3 things any retailer can do to compound profit.
Individually, these strategies work. Done together, the profit value compounds.
- Chase new customers. Serving the same customers is likely to give you the same results. Every day, do something to attract new customers through: a brilliant and different window display, engaging social media posts, a community group connection, a club member fundraiser.
- Maximise gross profit percentage. Buy at the best price you can. Be engaged in how you price what you sell. Every cent matters. Rounding up to .99 is a good start. Pricing based on the value you offer is more important than trying to compete with the cheapest. You’re worth it.
- Drive a deeper basket. Be smart about what you place where in the shop in pursuit of people buying more. At you’re counter and at the busiest points in the shop, make adding things to the purchase easy. Look at what people buy with what and use that to guide product placement. Use smart loyalty tools to disrupt shopper behaviour.
Our Aussie made and supported POS software can help with these three strategies, and more. We help our 3,000+ local retail customers run more successful, enjoyable and valuable businesses.
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1300 662 957
Tower Systems is not your usual POS software company. We own and run retail businesses where our software is used to maximise value. When we suggest ideas and opportunities too our POS software customers, we have tried them ourselves. We walk in the shoes of our customers in a way that is rare in POS software businesses.
This matters in local small business retail as practical advice matters more than theory. It’s kind of like show, don’t tell. We show how our software works in our diverse portfolio of retail businesses and have done now for more than 26 continuous years. Like we said, we are not your usual POS software company.
In addition to advice and support in how to use our POS software, we provide insights based on customer data for those customers keen for this. Our business analysis and advice services are all part of what we offer here at Tower Systems.