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Why Does A Small Business Need A POS System?
There are many reasons why a small business needs POS systems and accounting tools to manage their business.
Retail POS systems allow you to easily and quickly accept payments in-store as well as track and manage inventory levels.
POS and Accounting systems like Clover, Square, Stripe and Quickbooks also collect important information for you to analyze your business.
Examples of product and pricing information collected include:
Transaction and customer data collected:
Transaction time of day and day of week
Number of repeat customers
Average Unit Retail (AUR)
Size of Cart
Taking a look into your transaction data can help you better categorize your products to understand what is and what isn't working in your business.
Common Business Questions that Retail POS Data Can Answer:
What products are selling less this year than last year?
Why is my revenue down in 2022?
What under-performing products should I eliminate from my assortment?
Where is there opportunity to take up my retail price?
What categories of business are slowing down my sales?
Were my marketing campaigns successful in driving business?
Top Retail POS Systems
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