Flea markets and trade shows are the golden opportunity for your business to unload some of the extra merchandise that would otherwise be collecting dust in your warehouse. This is also the time for you to spread brand awareness, showcase your latest products and services, and expand your customer base. With so much time and effort put into these events, you would want your employees to focus on making the sale and better serving your customers, without worrying about the frustrations of back-end operations. As such, we have come up with 3 solutions for you.
1. Managing Inventory in Real-time
Given the often disorganized and noisy environment at these events, your employees may be unable to manually track the movement of inventory. A lack of access to real-time inventory information may make it difficult for your employees to keep track of sales, monitor consumption rates and to place timely orders.
Adopting an inventory management system allows you to track inventories at your booth, as well as both physical and online retail stores. It also prompts your suppliers whenever your inventory is running low, and enables you and your employees to focus on serving your customers without worrying about whether or not you have enough stock to make the sale.
2. Maximizing Space
Booths at these events are typically small and expensive. Collecting cash payment and recording sales with a traditional POS system seemed to be the most popular method among retailers. However, these bulky systems tend to occupy too much space at your booth.
By adopting newer systems where transactions are done via a tablet or phone, you will be able to display a wider range of your products, reduce task and man hour redundancy.
3. Expanding your Payment Options
A new Bankrate survey found that 2 out of 5 consumers carry less than $20 in cash on a daily basis. If cash remains the only payment method accepted by your business, you may be discouraging potential buyers who may not have enough cash on-hand to make the purchases they wish to buy.
As cashless transactions become increasingly popular,it is important for businesses to introduce card payments to broaden their customer base and provide for greater spending power among their consumers. Card payments are also fast and hassle-free.
By migrating to a cloud based management system, managing your business processes such as inventory management, retail transactions, accounting, and manpower management will be easily accessible at your fingertips. By minimizing the manual processes you business has to deal with, you will be able to better focus on increasing sales and meeting the needs of your customers in the most timely way possible.