How EPoS Can Help You Reduce Your Surplus Stock

As a retailer do you find using promotions to be over complicated? Well it doesn’t have to be.  With the right EPoS software, promotions can be easy to manage. By setting up promotions retailers can dispose of surplus stock at pre-determined times of the year that would usually not sell through.

As many retailers know, holding too much stock can be detrimental to the success of the business. Holding large volumes of stock that aren’t selling can incur greater costs such as storage fees – storage facilities require workers to categorise, organise and transport items from one place to another. Furthermore, high levels of inventory can lead to higher insurance costs. Additionally retailers can be left with large quantities of stock that are no longer desired by consumers if items become obsolete or customer demands begin to shift.

Because it is crucial that retailers don’t miss out on profitable sales by not stocking enough goods it is important that there is a solution to the negative aspects of holding too much inventory.  This is where sales promotions become an extremely useful tool.

Using EPoS software such as OpSuite enables retailers to set up and easily manage flexible promotions. With this software, promotions are easy to monitor and can be effortlessly adapted to meet ever changing consumer trends.

This state-of-the-art-retail software provides retailers with the tools to build and shape promotions based on real transactional data. The types of promotion available through OpSuite EPoS include buy X get Y promotions, quantity discounts, mix and match and buy one get one free/½ price/% off etc.

Providing customers with the idea they are receiving more for less with sales promotions will stimulate consumer purchasing and aid in offloading stock that would unlikely sell at the full retail price. Our OpSuite EPoS software makes setting up and managing different types of promotion very easy and puts the retailer in complete control over their inventory.

Examples of the types of promotions that can be setup within OpSuite include:-

Buy X Get Y Promotions – In a buy x get y promotion, users can setup what qualifiers are needed to get the promotion.  These qualifiers could be specific items; certain quantities or amounts from a department, supplier or category; any combination of those; or it could even be that the transaction gets to a certain amount.  As the reward, the user could add in a specific item discount or free item if they desired.

Quantity Discounts – Quantity discounts can be as simple as buy 3, get 10% off; or as complex as buy 5 of x and 3 of y, and get £20.00 off.

Mix and Match – A mix and match promotion is one where the qualifier for the promotion is the purchase of a certain quantity or amount of a defined set of items, either within a department, category, supplier, or a manually selected list.  Like other promotion types, this can also be combined with others, providing a very powerful promotion capability.

Buy One Get One – The traditional buy one get one promotion is easy to build in OpSuite and you can extend that to any combination you like – buy two get one, buy one get half off, etc.

Complex Promotions – Complex promotions include all of the above listed promotion types and more – allowing you to get very creative in building exactly the promotion you want to add.

OpSuite’s relationship functionality makes one to one communication between retailers and customers much easier. Within OpSuite, retailers can create communities in which the members are added depending on the type of account they hold. These may include trade, credit, staff and customer accounts.  Further ways of segmenting promotions can be done by demographics and purchase behaviour.

Additionally OpSuite is ideal for retailers in multi store environments as the flexibility gives retailers the option to set up promotions that are either store specific or across a group of stores.

If you have any queries about how an EPoS system such as OpSuite can assist you with running promotions more effectively then please don’t hesitate to get in touch. Freephone us on 0800 138 0050  or fill out our enquiry form.