Entries Tagged 'Retail Advice' ↓

POS software helps independent retailers up-sell

By Mark on April 19, 2014 6:46 AM

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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And so starts a crazy two weeks in retail

By Mark on April 14, 2014 6:45 AM

This week is a short week for many with Easter covering Friday through Monday and then at the end of next week is Anzac Day. It’s not often that we have so many holidays so close to each other at this time of the year so it will be interesting for retailers, challenging too depending on their situation.

It’s at a time like this that retailers are likely to see shoppers who are not regulars. This is where our immediate loyalty engagement tools can be useful to grow spend per shop rather than focussing on the longer term shopper.

One of the beauties of our immediate loyalty engagement tools is that they can be turned off and on at will. For example, a retailer could fire up the brilliant and much-loved discount vouchers for these two weeks targeting infrequent shoppers with a goal of increasing spend per visit.

Sometimes we need to look at the tools we have at our disposal differently. Our discount vouchers facilities can be used in a range of different ways to drive good outcomes for our retail partners.

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Sunday small business retail management advice: make sure you have the right friends with whom to discuss business

By Mark on April 13, 2014 7:39 AM

Who do you talk to about your retail business? Are the sympathetic? Do they challenge your perception of your business? Do they agree with everything you say? Do they offer pity as a response for you explaining your situation?

Good friends will challenge what you say. They will ask tough questions. They will not put up with a victim mentality. They will want to know what you are doing to improve your situation.

If your friends don’t challenge you when you talk about your business consider seeking out others you can talk to who do challenge you.

Owning a business of any size can be tough and lonely. In the business it is rare you will be challenged. In your immediately family, too often, you will not be challenged. This is why you need to seek out those who could and will challenge you. You need to be challenged. Your plans need to be tested through tough questioning.  While some good friend will do this for you many will not.

So, do you need to change your friends?

Seek out people who will give you truthful assessment of what you say, people who will have an opinion and be unafraid to share it. You want people who will actively listen to you and give you their insights.

Seek out people who will want the same from you.  The ideal friendship is one that is equal, open and honest in conversation.  This is what retail business owners need – people who can help them see what they may not be seeing for themselves.

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Sunday small business retail management advice: become a matchmaker and sell more

By Mark on March 9, 2014 6:57 AM

Matchmaker TV shows can be cringe-worthy and fun as contestants and hosts look at interests and other attributes to bring people together and make romantic connections. While they are made for TV, the process of taking two separate people and finding a connection is fascinating to watch.

Smart retailers do this well … making a connection between two products.

Smart retailers have good tools that help them in matchmaking. By analysing basket data and looking deep in the sales history of the business, you can find products that your customers purchase together and this provides an evidentiary basis for your shop floor matchmaking.

Oftentimes it is unusual matches, matches you would not expect, that work well together. Customers will show you these in your own sales history.

This is why having access to good data and cultivating and trawling this for opportunities is vital for your business. Knowing what sells with what helps you place products together and drive more sales. In Point of Sale software from Tower Systems you have a range opportunities for this reporting.

become a matchmaker in your retail business and sell two or more items in a sale when you might have in the past only sold one.

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Sunday small business retail management advice: use your POS data to negotiate your rent

By Mark on March 2, 2014 7:30 AM

Good POS software can be useful in a rent negotiation as it can provide irrefutable evidence necessary in discussions with your landlord about rent as a percentage of sales, percentage of gross profit and rent in the context of footfall.

Being able to slice and dice retail business data using our POS software can empower retailers with valuable data with which they can make better business decisions and through which they can navigate to a better rent outcome.

Here at Tower Systems we leverage our own experience owning and operating retail businesses and using our own POS software to help retailers negotiate rent deals. Beyond the Point of Sale software we can provide understanding and assistance to our retail partners. But it all starts with good business data. landlords cannot challenge accurate business data and often the data we can provide access to is more accurate than any data the landlord may have since we get to the source.

If you are a small business retailer and feel challenged by the rent you are paying our advice is to leverage your POS data to make a case to the landlord for more equitable retail rent terms. A good POS software company will help.

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Helping small business retailers save money on EFTPOS fees & time at the sales counter

By Mark on March 1, 2014 9:46 AM

As a POS software company working with close to 3,000 retailers, we have experience dealing with all the major banks when it comes to EFTPOS and offering EFTPOS solutions at the retail sales counter.

In our software today we have EFTPOS processing links to a range of third parties as well as direct to banks.

It is our experience that retailers linking to Tyro broadband EFTPOS experience faster processing, fewer operational problems, easier setup and better customer service than any other EFTPOS connection. This is why we recommend Tyro to our small business retail customers.

Thanks to excellent assistance and communication from and with the team at Tyro, we are able to triage any operational issue and usually resolve it immediately. This provides our retail business customers with a one stop shop. This is far better than having to navigate a third party who then has to navigate your bank’s support service. In that scenario it could take days to resolve an issue. Thanks to the Tyro approach, the few problems reported are resolved quickly.

Choosing the right EFTPOS solution is important for small and independent retail businesses. It’s what happens at the counter that matters the most. Fast and accurate processing are the most important goals followed by easy setup.

Major banks tend to lock retailers into long term contracts that have a breakage cost. This can lock small business retailers into poor service and higher than necessary fees. Thanks to Tyro we are able to deliver to small and independent retail businesses a more cost effective solution. Tyro helps newsagents ensure that the solution is right for them without the need for a long term contract.

Our advice to retailers considering EFTPOS is – buyer beware. That big bank that says it has a great deal is a big bank – when was the last time a big bank put the needs of small retailers ahead of their appetite for profit.

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Sunday small business retail management advice: manage theft!

By Mark on February 23, 2014 6:55 AM

Employee theft and customer theft, like any activity in a retail business, require management. Not encouragement! … management. It starts with tracking, understanding what is being stolen, how often and when. Whether it is cash or products or services, tracking theft is the first step to reducing the cost of theft.

Retailers using the Tower Systems Point of Sale software have excellent tools for tracking and managing theft. Some of these tools are obvious and others are hidden for security reasons.

Through advice sheets, training videos, live training and other access points we help retailers understand their theft management options – all with the goal of reducing the cost of theft to the retail business.

This is another commercial benefit for retailers using our POS software. Retailers who do not use our theft management tools are more open to theft costing more in their business.

 

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The receipt is an important document and marketing tool in retail

By Mark on February 21, 2014 7:37 AM

wincarrecpTower Systems is helping small business newsagents leverage their receipts to engage with a high profile competition being run by Pacific Magazines – offering further support to our position that the receipt is a vitally important business development and marketing tool.

Beyond detailing what was purchased, a good receipt can get a shopper back sooner, it can get them spending more right away and it can make them feel even better about shopping with the business.

The key to leveraging the retail receipt for maximum value to a retail business is the relevance of what is on the receipt. It is important that any pitch or promotion is relevant to this customer at this time. This is where Point of Sale software can help.

Our experience is that retail businesses that use the receipt as a marketing tool are more likely to be growing and achieving a deeper basket with existing customers. For next to no cost they are embracing another customer touch-point. Enough customers respond to make it valuable.

In the two examples you can see a WIN A CAR promotion being pitched on the receipts. The receipt on the right includes a QR code for rapid shopper engagement. By helping our retail newsagency customers serve these coupons we are helping them connect with a major supplier initiative quickly, easily and professionally.

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Learning retail insights from Monash University experts

By Mark on February 20, 2014 10:16 AM

We are benefiting from a briefing into the latest retail experts delivered today by experts from the Monach University Australian Centre for Retail Studies.  ARCS is a leader in their field:

ACRS is an independent retail and consumer research centre based within the Department of Marketing in the Faculty of Business and Economics at Monash University, Caulfield Campus. The ACRS provides a range of research and consulting services to the private sector and government clients, with a particular emphasis on retail and consumer research. Research priorities are developed in consultation with industry clients and promote research-based knowledge and thought leadership.

Participation in today’s briefing was organised through an appreciated supplier relationship.

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Taking pride in POS software labels

By Mark on February 11, 2014 6:28 AM

pos-labelsThe options we offer in labels produced by our Point of Sale software are considerable and have been for many years. In addition to supporting laser labels and single strip labels, we also offer our customers tremendous flexibility in label design – and have done for many years.

Our labels  reflect a quality and professionalism customers love. They are customer friendly – easy to read. Too often labels produced by POS software are hard for the human eye to read, they are feint and for tech solution than retail solution.

Thanks to the label options offered from the Tower software retailers can produce labels they want on stock they want – punch what matters most to retailers and their customers.

Professional labels can help retail businesses grow sales and reduce theft.

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Exclusive Gift shop & newsagency POS software opportunity at Reed Melbourne Gift Fair

By Mark on February 4, 2014 7:20 AM

We are had a terrific time at the Reed Melbourne Gift Fair over the last few days. As the only gift / newsagency specialist software company at the trade show, it’s been a wonderful opportunity talking with the many newsagency and many gift shop owners walking the floor of the busy trade show.

We have also enjoyed the opportunity of connecting with more suppliers in the gift space, helping them to embrace technology for more efficient and certain training with their retail customers.

In addition to new customers for our POS software and new suppliers to connect with, the fair was an excellent opportunity for us to check the state of the newsagency and gift shop retail channels, to hear what retailers plan for 2014 and to assess for ourselves how these channels will fare this year. The insights gained help us better serve the channels ourselves.

Standing on the floor of the trade show talking to many business owners as they stop and others as they pass by we tap into valuable feedback.  We can also explore some developments we are close to launching – getting insights before we go to market. This is invaluable. A good trade show is like a focus group on steroids for an engaged software company. We love it.

As the first trade show for 2014, the Melbourne fair is important to provide early indications and for that we are grateful.

Commercially, this has been a very successful trade show for us and we appreciate the opportunity to have been here. Over the next few weeks we will be banking the results.

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Helping small business retailers enjoy their businesses more

By Mark on February 3, 2014 6:43 AM

receiptsnotesRunning a retail business is hard work in today’s retail environment. It is especially challenging for small business independent retailers. Beyond the challenges of landlord, employee, supplier and general economic issues and challenges, there is the overall motivation to be on every day, often seven days a week.

While we are a POS software company, the relationship we have with our customers is one that looks at the whole of the business. We embrace opportunities to help our customers enjoy their business more. From helpful POS software support to providing encouragement on ways to manage the business with less stress, we genuinely partner with our small business retailer customers.

Retailers can enjoy their business more by bringing more structure to what they do. The more structure the more business tasks that can be undertaken by others in the business. This helps improve certainty and it helps share the load. This can make life more enjoyable for owners and more fulfilling for retail employees.

In the Tower Systems POS software retailers can systemise / structure processes around product ordering, pricing, range reviews, rostering, selling, Lay-Bys, discounting and other business processes from the day to day through to the bigger picture tasks. we can offer our customers exampled of how to do this and through this work how to find more enjoyment in owning and operating the business.

One of the biggest stressors for retailers is that they feel alone. Through our work with retailers and the assistance services we offer we try and help them feel less alone, we try and show them practical support for the day to day and the big picture business planning and management.

We love this part of our work – the broad extent to which we can engage with our retail partners. It’s fun and rewarding. We’re grateful for the opportunity.

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Sunday small business retailer management advice: manage theft

By Mark on January 26, 2014 6:21 AM

Employee theft can kill a retail business. Smart POS software provides tools for theft tracking and theft management. Ours does. Retailers who use theft management tools are more likely to reduce the impact of theft on their business. Theft like any business cost needs management.

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Ways small business retailers can refresh their view of their business

By Mark on January 25, 2014 6:44 AM

WARNING: This blog post has some crazy ideas you’d not expect from a POS software company.

In our work with small business retailers we often hear about burnout, retailers being tired and over the grind of opening the shop working all day, closing, getting little sleep and doing it all again. They are often too tired to be innovative in their approach to business.

Call us crazy but we have some ideas designed to help small business retailers reconnect with their businesses. They are unconventional. They are free. They are fun. They are designed to get you looking, hearing and smelling your business differently. They are designed to open your eyes to opportunities you may be missing.

Are you ready? Here are our unconventional ideas for refreshing your views of your small retail business – in the hope that you find opportunities you were not seeing.

  1. Go to your shop at night time. Leave the lights off. Put a chair on the middle of the shop floor. Sit down. Take your shoes and socks or stockings off. Put a blindfold on. Soak it up. What do you smell? What do you hear? Is there any sense of place that you get from being there.  Be still for fifteen minutes or so thinking about this. Breathe deeply. How does your shop smell? Does it have a smell? If not, why not? Then take the blindfold off and look around you for another fifteen minutes. Finally, get up – with your shoes and socks or stockings still off – and walk around the shop. Take in the environment you are in control of. Let the ideas flow. If you want to take it to a deeper level, lie down on the floor on your back and look up and around – kind of up-skirt your own shop while it’s empty!
  2. Get a stool or fold up chair, pack a lunch and spend at least three lunchtimes in a week sitting opposite the entrance to your shop watching customers. Don’t write anything down, just watch. Preferably do this without people noticing you. Wear a disguise if necessary. Watch intently. See where people go, what they pick up, what they buy if possible. Try and predict what they will do. Watch and think. Watch and think.
  3. Get a small desk and a sign for the desk that says CUSTOMER SERVICE. Place the desk near the front door of your shop. Set yourself up at the desk, sitting behind it. Dress formally, old school. Like in a 1950s movie preferably. Sit up straight. Look the part. Sit and wait and see what comes your way. Have fun interactive with customers. The desk should look out of place but it should also look fun. The idea is that your customers, your staff and you will be a bit shaken up by the change. See what comes your way.

We have more crazy ideas. These barely scratch the surface of the crazy idea cupboard. Just ask.

We’re here to help small business retailers create and run successful independent small local retail businesses. Our help goes beyond our software. Were retailers too and love being able to talk retail with anyone.

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Sunday small business retailer management advice: create a THEFT POLICY for your shop

By Mark on January 12, 2014 6:23 AM

A theft policy is vital for every retail business. here is advice from Tower Systems on what should be in a theft policy. We first provided this to our customers years ago and have recently finessed it based on experiences helping retailers to address theft challenges.

We suggest putting this on a notice board in a common area for employees to read and sign:

THEFT POLICY OF THIS BUSINESS

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.

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.

PLEASE SIGN AND DATE YOUR ACKNOWLEDGEMENT OF THIS POLICY:

Beyond excellent Point of Sale software, Tower Systems helps retailers with practical advice on how to improve their business as well as how to mitigate against expensive business challenges such as employee theft.

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Post Christmas retail sales strong

By Mark on December 28, 2013 7:52 AM

Post Christmas / Boxing Day sales have been excellent according to some of the retailers in our Point of Sale software user community over the last couple of days. Several we have spoken with indicate sales are up close to 10% on last year. This result is even better given that it is on the back of an excellent Christmas result with those sales up close to 10% as well.

Sometimes we see post Christmas sales down when pre Christmas sales are up and vice versa. This year we are seeing people growing in both situations, indicating a more general upturn being experienced by these businesses.

Sporrting trends early is vital in retail as you are then able to respond more appropriately. You don’t want to be in a situation where you you spot a trend long after it first occurred as that could mean you have missed opportunities.

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Pitching savings an important use of the retail shopper receipt

By Mark on December 27, 2013 7:44 AM

rcptdiscWe encourage retailers to use their receipt as an extension of their marketing activity. An excellent example of this is when a business sells products for lower than their recommended retail. The saving is listed on the receipt – reminding the shopper of how much they saved by shopping in the business.

While some customers don’t give receipts a second look, others do read them once they return home. The discount off RRP is a terrific message for this shopper. It’s an invitation for them to consider the business again.

Even the smallest steps are important in cultivating your connection with customers. Our experience in our own retail businesses is that receipts can drive sales.

Through training videos, our online knowledge base and live support we can help our POS software customers to make better use of their receipts and through this make more money.

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Surge in employee theft in retail businesses

By Mark on December 24, 2013 6:23 AM

With Christmas retail activity in high gear it is no surprise that there has been a surge in reports of employee theft. We have received several over the weekend and yesterday. Each report is taken through a proven process we have stablished for gathering and verifying evidence and considering an appropriate course of action.

In one case we stepped in for the retailer, at their request, and terminated employment of one staff member and laid out a framework for money being returned to the business.

While the vast majority of retail employees are honest, there are some who steal from their employer.   Here is our advice for retail business owners for cutting the cost of theft by retail employees:

  1. Change the passwords that provide access to the most sensitive data right away and do not given them to anyone unless absolutely necessary.
  2. Change the roster, shake things up.
  3. Remove all handbags, phones and personal items from the counter.
  4. Get employees out of any non-uniform clothing with pockets.
  5. Implement random end of shift cash balancing several times in the day unannounced.
  6. Use employee cards for tracking sales by employees – these are better than a three code employee code.
  7. Stop employees ringing their own purchases up.

Treat your business as you would a large bundle of $100 notes. The more serious you are about managing your cash the more of it that will make its way to your bank account.

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Sunday small business retailer management advice: spot trends relevant to your retail business sooner

By Mark on December 22, 2013 6:29 AM

Too often we see small business retailers wondering about retail trends they have read in newspapers or seen covered on TV. Trends reported publicly are most likely too late for your business if they are reported in these places.

The most valuable trends small business retailers can spot are those indicated in their own business data.

If you are not sure about what trends you could see in your data, talk to your POS software company. At Tower Systems we take your data, analyse business performance, compare trading periods and let you know the trends as we see them. This is a free service.

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Helping retailers reduce the risk of fraud

By Mark on December 18, 2013 7:04 AM

Tower Systems has shared fresh advice with retailers this week on how to reduce the impact of shopper and customer fraud in their businesses. With Christmas being fraud season in some retail channels the advice is timely and has been well received.

This latest advice is based on recent experiences in several retail businesses.

Our Point of Sale software has excellent fraud mitigation facilities that retailers can use themselves to reduce fraud and detect fraud. These continue to evolve based on field experience and feedback from fraud prevention experts.

Our work as expert witnesses in theft cases and work with police on investigations continues to inform our moves in this space.

Retailers properly using our software and following our advice can reduce the impact of fraud in their businesses. 

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End of Shift resources highlight value of searchable POS software knowledge base

By Mark on December 4, 2013 6:30 AM

eosHere at Tower Systems we provide advice beyond how to use our POS software, we explain retail management processes and guide our software users to make better use of the software so as to avoid mistakes and to catch misbehaviour. This business operational advice is tagged and keyword-stored in a way that our customers can easily search using the powerful yet easy to use search tools in the new knowledge base tools released more than two weeks ago.

A good example of our practical help to retailers in in the advice, training and other assistance around End of Shift processing. Using our software to manage the EOS process retailers are able to more accurately handle the work and more accurately track cash and other methods of payment.

The information, advice and training our customers can access through our knowledge base for handling the EOS process is extensive. That this is part of a searchable resource is excellent. Customers are loving it.

 

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Sunday small business retailer management advice: use your receipt as your most important retail marketing tool

By Mark on December 1, 2013 6:57 AM

The receipt is the most important yet undervalued marketing tool in and retail business. Retailers partnering with our Point of Sale software have excellent opportunities with which to leverage receipts:

  • Include your logo to professionally represent your business.
  • Include care instructions for products you sell that require care instructions.
  • List your website.
  • Include a discount voucher based on the value of the purchase to entice the customer to spend more money with you.

These are just four ways retailers partnering with Tower Systems can use their receipts to professionally promote the business and drive extra revenue. these steps are free and simple to implement in any retail business. They can help a business better connect with customers who today may have little connection with the business.

These ideas help a small independent retail business to present themselves as being more substantial than they are and thereby competitive with major retailers.

Consider your receipt as a marketing tool.

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Sunday small business retailer management advice: leverage your top sellers

By Mark on November 10, 2013 7:00 AM

Using our 10 x 10 Report, retailers using our POS software are able to easily report on top selling items and what is selling with those top selling items. Typically, people report on the top 10 items sold with the top 10 items – hence the name.

Using data from this tremendous report you can see opportunities for product adjacencies to get a deeper basket form the top selling items. This can be more money in your pocket as a result.  We have seen many retailers using 10 x 10 Report the to drive basket depth since knowing the top selling items in a retail business can tell you where to focus your attention to get the maximum eyeball attention to other items.

The 10 x 10 Report enables easy tracking of top sellers and the items that work best with them. If, for example, top selling items with your top selling item are located some distance away you could possible boost sales with better location.

The 10 x 10 Report  is another example of a return developed by retailers for retailers. It’s a powerful report in our excellent reporting suite.

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Sunday small business retailer management advice: switching POS software to save money can also save the business

By Mark on October 27, 2013 7:39 AM

A business switching from other POS software to our software to save on very high and mandatory software support fees has discovered, in the months since, information about their business that the other software did not disclose. They have four our reports to be valuable in guiding business decisions by providing insights that were not obvious to them.

Switching POS software can do far more for a business than save money. Genuinely smart POS software backed by accessible and knowledgable support people can help small and independent retailers to see their business through fresh eyes. This can be a game-changer for the businesses, delivering business defining decisions that strengthen its future.

With the number of businesses that have switched from this software to ours so high, we have an excellent pool of reference sights that support the commercial value of the switch.

Our retail business management advice today: switch POS software and possibly save your business.

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Hundreds of retailers now using discount vouchers

By Mark on October 24, 2013 7:46 AM

We now have hundreds of retailers from our POS software community using our EXCLUSIVE discount vouchers facilities. The feedback is excellent with retailers telling us they love the ease of use and professionalism but most of all they love the sales growth.

There is no doubt that the discount vouchers facilities increase sales across a range of retail sectors based on the feedback we have received.  Jewellers, newsagents, garden centres, bike retailers … they are all able to drive shopper engagement through the vouchers printed on the base of receipts.

From a Tower perspective we have successfully used the discount vouchers to win business for us. In a situation recently a retailer told us a competitor offered the same facility. We suggested the retailer look at this and then at what we do. They decided to go ahead with us. Our discount vouchers implementation is unique to Tower Systems. While others may use the same descriptive label, what they have is not what we have.

Retailers who partner with Tower Systems have tremendous management control over how vouchers are issued and redeemed. This control can be money in the bank as the retailer tweaks levers and through this guides shopper engagement. This is what a good loyalty system does – it drives financial rewards for the retail business.

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