POS Software company supports shop local promotion for small business retailers

LocalPosters2015_Page_3POS Software company Tower Systems is helping small and independent retailers to promote the support of local retailers through an innovative campaign of collateral created by the company for its retailers.

We are thrilled to be investing our creative resources in support of our retailer partners in this way.

This latest artwork is part of a series we have developed in-house through our amazingly creative marketing team to give our retailers different voices and platforms through which to pitch their shop local credentials.

This is another Tower AdvantageTM.

The free marketing collateral will be released next week.

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Sunday retail management advice: how to quit non-performing stock in your retail business

Too often retail businesses hand on to stock that is not working for too long, so long that it is losing money for the business. Today, we offer advice to retailers on how to suit non-performing stock. This advice is for any retailer, not just those using our Point of Sale software.

Product is not working in a retail business if it is not paying its way – paying for the floor space it takes and the time you spend on it. Check your sales, rank all your stock based on sales – look at the bottom performing stock. Your software should have a ranked Sales Report that lets you list all your stock ranked by unit or $$ sales. Use this to create your list of items to consider.

The other way to identify stock that’s not working for you is to check your back room or other storage facility. Stock that is not generating cash regularly has to be considered dead in our view.

When do you quit a product?

You quit, exit, products when they are not paying their way, when a season is done or when you want to exit that category for some other reason.

Why quit stock?

To keep your shop fresh, to not be weighed down by dead stock to make your shop look more relevant, to stop hoarding.

How to quit stock.

Here is how we quit stock in our corporate stores. Remember, these businesses are in shopping centres where space is limited and expensive. We are deliberately aggressive.

  1. Set a deadline. We’d suggest two weeks for quitting a product or range of products.
  2. Choose your timing. The best time to quit stock quickly is on your busiest trading days. For many this will be the weekend. Consider structuring your quitting program to run from Thursday through Sunday.
  3. Set your initial price. The discount must be compelling. We’d suggest 50% off. A smaller discount in this marketplace will not get noticed. Think about your discount words: in some areas, HALF PRICE works better than 50% OFF. Sometimes, 2 FOR 1 can be even more effective. A $$ price can work better – for example a dump bin with everything priced at $1. People then don’t have to work anything out.
  4. Move the product to a high traffic location. Display it as a line you are quitting – in a dump bin or in open boxes. This must be in a location away from where the product is usually located. Do not make an attractive display. Consider placing the stock somewhere that people almost stumble over it.
  5. Put up a sign that is either black on white or white on read. Nothing fancy. Even a hand written sign is good. Do not make a complex or attractive sign.
  6. Adjust your price. If sales are not strong enough, go harder with your discount. From 50% off we suggest a drop to a $$ price point. It can be challenging selling something you would have sold for $20.00 at $1 but that $1 is better than getting nothing for the product at all.
  7. Give it away. If the products are not selling, consider giving the stock away to a local charity. Getting it out of your shop for no compensation can be better than it taking space and giving off the wrong message about your business.
  8. Keep track of time. If you decide to be out of the stock within two weeks, stick to that and make it happen with your pricing and placement decisions.
  9. Use the bin. If you can’t sell the item and you can’t give it away, use the bin.
  10. An alternative: If you have a large amount of stock to quit, consider hiring a local hall and running an off site sale. Talk to your suppliers about getting extra stock in for this. You could even plan to do this as an annual event. Consider, too, linking with a local charity to drive interest and create a fund raising opportunity for them.

Quitting stock takes strength and commitment. We urge you to do it to keep your business fresh. Product not selling gives shoppers a bad impression of your business.

Take a look at your shop floor and in your back room. Look at what you can get rid of right away to reduce the anchor of dead stock on your business.

This advice, like all our advice, is published to help any retailer make better decisions for their businesses.

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Sunday retail business management tip: small steps matter

We often see small business retailers focus on grand plans, big moves they intend to make to lift their business. Our experience is that many small steps deliver a better result to a retail business and for a lower cost.

Using our retail management software, retailers are able to uncover and nurture small steps to growth in their business.

Every retail business has small steps they can take to drive traffic, achieve a better margin from products, get shoppers purchasing more, reducing wastage, reducing theft and more. Each of these alone done in a step step strategic way will compound on the other and deliver a greater than the sum of the parts benefit to the business.

Beyond its terrific POS software, Tower Systems helps retailers to see what they may be missing, to understand the opportunities for growth through a small steps strategy.

Leveraging our own retail experience and our intimate knowledge of what our software cal do, we can help retailers to lift their businesses through co-operative partnership.

Not all POS software companies are the sale. We’re here to help.

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Good POS software can drive the relevance of your small or independent retail business

Choosing the right POS software for your business can re-energise, refocus and redefine your retail business.

Choosing the wrong software can hold you back.

The challenge for small and independent retailers is: which POS software is the right POS software.

Leading Australian POS software developer Tower Systems is clear that its software is not right for all retail businesses. Indeed, the company focuses on a select group of retail niches, vertical markets as they are called, in which it refines software to specific needs of teach of the markets.

This specialisation sees Tower Systems become deeply involved in and knowledgeable about each of the retail channels in which it serves. It’s deep specialisation results in offering software functions through which specialist niche retailers can reinforce their relevance.

For example, a pet shop using the specialist pet shop software from Tower Systems has pet shop management facilities that are unique and tailored to their needs whereas a generic POS software package only offers generic facilities that are offered to all retailers. These generic facilities are less likely to enable the pet retailer to reinforce their specialisation compared to a general retailer.

Specialist software in retail niches helps specialist retailers embrace their specialisation.

This is the Tower AdvantageTM in action. A suite of specialist tools that are constantly evolving thanks to the engagement of its 2,850+ customers.

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Sunday retail management advice: use your POS software to tell your stories

One way independent retailers can compete with big businesses is by telling stories about products – how to use them, how to care for them, where they come from, who made them, why the products matter.

Using the Tower Systems POS software retailers are able to share these stories in a consistent and professional way – on receipts and other document communications with customers.

This is our management advice for today – use the ability to personalise receipts and other documents for sharing stories with customers – to enhance their experience with what they purchase from you.

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Sunday retail business management advice: use your POS software to cut keystrokes, cut mistakes & save time

Speed is vital at the retail sales counter. Once they have made their product selections, shoppers want fast and accurate service. This is best achieved by using as few keystrokes as possible.

Tower Systems specialises in helping retailers cut keystrokes at the counter.

Every keystroke you cut is a potential mistake eliminated. This is good news for retailers and shoppers.

Following our personal training and engaging with our advice certainly helps retailers streamline the counter, serve more customers in less time and maintain accurate quality data. This helps feed more accurate business decisions offering wins all round.

Good POS software helps retailers cut keystrokes. Excellent training for good software goes further – making it easier for retailers to tap into these terrific benefits.

We urge retailers to take note of keystrokes used in transacting sales and to work hard with their software provider on cutting keystrokes.

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Sunday retail management advice: email campaigns drive shopper engagement

We are seeing more and more evidence of successful use of email campaigns by retailers in driving traffic and sales in their businesses.

Using our POS software, retailers are able to easily harvest shopper email addresses and to use this in targeted marketing based on shopper interest.

being able to select shoppers based on interests and habits allows for more personal communication and our experience is that personal communication sells – especially when initiated by small local businesses to their local comm8unity.

Providing retailers with personal marketing tools which feed into email and other tools is a terrific benefit from our POS software – and another way we are helping retailers grow their businesses.

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Sunday retail management advice: helping retailers embrace collections

mcCollections come in all sorts of shapes and sizes and collectors, too, are a diverse group. Serving the collector is easier for a retailer thanks to the collector management facilities in the Tower Systems POS software.

Retailers selling to collectors are urged to use these tools to leverage collection knowledge and the drip feed release of new collection items.  Tower Systems can help retailers in the collector space be more appealing to collectors.

We have been learning more about collectors in recent weeks as we have visited with a number of importers in the collector space to help build a better interface between them and their retail partners.

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Sunday retail management advice: use QR codes to drive shopper engagement

logo138Tower Systems has developed for small business retailers a FREE cloud based QR code accessible content hosting and shopper interaction platform.

QRKI offers excellent facilities for allowing in-store and out of store access to product videos, instruction files, competition entries and other information sharing and harvesting opportunities.

Free from Tower for any business, QR code is another example of Tower Systems helping small and independent retail businesses to use technology to compete.

We created QRki to help small businesses harness the opportunity of QR codes without needing to invest in software of their own.

We’ve kept the price low to make access affordable. It’s part of our commitment to small businesses and independent retailers.  We’ve also enabled QRki for anyone to use – you don’t need to be a Tower Systems customer.

Developed in Australia but for use from anywhere in the world, QRki is another example of cloud based innovation for small businesses.

Share your feedback at info@qrki.com.au.  You can also speak direct with the owner of Tower Systems, Mark Fletcher, on 0418 321 338 (+61 418 321 338).

We hope your like QRki.

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Sunday retail management advice: unlock cash in your business with smart POS software

Cash is tight in any retail business at any time of the year.

The most significant and immediately accessible hidden cash can be found in dead stock: stock which is not turning, stock you have paid for which is costing retail space and labour.

Test this theory. Use your computer POS software to list items you have in the store which have not sold in three or six months. If you don’t know how to produce the report, ask your software company. Tower Systems can help retailers easily report on stock which is under performing.

You will need to ensure that your computer system has all stock currently in your business detailed to the software – including stock at home and in the back room. No hiding anything – not if you really want to free cash.

  1. Don’t think for too long – quit the dead stock quickly. Free up cash – probably less than you paid but learn from that.
  2. Use your computer to guide you on new stock. Look at your top selling items, departments and categories over which you have 100% control. Use the freed cash to expand in those growth areas.
  3. Put in place professional inventory management standards:
    1. Arrive all new stock into your software.
    2. Scan all sales.
    3. Scan all returns and write offs.
    4. Produce a reorder report from your software for future orders – do not let reps order for you.

If you have dead stock, it’s on you.

If cash is short in your business run the report, understand your dead stock number, act. We’re here to help if you need.

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Sunday retail management advice: track sales by employees and increase sales

Retailers using the Tower POS software and tracking sales by employees are finding that the act of turning on the function of itself drives better sales for the business.

Encouraging competition between employees is at the core of the growth.

Being able to report on all sales by employee empowers business management to have more meaningful conversations with employees and through this to help the business grow.

We have seen retail businesses where managers have not become involved and where employees have delivered growth by comparing their own performance numbers.

It’s a win for the business and encouragement for employees.

This employee tracking facility is a core part of the Tower software. It’s something we commend to every retailer.

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Sunday retail business management tip: have your employees sign up to a theft policy

Tower Systems senior management have been called on by prosecutors in several jurisdictions as expert witnesses in situations of employee theft. This work as well as our investigative work leading up to capture and prosecution has provided us with many insights.

One key insight is that businesses need to be clear with employees from the outset about business policies regarding theft.

Here is our suggested Theft Policy advice retailers should have employees agree to:

  1. Theft, any theft, is a crime against this business, its owners, employees and others who rely on us for their income.
  2. If you discover any evidence or have any suspicion of theft, please report it to the business owner or most senior manager possible immediately. Doing so could save a considerable cost to the business.
  3. We have a zero tolerance policy on theft. All claims will be reported to law enforcement authorities for their investigation.
  4. From time to time we have the business under surveillance in an effort to reduce theft. This may mean that you are photographed or recorded in some other way. By working here you accept this as a condition of employment.
  5. New employees are to provide permission for a police check prior to commencement of employment. Undertaking the police check will be at our discretion.
  6. Cash is never to be left unattended outside the cash drawer or a safe within the business.
  7. Credit and banking card payments are not to be accepted unless the physical card is presented and all required processes are followed for processing these.
  8. Employees caught stealing with irrefutable evidence face immediate dismissal to the extent permitted by local labour laws.
  9. Employees are not permitted to remove inventory from the store without permission.
  10. Employees are not permitted to provide a refund to a customer without appropriate management permission.
  11. Employees are not permitted to complete sales to themselves.
  12. Every dollar stolen from the business by customers and or employees can cost us up to four dollars to recover. This is why vigilance on theft is mission critical for our retail store.

Feel free to copy.

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Sunday retail business management advice: how to quit stock successfully

Quitting stock in any retail store takes discipline. Our advice for retailers is to be deliberately aggressive.

  1. Set a deadline. Two weeks for quitting a product or range of products.
  2. Choose your timing. The best time to quit stock quickly is on your busiest trading days. For many this will be the weekend. Consider structuring your quitting program to run from Thursday through Sunday.
  3. Set your initial price. The discount must be compelling. 50% off. A smaller discount in this marketplace will not get noticed. Think about your discount words: in some areas, HALF PRICE works better than 50% OFF. Sometimes, 2 FOR 1 can be even more effective. A $$ price can work better – for example a dump bin with everything priced at $1. People then don’t have to work anything out.
  4. Move the product to a high traffic location. Display it as a line you are quitting – in a dump bin or in open boxes. This must be in a location away from where the product is usually located. Do not make an attractive display. Consider placing the stock somewhere that people almost stumble over it.
  5. Put up a sign that is either black on white or white on read. Nothing fancy. Even a hand written sign is good. Do not make a complex or attractive sign.
  6. Adjust your price. If sales are not strong enough, go harder with your discount. From 50% off we suggest a drop to a $$ price point. It can be challenging selling something you would have sold for $20.00 at $1 but that $1 is better than getting nothing for the product at all.
  7. Give it away. If the products are not selling, consider giving the stock away to a local charity. Getting it out of your shop for no compensation can be better than it taking space and giving off the wrong message about your business.
  8. Keep track of time. If you decide to be out of the stock within two weeks, stick to that and make it happen with your pricing and placement decisions.
  9. Use the bin. If you can’t sell the item and you can’t give it away, use the bin.
  10. An alternative: If you have a large amount of stock to quit, consider hiring a local hall and running an off site sale. Talk to your suppliers about getting extra stock in for this. You could even plan to do this as an annual event. Consider, too, linking with a local charity to drive interest and create a fund raising opportunity for them.

Quitting stock takes strength and commitment. Do it to keep your business fresh. Product not selling gives shoppers a bad impression of your business.

Take a look at your shop floor and in your back room. Look at what you can get rid of right away to reduce the anchor of dead stock on your business.

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POS software helps small business retailers avoid out of stock

outofstockRetailers using the Tower Systems Point of Sale software are able to rely on on the software to help them avoid out of stock situations.

The POS software alerts the business about looming out of stocks based on sales.

It includes replenishment requirements on reorder reports and provides other reminders and engagements to help retailers ensure that popular items are never out of stock.

This smart engagement by the POS software is another way it helps retail businesses to make more money as a result of their technology investment.

Small business retailers have many demands on their time. Smart POS software saves time by taking case of issues before they become an issue – like ensuring you have continuity of stock.

Tower Systems helps small business retailers.

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Sunday retail business management advice: how to run a fit and healthy business

Retail is tough. Small business retail is tougher. Too often, challenges encountered by small business retailers are of their own doing. Like personal health, our choices impact our situation.

Here is some of our best practice advice for a healthy and prosperous retail business from the perspective of a POS software company.

  1. Scan everything you sell.
  2. Enter into your computer system all stock you receive and all stock you return to suppliers.
  3. Use your software to create orders for replenishment stock.
  4. Balance your registers every day using your software.
  5. Do spot stock takes for popular items to check for theft.
  6. Measure performance by department, category and supplier. Do more of what works and less of what does not work.
  7. Compare your performance this year to last year. Fix what is not working.
  8. Use your software as your eyes and ears. Good POS software has excellent back end reportage to let you see how your staff use the software.
  9. Train your staff to be fit for purpose in using the software.
  10. Focus on many small steps towards success rather than one big step.

We see many retail businesses prospering through smart engagement with the facilities in our POS software.

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Sunday retail business management tip: believe in yourself

Small business retailers often state the point of different their small business offers but took many do not live the point of difference.

Take customer service, for example.

Many small and independent retail business owners I know say that they offer a better and more personal service than big retailers.

Retail shoppers often judge service by ease of doing business, the returns policy and any barriers along the way. Too often, small and independent retailers have barriers that get in the way of their goal of better customer service.  Barriers such as hand written signs about eating in the shop, a notice about a credit card surcharge or an inconsistent returns policy.

If you say your customer service is better than your bigger competitors, live it every day. Believe in yourself by doing what you say.

Small and independent retailers who do this – who carry through with actions the words they pitch about their business – tend to be more successful.

Using our POS software, retailers cash build business processes for all employees to follow, to help drive consistency throughout the business.

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Sunday retail business management tip: demonstrations help drive sales

There is nothing like getting out on the shop floor and modelling, using or playing with products to help drive sales.

High street retail is, after all, tactile.

Retailers competing with online have this over online businesses – the opportunity for tactile engagement.

Our experience working with a variety of retail businesses using our POS software has revealed the wonderful and valuable success that can come from active shop floor engagement with products: from low priced impulse lines in convenience stores to high-end trees in premium garden centres to gilt-edged dinner sets in homewares stores. Engaging with a product and encouraging shoppers to touch and feel products can drive excellent sales results.

This is our retail management tip today – be tactile with products and get your products in the hands of your customers.

You can beat online businesses with an engaged touch and feel approach. The key is to follow this up with purchase. In some situations this is best achieved with an offer. In other situations it is achieved with easy shop-floor selling.

The key for high street retailers is – play to your strength of touch and feel.

Enjoy! 

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Paypal in-store payment option to help retailers attract more shoppers

Our senior management team participated in another briefing with Paypal this week as the roll out of the Tower systems / Paypal payment option integration nears commercial release.

Designed to help small business retailers in Australia to tap into new customer opportunities, this link is another valuable benefit being delivered by Tower Systems for its retail partners.

Being first to market intensifies the work involved but it also provides a platform from which to demonstrate true leadership. Tower Systems is grateful for this opportunity and for the support from Paypal on this project.

We will announce sign-up details shortly.

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Sunday small business retail management advice: be daring!

Small and independent retail businesses are often run along on conservative lines from what we see. While some embrace change, they do so within a conservative perspective, not resulting in extraordinary change.

Recently, we have been working with a retail business where they embrace the crazy. This is our retail business management suggestion today: make the change to your business that you say you should not make because it is so crazy, so left-field, so out of character.

The change does to need to be huge. In fact, for your first out of character change it should be something you can retreat from if necessary. make the change and measure the results – this is where our POS software helps.

Our experiences is that retail businesses that stand still are more likely to become targets for others taking sales from them. 

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Sunday small business retail management advice: be ready for EOFY

The End of the Financial Year (EOFY) is when many businesses do housekeeping such as stock takes, clearing out junk and resetting the business. Here is our recommended EOFY checklist:

  1. Do a stock take.
  2. Sell off stock that has not moved in six months.
  3. Audit your computer system data to ensure you are using the software well.
  4. Check margins to ensure you are earning the most from each product.
  5. Reset reorder triggers.
  6. Refresh your employee training so that they make the best use of your POS software.
  7. Step bak and look at your business as see opportunities for change in the new financial year.

Tower Systems is already helping early adopter retailers with many of these tasks as they started planning for EOFY weeks ago. Our online training workshops are filling up, our free one on one training opportunities are being embraced, our knowledge base advice on EOFY is popular. We are thrilled to see retailer engagement so early.

Big retail businesses make a lot of noise this time of the year for their stock take sales. Small and independent retailers could benefit from getting in early – ahead of the others.

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New cloud-based small business roster platform wins praise

The new cloud-based roster software developed by Tower Systems for small business retailers and others is attracting excellent feedback from a select group of beta test sites. We are thrilled with the feedback and support from colleagues working on this project with us.

The result is an excellent cloud-based roster solution that is easy to use yet deep in functionality for small through to mid-size businesses.

Retailers and other businesses will be able to use this using a low-cost subscription model that provides access to the platform as well as to email and text message communication to employees on rosters.

This is a very leading edge solution we are proud to be bringing to the market.

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Australian POS software that focuses on profit

Our core focus as a POS software company is to create software and provide services that help our retail partners improve the profit of their businesses.

Without profit, any business is dead. This is especially true in small and independent retail businesses where the hours can be long and the challenges considerable. Profit is the marker of success, the pay off if you will.

Small and independent retail business owners need to focus on profit. Our software helps them do this through smart reports, helpful guidance tools and in other ways. We help them drive gross profit per item sold, cut the labour cost of every dollar of sales revenue and guide their decisions based on facts rather than feelings.

Any POS software can transact sales and tell you what you did, who did it and when … smart POS software will tell you this and offer insights beyond these simple measures. It will guide a business to make more money. This is what makes a retail business more valuable. It helps the owner get a better price when they sell the business. It makes the business more appealing to a lender.

While some retail business owners look at a POS software purchase decision as a technical decision, the reality is that it is a business management decision. It is best to approach it as you would selecting a new partner for your business.

Software companies that are accessible to you, that offer live in-store training, that understand your unique business and that engage with you in a non technical way … these are the software companies more likely to be of use to you as you seek to make your retail business more profitable.

Tower Systems serves close to 3,000 small and independent retailers in Australia.

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Sunday retail management advice: POS software discount voucher shopper loyalty program drives sales

xxnaf99The data is in and the discount vouchers loyalty facilities in our Point of Sale software drive sales across retail channels.

When you see same store year on year growth of ten percent and more with the only change of significance being the introduction of discount vouchers the impact of the program is obvious.

While some retailers are having success with the old points-based loyalty program, some who have switched from that to discount vouchers are surprised at the almost immediate lift in sales as a result – indicating that shoppers were fatigued with the old approach to loyalty.

We think shoppers like an immediate reward and that’s what discount vouchers provide – the ability to tap into immediate savings by spending more right away and beyond what the shopper probably visited the business to spend.

The greater the basket value the greater the discount voucher opportunity. In one example recently in a garden central, a shopper spend just over $100.00 and received a voucher offer ing a $10.00 discount on their next purchase. They then bought an item priced at $175.00. This shopper was not a regular and unlikely to return. Sio, the business more than doubled the value of its sales to this shopper and the only cost was $10.00 gross and around $5.00 net - a low cost for valuable and satisfying engagement.

Our management tip for retailers today is to engage in a loyalty offering that is valuable for your customers. In the cases we have been seeing recently, discount vouchers is the right offer in a range of circumstances. Indeed, we have see it help businesses out-perform other loyalty programs / offers.

This is an easy marketing opportunity with which to engage – driving excellent outcomes. As it forms part of the base tower Systems software there is no capital or other cost in getting up and running.

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POS software helps independent retailers up-sell

kidssandOur Tower Systems Point of Sale software prompts retail associates when a customer has an opportunity for a better deal. Pitched well to shoppers this can help increase a shopper’s spend in a visit.

An example of this is on show in Australia in the current school holidays. Smart newsagents are selling kinetic sand – in three sizes. The bigger the size the better the value per kilo. Prompting the retail associate with this information during the sale can help them give the customer information that could lead to a larger purchase.

The prompt makes the associate more knowledgable and it facilitates an opportunity that customers could appreciate.

While any POS software can transact a sale, it takes smart POS software to help a retail business maximise every customer contact opportunity.

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