Fresh from the success of being crowned TGI Golf Pro Shop of the Year, Simon Fletcher, PGA Professional at Morecambe Golf Club, did not sit back and admire his work. Within days he was implementing changes to ensure his business continues to thrive.
During the two days either side of the TGI awards evening Simon, along with 100 other high quality retailers, absorbed expert advice at the group’s Business Conference. One speaker that struck a cord with Simon was Phil Barnard, Managing Director of Crossover Technologies, the golf industry’s leading provider of retail management solutions.
Phil’s seminar – The EPOS Reports You Cannot Live Without – opened the event and gave those PGA Professionals gathered an in depth look at the most important reports available through their Crossover XPos software.
During his seminar Phil discussed the importance of the UnpopularProducts reports within XPos and how dead stock is extremely dangerous to retailers, costing them far more than they believe.
He explained: “Every £100 of dead stock actually costs the retailer £208 in total. That’s £108 profitability and £100 investment in stock.The average dead stock holding is £8,000, so that actually costs retailers £16,500. It is vitally important to keep on top of it.”
These facts and figures struck a cord with Simon who took immediate action.
“As soon as I was back in the shop I ran the Unpopular Stock reports Phil recommended,” said Simon, who has been Pro at Morecambe since 2001. “I was gobsmacked at the depth and detail the report gave me and knew I had to act quickly, put on a fire sale to clear the ‘dead stock’.”
Phil also discussed how many Pros class ‘dead stock’ as items that have been in store for 12-24 months, when in fact, anything sat on the rails for six to nine months should be classed as ‘dead’.
“The reports Phil highlighted to us through XPos were a real eye-opener,” continued Simon. “I returned from the Business Conference Wednesday night, looked at the reports Thursday, started a social media campaign that night and ran a sale Friday to Sunday.
he shop emptied and now I have a shop full of fresh new stock ready for the new season. I tried a couple of key points from Phil’s seminar and I had instant success.”
Phil added: “It is extremely satisfying to hear of Simon’s success. At Crossover we continually strive to help retailers enhance their businesses and increase their profitability.”
Crossover Technologies www.crossovertec.co.uk