Software house Pursuit has announced the launch of a free sales and stock performance analysis service for jewellery retailers.
The service has been designed to give business owners and managers a clear picture of under-performing stock as well as new products and overall best sellers.
The new system will be offered as a rolling commitment, without charge, to users of Pursuit jewellery retail systems.
Analysis parameters include sales and stock movements relative to inventory, staff performance, sales by value and capital tied up in non-performers.
Mike Burns, managing director, Pursuit Software, states: “As well as current sales, analyses can be retrospective – for retailers signing up in the New Year for instance, the service could be arranged to analyse the pattern of sales and stock movement over the weeks spanning the Christmas season.
“The breadth of information we can provide is what any business owner would love to have but probably lacks the clerical resources available to compile it. As a manual task, analyses on the scale we are offering would be extremely time consuming.”
He adds: “The analyses have a multiplicity of purposes – your own market research, spotlighting newly trending and declining products and product categories, right down to capital tied up in poor sellers. In other wides, precisely what you need for the best-informed future buying decisions.”
Information provided by the service is being processed by Pursuit’s state-of-the-art analytics software package, which launched three years ago. With growing awareness among company managements of the value of ‘big data’, the company’s analytics product has been attracting increasing interest as a key business tool.
“Our new service is designed to supply a standard range of analyses, without charge,” Burns explains. “If a retailer at some point in the future wanted a deeper picture – focused on items within particular product categories and with a price points breakdown for example – this can be made available for a fee determined by the extent of supplementary analyses required.”
He concludes: “The result will be two-way information flows between retailers and suppliers. From a marketing perspective, suppliers for example should be just as interested a retailer’s stock that isn’t moving as the retailer itself. Money tied up in poorly performing stock means the retailer may spend less freely on new product lines.”