Retail Information System
RETAIL INFORMATION SYSTEM This invention relates to a system for retrieving and providing information relating to sales, using for example salesman handsets or other units to retrieve and display information.
The commercial success of many retail businesses relies heavily on the manner in which stock is bought. Buying too much or too little of a particular line of goods can have serious consequences for the cash flow of a business.
Clothing retail stores need to be especially careful when purchasing stock for retail. Trends in fashion result in clothes having a shelf life, during which certain items are considered fashionable, and after which, these items become harder to sell.
A further consideration when purchasing stock for retail is the storage space required to store unsold stock, both on the shop floor and in the store room.
Ordering too much of a particular line of stock can result in the display space for other lines being wasted, which in turn may lead to a loss of potential sales.
In order to increase the sales of surplus stock, a retailer may decide to sell the items in a'sale'. This is when the retailer reduces the price of items on sale to below the original retail price. If it is necessary to sell the stock quickly, the retailer may reduce the price of an item to close to the item's wholesale price. Therefore although the items may sell, the retailer cannot make any profit on these items.
On the other hand, if the retailer decides not to increase the sale of surplus stock, after a time the retailer may be seen to be selling unfashionable stock-this can effect the retailers reputation.
Conversely, if a retailer is over cautious about the amount of stock he purchases and purchases too little, this can also effect a retailers profits. For example, running out of a particular line when there is still demand for such items results in the loss of a potential sale. This may frustrate customers who will be encouraged to look elsewhere for
The commercial success of many retail businesses relies heavily on the manner in which stock is bought. Buying too much or too little of a particular line of goods can have serious consequences for the cash flow of a business.
Clothing retail stores need to be especially careful when purchasing stock for retail. Trends in fashion result in clothes having a shelf life, during which certain items are considered fashionable, and after which, these items become harder to sell.
A further consideration when purchasing stock for retail is the storage space required to store unsold stock, both on the shop floor and in the store room.
Ordering too much of a particular line of stock can result in the display space for other lines being wasted, which in turn may lead to a loss of potential sales.
In order to increase the sales of surplus stock, a retailer may decide to sell the items in a'sale'. This is when the retailer reduces the price of items on sale to below the original retail price. If it is necessary to sell the stock quickly, the retailer may reduce the price of an item to close to the item's wholesale price. Therefore although the items may sell, the retailer cannot make any profit on these items.
On the other hand, if the retailer decides not to increase the sale of surplus stock, after a time the retailer may be seen to be selling unfashionable stock-this can effect the retailers reputation.
Conversely, if a retailer is over cautious about the amount of stock he purchases and purchases too little, this can also effect a retailers profits. For example, running out of a particular line when there is still demand for such items results in the loss of a potential sale. This may frustrate customers who will be encouraged to look elsewhere for