We love looking at inspiring retail and Pop Canberra is just that. See why:
Labour and Wait is a wonderful shop to visit. Inspiring. A fresh take on homewares. Excellent and knowledgable customer service. Here’s a video we made about the visit:
The major supermarkets, several other retailers and non-retail businesses are spending big pitching their loyalty programs already this year.
Their pitches tend to cast their loyalty program as key to unlocking value for shoppers. Value in this context should read as lower prices.
We think their increased focus on loyalty is their response to inflation and consumer sentiment associated with this.
Shoppers are concerned about prices, especially in must-purchase settings. From data we see, with want purchases, discretionary purchases, price is less of a concern.
We have found the best way to pitch value is through an easily understood loyalty program that does not compare to the poor-value over-hyped programs from the supermarkets and similar.
Seriously, what is a loyalty point worth anyway?
Each voucher has a dollar value. People understand $$ more than %.
On average, 19% of vouchers are returned and of those returned, a third are redeemed the day of, a third within 7 days and the last third within 28 days.
Guys are more likely to redeem right away whereas girls are more likely to redeem a week or more later.
In settings where shoppers don’t want the vouchers, there is an opportunity for a local charity connection, which extends the reach of the discount vouchers, better connects the business to a local charity and helps leverage that charity’s community to support you.
My advice, if you’re interested, is to take note that the major retailers are pitching loyalty more this year already. Consider what you can do in your business to engage with shopper interest in value.
We can help if you are interested.
Find out more:
- 1300 662 957
Thanks for reading.
We serve local specialty retailers across a range of product channels and are grateful to serve beyond our POS software, with retail advice and inspiration – to help local small business retailers compete and enjoy their businesses more. This is where local value can be nurtured and shared.
Tower Systems was created many years ago to serve small business retailers and we happily remain focused on that mission today.
We love small business retail for the people, their passion and the contributions they make to the communities in which they are situated.
Indeed, it is the contribution that local businesses make to their local communities that matters to us. We see it in many ways from supporting local community groups to local education, offering locally products unavailable elsewhere and offering places for local, makers to sell their wares.
While our Point of Sale software can be used by retail businesses of any size, it is in the small business retailer community where we are most comfortable.
So, why do we like small business retailers?
This is a question we confronted recently in an interview about our history.
Small business retailers play a vital economic role, often punching above their weight in terms of economic contribution.
Small business retailers play an important social role locally, holding, sharing and even adding to the narrative of communities around the world as well as providing practical support for community based endeavours.
Small business retailers help local shoppers with a level of personal service which leads to better buying decisions.
We like these points, especially that small businesses and small business retailers in particular are more like to uphold and carry forward local customs, beliefs and stories. Small businesses support the local voice. This is why small businesses are important in countries like Australia and New Zealand.
So, yes, we enjoy serving small businesses and remaining modest in size ourselves. This is where we think we can actively contribute and do the most good.
The value of a business is not only about financial performance. Its contribution to community is, in our view, equally if, not more, important.
Local small retail businesses rock! We are grateful to serve so many 0of them.
We love getting to see innovative retail, retail playing outside what is traditional. Whalebone in New York is one such store, and we got to visit a few days ago.
This pet shop in suburban Los Angeles was a delight to visit earlier this year.
As part of a recent retail tour with retailers using our POS software we got to see the new Harry Potter flagship store in New York.
Do you find yourself constantly wondering what your competitors are doing? Are you always worried about what they might be planning next? If so, you’re not alone. Many business owners let their competitors occupy too much space in their heads. This can lead to a lot of wasted time and energy. In this blog post, we will discuss some tips that can help you get ahead of the competition and stay focused on your own business goals.
First, the most important focus for any local small business retailer is their business for it is only this over which you have control. It’s like the serenity prayer, sort of – control what you can control and worry less about that over which you have no control.
You can’t control your competitors. Who cares if they copy you, or offer something cheaper than you, or claim some unique thing? Who cares?
Control what you can control.
Second, it’s important to remember that your competitors are not your only focus. You should also be thinking about your customers and what they need and want. If you’re always worrying about what your competitors are doing, you’ll lose sight of what’s important. Keep your customer’s needs at the forefront of your mind, and you’ll be more likely to succeed.
Third, try to stay ahead of the competition by being proactive. rather than reactive. This means that you should be constantly innovating and looking for new ways to improve your business. Don’t wait for your competitors to make a move before you do something yourself. By being proactive, you can stay one step ahead of them at all times.
Finally, don’t let your competitors rent free space in your head. If you’re always thinking about them, you’re not focusing on your own business. Instead, focus on what you need to do to be successful. Keep your eye on the prize, and don’t let anything or anyone distract you from your goals.
If you can follow these tips, you’ll be well on your way to getting ahead of the competition. Just remember to keep your customer’s needs in mind, be proactive, and stay focused on your own goals. With a little hard work and dedication, you’ll be sure to succeed!
Doing regular check-ins with yourself will help ensure that competitors are not taking up too much space in your headspace. Checking-in allows you to recenter yourself and your business goals. It can be as simple as taking a few deep breaths, drinking some water, or going for a walk. Checking in with yourself will help ensure that you are staying focused on what’s important.
We hope that these tips have helped you and that you feel more prepared to get ahead of the competition. Just remember to keep your customer’s needs in mind, be proactive, stay focused on your own goals, and do regular check-ins with yourself. With a little hard work and dedication, you’ll be sure to succeed! Thanks for reading!
As part of a recent tour of innovative and inspiring retail in the US, we were invited into the secret room at Shinola, Venice beach …