways, the company provides a holistic solution that facilitates an enterprise to launch a webstore with just a few clicks. The online store is subsequently connected to retailcloud’s backend server to garner realtime insights into stock levels. Such consistent support enables retail enterprises to update and manage inventory in a streamlined manner.
The company draws on its broad industry experience and hundreds of successful implementations to recommend retail enterprises with next best actions. Driven by its proficiency, the company has helped several customers thrive in their business environments. For instance, an online store capitalized on the prowess of retailcloud to increase their sales. “Our integrated POS solutions enabled the client to accumulate entire information in one centralized server and achieve real time actionable analytics,” extols Colaco. retailcloud plans to expand its geographical footprint by opening offices in five different continents. In addition, the company seeks to strengthen their global network by building dedicated partnerships in the retail arena. With such determined focus, retailcloud will continue to offer POS solutions that will ultimately results in promoting great customer experiences. “We believe in the power of customer relationship, as it turns browsers into buyers, and buyers into repeat customers,” Colaco ends on a strong note.
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A few months back we started deploying EMV devices and naturally most of our existing customers and new customers prefer to buy the future proof devices and started the transition. Since then one of the most sought features was to allow them to swipe gift cards on EMV terminals. TabPOS application is being updated and Gift Card Swipe feature on the EMV devices will be available for customers starting next week.
On the other hand if you do not use gift cards and would like to use start accepting giftcard in your store during this holiday season please contact support@retailcloud.com or visit here for more details.
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