Shopify (POS) Point of Sale Reports

How Report Pundit Adds Value to Your POS Analysis

eCommerce has transformed customer buying habits forever, with 2023 witnessing a staggering US$5.8 Trillion in sales worldwide. Does it mean the end of the road for brick and mortar stores?

Hardly, because physical stores compliment online sales. Retailers saw a jump of 37% in website traffic within 3 months after opening their physical store, meaning Point-of-Sale (POS) retail is a large contributor to eCommerce.

But that’s only true if managed right. Fortunately, you can track physical store metrics/key performance indicators (KPIs), just like with online stores. Then take that data and analyze it for valuable insights into your POS setup like how well a particular store is doing, is the inventory management working out for POS operations, what local customers want, etc.

What is POS Analysis?

Brick and mortar stores, while beneficial, also bring unique management challenges. You have to keep up with many POS metrics like:

• Inventory status
• Transactions, including expenses like rent and utilities
• Customer information, including their purchasing behavior
• Sales performance, etc.

That’s a lot of data, which only grows with time and as your business scales. And in a data-driven world, its value can’t be overstated for POS success.

But how do you turn this raw data into insightful information? Two words - POS Analysis.

POS Analysis is the process where you collect, organize and interpret data generated by your POS systems. While there are some standard guidelines on performing this analysis, sellers usually alter those to suit their specific needs.

Why Perform POS Analysis?

Lose track of any metric mentioned above and your POS store management goes off the rails, turning an eCommerce money spinner into a loss maker. POS Analysis can turn that around. The process provides merchants with insights into their physical store performance, offline customer behavior and order trends, crucial for managing and growing Shopify businesses that have brick and mortar stores.

Managing physical stores is a whole other ball game compared to online stores because:

• Each product may perform differently depending on location
• There are POS-specific overhead costs like liability insurance, utility bills, local business licenses, etc. affecting the bottom line of each location
• Every location may behave as a different market with varied customer preferences
• Promoting the stores to local customers in line with their preferences

Do you know why POS sales at a location are lagging? It could be from low customer count due to poor local demand or shifts in customer preferences. Also, handling complex tasks like refunding offline returns of online purchases is impossible if your POS process isn’t set up for it. POS analysis can reveal such blindspots in your store management, likely pointing out their solutions.

Some of the common solutions POS analysis can help you identify are:

• Staff re-training - to improve their product knowledge and work culture
• Revamping marketing strategy - to better match local customer tastes
• Increasing staff incentives - to boost their morale and productivity
• Figuring out peak sales periods by products and location - to maximize their potential
• Restructuring product lineup and their prices - to reduce losses and raise inventory management efficiency
• Offering physical store-only discounts - to increase sales in physical stores

and more.

As you can see, POS analysis paves the way to smart, data-driven decisions for managing your Shopify POS operations in the best possible way.

Why Report Pundit is Key to your POS Analysis

POS stores generate a ton of data, with volumes varying by business size, customer numbers, time period, number of stores, types of products sold, etc. Different types of POS outlets like pop-up stores, self-service kiosks, POS terminals, etc., have unique data collection requirements too.

For example, inventory management for a stationary ice cream store is different from that of an ice cream truck.

Report Pundit converts your raw POS data into convenient tables and graphs for easy comprehension. You can gain insights on POS-specific transactions, sales, sales contribution by each staff member, and more.

POS Reports in Report Pundit

There are four reports in Report Pundit that aid your POS analysis:

• POS Sales by Location

This report offers insights into each POS location's sales performance, allowing comparison across stores and identifying top-selling products by location.

• Sales by Staff

This report measures individual staff performance, highlighting top sellers. Use this data to create employee management strategies, motivating them with rewards.

• Staff who Assisted with Sales

This report captures data on multiple salespersons contributing to a sale, ensuring staff who assist are recognized. Accurately attribute a staff member’s share of a sale to reward them properly.

• Profit by POS Location

Every sale contributes differently in terms of profit margin. You can capture this vital data by location with the Profit by POS Location report.

Here are the benefits Report Pundit brings to your POS analysis

• Discover Growth Opportunities and Obstacles

Analyzing product performance by location reveals its sales trends, maximizing product potential. The Sales by Location report provides this insight, identifying underperforming factors such as low foot traffic or changing customer preferences for timely adjustments.

• Recognize and Reward Staff Performance

The Sales by Staff report showcases each employee's impact on POS sales. Use this insight to reward them and recognize those who assisted in sales. Analyzing this data can uncover issues like poor work culture or insufficient training. The Shopify staff feature in app settings ensures accurate staff identification by matching IDs and names.

• Compare Sales across Channels

Determine your most profitable sales channels and customer shopping preferences, both online and in-store, via comparison. It can help strategically enhance your POS sales.

• Understand Inventory and Order Fulfillment Trends

The Inventory by Location report enhances your understanding of on-site inventory management for POS stores, spotlighting inefficiencies and sales patterns to refine operations. Additionally, the Sales Over Time and Refunds reports delve into order fulfillment trends, including POS pickups and online order returns. Synchronize operations between your digital and physical Shopify storefronts for smooth sales and refunds.

• Get Custom POS Data

Customize your POS reports to add data that you need. You can combine, say, the Sales by Location report with Product Tags. Then, drill down to specific data points, like how many e-hybrid and combustion cars were sold individually, for example.

POS Analysis Keeps your Shopify Performance On-Point

POS outlets boost your Shopify business, supporting growth and buffering against online sales dips. A data-driven POS strategy is crucial for meeting sales targets. POS Analysis, powered by accurate and comprehensive data, provides the deep insights needed to optimize your POS outlets effectively.

Data provided by Report Pundit

From instant access to pre-made POS reports to custom reports crafted by our expert support team, Report Pundit offers comprehensive tools for Shopify POS Analysis. Uncover detailed insights into your POS operations with user-friendly data, all at competitive prices.

Start your 14-day free trial today and then choose a plan that works for you. Hit the chat button to know more.