What are POS reports?
Cloud-based point of sale systems like Oliver track the data on your online store and your POS in real-time, and generate reports to easily understand the data collected. To learn more about Oliver POS reports, click here.
Why are POS reports so important?
Retail reports give you the information you need to make informed decisions. Instead of implementing changes blindly and hoping for improvement, POS reports present you with data you can examine in order to understand your performance, so you can actually know where and how to improve.
Let’s go over some of Oliver POS’ reporting tools, and how you can use them to improve your store’s success.
Oliver POS customer reports not only allow you to track customer information and purchase history, but also allow you to track who your most loyal customers are.
Why is this helpful? By tracking who purchases from you the most, you know which customers to spend most of your time and efforts on. According to this study by Adobe, 41% of American revenue comes from loyal customers. So, targeting these customers with your marketing efforts such as exclusive sales, coupons, loyalty programs, or other more personalized customer service efforts, can go a long way to ensuring their continued loyalty and boosting your sales.
To learn more about how to turn shoppers into loyal customers, read our blog about it.
In your Oliver Hub, under Product Summaries > Item Report, you can see your best selling products, including the number of orders and the sale amount. It’s important to keep track of what products sell the best. Your most popular products are what you’ll need to ensure are restocked at all times so you don’t miss out on sales. Likewise, knowing what products are the most popular will help you when merchandising your store, marketing your business, and upselling.
Oliver POS doesn’t just keep track of your sales, it keeps track of your employees, too. It details the percentage of sales by each employee, the sales amount, the number of orders, as well as the products they sell.
Your employees are the pillars of your business – they’re the ones out on the floor making sales and interacting with your loyal customers. By analyzing our employee reports, you can make better decisions. Scheduling your top employees during peak busy times, for example. Likewise, rewarding your top employees will boost morale and their motivation to keep up the hard work, and perhaps inspire the rest of your employees to keep up.
Oliver POS Sales Insights lay out all of your sales information, including POS sales and online orders, with a helpful graph to display the rise and fall of sales by day. Average sale per day as well as hourly sale, and customer growth help you track your performance. Track the days that you sell the most, and take that information into account when planning for the future. For example, if you find your busiest day is Saturday, then make sure your storefront is fully stocked and your best employees are scheduled so that you’re equipped to make as much profit as possible.
Likewise, on the days or times that you can expect to be the least busy, you can task your employees with important tasks such as taking inventory, restocking, or cleaning.
If you’re running multiple locations, you must compare their performances in order to have a full understanding of your business. With Oliver POS’ Empire Plan, Location reports allow you to examine your performance across all of your stores.
It’s essential to see the differences in your performance across locations and understand why you might be performing better at one location, or why certain days perform better in one location, and other such differences. Getting to the bottom of your performance is the key to unlocking success. Is it because one location is more conveniently located for shoppers? Is it because your star employee is only working at one location? Is it due to the population in one location vs the other? Understand what makes one location more successful and adjust your strategy from there to try to increase success where you’re finding slumps.
Oliver POS’ intuitive reports dashboard helps you understand your store’s performance, and in turn helps you make better decisions when running your business so you can improve. Try our free demo today, and see for yourself how Oliver’s in-depth POS reports can help your business.