Sales reports, inventory reports, sales reports, and more are all important business reports for any retail store. Through the statistics, you will know the exact and specific business situation of the company and the store to come up with appropriate business strategies such as implementing incentive programs, promotions, etc. organize offline selling points to introduce products,…
However, how to make sales reports, warehouse reports, and synthesize data effectively and accurately is not easy. Having too much product data can cause errors and confusion, leading to serious consequences such as loss, budget deficit of the store. This is exactly why we must use the right sales management report templates for our retail store.
In this article, Sapo Blog will suggest you 6 types of retail business reports that you must pay attention to if you want to manage sales effectively.
Retail store sales report templates you should pay attention to
Inventory report
Inventory control is very important in the operation of a retail store. If the inventory is too small, it will not be able to provide products to customers. If the amount of inventory is too much, it will cause a backlog of business capital, goods if not well preserved are easily damaged and lost.
So, to manage inventory, the following types of reports and inventory reporting methods will help you control inventory effectively. This is also the most important type of business report you should not ignore.
1. Inventory import and export report
The inventory report is the most important and necessary report for shop owners if they want to know the inventory quantity of each item available at the store to have appropriate and timely sales strategies. time.
The inventory report will tell you how much inventory is in the store and the current inventory value.
You will know how much capital is in your inventory to have the right business plan and financial forecast.
For example: If you know how much capital has been used to import goods, how much is imported in the period, it will be easier for you to plan a budget for the next batch of goods.
2. Control the item that is running out of stock
Out of stock is absolutely not allowed in retail. Because out of stock not only means you can't meet the purchasing needs of customers, causing you to lose customers, but this also directly affects sales, makes customers unhappy, stores lack profession. And sadly, when your store is out of stock, customers will easily find other stores to buy, which means you are giving your competitors potential customers. So you have to regularlymanage your inventory through norm reporting.
Under-reporting will let you know which products are running out of stock. And in order to have an accurate norm report, you need to first set the minimum and maximum inventory levels for the products.
Looking at the Under-the-Rate Report will help you identify top-selling items. For example, a product often appears in the report below the norm, you should consider importing more goods in the next time.
Under-the-hood reporting helps you identify your store's best-selling items.
3. Report of best-selling goods
What are the best selling items? Which items bring in the most revenue for your store? The answer will be in the best-selling report.
The best-selling report will show the sales and sales of 1 product for the given time period. Using the best-selling report will help you quickly decide which items to invest in and which items should not be re-ordered.
A good sales report will show you the first and last date you sold the product. If the gap between the first and last dates is large, the product needs to be accelerated.
By looking at the best-selling reports, shop owners and sales staff can look at when sales spike and what products are selling best to make forecasts and have a proactive inventory plan. , reasonable. In addition, if there are many best-selling items in the same group or product category, based on that, you will have more ideas for related items that should be imported for sale.
Retail store sales report
Sales report
Sales is an important determinant of retail success, as it directly affects how much money your store makes. Here are some sales reports that can help you best manage sales:
4. Sales summary report
The sales summary report gives you an overview of the sales for a certain period of time. The sales report will also show COGS, gross profit, profit margin, and taxes so you can get a better idea of your store's profit margins.
The sales summary report provides a more macro view of a store's retail sales. How much money did you make last month or last month? How about this year's sales compared to last year? These numbers provide information about the growth of the store, helping you to devise medium and long-term growth strategies.
In Sapo POS administration, you can view the Sales Report over time by going to the Reports >Sales Report cáoand selecting the time period to track.
Useful sales report templates for retail stores
Here you can filter the time period such as sales by quarter, by month, by week, by day, or customize how long to view the report.
5. Revenue report for each product or product group
Having an overview of the sales situation is essential, however, for a more detailed understanding, you need to dive into the analysis of detailed reports. The sales report by product, or product group, is one such report.
Sales by product reports help you identify top-selling and slow-selling products. If a product is selling well, bringing in more sales and profits, you can order more. On the contrary, slow-selling products need to be discovered early to have timely discharge promotions before becoming obsolete.
Another reason you should regularly monitor sales by product report is that it helps you control your sales from the category level. This is a necessary report if you want to identify consumer trends, customer needs.
Example: You have a shoe store and you notice that a certain brand or type of shoe is popular, or a certain shoe size is popular, selling better. You can use those statistical reports to be able to plan marketing as well as to import goods reasonably, avoid importing outdated goods, goods that are too picky for users, leading to products in inventory.
A simple and effective feature on Sapo is product management by SKU code, helping you to track sales and inventory reports by product variations such as style, color, size, number, etc.
Read more: What is SKU? How to set SKU codes to help manage goods effectively
6. Revenue report by customer or customer group
Not only the sales report by product, you should also be interested in the sales report by customer or customer group.
The revenue report by customer will help you identify who are VIP customers, who are not yet attached to your brand to have appropriate marketing and communication strategies.
With loyal customers, VIP customers, you can offer promotions, customer gratitude to increase loyalty. As for visitors, you can entice them back with advertising campaigns, remarketing or attractive offers.
Notes on making business reports
The process of creating revenue reports, sales management reports will depend on your POS sales management system. But in general, most retail stores have the following general management notes:
- Data synchronization and centralized management: Don't leave your data in many places, it will be difficult to manage. The best way is to choose a POS system with centralized sales and warehouse management features in a single place like Sapo. Continuous data synchronization and centralized management on one platform will help you to have accurate and updated reports in real time.
- Dynamic reporting system: A dynamic reporting system will allow filtering and analyzing business reporting metrics according to your needs. If you want to get the most out of your data, a good reporting system must be able to filter and view information in multiple dimensions.
For example: Instead of just giving general sales reports, the reporting system needs to have options to filter data such as filtering by product type, by customer group, by category, etc.
The reporting system on Sapo is a dynamic reporting system with nearly 30 types of reports from overview to in-depth and can be customized, adding or removing information fields in the report depending on your needs.
- Using cloud computing technology: The POS system based on cloud computing technology will allow you to track newspapers anywhere as long as there is an Internet connection. This is especially useful so that you can operate and make decisions remotely, even when you are not physically present at the store.
If you travel or go on a business trip, you just need to go to the sales management software on your phone to manage and manage the business situation without having to be at the store. Sales management software Sapo POS with a full range of sales reports, inventory reports, revenue reports giving you an overview to details, will be an indispensable tool for stores selling goods. odd. The software has a mobile application to help you manage and sell anytime, anywhere.
Read more: Discover 6 highlights of the brand new Sapo mobile app
If you're still wondering, don't be shy, Sapo offers you a free 7-day trial so you can experience all the useful features available on Sapo and check the effectiveness of your business today!
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