Operating a music store can be a challenge if you don’t have the right tools to help you manage your inventory.
“Inventory control is vital to the survival of your business,” says Handshake. “If you don’t have a good handle on your inventory you’ll never have a true account for how your business is doing.”
Leveraging the most effective—yet economical—inventory management solutions possible will help you reduce human error, save time, and increase sales.
Read on to see how you can make sure your inventory is accurate and how it will benefit your music store…
Invest in a Cloud-based POS System
Having a large inventory of musical instruments, amplifiers, sheet music, and accessories, doesn’t do you or your customers any good if you don’t have an effective and economical way to manage it. Disorganized inventory can result in customer frustration, reduced productivity, and lost sales.
There’s a solution for that!
A cloud-based point of sale and e-commerce solution—featuring a single database—can automatically update inventory across your website and point of sale in one seamless, integrated process.
Using one database to manage your inventory means you don’t have to manually reconcile your POS and website every time an item is sold. Additionally, it makes uploading inventory a breeze since you only have to add your products once and the software updates everything across your POS and website. Eliminating several steps in your inventory management process helps you cut organizational costs that might otherwise eat away at your profits.
Another benefit of a perpetually updated inventory management system is that you’ll gain a distinct advantage over other music retailers that use less reliable inventory software. Why? Because, in addition to streamlining the inventory process, it ensures that inventory items on your store’s website are represented in real time.
“Retailers need accurate inventory data for their customers so they can make informed buying decisions.”
Source: SPS Commerce
When customers know that the inventory items they see on your website are accurate, they’re more likely to visit your store and make a purchase. This helps build trust and drives more foot traffic.
“Accurate inventory information matters. If you’re out of a product, but the customer knows it up front, they’re less likely to be unhappy. They’ll shrug their shoulders and move on, but they’ll be back. But if you disappoint them, if you “break your inventory promise” as it were, they’ll move on and may be gone forever.”
Source: SPS Commerce
When your music business operates more efficiently, you’re more likely to see increased profits and growth. By automating your inventory management processes with an integrated, cloud-based POS system, you can replace time-consuming, multi-step procedures with streamlined processes, simplifying the day to day operations involved with running a retail store.
Not only will you see a marked improvement in efficiency, but you’ll be able to focus more of your efforts on helping customers and making profits.
You’ll also enjoy the confidence that comes from knowing your products are being represented accurately online when customers Google your store. This can result in increased foot traffic when customers research online first then walk into your store knowing you have what they want to buy.
“Our Year-over-year sales increased by 35%, after switching to Rain Retail.” ~Jeremy Chapman, Co-Owner, The Acoustic Shoppe
Also published on Medium.