June is a key month for Pro shop retailers, who should be aiming to turn over all stock within 3 months: June often being that third month.
Using April sales figures onwards, you may also soon be expected to place new orders for next season, OR, you could be expecting your second, or even third, pre-orders to arrive soon. Staying on top of stock levels is of paramount importance at this time of year, and crucial buying decisions need to be made... Not easy when you’re up to your eyes in golf lessons, checking-in players, running competitions, managing staff, and overseeing a busy shop.
Fact-Based Buying Choices
Ask yourself these questions.
- Has your business recovered from the bad start of the year?
- What’s the market doing now, and what big events are in the pipeline that might have a knock-on effect on who comes into the shop?
- What are you doing to get behind the big tournaments, like the World Cup, or Ryder Cup?
A quick look at the sales reports (in XPOS you can break this down by product type and supplier) from last summer might jog your memory, and aid decision-making when it comes to identifying stock levels you might need, (or not), for the next few months.
Drop the Drops you Don’t Need
Of course, it makes good retail sense to place pre-orders at the start of the year, to ensure you don’t miss out. However, it makes even better business sense to cancel those pre-orders, if you’re still sitting on too much of that stock now.
Your XPOS system can tell you which products aren’t shifting. Review upcoming drops and consider cancelling what you don’t think you can sell.
Run a Flash Sale
It’s crucial to get rid of your old stock items before new products are delivered. Use your sales reports to confirm what isn’t selling and consider a strategic sale of a small number of items.
Sales work best if they’re unexpected, to avoid customers anticipating them and holding out for cheaper purchases. At this time of year, a small sale of, say, 25-50 items over the course of one weekend, would work best. Be sure to get your marketing hat on and promote the sale with up-front positioning in the store, and advertising via social media, and posters.
Don't Let the World Cup Hard Tackle your Margins!
The world's most popular sports tournament kicks off again on 14th June and, just because it isn't golf-orientated, don't be fooled into thinking that the FIFA World Cup doesn't affect you.
On average, Pro shops see a drop in profits of around 16% during the World Cup, with regular members and visitors enjoying their other favourite sport at home, or in the local pub.
Why not try some of these ideas?
- Organise bespoke World Cup events in the Pro shop and club?
- Make sure you're showing the matches 'live' on screens around the shop and club house
- Produce special World Cup posters
- Get members in the mood with a sweepstake
Don't let the tournament hard tackle your takings and make sure your venue is the first choice for members who want to combine their enjoyment of football with their love of golf.
To help get the party started, we've produced a sweepstake sheet for you to download and print JUST CLICK HERE
As always, our friendly, expert Customer Support Team is on hand to give you any advice about getting the most out of your XPOS system. 01454 318495