How our POS software helps small business retailers avoid expensive out of stocks

Being out of stock can be expensive for a small business retailer. Not only do they lead to lost sales, but they can also damage customer trust and reputation.

Our Tower Systems POS software proactively helps small business retailers avoid out of stocks. Fu=irst though, let’s look at the real costs of being out of stock:

• Lost Sales: The loss of revenue from missed sales. Customers who can’t find the products they’re looking for may simply go elsewhere.
• Customer Dissatisfaction: Out of stocks can lead to frustrated and disappointed customers. This can damage customer loyalty and lead to negative reviews and word-of-mouth.
• Increased Operational Costs: Dealing with out of stocks can be time-consuming and costly. Retailers may need to spend resources on expediting orders, providing refunds, or addressing customer complaints.

By proactively showing retailers out of stocks without having to go look for this can save considerable time. Using the POS software to order based on sales and tracking low in stocks can have a business ready prior to being out of stock.

There are indirect costs of out of stocks for small business retailers:

• Damaged Reputation: Repeated out of stocks can tarnish a retailer’s reputation. Customers may perceive the business as unreliable or poorly managed.
• Missed Marketing Opportunities: Out of stocks can disrupt marketing campaigns and promotional activities. For example, a retailer may be unable to capitalise on seasonal trends or limited-time offers.
• Reduced Customer Lifetime Value: Customers who experience out of stocks may be less likely to make future purchases. This can lead to a decrease in customer lifetime value.

Tower Systems can also work with your suppliers, helping you to provide a sales data feed, which can leverage auto replenishment making the most of just in time inventory management to your benefit as well as to the benefit of your partner supplier.

These are some of the ways we help small business retailers eliminate the costs of out of stocks.

Here at Tower Systems we are focussed on helping local small business retailers thrive. We make smart POS software that helps our independent retailer customers run efficient and valuable retail businesses in-store as well as online.