When starting a business, there are several things you need to pay attention to. One of them, knowing market share. Market share is a part of the market that is grouped based on segments, such as income level, age, gender, education and social status. If the product you sell does not have market share, it will be difficult to develop your business.
Then, how do we know whether our products will sell and are in demand by the public or not? The way to do this is simply to do a test or market research. Before selling a product, try to do market research. This is done to determine the right form of marketing for the business. As well as finding out about the various opportunities that exist.
It will be difficult for a business to survive without conducting market research. The reason is that entrepreneurs don't know business trends and opportunities without doing research. Market research means collecting information data that is the target of the product. This data is in the form of business opportunities, market needs, challenges and competitors/competitors information. After the data is collected, you can find out analysis of product trends, market segments and business position amidst competitive competition.
This way, you can find out which products are selling or not. This market test can be done in a practical way. This is done by utilizing advertising through digital platforms. You can use Facebook ads, Google Adwords, Instagram, and so on.
After advertising a product, you can see a report on the advertisement that was broadcast. The results are in the form of reports on market segmentation, brand reputation, target audience and other product competitors. So, by studying your target audience, you can find out what products consumers like and need. If market segmentation is clearly known, entrepreneurs can produce goods/services that are really needed.
Apart from digital platforms, there are other ways to find out whether a product is selling or not on the market. You can open a marketplace, such as Tokopedia, Shopee, Bukalapak, and the like. Just check the best-selling products in the marketplace application feature. A few seconds later, trending products will appear. This market research is so easy, isn't it?
Apart from that, there are factors that cause our products to sell or not, namely in terms of price, product specifications and promotions. To be clearer, Qasir will discuss them one by one.
1. Product Price
Want your product to sell? Ensure product pricing is in line with people's purchasing power. Product price is the main point that consumers consider. If you set a product price that is too expensive, you are worried that buyers will not be interested.
Moreover, other competitors sell prices lower than your product. Entrepreneurs also have to be smart in determining product prices on the market. If you set the price too high. Of course, the number of product sales is smaller because the number of consumers is low. When the product is still not selling well, reducing the product price also needs to be considered.
2. Product Specifications
Products offered may not sell well because the product is not clear enough. Entrepreneurs need to provide detailed product information. For example, product description, product function, product benefits, selling price, and so on. So, consumers understand the products you offer.
If the product review is unclear. Consumers are less interested in the product because they do not have a clear picture. This could be a factor causing the product to sell less well, resulting in low product sales volume.
3. Promotion
You can promote via social media. Upload the best product photos. Don't forget to provide interesting content so that it is useful for consumers. If the content provided is of high quality then consumers will slowly come. Apart from that, provide attractive promotions and prizes to customers. In this way, customers will also be loyal to the products you sell.
4. Product Positioning
Is your product still not selling well? Try paying attention to the product positioning. The products sold should be unique and have distinctive characteristics. Products that look different can attract consumer attention. Product positioning must be clear so that consumers are aware rather than using competing products.
It turns out that it is very important to know what products are selling and not on the market. Then what about you? Have you monitored the products in your shop one by one? Or do you want to know what products are selling and not selling well?
If there are a lot of products being sold. It must be difficult to monitor one by one, right? Especially retail and online shop entrepreneurs. Monitor important products for business development and determine when to restock. How do you monitor the product?
All your problems will be solved if you use the cashier application, Qasir. You definitely know this cashier application. The POS cashier application, Qasir, provides what entrepreneurs need. You can monitor your shop, including the products you sell, you know!
To do this, go to the Backoffice monitoring function via www.qasir.id or enter your shop's subdomain URL. The monitoring function on this dashboard is useful for viewing business financial reports in detail. You can even see the financial reports of all outlets. Just click on the outlet whose financial report you want to see.
On the report menu there are several options including the following:
1. Sales Summary
The summary contains total gross sales, total net sales and total profit. To get a summary of reports for a maximum of the last 30 days, you can use Qasir Free. However, if you need a longer sales summary report, you have to subscribe to Qasir Pro which costs only IDR 1000 per day.
2. Best Selling Products
Knowing the best-selling and least-selling products is very important to determine your next steps in filling stock of the product in question. This is also important for determining business strategies or for product development. You can also get this feature for free at Qasir Free.
3. Sales Per Product
In the sales per product feature, you can find out the number of products sold as well as details of the product name. For detailed reports like this and subsequent reports, exclusively for Pro Users.
Learn the differences between reports on Qasir Free and Qasir Pro here.
4. Sales Per Category
In the sales per category feature, details of total sales can be seen per category including the tax burden.
5. Sales Per Brand
In this feature, you can see reports based on brand, quantity and amount sold. Including the total tax that you charge for the brand.
6. Tax Report
In the tax financial report, you can find out the total tax on your shop. For example, total VAT and total other taxes.
7. Customer Report
Customer reports can be viewed based on Total Visits and Total Transactions from that customer. That way, you know which customers are loyal. You can also find out details of customer transactions, whether in full or in cash.
8. Employee Report
In the Employee Report, you can see the contribution of your employees to transactions in the store. If there is something inappropriate in the transaction or product stock. You can check it based on the employee account that is logged in at that time.
9. Payment method
You can find out the total transaction based on the payment method. You can determine what type of payment is suitable or most liked by customers. Starting from cash, non-cash or digital non-cash payments.
To learn more about the monitoring function in Backoffice, click this link.
There are still other benefits of using Backoffice monitoring via www.qasir.id. You can also see the Transaction History report. What is transaction history? This transaction history includes details of total gross sales, number of transactions, transaction status, receipt number, transaction time, payment method, outlet that carried out the transaction and name of employee. Just search according to the sales data you want to find! So now you can easily find out which products are selling well and which ones are not selling well, right? Let's install the Qasir POS application by clicking this link.
Also read:
Is it better to save your monthly income or turn it into a business?
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Don't use feelings! Come on, start recording your income and expenses
It turns out this is the use of the Qasir Cash Recap Feature for MSMEs