Today’s leading convenience store operators gain their competitive edge by using technology to optimize their performance on the retail playing field. Particularly among independents and chains, right-sized technology provides the critical competitive edge. Opportunity lies in two interrelated areas of inventory management practice: optimal inventory levels, and a highly productive product mix.
SG II Group, a Pittsburgh-based c-store operator with more than 20 stores, consistently delivers top performance with an average turnover ratio of 16.12. See how SG II Group built the infrastructure they needed to manage both their inventory and their bottom line.
Ask single-store retailers and multi-store operators alike what they consider their biggest business challenges, and the conversation will likely revolve around one topic: meeting customers’ demands while maintaining a healthy bottom line. In order to meet both of these objectives, retailers must anticipate what customers will want and understand the margin for each product they sell.
As the National Association of Convenience Stores (NACS) notes, “Shoppers recognize the c-store channel of trade for its convenient locations, extended hours of operation, one-stop shopping, grab-and-go foodservice, variety of merchandise and fast transactions.” Those expectations are a sea change from the days shoppers considered gas, coffee and super-sized soft drinks satisfactory c-store offerings.
If you could hire the “perfect” employee for your c-store, what would their job description be?
Would they be able to interact with customers, in person and via mobile devices? Remember what individual customers buy and suggest products and promotions that dovetail with their shopping habits? Quickly verify a shopper’s age before ringing up the bottle of wine they’ve set on the counter? Track inventory in ways that minimize out-of-stocks?
That “perfect” employee is available in today’s state-of-the-art POS systems!
Just as high-tech devices have become consumers’ personal “shopping assistants,” yesterday’s fixed-function POS systems have transformed into multi-tasking “sales assistants” that can improve customer satisfaction, mitigate risk, and boost sales and profits.