The fourth quarter can move fast in retail. Before sales pick up, schedules get packed, and year-end gets closer, now is a good time to take a closer look at what your numbers are telling you.
Your NCR Counterpoint system already has a lot of valuable information about your business. The key is knowing which reports deserve your attention.
Here are a few worth reviewing as you head into Q4.
1. Inventory Valuation
How much inventory do you actually have on hand, and where is your money tied up?
An Inventory Valuation report can help you see the value of your current stock and identify areas where inventory may be heavier than expected. Before bringing in additional seasonal merchandise, it’s worth knowing exactly what you’re already carrying.
2. Inventory Movement
Not everything on the shelf is moving at the same pace.
Reviewing inventory movement can help identify your strong sellers as well as merchandise that has been sitting longer than expected.
That information can help you make smarter purchasing decisions, plan promotions, and avoid adding more inventory to categories that are already overstocked.
3. Sales by Item or Category
Your best sellers aren’t always what you think they are.
Looking at sales by item, category, or subcategory gives you a clearer picture of what’s actually driving revenue.
Compare recent performance with previous periods to spot trends and determine where you may need additional inventory going into the final months of the year.
4. Sales by Customer
If you use Counterpoint’s customer tracking features, your customer data can tell you a lot.
Who are your top customers? How often are they shopping? What are they buying?
Reviewing customer sales now can also help you identify opportunities for targeted marketing and customer outreach during Q4.
5. Sales by Store or Profit Center
For retailers with multiple locations or profit centers, total company sales only tell part of the story.
Comparing performance by location can help you see where sales are strongest, where inventory may need to be adjusted, and whether purchasing or staffing decisions should vary from one location to another.
6. Gross Margin
Strong sales don’t necessarily mean strong profits.
Reviewing gross margin alongside sales can help identify products or categories that generate revenue but aren’t contributing as much to the bottom line as expected.
It’s an especially important number to watch before discounting and promotional activity increases later in the quarter.
Don’t Just Run the Reports, Use Them
Counterpoint collects valuable information every day your business is open. Reports turn that information into something you can actually use.
A little time spent reviewing your numbers now can help you make better decisions about inventory, purchasing, promotions, and operations throughout Q4.
And if you’re not sure which Counterpoint reports to run, or you’re spending too much time trying to get the information you need, Mainspring can help.
We can help you find the right reports, better understand the data already in your system, and determine whether a custom report would make your job easier.
Need help getting more out of your Counterpoint data? Contact Mainspring Retail Solutions.
