The holiday season is around the corner, and after a year of lockdowns, closures and uncertainty, it’s projected to be the biggest yet. We found the top five Lightspeed Analytics reports to make the most of the busiest time of year.
1. Low stock alerts
Make sure you’re purchasing more of your best-selling items for the holidays! The low stock alert report lets you know which items you’re running low on, so you can order them in time for your busy season.
2. Dusty inventory report
The dusty inventory report shows you exactly what it sounds like—the inventory that’s been sitting on your shelves, collecting dust. This will give you a better idea of what you need to clear out before the holidays and what items you could potentially bundle with your top sellers.
3. Upselling report
One of the best ways to boost profits is to increase your upsell rates. The upsell report shows which of your employees are upselling the most. That way, you can see who’s performing the best and who could use a bit more training before the holiday rush. To give employees extra motivation, try offering a prize or bonus to whoever has the most upsells, and track everyone’s progress with this report. Bigger basket sizes will also keep your stock leaner, so you’ll have more revenue and less dusty inventory to boot.
4. Category sales
Your best selling categories don’t have to be a mystery. Check the category sales report to see which types of products bring in the most sales, so you can make sure to order enough inventory for the busy season. This report also lets you view by time frame, so you can see what types of items were big hits last year and which weren’t.
5. Targeted marketing by product report
Knowing what your customers have already bought will help you market items that are more likely to be up their alley. Targeted marketing by product gives you the opportunity to create targeted marketing campaigns to customers that bought a specific product from you. This can help you clear out inventory that hasn’t been selling as well as get customers to purchase relevant upsells.
With these five reports, you’ll be better prepared to take on the holidays and beyond. Lightspeed Analytics helps you make smarter decisions for your business when it matters most. Learn more about the other reports you can generate here.
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