7 Point of Sale Reports to Grow Your Retail Business

If you’re like most business owners, you’re all the time looking for ways to grow your retail business. Increasing sales and profits are always at the top of your mind, and one way to do that is by using a point of sales report to track your performance and find areas where you can improve. This blog post will cover seven types of reports that can help you do just that. So read on to learn more about using point of sale data to grow your retail business!

A point of sales report, or POS report, is a valuable tool for retail businesses. These reports provide detailed information about sales transactions, inventory levels, and customer behavior. This information can be used to make informed decisions about pricing, promotions, and product mix. POS reports can also track trends over time and identify opportunities for improvement. When used effectively, point of sales report can help businesses optimize their operations and improve their bottom line.

Running a retail business is hard work. There are so many things to maintain track of – inventory, employee hours, sales data, the list goes on and on. As a retail business owner, you understand that keeping track of your sales is essential to know how well your business is doing. But POS System is provide the specific reports you should be looking at to get the most accurate picture? Here are seven point-of-sale reports that will help you grow your retail business.

1) Sales Reports:

Analyze and Win Bigger Sales Revenues with these retail point of sales report

The first type of Point of Sale report is the sales report. These sales reports will show you your total sales for a given period of time, as well as your average sale amount. This information is essential because it can help you track your sales goals and see if you are meeting them.

The following are the sales KPIs you should be tracking with your sales reports analytics:

• Total sales: An in-depth look at purchases and returns.
• Daily sales: Each day’s purchases and returns are noted.
• Takeout sales: Combine daily sales and delivery to see how much money you made from off-site orders.
• Discounts and voids: Information regarding the number of discounts and voids that occurred during service, the team members who were accountable for them, the management who approved them, and the reasons behind them.

How Sales reports Can Assist You in Making Business Decisions

• To analyze best-selling products, busier weekdays, best-performing stores, etc.
• To inform product placements, plan profit margins, schedule store timings, etc.
• Make important staffing decisions depending on which worker makes the most mistakes or gives out too many discounts.

2) Inventory Management Reports:

Make better business decisions around stock management with Inventory POS Reports

The second type of Point of Sales report is the Inventory management report. In short, these Inventory management reports will show you what items are in stock and how many of each item you have on hand with the help of Inventory management software. This information is essential because it can help you track your inventory levels and make sure you don’t run out of popular items.

If you want to stay in the retail business, you need to keep your product assortments new and relevant. Therefore, keep a close eye on your inventory, and you can do so with the Inventory management reports below:

• In-stock reports: How many of each inventory item you have in stock are listed on the in-stock list.
• Reports on Stock-Outs: This report highlights menu item inventory counts and each item’s “low inventory” warning setting.
• Cost of goods sold: The difference between what items cost your retail store and what they sell for is the Cost of goods sold.
• Slow & Fast-Moving Reports: Get the exact data of your hot and low selling items with some clicks.

Inventory management reports can reveal a wealth of information about your retail business, such as:

• Knowing when to order new supplies, you don’t have to tell consumers you’ve run out of their favorite item. Your inventory list might also help you avoid ordering too many or too few supplies.

3) Customer Engagement Reports:

Stop guessing what your customers want. See it live with the Customer Reports Module

The third type of Point of Sales report is the customer retail report. Customer-oriented retail reports will show you information about your customers, such as their contact information and purchase history. This information is essential because it can help you build relationships with your customers and better understand their needs.

Keep track of this data to understand your customers better:

• Guest Purchase history: Data about what your customers purchased on each visit, including time of visit, a staff member who served them, items ordered, Cost of items, and gratuity.
• Loyalty program engagement: Get information about your loyalty program, such as how many points customers have earned, what incentives they’ve redeemed, and how much they’ve spent. Etc.

Use these powerful insights of consumers to:

• Send them marketing offers that they won’t be able to refuse. For example, give a freebie to a consumer who hasn’t bought from you in a while.
• Improve the customer experience. Learn more about customers and their favorite items to surprise customers with loyal takeout.

4) Staff Productivity Reports:

Enhance Employee Management with these Point of Sales Reports

The fourth type of POS reports is the employee report. These employee-specific retail reports will give you information about your employees, such as their hours worked and sales totals. This information is essential because it can help you track your employees’ productivity and see if they are meeting their goals.

To keep the staffing under control, keep an eye on these POS reporting benchmarks:

• Employee shifts: See how long team members worked, when they logged in and out, how many shifts they worked, and how much they sold.
• No sales: A report that shows how often the cash drawer is opened using the “no sale” feature.
• Employee Performance Reports: You can check employee-wise sales data to set performance benchmarks and analyze the most promising employees.

How these Retail POS Reports Help You Manage Staffing

• Determining which employees generate the most revenue helps you book them for more shifts and give them raises to keep them.
• You can also assign more staff on busier days and make sales benchmarks transparent for the staff

5) Supplier Management Reports:

Improve supplier selection with supplier management reports module

The fifth type of Point of Sales report is the supplier report. It will show you information about your suppliers, such as their contact information and delivery schedule. This information is essential because it can help you track your supplier relationships and make sure you are getting the products you need promptly.

Keep a close eye on these POS reporting benchmarks to maintain control over your products by supplier.

• Supplier: By clicking on the supplier’s name, get a list of all the SKUs assigned to the supplier.
• # Units: the volume of units you have on hand for that vendor.
• # SKUs: the number of SKUs assigned to that individual supplier.
• Total Cost: The Cost of the units you have on hand from that supplier, i.e., the total quantity on hand (QOH) times the supplier’s cost.

How These POS Reports Help You Make Business Decisions

• Payment: See invoices from Suppliers and manage payment
• Delivery: Manage delivery status with the help of a bar code scanner system
• Average EM based on Sales: Average Estimated Margin (EM) for all the products that have positive QOH.
• Restocks EM % based on Sales: Average Estimated Margin for all products with positive QOH and positive EM.

6) Finance Reports:

Manage cash flow and balance sheet seamlessly with finance & accounting reports

The sixth type of Point of Sales report is the financial report. The financial report will show you information about your finances, such as your profit and loss statements. This information is vital because it can help you track your business’s financial health and make sure you make money. You can easily leverage crucial financial reports with a POS and Accounting Integration (QuickBooks, Tally, etc.)

To retain control over your finance, watch these POS reporting benchmarks.

• General ledger: Get the vital financial documents, including trial balance, balance sheet, and profit and loss statement.
• Chart of accounts: Determine the level of detail of the information tracked and the reports generated by the accounting system.
• The trial balance: See the balances of each account before and after any adjustments.
• Balance sheet: Create reports on cash flow and budgets and conduct other financial analyses of the business’s financial condition.

How These POS Reports Help You Make Business Decisions

• The Accounts Payable module tracks money due to vendors, discounts, and payment terms for all invoices.
•  An integrated POS module avoids typing POS transactions by hand into the accounting software, thus reducing errors.

7) Marketing & Promotions Reports:

Get the most out of your merchandise and promotions with marketing POS reports.

The seventh and final type of Point of Sale report is the marketing report. This marketing report will show you information about your marketing efforts, such as increasing in-store traffic, engagement, and sales owing to promotions. This information is essential because it can help you track your marketing progress and see if your efforts are paying off.

To Track Your Marketing Effort Use These Retail Point of Sales Reports:

• Promotions Analysis: While you roll out different in-store promotions, the report analyses the sales and engagement owing to a specific promotional activity.
• Loyalty Ledger: This report gives you a deeper look at the customer loyalty ratio and the number of repeat sales. You can compare it with the loyalty promotion activities you have employed for your business.

How the Marketing Reports Help You Boost Sales

• Digital countertop unit: Consider a countertop unit that highlights fast-moving consumables like small items, beauty items, etc.
• Loyalty cards: Influence customers with loyalty cards to continue visiting that particular location for purchases. Similarly, offering a free gift or a trial sample at the register for signing up for a loyalty card encourages signups.

In addition to the seven types of Point of Sale reports listed above, Ari Retail Software also offers a few additional reports that can be helpful for your business. These reports include:

• A report showing all returns and exchanges for a given period of time
• Furthermore, it offers a report showing all discounts and coupons used for a given period of time
• After that, you can get a report showing all gift cards sold for a given period of time

Point Sales reports are an important tool for any retail business. They can help you track your sales, inventory, customers, employees, suppliers, finances, and marketing efforts. Ari Retail Point of Sale offers a wide variety of Point of Sale reports to help you grow your business. If you have any questions about these reports or need help getting started, our team is always here to help!