How to Increase Productivity with the help of IRYS RFID Solutions?
Productivity is a measure of performance that indicates how efficiently inputs are converted into output. Researchers have developed many methods to measure the productivity of a person, a machine, a factory and even a business. It is one of the key parameters used to assess the progress or growth of a company.
The jewellery business, like any other retail business, is highly competitive. It is, therefore, necessary to analyze and constantly improve the factors that determine productivity. Customer retention, conversion rate, sales revenue and employee satisfaction are some of the key factors a jeweller must focus on when determining the store’s productivity. An efficient jewellery management system or software can make a world of difference in terms of store productivity. Irys provides solution for jewellery stores specifically designed for the Gems and Jewellery industry.
The number of customers is a direct indicator of how your jewellery store is doing. An increased footfall indicates higher sales opportunities which can eventually result in higher cash flows. However, attracting new customers is an expensive and difficult activity that a store has to undertake. Retaining existing customers and increasing the sales volumes through them is a more cost-effective option.
Sales revenue generated by your store too is a good marker of your productivity. When calculating these measures, a retailer must account for the gross margin which includes all expenses such as the rent, employee salaries, inventory management, marketing and transportation, etc.
Employee satisfaction also plays an important role in improving your store’s productivity. Happy, satisfied employees can focus better on customer interaction and thus have higher conversion rates. A jeweller should always keep his/her staff motivated.
Irys’ jewellery software solution empowers you to improve your business’s productivity. It analyses customer footfall and helps you understand which marketing campaign is or isn’t working. To enhance your sales revenue, the tool offers key business insights about fast-moving items and product viewership patterns, in turn helping your staff boost the conversion rate. It also helps mine data for extracting information like number of items showcased by an employee, items sold and customers catered to, giving you a fair idea of skill utilization and staff performance. All these insights become available at your fingertips!
A jewellery business solution suitable for small, medium and large retailers, Irys ensures businesses reap maximum benefits with minimum investments.
Log on to www.irys.com.sg to know more.