When a store sets its budget many different aspects are taken into account. You look at both last years sales budget and actual, and then you try and forecast the increase you would like to see for the coming year. Based on that information, you take into account inventory needed to support those projected sales and the payroll needed to execute the daily tasks. By adding in historical data from a retail people counter, you can more accurately pinpoint how the current year should flow.
Just as looking at last year’s sales information gives you a rough guide to follow when preparing for this year’s sales, a retail people counter provides a loose guideline for how to effectively staff your stores. You might be able to see more clearly where you lost out on potential sales the year before. By comparing sales data, with the retail people counter report, and your allocated payroll, you have a much clearer picture of what was working in the last year, and what did not.
Now that you have a better picture, you can more effectively plan out your yearly budgets. You can look for those lost sales and better staff based on the customer counts. You can look to market sales and advertisement around slow times to help drive customer traffic into the stores, maximizing your advertising dollars. You can make sure when you do run ads, you can staff accordingly to support the customer needs, based on data from the retail people counter, as well as maintaining proper stock and inventory levels on the sales floor. Nothing looses a sale faster than the product being kept in a stock room because you do not have enough employees working to go back and get the merchandise out.
When a store sets its budget many different aspects are taken into account. You look at both last years sales budget and actual, and then you try and forecast the increase you would like to see for the coming year. Based on that information, you take into account inventory needed to support those projected sales and the payroll needed to execute the daily tasks. By adding in historical data from a retail people counter, you can more accurately pinpoint how the current year should flow.
Just as looking at last year’s sales information gives you a rough guide to follow when preparing for this year’s sales, a retail people counter provides a loose guideline for how to effectively staff your stores. You might be able to see more clearly where you lost out on potential sales the year before. By comparing sales data, with the retail people counter report, and your allocated payroll, you have a much clearer picture of what was working in the last year, and what did not.
Now that you have a better picture, you can more effectively plan out your yearly budgets. You can look for those lost sales and better staff based on the customer counts. You can look to market sales and advertisement around slow times to help drive customer traffic into the stores, maximizing your advertising dollars. You can make sure when you do run ads, you can staff accordingly to support the customer needs, based on data from the retail people counter, as well as maintaining proper stock and inventory levels on the sales floor. Nothing looses a sale faster than the product being kept in a stock room because you do not have enough employees working to go back and get the merchandise out.
