Forecasting for retailers: How can it help increase your profits?

Are you curious about how forecasting can boost profits for your retail business? Let's explore how it can increase your revenue and what effect it might have on your company.
Reading Time: 2 minutes

You may have already looked everywhere for a solution to lower your retail costs.

Sometimes the fast solution will not bring you the most effective result. It can lead to frustration. I know. 

That’s why today we will show you the three main benefits of Bizimply’s labour and sales forecast for retailers.

To help you have an overview of all the advantages you can have from changing to a data-driven mindset, not only to save money but also to differentiate yourself from your competitors.

But let’s get to the point. Shall we?

What is labour forecasting?

Imagine being able to predict your sales with pinpoint accuracy, down to the hour. That’s what forecasting can do for you.

Compare sales against scheduled hours and historical data. You can set target labour and sales percentages per schedule and location.

You’ll always have the right number of staff working. Reducing costs and maximising revenue. Breaking down those costs by department will help you identify opportunities.

The result? A more efficient and cost-effective operation.

Why? So you can…

Increase Customer Loyalty

Nothing beats good customer service. Customers tend to return to your store if they are happy with your employee service. We all know that.

But we also know that we are all humans, aren’t we?

Sometimes you may have employees that sell more at a certain time of the day or when your shop is less busy. We all get a little bit overwhelmed if there is a shortage of staff on a busy day.

Having the right people at the right time helps you make sure your customers are being taken care of. Which enhances your customer loyalty rates.

Save money

Having the right people at the right time can also help you save money. You need to make sure your scheduling does not affect your profits at the end of the day.

labour forecasting with Bizimply

Despite putting in all your hard work, you might suddenly find that you’ve gone over your budget.

Real-time insights as you build or make changes to your roster can empower you to keep a close eye on expenses. So you can stick to your budget and decrease overtime expenses.

Increase staff retention

Paying attention to your employees’ performance can boost employee retention rates.

This boosts employees’ confidence. They are being seen, and their jobs are generating results. Automated processes to take employee preferences into account when creating schedules.

Effective operations management and labour forecasting are indispensable for retail businesses.

With Bizimply, you can achieve better control over your labour costs. Stay ahead of the curve in meeting customer demand.

If you have any questions about how Bizimply can improve your scheduling management, book a demo with our Sales Team! 🚀

Already a Bizimply Customer and want to add Forecast to your account? Get in touch with your Customer Success Manager today! 👨🏽‍💻

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