Best Seller or Most ProfiT
Which One is the Most Useful for Merchandising?
This help document will talk you through how to use your Reposs EPoS system to find out your best-selling item in your store which may not necessarily be your most profitable. You will need to scroll along to the Stock section (blue) and select Stock Sales Report > select Date Range (I will be selecting 01/01/18 - 31/05/2018). Once you are happy with the period selected > select Sales. You will notice when you press sales, the report will stay blank > select Sort > Reverse Quantity. The report will stay blank. We need to tell the report that we are finished selecting the options that we want. Select Stock Sales > Use selected options. The report will now run and the data is sorted, showing the highest selling quantity at the top to lowest at the bottom. The picture below is showing my top 10 selling items over this 5-month period.
In this section we will extract which is the most profitable item. We want to leave the date range the same to get a true comparison. Select the Sort option > select Profit (Highest First). The report will stay blank. We need to tell the report we are finished selecting the options we want. Press Stock Sales > Use selected options. The report for the most profitable items is below.
As you can see from the two screen shots, some items remain in my top 10, but some new items have appeared due to these making a better profit compared to the best-selling items. The two litre semi-skimmed milk is my best-selling and most profitable item. My second best-selling item (ES Energy Drink) doesn’t even make it into my top ten most profitable items.
Monitoring and analysing your shops price and sales figures will help you assess which categories might need rejuvenating. Some shop owners will spend 4-5 hours a week on re-merchandising stock and creating displays. This can include changing the layout of your shop or creating promotional bays for items on special offer. You can also use an event calender to promote national or global events that might be important to those who live in your community such as the up and coming Fifa World Cup Football to be held in Russia. Displays are a huge asset to the shop and with only 3 days until the World Cup, what a great opportunity to categorise. You may also want to try moving your best selling items to the back of the store, as this will encourage your customers to walk past other items you maybe promoting. If you introduce a new product you will need to give it time to embed itself. It may initially be a poor-seller but in time could go on to be a best-seller. Your Reposs EPoS system will allow you to monitor what is selling well and what isn’t.