Retail can contribute to a significant part of your hotel or resort spa’s revenue, with contributions ranging from an estimated 5% to 30%. Here’s how software improves retail sales.
Software can play a crucial role in ensuring the success of retail strategies and the efficiency of processes in several ways. Integrating advanced software solutions can transform how spas and hotels manage their operations, customer experiences, and revenue streams. Here’s how:
Retail sales can contribute to a significant part of your hotel or resort spa’s revenue, with contributions ranging from an estimated 5% to 30%. This significant variability indicates substantial growth opportunity, particularly for those at the lower end of this spectrum. Achieving higher retail sales starts with a well-trained team that is both knowledgeable about the products and personally convinced of their benefits – the effectiveness of a sales strategy is profoundly influenced by the enthusiasm of the sales team for the products they’re selling. Employees who have had the chance to try the products themselves and have fallen in love with them are far more likely to convey a genuine enthusiasm to customers, making the sales process both more authentic and more successful. Do not be afraid to reach out to vendors and ask for samples so that your team can try out the products. They are going to be a vendor’s biggest advocate and your biggest sales people just by making simple post-treatment recommendations.
The implementation of a sophisticated spa and ancillary revenue software system is another crucial step towards enhancing retail sales. Software can drastically improve operations, customer engagement, and revenue generation. By streamlining processes, facilitating better inventory management, and offering detailed insights into customer behavior, software solutions help businesses create more effective strategies, significantly boost sales, and increase overall revenue.
How software improves retail sales
Data Analytics and Reporting
Start with the fundamentals; run retail reports and see which lines and items are selling the best and where the areas of opportunity are. From there you will be able to get a better understanding of how your retail business is operating and why.
For example, if you notice one serum from a particular line is doing really well, audit your selection and see if you are carrying the entire line from that vendor. When a guest is in love with a single item, they will probably be interested in the entire line. This could boost your sales from a 100 dollar serum to upwards of 500 dollars when you factor in a cleanser, toner and moisturizer as well.
Advanced analytics, like those found on Book4Time’s reporting dashboards, provide insights into sales trends, customer preferences, and operational efficiency. This data is crucial for making informed decisions about retail strategy and process improvements. Understanding broader market trends and customer preferences through data analysis helps you tailor retail strategies to meet changing demand. Software can also predict inventory needs by analyzing sales data, and automate restocking orders, ensuring that inventory levels are optimized for demand.
Inventory Management
Staying on top of your inventory is crucial! Software can automate the tracking of available retail products, reducing the risk of stockouts or overstocking. The most popular products are always in stock and you won’t overstock items that aren’t selling. Nobody wants to hear that a product they’ve fallen in love with is unavailable when they want it.
Book4Time software automatically deducts stock from your physical count when an item is purchased through our POS system. The software also allows you to create and receive purchase orders and process intercompany transfers, so you can ship products from one hotel to another and always know what you have on hand and when it’s time to place an order.
Customer Relationship Management (CRM)
There is nothing like a warm buyer who has already had a great experience with you, and software helps you build and maintain the best customer relationships. Stay in touch with customers and remind them when it’s time to refill. Keeping notes about purchase history and behavior allows you to create personalized promotions and recommendations to enhance the guest experience and increase retail sales – if you know what someone enjoys and what they bought last time, it’s easy to follow up with recommendations. Book4Time’s note taking function is for staff to keep records of everything customer related and notes can be shared across multiple properties so staff is ready, no matter where they are. Customer segmentation can help improve your retail marketing by grouping people based on their preferences and purchase history, allowing you to create targeted marketing campaigns. Collecting and analyzing customer feedback through the software helps you refine retail offerings and improve service quality.
Ask your vendors if you can promote a gift with purchase, like a deluxe item from their line or a treatment add-on.
Loyalty Programs
Loyalty programs are a gold mine for retail. These programs can offer points or rewards for purchasing retail products, which significantly increase retail sales by encouraging guests to buy products they might otherwise overlook. Providing loyalty members with early access to new products, special editions, or members-only merchandise can also boost sales and enhance the perceived value of the loyalty program – We got this new body oil in! Try it! – Book4Time manages your loyalty programs to reward repeat customers by offering customizable rewards and incentives, enabling businesses to create personalized experiences that resonate with their unique customer base, ultimately fostering long-lasting brand loyalty and customer satisfaction.
Sales & Revenue Management
Software that supports dynamic pricing for both services and retail products can maximize revenue by adjusting prices based on demand, seasonality, and customer behavior. Software can also identify opportunities for cross-selling and upselling retail products during the booking process or throughout the guest’s stay, increasing per-customer revenue.
Digital Marketing Integration
Integrating software with digital marketing tools can enhance online visibility and drive both bookings and retail sales through social media, email marketing, and SEO. Book4Time boasts the most integrations in the business, working in tandem with more than 100 systems, including marketing automation systems like Revinate, Clairvoyix, and Demandforce.
When it comes to indecisive guests, Book4Time’s Shopping Cart feature allows you to put a hold on a retail item a guest is potentially interested in purchasing. This allows the guest to finish looking around or deciding if they want to make the purchase, without adding it to their ticket. You can also save a pending sale, allowing guests to come back and close out their ticket at a later time.
A streamlined POS system
All of these tips should help you get more out of your software to improve your retail sales. Plus, you can save time and improve guest experience with Book4Time’s built-in Point of Sale system. Our streamlined POS system is easy to use and allows you to process multiple payment options, offer a quicker checkout, and share receipts via email. Clients use our POS software for retail boutiques, golf retail shops, spa and salon products and much more. Guests can make purchases via cash, room charge, loyalty points, membership accounts, or on a credit or debit card. Chances are we seamlessly integrate with your current payment processor.
Spa Executive is published by Book4Time, the leader in guest management, revenue and mobile solutions for the most exclusive spas, hotels, and resorts around the globe. Learn more at book4time.com.