It can be easy to fall into the same habit of stocking your chillers blindly with the same products every single day. But it is important to keep track of what is selling, to monitor changes in trends around certain categories and to make sure you aren’t carrying ‘dead’ stock.
The key is to ensure that your shelves are working as hard as they can be. Do you have the most profitable drinks available? Others might sell more, but you need to make to focus on profit, and not just rate of sale. EPoS can help with this, by showing which drinks make you the most money.
There are FOUR SIMPLE STEPS to follow, using your EPoS, when stocking your chillers. You need EPoS, or at the very least an accurate and bias-free way of measuring your soft drink sales. You need to look at those reports and work out whether you’re getting the value that you should be from everything on your shelf.
If not, then you need to look for alternatives that can make you money.
Swap low rate-of-sale and low-performing SKUs for new products
How often you analyse new products and low-performing SKUs is up to you, but as a rule somewhere between six weeks and three months is a good amount of time to check if something has landed with your current and future customers.
For example: if you sell 20 lines, keep an eye on the lowest-selling two or three. If they are consistently low, you need to consider changing them out for exciting new products. Monitor whether sales drop, and take out the low performers in favour of new ones.
Swap low rate-of-sale and low-performing SKUs for regional products
It might not be exciting new products that you stock in place of slow sellers and non-performers. Analyse what your local competitors sell, and note what your customers ask you for. What regional sellers don’t you have that your customers would love you to have? Switch out slow and low sellers for those products that do well in your local area.
Don’t just swap brand-for-brand
It can be tempting, when you remove one brand that doesn’t sell, to get another version of the same brand in. This is worth trying, of course, but remember the reason why that brand might not be selling might not be because you happen to stock one flavour and not another – it just might not be what your customers want. So don’t feel like you have to swap like-for-like – look at what other brands do sell well, and investigate other variants of those to expand your range.
Check that new products work – and change back if not!
New products add something new and exciting to your fridges. They don’t always work, however. So give them a try, but monitor those sales to make sure that they are keeping sales rising. The moment the new product bounce fades, then look to alter your range to keep it fresh – either by reverting back to what was there before, or adding in something else that your customers do want.
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