Do you ever feel like you're spinning your wheels in the mud and doing everything you can but making no progress?
For example, you might be doing everything to promote your wine products to boost sales, but they aren't flying off your shelves like you'd want them to.
The profitability of all retail stores, including liquor stores, is based on "product in and product out." When an entire category of items doesn't sell well, that can be a cause for concern.
An effective and efficient point of sale system can help you avoid issues with manual processes taking too much time and being prone to error.
They can also be used to help you leverage data and boost sales.
This article will discuss how you can use liquor store inventory management software to sell more wine and increase profits.
The Power of Wine Inventory Software
As a wine store owner, looking for ways to improve the sales of your products can take time and effort to figure out where to start.
Liquor inventory software can help with this.
Inventory management provides insight into your sales, marketing, and stock. However, not all software is made equal, and yours must specialize in the products you sell. Solutions like Bottle POS have been designed specifically for the liquor industry and offer unique features that make running liquor store operations an absolute breeze.
With wine being one of the more profitable products in a liquor store, Bottle POS can help you better understand wine sales and inventory through its centralized product database.
With a solid POS system, you can automatically track and update inventory counts based on sales — giving you real-time data on stock levels and visibility into hourly, daily, and monthly sales reports.
Outside of managing stock levels, inventory software adds value to your business with detailed reporting so you can focus on boosting your revenue.
Without further ado, let's look at a few core features that can help you increase revenue and drive store growth.
1. Inventory Management and Stock
Inventory management can become a chronic headache for liquor store owners. With new products hitting the market, and tracking what sells or what becomes dead stock, deciding which new products to stock is hard.
Wine inventory software is the solution to your headache — it lets you navigate product catalogs with background information before purchasing, which also helps keep your stock diverse.
Using machine learning, Bottle POS’ wine inventory software automatically adds a grade to each product based on the popularity of sales. You'll be able to see what products are popular, so you know what to reorder. Bottle POS will show you what vineyards your popular wine products are from, so you can order more from them specifically, and promote it to your customers.
With that in place, you can shift your focus from balancing inventory levels to increasing revenue. With inventory management software, you can build a diverse inventory while becoming a wine product expert through extensive product catalogs and information.
2. Automatic Invoicing and Reordering
Another beneficial aspect of having wine inventory software integrated into your POS is automation. With automated invoicing, there's no paperwork to process.
When deliveries arrive, your software can process all of the items, allowing you to easily oversee and check off incoming inventory. From there, the invoice is processed and updated within the same system.
With cloud-based software, you can access data anywhere, allowing you to process invoices from suppliers anywhere at any time.
Simplifying the ordering process streamlines efficiency. If a particular product is very successful in your store, you can easily automate the reordering process, increasing the consistency of this product. This process ultimately leads to less empty shelf time, keeping your bestsellers in stock.
Saving time on these processes lets you focus on the in-store customer experience, so you can do things like host wine tasting events or create marketing campaigns to promote new products.
Just like inventory software helps you shift your focus to increasing revenue, automatic invoicing can save you time to spend on your customers.
3. Centralized Wine Database
Liquor stores have thousands of individual SKUs in stock at a single time, and when it comes to wine, they share almost a third of the overall inventory.
A centralized database of common products can make inventory management smooth and accessible. Not to mention, this saves you a significant amount of time that you would spend writing out the names, sizes, and prices of every wine. This process would take you about two minutes per bottle versus 30 seconds with Bottle POS.
A centralized product database makes it incredibly easy to find products your customers might want. If someone is looking for a chardonnay or merlot, type either into your system, and you'll be able to pull up all the available bottles you have.
Balancing top-selling wine with new products based on informative data will increase your overall revenue. With sales reports showing you what products sell well, you can also start ordering more products from different vineyards to find more wine that your consumers will want to try.
With this data, you can create marketing campaigns or promotions catered to popular products and other related wines to capitalize on previous successes. Being able to make suggestions and recommendations or find products easily will turn you into the wine expert of your community, driving more traffic and loyal customers to your store.
Wine Inventory Software to Uplift Your Wine Sales
If you want to increase wine sales, using the right inventory software can help boost revenue.
Bottle POS is the perfect solution for all of your wine inventory concerns. With their centralized database and inventory features, you can easily see inventory levels, product details, and sales reports.
Robust automation takes care of the time-consuming process of managing invoices and stock shipments. Automated invoicing technology means all that's required is oversight of items and a digital signature — saving you hours of unnecessary paperwork.
Products are recorded and organized by grade based on popularity. They can be added to a preset reorder process, saving you time and money, and ensuring your most popular products are always available.
Better processes, more product knowledge, complete visibility, and control over your inventory are guaranteed ways wine inventory software can help you sell more wine. With these functions in place, you'll be able to maximize the profitability of your wine products.
If you're ready to boost wine sales, get in touch with us at Bottle POS, and we can show you just how easy it is to take your store to the next level.
