The 6 Retail Data 2020 was an unpredictable year, full of challenges and opportunities. Now that we’re in 2021, it’s time to look back and see your successes, what worked and what didn’t, and what retailers should focus on in the months ahead. Start 2021 off right by reviewing your retail data with these six reports from Lightspeed Retail and Analytics . They’ll provide you with useful insights to make the right decisions about inventory, sales, and labor.
In this article, we will review:
- Why is retail sales data important?
- 6 Important Retail Reports and Why You Should Read Them
The new era of retail has arrived
It’s time to move away from your traditional POS system and set your restaurant up for short- and long-term success.
Why is retail sales data important?Analytics russia telegram data gives you the data you need to make informed decisions. Data helps you measure successes and failures, so when you’re faced with a problem—or an opportunity—you can make the most of it.
2020 set a new standard for businesses. 2021 will be a year of new digital sales tactics and more omnichannel thinking. If you dive into new tactics without being able to measure their impact on your business, you won’t be able to determine exactly what’s giving you the results you want. This means you risk being left behind by competitors who analyze data in detail.
By familiarizing yourself with retail sales reporting, you’ll be able to respond more quickly to changes in your business while planning for the future of retail. By completing these reports, you’ll be able to approach 2021 with confidence; you’ll be able to double down on results, reinvent what’s broken, and know when you’re on the right track.
Important Retail Reports and Why You Should Read Them
1. Sales over time
The Sales Over Time report is a simple we are talking about digital assets way to see how your business performed throughout the year. Your 2020 results likely won’t resemble those of previous years, although you should congratulate yourself if you’ve seen consistent growth compared to 2019’s figures!
Once you have your retail data, you can start making decisions to replicate your successes and address any weaknesses. High sales indicate that you’ve implemented effective anti-COVID measures, such as curbside pickup or virtual shopping appointments.
If your sales were strong during the fax database summer months, think about what you were doing at that time. Can you replicate that success again this year?
How to make this report
- Open Lightspeed Retail and go to your reporting area.
- Start a new sales report over time. Set the period from January 1st to December 31st of the previous year.
- Specify whether you want the data grouped by day, week, or month from the drop-down menu. We recommend analyzing this data by week or month.
- 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.