Just like a smooth vodka is the foundation for the perfect martini, effective inventory management is the most important ingredient for liquor store success.
But keeping your liquor store well-stocked is more complicated than mixing up a delicious cocktail.
In this blog, we’ll explore some common pitfalls you might encounter on your liquor inventory control journey — plus how to take them in stride.
1. Relying on Outdated Liquor Inventory Methods
If you’re still counting bottles by hand and recording the results on paper or in a spreadsheet, you’re overdue for a liquor inventory control overhaul.
These manual methods are time-consuming and error-prone, taking up valuable time in your day and leading to inaccurate inventory records.
Instead, consider investing in modern inventory management software that automatically tracks every item in your store and gives you real-time insights into your stock levels.
2. Underutilizing Your Liquor Store POS System
Your liquor store’s point of sale (POS) system is an inventory management powerhouse. It can track your stock, streamline your reordering process, and ensure that your customers’ favorite spirits are always on your shelves.
Let’s take a closer look at the two main liquor inventory control features your POS system should include:
- Automated purchase orders: When your stock levels dip below a certain threshold, your POS system will automatically create a purchase order for the right products, making the reorders quick and convenient.
- Automated receiving: Once the new stock has arrived at your store, your POS system will automatically add it to your inventory records for a seamless restocking process.
These advanced tools make keeping your store stocked nearly effortless and give you more time to spend with customers.
3. Understocking Bestselling Spirits
When a shopper visits your liquor store, they often have a specific spirit in mind. If they can’t find it on your shelves, they might walk away — causing you to lose a sale and possibly a loyal customer.
Understocking is a major liquor inventory control mistake. It puts a dent in your bottom line and hurts your store’s reputation as the go-to place for all things liquor.
To avoid this costly problem, rely on your POS system’s liquor inventory management features to keep tabs on your stock levels and reorder before a stockout strikes your store.
4. Overstocking Less Popular Products
On the other hand, overstocking is a liquor inventory control issue to avoid.
Keeping too many bottles of your slowest-moving spirits in stock causes cash flow and storage problems, preventing you from stocking the products your customers actually want.
To avoid overstocking, invest in a liquor POS system that gives you a ranked list of your products, revealing which ones fly off your shelves and which ones collect dust. Equipped with these insights, you’ll be able to strike the perfect balance between overstocking and understocking your liquor store.
5. Ignoring Liquor Sales Trends
As the weather heats up, you might notice your customers gravitating toward ice-cold beers or margarita-worthy tequilas. When winter rolls back around, you’ll find them searching for the perfect wine to gift or a bubbly champagne to toast.
Keeping up with these trends is critical for liquor store success — and failing to prepare for them can be a missed opportunity.
To make the most of seasonal liquor shopping shifts, pay close attention to your sales reports, note when certain products rise and fall in popularity, and implement strategies to stay on-trend.
6. Only Making In-Store Sales
The final liquor inventory control mistake to avoid is underestimating the power of e-commerce.
Selling liquor online expands your customer base, gives you new sales opportunities, and sets your store apart from the competition. Instead of making the trek to your liquor store, your shoppers can browse your aisles from the comfort of their homes, place a simple online order, and enjoy a convenient pickup or delivery experience.
Launching your online liquor store is easy as long as you choose an e-commerce platform that’s designed for the liquor industry and integrates seamlessly with your POS system.
Master the Art of Liquor Inventory Control With Bottle POS
The best way to avoid these common liquor inventory control mistakes is to rely on the right POS system. This critical tool makes keeping your store well-stocked, your customers happy, and your sales high a breeze.
If you’re searching for a POS solution to transform your liquor store’s inventory management process, check out Bottle POS.
With time-saving tools like automated purchase orders and receiving, sales-boosting features like a built-in customer loyalty program, and advanced reporting and analytics capabilities, Bottle POS has everything you need to run an efficient and profitable liquor store.
Give our software a try by scheduling a live demo, or get an instant quote using our pricing tool.
