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EPoS System

An EPoS system can bring many benefits to large and small retailers alike. Here are a couple of ways in which retailers can learn from how WalMart utilise their EPoS System to improve their business. Other ideas on retail technology can be seen at point of sale systems.

An EPoS system can bring many benefits to large and small retailers alike. Here are a couple of ways in which retailers can learn from how WalMart utilise their EPoS System to improve their business. Other ideas on retail technology can be seen at point of sale systems.

Develop better marketing initiatives using an EPoS System

In retail, many marketing initiatives rely on discounts and bundles. Giving away profit is essential at times to move on stagnant stock or possibly to generate more footfall, but it is also very costly. A product marked up by 1.6, then put in the sale at 20% discount, needs twice as many products need to maintain the level of profitability. So, it is important to track which marketing initiatives work. Repeating ineffective promotions just loses money. Using their EPoS technology, big stores closely track the performance of their marketing activity by looking at; a) the rate of take-up for sale items, b) changes in the number of customer purchases and c) average customer spend during the promotion. With the right EPoS System, independents can do the same by using the EPoS Software to report on these key areas. The result will be more successful marketing campaigns and less wasted money on unproductive discounts.

Use your EPoS System to increase margins by negotiating better deals with suppliers

Large stores use their point of sale technology closely to drive better deals with suppliers. Whatever our moral position on big corporate retailers dealing will small suppliers, they undoubtedly achieve huge success in maximising their profits by working their suppliers hard. Reducing the cost of a product can increase profit margins in one of two ways;

  1. maintain the price of the item and deliver more profit from reduced costs.
  2. use the reduced costs to lower prices and increase demand. The way EPoS Software is used to achieve lower costs is through "evidence based supplier negotiations". For example, a supplier's products may be underperforming in a category or may be less profitable compared to others. Using a computer system to give precise evidence provides excellent negotiation material. In summary Wal-Mart is the biggest and most successful retailer in the world. They claim that their success is largely due to EPoS solutions. EPoS is more affordable than ever nowadays, whilst a high quality EPoS System may not suit all independent retailers, they certainly offer some of the benefits that have helped larger stores become more profitable.