Aiming to help retail stores avoid losing revenue and boost profit, Sapo Technology JSC specialised in provides sales management software has just launched its free-of-charge Sapo sales management mobile phone application.
|The Sapo application is a powerful management tool for shopkeepers|
The application is expected to help the owners of small-sized shops to get used to sales management technologies. The application has been connected with some delivery companies like Giaohangtietkiem.vn, VNPost, GHN Express, Shipchung, and others.
“Sapo’s free application turns shopkeepers’ smartphone into a small vending machine. It helps shopkeepers import goods as well as manage sales performance and inventories. Additionally, the application also helps shopkeepers keep track of their business performance to find the most suitable strategies,” said Tran Trong Tuyen, CEO of Sapo.vn.
Local shopkeepers still calculate gross margin by deducting the buying price from the selling price. However, shopkeepers cannot properly calculate other expenses like hiring costs, rental costs, and loss of revenue.
“The buying price of a package of noodles is VND5,100 and its selling price is VND6,000, so the rate of gross margin is 15-20 per cent. So far, I have been managing my sales performance by bookkeeping, but I do not know what my actual business performance is like,” said a shopkeeper in Hanoi’s Thuong Tin district.
|The survey also stated that the US’ rate of loss was the highest with 1.85 per cent, while European countries came in second with 1.83 per cent. Latin America ranks third with 1.81 per cent, while the Asia-Pacific is in the last position with 1.75 per cent.|
According to Sapo’s latest survey of 500 shopkeepers in Hanoi and Ho Chi Minh City, 18.5 per cent do not use tools to manage sales performance, 41 per cent keep books, while the remaining 40.5 per cent uses sales management software.
Shopkeepers who only keep books or those not using any tools face tremendous risks in controlling their revenue, profit and loss, and inventories. Accordingly, the retail industry’s profit rate reached an average of 2-3 per cent of the annual revenue, while the industry’s loss rate is an average 1.82 per cent of the annual revenue, which is close to the profit rate. If they do not tighten sales performance, stores can easily slip into fake profit and actual losses.
The main reasons behind this loss of revenue include shoplifting (34.34 per cent), mistakes during working with suppliers (24.28 per cent), fraudulent behaviour of staff (22.95 per cent), and bookkeeping errors (18.43 per cent).
The data was published by Planet Retail RNG’s survey on 1,120 representatives of retail groups across the world in 2018. Accordingly, the annual global loss rate of 1.82 per cent equals $99.56 billion.
By Hoang Van
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