POSM

Times have changed! Retailers now compete against chains, big box stores, the internet and vendors who circumvent brick and mortar retailers to market directly to users. Maintaining margins requires more sophisticated control, relying on better data input than ever before. Successful retailers today use sophisticated POS systems to capture details about each customer, each purchase, each order and more. The mounds of data must be analyzed so that decisions can be made effectively about buying, marketing, selling, merchandising and accounting. Branding and private label options become part of a strategy that must be considered and developed before each season. That strategy must be based on metrics like GMROI, turn, freshness and performance for each individual classification.