Reports and Analysis

Reports. Yeah, I know... tedious and tiresome. You'll get to them later, there are more important things to do now... Well, now is the time. Get excited! You're going to do this!

Think about it this way. If your doors are closed for a month, you've lost a little over 8% of your annual revenue. You've likely offset some of that by laying off staff, cutting advertising costs, and cutting other expenses. What if you can make some well-thought-out choices and improve your sales by 2-3% once the doors open back up. That 8% isn't as daunting as it seems.

Run sell-through reports. See what's selling well and what isn't. Look at how quickly products belonging to various categories sell. Look at the profit margins. You can improve margins by identifying types of products you're pricing too low. You can improve gross sales by identifying products you're pricing too highly.

Spend some time looking at sales numbers on different days of the week, at different times of the day. Do you need to expand your hours to take advantage of hot days/times? Do you need to cut labor or reduce hours of operation to avoid weak periods?

Do you have some big customers who haven't been in to shop in a while? Do you have productive suppliers who haven't brought anything in for a while? Find out, and use this opportunity to reconnect with them.

The data that's been captured by your software is an invaluable resource to you. Tap into it and unleash the full potential of your business!

Please visit the Reports node of this help site for information on every report Liberty REACT has to offer:

Reports Help Menu Node

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