Businesses commonly attribute the decline in sales to factors such as Naira scarcity, lack of visibility, economic downturn, and reduced purchasing power of customers, which are indeed valid reasons.

However, what if the issues causing your business to struggle are within your control?

It's essential to understand the root cause of your business's performance issues to develop appropriate solutions.

Therefore, the first step in resolving your retail business's sales target issues is to identify the underlying cause.

In this blog we share with you some common reason why your business could just be doing badly from our interactions with business owners.

1. Using a Single Payment Channel: with the scarcity of naira, businesses who solely really on cash transaction have been dealt a big blow as the days of “CASH ONLY” are looking long gone. Give your customers more option to make payment and see them return back to do business with you. Leave them spoiled for option.
2. Delayed Confirmation of Payment: Time is money and customers don’t like to wait for long to get their payment confirmed. You know what Nigeria is today and how long it takes to get a bank transfer confirmed. It’s time to move to a system that allows for instant confirmation of payment.
3. Slow Processing Time: Continuing from the second point. An increased processing time for customer order can be tiring for the customer, as they have to wait minutes to hours to get confirmation that their orders has been processed. Reduced that processing time and process more orders, issue invoices and receipt in record time to better your customer experience therefore making more money.
4. Poor Business or Retail Management: When you have multiple businesses or locations, keeping a tab on their activities could be overwhelming. We understand and you could just be losing some good business profits along the way. You need a system that allows you manage all of your businesses from one dashboard and SelPay is the perfect fit for you - with it one dashboard and multiple businesses model. Stay up to date on all your businesses.
5. Lack of Data: Data is life and a business without data can’t make informed decision. For example, how do you know which products is making the most sale? Or which of your businesses is raking in profits if you don’t have a system that provides real time analytics of your business operations. You need a system that capture and present all of these data in a way that is easy and understandable.
6. Lack of Proper Inventory: Inventory is a major issue for retail businesses if not properly manage could crumble the business. Your inventory let’s you know when to restock and what products have exceeded their shelf life. Doing this manually could be strenuous and be all work with little outcome. Automate your inventory system, stay informed when a product has reached it preset restocking level from one dashboard on SelPay.

Now you know some of the reason why your business is struggling. 

What next? Fold your hands and watch?

Hell no!

We have got a perfect solution just for you. All of the aforementioned issues was why SelPay was birthed to save time, cut cost, work smart, make sales and get paid easily.

Look no further visit SelPay and get started.