Trying to grow your business based on your gut feeling is difficult at best. These six retail reports will help you make the right decisions, backed by data you know and can trust.Year-over-year holiday performance
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How to complete this report:
- Open Lightspeed Retail and navigate to Reports.
- Start a new report on units per qatar telegram data sale. Set the desired time period, i.e., July to August of the previous year.
- For multi-location accounts: From the Store drop-down menu, select the store you want to run the report for, or select All Stores to see aggregated data.
- Click Search to launch the report. Year-over-year holiday performance
Dusty inventory
A dusty inventory weighs you down: if money isn’t coming in, you can’t buy new products and invest in new technology. This retail data lets you know which products to liquidate and which brands you might want to part with in the future. It’s a good idea to run this report to see where customer buying habits may have changed over the year. There’s no point trying to sell old products that customers have shown no interest in. Year-over-year holiday performance
By default, the Dusty Inventory report identifies any inventory that has remained unsold on your shelves for more than 180 days. You can shorten or extend the storage period if you estimate your products have a life therefore, individuals can fully prepare cycle other than six months. If you’ve been taking inventories, you may have already identified these products yourself, but this report will consolidate them all in one place for easy reference.
How to complete this report:
- Open Lightspeed Analytics and navigate to Sales & Inventory > Reports.
- Start a new Dusty Inventory report by clicking the View Report button.
- For multi-location accounts: Under Dimensions > Multi-Location, find the Store dimension. Add it to the report as a criterion and click Run.
Year-over-year holiday performance
If you have historical data going back more than a year, you should complete this report. Typically, the holiday season generates up to 30% of a retailer’s profits, and strong holiday sales can help predict growth in the new year.
The 2020 holiday season may have been a little different for your business than previous years. However, you can still gain valuable insights by reviewing this data.
Take note of the promotions you run and the sales that grab your customers’ attention. Look for your best sales days during the 2020 holidays. Did your sales increase after you announced curbside pickup or started offering free delivery? In addition to applying these lessons to the 2021 holiday season, you can start implementing them throughout the year.
The best employee
By completing this report, you’ll be able to identify your team members who are going above and beyond. Your star employees are leaders in your company. Scheduling your top salespeople during crucial work periods will boost your sales, and celebrating past successes improves overall morale.
In 2021, it’s more important than ever to recognize these successes; just like business owners, retail employees have had to face unknowns, roadblocks, and challenges. Letting employees know you’ve seen their hard work helps boost fax database morale. It also helps determine who you need to reach out to to put some of the retail data you’ve collected into context. These are the employees who are still in contact with customers, and they’ll be able to tell you how customers responded.
This version of the report measures total sales. You can add other criteria in Lightspeed Analytics, such as average cart value or margins, based on the sales goals you’ve set for your team.
Follow these steps to create this custom report:
- Open Lightspeed Analytics and navigate to Sales & Inventory > Reports.
- Start a new recent sales report by clicking the View Report button.
- Set the sale end date filter to sales made within the last full year.
- Under Dimensions > Sales, delete the Completion Date dimension by clicking on it.
- Under Dimensions > Sales Line, find the Employee section; add it as a criterion.
- Click Run to generate the new report. Sort the results by sales line total.Year-over-year holiday performance
- Click Save as New Report to save this custom report so it can be run again in the future.