Insights for Surviving (and Maximizing) the Holiday Shopping Season

'Tis the Season for Earnings

For the first time ever, 2019's holiday buying season is predicted to exceed $1 trillion in revenue. If you have ever managed during Black Friday, Cyber Monday, Thanksgiving, or Christmas, you very well understand the chaos and challenges which begin to surface this time of year.


Luckily, there are a few useful tools available to business operators and their employees to help them navigate a hectic -- yet rewarding -- holiday shopping season. In the next article, a Revel Systems worker with longstanding ties to hospitality management shares some insights from his time at the vacation grind, together with learnings from the product side of this equation.

See our Products:

  1. Shopify point of sale
  2. woocommerce point of sale
  3. commercetools point of sale
  4. MSI multi source inventory management system
  5. magento point of sale
  6. bigcommerce point of sale
  7. bigcommerce automation
  8. backorder management
  9. shopify automation app

Jay Gillespie, Revel's senior product manager, has over twenty years of immersive experience working with point of sale (POS). During his professional career, he has worked alongside some of the biggest restaurant and hotel management companies in the southeast in regions which range from consulting, to establishing new restaurants, as well as creating his own POS system.

Gillespie provides an unparalleled scope into restaurant and retail challenges during the holidays as he breaks down several important strategies to keep you from missing out on a massive stream of revenue this year.

Get a grip on your stock

Using a tight control over your stock as the panic of these vacations sets in will save you from resources and money gone to waste. Drill down to your year-over-year earnings by using data insights so that you can objectively estimate labour and inventory requirements. Using data as opposed to guesswork will save you both time and money.

"It's vital to have the ability to deal with the surges and quantity [of the vacations ] without needing to over-staff or over-prepare," says Gillespie. "It's an issue of making certain you have the ideal technology and systems in place that will provide you the ideal historical data."

Get ahead of vacation labor challenges

Labor controls are particularly tough as companies scramble to hire the ideal seasonal or part-time workers that could pull off the workload requirement of the holiday rush. Do not get swamped and take early action by buckling down on an on-boarding game program.

"You do not have two weeks to train workers anymore," says Gillespie. "With an easy-to-use interface, particularly on a piece of hardware which everyone is familiar with, permits you to provide this system to a person and have it up and running within a day." Use an intuitive system which cuts down on training fees and time and empowers your employees to quickly pick it up and hit the floor running. Time is money, especially during the most lucrative time of the year.

The ideal POS platform will allow you and your employees to get rid of unnecessary, user-centric hiccups, while also developing a lasting and positive client experience.

Get with the program

Nine decades back, Gillespie was brought in to resolve the pub at Starwood Hotels' St. Regis property. As he reflects on his time , he stresses the importance of being up-to-date and integrating a system which could support the time and demands of the market.

At the moment,"satellite pubs" (big, mobile carts with clunky POS systems on them) were in use before mobile order takers came to the marketplace. "From the time you purchase a $17 vodka soda you may need to wait 20 minutes to get it due to the technology," Gillespie explains, highlighting the hurdles he faced handling these devices. "[Servers] could not fulfill your order in a hurried fashion. Using a POS system that might have supported the need for the holiday season could have been a game changer."

If you are a business owner, ensure you deploy the ideal technology and benefit from these innovations available through your POS. Capitalizing on the available resources can help minimize risks and maximize profits during the busiest season of the year.

Related posts:

https://www.connectpos.com/best-pos-hardware/

https://www.connectpos.com/best-b2b-marketing-strategies/

https://www.connectpos.com/top-5-best-cash-drawers-in-2021/

https://www.connectpos.com/top-free-bigcommerce-apps-for-online-stores/

https://www.connectpos.com/top-free-magento-extensions-for-users/

https://www.connectpos.com/best-retail-sales-tips/

Comments

Post a Comment

Popular posts from this blog

Payments, Payment Rails and Blockchains and the Metaverse

  Source: https://www.matthewball.vc/all/metaversepayments The Metaverse was positioned throughout this primer as both a successor state for the mobile internet and a platform that allows humans to enjoy leisure, work, and exist in the larger world.   A thriving economy is key to the success of this vision.   And we know what makes for a thriving economy: competition and a constant cycle of disruption/displacement, a large number of profitable enterprises (especially small-to-medium businesses), capital mobility, strong consumer spending. I have discussed the technologies that contribute to this result in Section VI .   But, I neglected to mention one of the most crucial interchange tools and standards: payments rails and related services.   These technologies allow and manage money flow throughout the economy. They also define the "cost of doing business", for all workers and consumers.   They're already a problem battleground for hegemony within the emerging Metaverse.
Read more

Here are 9 reasons why real estate agents fail

  Here are 9 reasons why real estate agents fail One of the most shocking statistics in the real-estate industry is the fact that between 85% and 90% of agents quit within five years.   This means that if you are in a prelicensing group of 10, nine out of the 10 will no longer be in the same industry five years from now.   We have examined the nine most common reasons real estate agents fail and how to avoid them. 1.   Failure to account for upfront expenses Agents in real estate are independent contractors and not salaried employees.   Even if you are employed by a brokerage, this means that you are the sole owner of your business.   This means that, while some brokerages offer perks such as advertising or marketing, most of your expenses must be paid for.   A typical real estate agent will spend an average  $11,500  per year on business expenses. Top performers often spend more.   This includes everything, from leads to insurance, advertising and marketing costs to travel. Real estat
Read more

HOW TO INTEGRATE YOUR POS SYSTEM WITH A WEBSITE

Ecommerce and POS integration was not something many mom and pop retailers gave much thought about 10 or 15 years back. Today, it's something all retail store owners need to take into consideration if they want to bring their business to the next level. If you're strictly a brick and mortar store, make this year the year you begin your online store. With worldwide ecommerce sales expected to reach more than $4 trillion by 2020, there's no reason why some of that money can not be yours. Especially when technology has made it simpler and less expensive than ever to have an online presence and webstore to support your physical one. Ecommerce and POS integration can look like a lot of technical nonsense that leaves retailers like you scratching your head in confusion, but it's not. Simply put, an integration is a term used to describe the way two different businesses locate a shared communication path and combine their respective technologies to create a more comprehensiv
Read more