The POS Software Blog

The POS Software Blog

News from Tower Systems about locally made POS software for specialty local retailers.

CategoryToy shop software

MELBOURNE RETAILERS EMBRACE POS SOFTWARE USER MEETING

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IMG_7450We were thrilled with the participation at our first Melbourne retailer POS software user meeting yesterday. This was day three of a tour that will cover every state and territory, capital cities and major regional centres, offering free training, small business retailer networking and open-ended Q&A sessions.

Every session is different thanks to the mix of attendees. We are loving it.

TOWER SYSTEMS PROMOTING TOY SHOP SOFTWARE AT TOY FAIR IN MELBOURNE

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Tower Systems is thrilled to be preparing to participate in the Toy Fair in Melbourne later this month. A the only software company at this event, our Toy Shop Software is set to be seen by many toy retailers as they connect with opportunities for business growth and efficiency.

In addition to showing off new software, we will be demonstrating practical business tools small and independent toy retailers can rely on to improve their businesses.

With many retailers in the toy spare already partnering with Tower Systems, we have excellent success stories to share as well as supplier relationships to leverage. It is this multi-layered commitment that toy retailers love. Indeed, our work with suppliers is key to helping toy retailers leverage more value than they expect from their Tower Systems Toy Shop Software.

INVITING SMALL BUSINESS RETAILERS TO POS SOFTWARE USER MEETINGS

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The best way to assess a POS software company is to see first-hand how they interact with their customers.

Starting next week, Tower System is hosting its first round of free face to face retail business user meetings for users of its POS software.

We invite you to attend – without obligation or cost – to check us out. CLICK HERE TO BOOK.

Come and see how we work with small business retailers from a  range of channels to help them drive more value from their technology investment. At these sessions we will talk about shopper loyalty, business intelligence reporting. webcore integration and retail trends we have seen overseas.

Launceston User Meeting
Date: 07/03/2016   Time: 8:00am
Venue: Quality Hotel Colonial Launceston
Address: 31 Elizabeth St Launceston TAS 7250
Breakfast: Coffee, Tea and Egg & Bacon Muffins on arrival
Parking: Limited Free onsite parking

Hobart User Meeting
Date: 08/03/2016   Time: 8:00am
Venue: Hotel Grand Chancellor
Address: 1 Davey St Hobart Hobart TAS 7000
Breakfast: Tea, Coffee and Swiss cheese and ham croissants on arrival

Melbourne User Meeting
Date: 09/03/2016  Time: 8:00am – 11:00am
Venue: Hawthorn Art Centre, Mayor’s Room
Address: 360 Burwood Rd Hawthorn VIC 3122
Breakfast: Tea, Coffee and mini tomato and cheese croissants on arrival

Brisbane User Meeting
Date: 10/03/2016  Time: 8:00am – 11:00am
Venue: Quality Inn Airport Heritage
Address: 620 Kingsford Smith Drive Hamilton QLD
Breakfast: Tea, Coffee, selection of biscuits, slices, cakes and muffins on arrival

Adelaide
Date: 11/03/2016  Time: 8:00am – 11:00am
Venue: Rydges South Park
Address: 1 South Terrace Adelaide SA 5000
Breakfast: Tea, Coffee, egg and bacon muffin as well as fresh fruit served on arrival
Parking: Limited Free onsite parking as well as 2 to 3 hour free street parkingSydney User Meeting

Sydney
Date: 15/03/2016  Time: 8:00am – 11:00am
Venue: Novotel Sydney Olympic Park
Address: Olympic boulevard Sydney Olympic Park NSW 212
Breakfast: Tea, Coffee and ham and cheese croissants on arrival
Parking: Hotel car park fees apply: All day rate $25.00, or $13.00 for 1 hour, every additional hour charged at $5.00.

Canberra
Date: 16/03/2016  Time: 8:00am – 11:00am
Venue: Mercure Canberra
Address: Cnr Ainsille & Limestone Ave Braddon ACT 2612
Breakfast: Tea, Coffee and a chefs selection of breakfast items on arrival

Perth User Meeting
Date: 17/03/2016  Time: 8:00am – 11:00am
Venue: Assured Ascot Quays Apartment Hotel, Marina Room
Address: 150 Great Eastern Highway Ascot WA 6104
Breakfast: Tea, Coffee, whole fruits and warm muffins served on arrival

Gold Coast User Meeting
Date: 05/04/2016  Note date change.
Time: 8:00am – 11:00am
Venue: Mantra Twin Towns
Address: Wharf Street Tweed Heads NSW
Breakfast: Coffee, Tea, Mini ham and cheese croissants and mini Danish on arrival

Geelong User Meeting
Date: 06/04/2016
Time: 8:00am – 11:00am
Venue: Mercure Geelong
Address: Cnr Gheringhap & Myers St
Breakfast: Coffee, Tea and Breakfast muffin on arrival

SUNDAY RETAIL MANAGEMENT TIP: 5 WAYS TO MANAGE EMPLOYEES USING YOUR POS SOFTWARE

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Good POS software gives you a range of options for managing, tracking and engaging employees using the software itself. In the Tower Systems POS software, there are plenty of employee touch points. Here are five we want to call out today as part of our Sunday tip series.

  1. Track sales by employee code or barcode. This will cut mistakes and improve accountability.
  2. Include employee name on the receipt – to personalise the contact.
  3. Report sales by employee to compare performance.
  4. Manage your roster through your POS software, manage to a budget.
  5. Set security settings in your software to ensure people only have access to parts of the software appropriate to their level of responsibility in the business.

FOR SMALL BUSINESS WHO FIND RETAIL IS TOUGH

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Yes, retail can be tough.

What are you doing about it?

Here is a letter we sent to retailers recently who have said it is tough. It is part of a confronting education campaign based on a truth that even in the toughest of circumstances, retailers can grow their businesses – yes, even small business retailers who are facing tough competition from big businesses.

We have used this letter to try and jog people to see their businesses differently…

I’d love a dollar for every retailer who has told me how tough it is in the last few years. Heck I’d retire with the money I’d have.

The thing is, retail is tough, especially small business retail like a gift shop. It’s always been tough for the little guy. I know because I own a small retail business myself.

We really do think we need to stop saying retail is tough and start challenging ourselves. Hence the question: What are you doing about it? Put another way…

  1. What are you doing to attract new shoppers?
  2. What are you doing to get your existing shoppers to spend more?
  3. What are you doing to drive down your costs?
  4. What are you doing to improve margin?

These are the four most important things for a retailer to act on. They sit at the core of every retail business failure and success.

Taking small steps in each of these areas can help you weather tough times. These same small steps can help you find success with less effort.

Tower Systems is a software company for small business retailers like you. We’re retailers too. We combine retail experience with tech smarts and a passion for small business to help our colleagues to grow their businesses. We’d like to help you.

Using our Point of Sale software for gift shops like yours we can help you

  1. Attract new shoppers.
  2. Get your existing shoppers to spend more.
  3. Drive down your costs.
  4. Improve margin.

Big claims yes … we have existing customers who will tell you that we do this.

Our system can cost as little as $7 day. Besides great software, hardware you can trust, friendly training and software support, you have access to our business skills, acumen and passion. We have your back, helping where we can with advice and ideas to help you grow your retail business.

We’re not your average software company. Tower Systems is a full-service passionate and engaged software company that wants you to succeed. We firmly believe…

In business, through our own actions we make our own success.

TOY SHOP SOFTWARE HELPS TOY RETAILERS GROW SALES ONLINE AND OFFLINE

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Using the latest Toy Shop software from Tower Systems, small and independent toy retailers are able to grow online and offline sales – grow sales in store and grow sales through a smart magento webstore interface.

The Magento interface available to Toy retailers, and other retailers, is elegant, direct and fast. With users already it is working a treat, offering independent toy retailers an easy path to online retail.

This is smart, very smart. better than a webstore link, better than what many software companies offer – as it is direct, using  Magento itself for a direct to the POS software link.

Toy retailers can easily have a common stock file for their store and their webstore, they can sell in the shop or online and not have to worry about syncing files or keeping both up today.

This is just one of the ways the Tower Systems toy shop software is helping small business retailers like toy shop owners to drive better business outcomes for their independent businesses.

Competing with big retailers can be tough. But it can be done. This is where Tower Systems helps – by enabling small business retailers to be smart, to make fact-based decisions for the better of their businesses.

With more toy shops switching to the Tower software we are able to bring opportunities to the table such as supplier links, benchmarking, electronic ordering and other benefits.

Using the Tower you shop software is about much more than the software itself, thanks to the whole of business support approach delivered by Tower through what it does in its work not only with toy retailers but with other specialty retailers the company serves.

GIFT SHOP SOFTWARE A HIT AT REED SYDNEY GIFT FAIR

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Being the only software company exhibiting at the Sydney Gift Fair has been terrific for tower Systems and we have two days to go. Already the company many new prospective customers looking at the software and even better connections with many existing customers.

The experience over the first three days is a reminder of the value of being at trade shows such as this to help small business retailers learn more abut the software and improve the returns they achieve from their IT investment.

While we are happy to have the show to ourselves, any POS software company serious about newsagents, gift shops, garden centres, pet shops or jewellers ought to be at this show given the mix of retailers we have already seen. It is good customer service to do so.

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TOWER SYSTEMS LAUNCHES NEW SMALL BUSINESS INSIGHTS SOFTWARE

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IMG_6811POS software company Tower Systems is proud to announce the release last week of a new software platform for small business retailers.

This new platform is a completely new product from the Tower development team. It leveraged data cultivated by the Tower Point of Sale software and makes it available anywhere, in a stimulating visual form and in a way than encourages the discovery of business performance insights.

Introducing The Visual Deck.

Retail business performance, seen differently.

The Visual Deck is a platform through which you can see the performance of your business, visually. Graphs replace reports, making trends obvious and a path ahead clearer to follow. Graphs that change with time and through which you can dive deeper into what is happening in your business.

Why did we call it the Visual deck? It is visual because, well, your business data is presented in a visual way. It is a deck because it is a platform off of which you can see far and wide. It is a perfect place to see what you cannot see when you are on the ground.

Retailers can access the Visual deck from anywhere, anytime, and through this access their business data in a way not previously accessible ninth small business retail world. You can compare periods, graph using a broad selection of formats, dive deep into the data as well as focus on data points that matter including transactions, revenue, grow profit and more.

Better still, the visual insights can easily be shared with colleagues.

The Retail Visual Deck is a fresh approach to sharing business intelligence and business performance insights with small business retailers. It is mass retailer computing in a small business retailer’s hands. This is the tool join which you can rely to grow your business.

This is 100% Tower Systems innovation.

Having been tested with data from a range of businesses and trialled for months on many different platforms, the Visual deck is ready for small business retailers to engage, to use it to better manage and grow their businesses.

Footnote: If things go as usual, at least on competitor will claim they had this before us and that we copied them. Such a claim is not true. Prior to our launched last week we checked all our competitors in each specialty marketplace in which we live and not one has a product like this.

SUNDAY RETAIL MANAGEMENT ADVICE: SIX THINGS EVERY SMALL BUSINESS RETAILER SHOULD DO EVERY WEEK

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Beyond ensuring the shop is well stocked, clean and pitching appropriate offers to customers, here are tasks you must act at least weekly on to offer a fresh and relevant pitch to customers:

  1. Change your window displays.
  2. Change the product pitch / display / offer in the first third of the shop.
  3. Reset the counter offers shoppers see.
  4. Host an inclusive and interactive team meeting to seek out ideas for improving the business.
  5. Share at least one story, insight or idea about your business and what it stands for … on social media, in a post aimed to reach beyond those who know about your business. Tell a story that humanises the business beyond overtly pitching product.
  6. Get something done that has been on a long-term list of things you want to get to for your business. No excuses, get it done.

It is important to finish a week more ahead than where you started. This is only achieved if you make it so, if you do it.

Tower Systems helps small business retailers with smart POS software. We back this with friendly live support based on your needs. We are an engaged software company, not working from overseas call centres, not focussed only on winning the next customer. We have customers for the long term, customers who love what we do and the relationships we share. This is what being an engaged POS software company is all about.

POS SOFTWARE COMPANY ADDS MORE USER MEETINGS

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Tower Systems is thrilled to add more dates and capacity to the national POS software user meeting tour that is ti kick off in the next few weeks. With strong demand for these free training sessions, the event management team at Tower has found rooms with more capacity.

Offering a free breakfast to make the early start more enjoyable, the Tower sessions are set to be satisfying in ways more than software knowledge. Providing training, support, business insights and more, these free sessions are POS software customer service at its best. It is another feature of the Tower AdvantageTM that thousands of small business retailers love.

POS SOFTWARE COMPANY OFFERS SMALL BUSINESS RETAIL VALENTINE’S DAY MARKETING IDEAS

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As a further example of practical help for small business retailers, Tower Systems last week published the following suggestions / tips. This content demonstrates how the company leverages its retail experience and knowledge way beyond what it traditional for a POS software company.

FIVE FUN AND LEFT-FIELD WAYS ANY RETAILER CAN EMBRCE VALENTINES DAY

While Valentine’s Day is an unashamed commercial season, how you embrace it in your business beyond selling Valentine’s Day products can speak to your unique style of business.

Here are ways you can embrace th season without being purely overtly commercial.

  1. Love where you are. Encourage locals to love the area. Setup a noticeboard inviting them to post what they love about the area. It could be a story, a photo or some other expression of local for the town or region. The noticeboard could be in your sore on online. This promotion is you doing good for where you are situated.
  2. Love what you do. This is a bit like the first option except that you ask people to express what they love about what they do. This could be something in their lives, a hobby or their work. Promote this as an opportunity for people to share something of themselves. Stories like these make the world a better place.
  3. Love others. Invite people to express love for humankind. Choose a local charity, ask what they need and use your business as a collection point. Pitch this as your Loving Others this Valentines Day campaign. Promote the work of the charity, invite your customers to join you in supporting the group and be sure to give something of yourself.
  4. Love lists. On your business Facebook page or through your Google+ page over a series of posts invite people to list things they love. Have a separate topic each day. Ask them to list something and explain why. For example, start with share a song you love and tell us why. Other posts could be share a photo you love and tell us why. Share a recipe you love and tell us why. Share a book title you love and tell us why. The idea here is to get people sharing something of themselves.
  5. The love seat. Make room for a seat for two in your shop or out the front of your shop. Promote this as place for friend to meet up and talk, where friendships can be rekindled, stories told and memories shared. Where people can communicate the old way rather than via social media. If possible, offer free coffee and cake. The idea here si to show you and your business as promoting conversation.

Each one of these ideas is designed, of themselves, to increase your sales or foot traffic. They will, however, speak to who you are and what your business stands for in the local community.

While bigger businesses will run overt Valentine’s Day promotions screaming shop here, your focus will be on touching people’s hearts in a meaningful way, rejoicing in this day for heartfelt reasons beyond the cash register.

HELPING SMALL BUSINESS RETAILERS LEVERAGE TYRO BROADBAND EFTPOS

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Small business POS software company helps small and independent retailers leverage the opportunity of the Tyro broadband EFTPOS  solutions. We do this through a direct integration with our smart POS software as well as through the friendly small business focussed help desk service.

Serving retailers across a range of retail niches, we have experience from many channels and situations from which to draw when helping retailers save time, cut mistakes and benefit from a best-practice EFTPOS integration. This is an integration supported by tower for many years.

While the Tower Systems POS software works with a range of platforms, Tyro is featured by the company thanks to the relationship with the folks at Tyro, a relationship that benefits the Tower Systems small business retailer user community.

We use Tyro ourselves in our own retail businesses. This enables us to support from a basis of personal experience. It sets us apart.

SMALL BUSINESS RETAILERS: DON’T LET FEAR RULE YOUR POS SOFTWARE BUSINESS DECISIONS

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IMG_5090Too often we hear stories of POS software companies threatening small business retailers either through deliberate use of technology jargon or through threats of costs being imposed that were not part of the original contract.

As many small business retailers are not experienced when it comes to technology and not used to dealing with technology companies, they can become confused and think this is how it works, this is normal.

It is not normal.

Small business retailers deserve to be treated with respect, using terminology they understand and with business contracts that are clear and straightforward.

Any POS software company engaging in overt or covert threats ought to be ashamed of themselves. If this is what they have to do to win or keep customers then shame on them and shame on those who work for the company and support such approaches.

Tower Systems is a safe haven for small business retailers looking for an empathetic POS software company, a place where any question can be asked, where regular free training is offered, where business advice is freely available beyond what is usual for a POS software company help desk.

We go into relationships for the long-term rather than a quick sale. This is reflected in our approach to initial training and on-going training, much of which is provided to our small business retail customers for no additional cost. We make this investment knowing the value of a happy customer, especially in small business retail circles where retailers network with colleagues in their retail channel, talking about supplier experiences.

If you are experiencing fear or anything close to fear in your dealings with your POS software company, get out, quit that software as a relationship based on any such fear is an unhealthy relationship for you personally and for your business.

Seek out a professional, respected and trustworthy POS software companies where fear has no place, where small business retailers are communicated with as a peer and not as someone to mock or confuse.

We are writing about this today as we have recently seen a stream of communication between the owner one Australian POS software company and a customer. It is appalling: unprofessional and unnecessarily aggressive. No wonder the retailer experienced fear. The threats in the communication give all software companies a bad name.

Don’t let fear rule your relationship with your POS software company.

Helping small business retailers leverage POS software through professional communication

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Screen Shot 2016-01-24 at 10.15.47 amSmall business retailers fall in love with POS software companies for a range of reasons, often layered upon each other to provide a comprehensive view of the software supplier business.

We know from years of experience at Tower Systems what many factors play into the small business retailer relationships on which we rely and that we cherish so dearly. The software is a factor, as is the software support. There are other factors too, such as customer communication.

Our small business retail customers love that we communicate with them across a range of platforms and at different times of the day and days of the week. From the reliable weekly email, pictured, to print newsletters, to training videos, to outbound calls to drop-ins to their businesses to user meetings, we offer touch points of a wide variety and through which our customers can connect with us and what we do, touch points on which small business retailers can rely to leverage their POS software to achieve better business outcomes.

Take the weekend email – pictured – this is sent each Sunday. Our weekly email contains news about the POS software, update information, business management advice and business management training. The weekly email from Tower Systems goes way beyond what retailers are used to from their POS software company. It is a professionally presented email. Brief yet complete, providing links to more information for those who want to explore a topic further. Most important is the contact points we publish in the email – we don’t leave small business retailers with vague information. No, we are specific in our contact points, specific with advice on the names of people they can speak with about software and general business management questions and issues.

We know from customer feedback and engagement that the email is used, shared and relied upon. It is a key differentiator for Tower Systems as we demonstrate personal and committed support for small business retailers across a range of retail channels.

Whereas some software companies rely on customers contacting them for and business to business communication, here at Tower Systems we understand the importance of professional business outcome focussed outbound contact. Our goal is to provide our customers with useful information prior to them needing it. Timely information appropriate to retail seasons. Helping information attuned to changing economic conditions. Target information specific to specialty retail channels in which we serve.

Through decade of service to small business retailers we have learned the value of this timely and professional communication. feedback from our small business retailers encourages us to continue our approach and to maintain our commitment to professional outbound contact and support.

We are careful in our communication to ensure it is not geek-talk. No, we prefer plain English help, aimed at supporting those using computers in business because they know they have to rather than because they love technology. This is where our business management advice is particularly useful – we show how our retailer customers can leverage the technology for practical business outcomes in their business. We do this weekly in the email and daily on the phone through our accessible and friendly help desk support.

We back our communication strategy with engagement on social media such as Facebook and Twitter. We are where our customers want us online as well as off line. This is why mail, email, web, social media and other platforms are engaged with by Tower Systems – to reach our customers where they are and not only where it suits us. Sure, it is hard work, relentless work. However, it is rewarding work when we receive feedback fro customers thrilled with outcomes they have achieved as a result of the engagement we have driven through our communications strategy.

The consistency of our communication is a key factor in the bond of trust between Tower Systems and its customers. It drives loyalty on both sides and demonstrates an understanding of customer businesses – as the communication is more than lip-service, more than spin, it is real life action, seeking to genuinely make a difference for the positive in the small business retail businesses in which we proudly serve in Australia and New Zealand.

This is the Tower AdvantageTM. A suite of tools, software, strategies and platforms through which we serve specialty retailers, helping them create better, more enjoyable and more valuable businesses. We trade-marked the Tower AdvantageTM because it deserves it. It is unique to us, unique for our customers. The trademark represents our pride in what we do and those who we serve. It represents the difference we make in the world.

HOW TO FIND OPTIMISM IN SMALL BUSINESS RETAIL

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Every day can be tough in small business. You can feel like the big competitors are winning and that you can’t climb the mountain to compete. You may not know where to start.

There are green shoots of good news and opportunities in every small and independent retail business. The key is to find these and to leverage them for more success.

A green shoot is a product or a category of products or a supplier performing above average in the business. Often, these successes have gone unnoticed.

We were working with a retailer recently who said business was down by 20% and they did not know what to do. It turned out that the best performing product category in their business was ‘failing’ for six months because they had not replenished stock.

They invested, instead, on new lines that had not gone as well as the successful product.

They, in part, created their own downward spiral and had not looked at their business data to understand that contributed to the problems they were confronting.

Once they realised the situation, they re-stocked the successful range of products and numbers started to improve. More important, their confidence level grew and with this their business decisions improved.

There are opportunities for optimism in every business.

Finding optimism is like mining, you have to look for it, sometimes for a long time. It is there, though, in every retail business.

As soon as you hear yourself talking your business down, STOP. Look at your data, look for the good news. That is what you need to think and talk about.

By looking at your data, we mean looking at year on year, quarter on quarter or month on month comparison data for departments, categories, suppliers or even individual products. Look for growth and once you see growth, think about what you can do with and around the products achieving growth so that you can achieve other growth.

Any product achieving year on year increases in unit sales is a product to be appreciated, nurtured and used to help grow other products that can sell to the same customer.

This is how you grow optimism. Find those small green shoots, leverage them with some small steps and, over time, build more success for your business.

While overall revenue, traffic count and profitability may be down, growth even at the smallest data point, such as for one or two products, could be enough to get you looking at your business differently.

In the Tower Systems POS software, the best initial reports for good news are: Monthly Sales Comparison (department level, category level and / or supplier level), the 10×10 Report, Ranked Sales Report (by units) for one period and then for the comparative period.

We’re here to help you find the good news in your business. Your business data is the key.

POS software customer love helping us sell POS software

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We invited several customers last year to have their photo taken in-store as part of a promotional series showing happy small business customers in their shops where they use our smart POS software. We were thrilled every customer we approached agreed.

Here is one photo from the wonderful LollyBomb business in Adelaide. Some of the specialist facilities in our software help this business in smart and engaging ways.

We are grateful for their help in promoting our software.

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The most useful small business POS software knowledge base

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I am still amazed at what I can learn about your software and I’ve been using it for years already.

This is a customer comment to us from last week on discovering new training resources in our online knowledge base.

Our investment in regular enhancing of knowledge base content pays off this this type of customer love. It encourages us to do more.

New articles, new business advice and other new content each week make our small business POS software knowledge base a wonderful resource for our small business retailer community.

We especially love suggestions from customers on new content we can publish.

Sunday retail management advice: basket analysis helps you sell more

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Basket analysis is the analysis of products purchased by transaction – shopping basket. Such analysis typically compares two trading periods overall and by day of week. It also includes this analysis by supplier comparing trading periods and day of week.

Basket analysis shows you the efficiency of product categories (departments). For example, see how many baskets include one category of item and nothing else. You can also see the numbers of times sales are single item sales.

Basket analysis underscores the value to the business of newer categories such as gifts and toys.

Basket analysis at a supplier level is equally insightful, allowing you to compare the basket efficiency and value of suppliers between two tradition periods as well as across each day of the week between two trading periods.

It is at the basket analysis level that you can determine product efficiency. A product is more efficient for you if it is purchased with other items in our view. You can drive this by careful placement on the shop floor, promotion at the sales counter and working with customers on the shop floor to guide their purchases.

It’s an example of how you can use comprehensive business data to drive your in-store actions. For example, knowing what we know about pop vinyls, Saturday is the day we really focus on them with secondary locations to do even better from the Saturday opportunity.

Basket analysis can also help you with rostering. With some category sales requiring more staff time that others, you can consider the product mix sold by day and adjust your roster accordingly. Trimming wages is an important cost saving focus in business.

The goal has to be deeper baskets (more items per transaction) and a greater spread across product categories – but with a focus on higher margin items so that also lift the overall GP performance of the business.

In the Tower Systems software the report to use for this analysis is the Basket Analysis Report. It provides an extraordinary insight into baskets.

CPA level help for POS software Xero interface

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Tower Systems offers CPA level help for retailers using the Xero accounting interface within our POS software. Guiding appropriate coding and ensuring the right data is linked to Xero, the level of help we provide is beyond what is usual for a POS software company.

Our Xero POS software link is best practice.

Beyond the help desk and beyond the usual IT support person assistance, our in-house accountant is able to help our customers to ensure accurate data and thereby leverage the better value achievable from the Xero link to the Tower Systems POS software.

We use Xero ourselves for two of our retail businesses and this enables us to speak from experience. This makes our advice more personal and experience based than what is usual for a POS software company.

Our accounting link experience includes Quicken and MYOB as well as Xero. It is the Xero experience we like the best, the accounting solution we have enjoyed the most.

This is another POS software Tower AdvantageTM.

Advice for small business retailers doing it tough – from our POS software co.

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In our POS software company are often asked for help when it is too late. In this article, we outline steps any retailer can contemplate from them moment they realise their business is in trouble, from the first thought that closing may be the only option.

Tower Systems is more than a software company. We are retailers too. We cherish the relationships with our retail business customers. We will help whenever and wherever we can to help small and independent retail businesses survive challenges and grow. Mark Fletcher, Managing Director.

If your retail business is in tough times and facing imminent closure, you may be able to save it if you act quickly and ruthlessly. Based on years of working with many different retailers, I have found that some basic steps can successfully turnaround a business in trouble. But you need to be ruthless.

The following tips are designed for businesses with a little (but not too much) time available to fix things. While they are not appropriate to every business, the ideas can lead to others that may be appropriate.

This advice is also appropriate or businesses not facing imminent closure but certainly facing tough times.

Crucial to saving a business from closure is to understand why it is in this situation. You have to be honest with yourself about this. How did it get to this?

  • Did you not make changes to your business when you should have?
  • Has something local and unexpected impacted your business?
  • Have you been a bad retailer, allowing the business to fade away?

Do not be afraid or ignorant in confronting these questions.

Make an honest appraisal of the state of the business as the truth can inform what you do next.

You have to own your situation. This means being realistic about what you face and what got you there. This is important as it opens you to what you need to do to resolve the situation, to rehabilitate your business.

Now, to the urgent steps you could take to avoid the closure of your retail business:

  1. Know your truth. If you run a computer system, analyse the data it collects. If you don’t know how to do this, find out. Look for surprise information in your data, things you did not know about your business. For example, look at the top selling items. If there are surprises there they could inform other decisions you make to urgently address your situation. Talk to your computer software company, ask for their assessment. Knowing your truth is key to owning your situation.
  2. Quit dead stock. If you have stock on the shop floor which is old – ‘old’ can vary between product categories – and for which you have already paid, quit it. However, stock that is greater than six months old is a reasonable guide – then take action to sell this at a substantial discount. Move the stock off display units. Line it up to look like clearance stock – stacked up on tables. Setup plain and simple signs indicating the discount prices. Create signage to show it as clearance stock. If you have enough clearance stock in your business, consider signs across your front windows. Give your sale a name that is unrelated to your situation. Here are some suggestions: MEGA SALE, FIRST EVER MARCH SALE, AUTUMN SALE, SMALL BUSINESS MIGHTY BIG SALE. Give it a name you can theme around.
  3. Run a loyalty offer. Immediately setup and run a loyalty program rewarding shoppers with dollars off their next purchase. The most successful loyalty offer in recent times is discount vouchers whereby vouchers are included on receipts offering an amount which is cleverly calculated by your software based on the items in the purchase. The goal has to be encouraging shoppers to purchase again soon based on the offer on the receipt for items they just purchased.
  4. Move things around. If your business is in trouble it is likely that it has not changed much in recent years. Change it. Move departments around, shake things up so your customers trip over things they did not think you sold.
  5. Review prices. Look at the common items you sell, consider a small increase in your prices. It could be a small increase will not hurt sales volume yet will add profit to your bottom line.
  6. Upsell well. At the counter, work to extend the basket for every sale possible. Do this with clever counter product placement and witty and engaging banter with customers offering upsell products. You goal has to be to make more from each customer.
  7. Stand for something. What is different about your business? What is special about it? What makes people want to come back? If you don’t know the answer to these questions you’re in trouble. If your answer is we’re the only shop of your type nearby you’re in trouble. If the answer is people have always shopped here you’re in trouble. You need to have a difference that people want and will talk about to others. It could be a product or a service. However, it cannot be a product line that is traditional to your type of business as that will not add value to your shingle in the way you want or need. What do you stand for?
  8. Market within your budget. Photocopied black and white flyers designed with care can be cheap and effective.
  9. Attract people who don’t know what you sell. Run a no-cost or low-cost campaign to reach out to shoppers who have no ideal what you sell yet which could appeal to them. They are not to blame for not knowing what you sell.
  10. Different retail options.
    1. Consider becoming an outlet shop selling items from a supplier keen to quit bulk items.
    2. Rent space in your shop to another retailer.
    3. If you have higher priced items consider offering employees commission on sales.
    4. Maybe become an outlet for local artists taking on items on a consignment basis.
  11. Stop unprofitable behaviour. If you are doing things in your business which lose money or do not contribute to a good future for the business, stop doing them. Regardless of history or what your business might stand for, continuing with unprofitable activity only makes your situation worse. If you know something to be unprofitable and yet you say you can’t stop it, think carefully about that, about why you can’t stop losing money.
  12. Get suppliers to help. Suppliers often have old stock themselves which they want to quit at a substantial discount. Buy items you have not stocked before, negotiate good prices and put the stock out with a healthy margin but still at a discount to what others would be charging. Negotiate to pay once you are paid by customers.
  13. Trim employee costs. Cut employee hours and work more in the business yourself if you are not doing so already. While this can have a significant personal cost, the less you pay others the more be business benefits in financial terms.
  14. Trim overheads. Cut everything you can: cleaning, power usage, insurance, freight, banking. Look at every supplier relationship you have and see if you can negotiate a better deal to cut your operating costs. However, do not turn off lights as darkness is death in most retail businesses.
  15. What assets can you sell? Do you have computers, retail fixtures, vehicles or other assets you no longer use in the running of the business? If they are not being used, turn them to cash as quickly as possible.
  16. Get a job. If you have a partner in the business with you and the business can run with one partner, one of you should get a job outside the business. This is especially helpful in a husband and wife situation where the family income can benefit.
  17. Talk to your landlord. A good landlord will prefer a good business to stay rather than have then close down and a new tenant having to be found. Talk to the landlord, be honest with them about your situation. Given the landlord all of the information they need to make the decision you need them to make. This information will include sales figures, expenses and margin information. Usually, the more transparent you are with the landlord the more they will support your business.
  18. Talk to your bank. While banks tend to not get involved in lending to businesses that are struggling, it may be that they have contacts that can help you navigate to a solution. Maybe talk to another bank.
  19. Talk to colleagues. If you have nearby business colleagues in the same line of business, they might have stock they are happy to provide you for free or at a discount to give you stock to move for a good price.
  20. Refresh the business. Make the business look, smell and sound fresh. Beyond the products you sell and where tings are located, change the environment itself using scents and sounds. Too often when a business is struggling, those involved let standards slip and the business does not look attractive to shoppers. Avoid this laziness at all costs.
  21. Deliver amazing customer service. When serving customers be the perfect shop assistance and not the owner of the business facing closure. Keep your mind on the job at hand and not the cliff you’re worried might be a few steps ahead.
  22. Whoever is pressuring you the most to close or contemplate closing, talk to them. If it’s a supplier, the tax office or some other organisation or individual pressuring you about debts, be upfront with them, lay out for them your plan detailing the action you will take to turn your situation around, be clear about what you are doing and outline a timeline step by step for them. Seek their support.
  23. Set a timeframe. Decide where you want to be in a week, four weeks, eight weeks, twelve weeks. Set realistic goals. Measure yourself against those goals. Know what you will do if you fall short.

What I am suggesting here is general advice. It is intended to get you thinking of ideas that could work for you.

No two situations are the same. No situation is impossible. No business is dead until the doors are closed for the last time.

Never give up. Fight hard and fight smart to turn your business around.

Facing tough circumstances in retail can be like the deer in the middle of the road at night facing the headlights of an oncoming vehicle. Don’t freeze. Take action to mitigate your situation. A series of small steps could be the difference between closure and trading out of the problem.

I have prepared this in response to a comment from a retail colleague who asked for advice on how to deal with a business facing closure.

If your business data there are bound to be opportunities and insights around which growth can be achieved. If you are not sure where to look or what they could mean, ask us. We will help.

Small business retail advice: Navigating to the New Paradigm in Retail guided by your POS software

S

Everywhere retailers look today they are confronted with a new paradigm, a new approach to doing business, regardless of their area of specialisation.

Over recent years the fundamentals of retail have changed and some retailers are yet to notice and embrace the change.

The new paradigm, while impacting all retailers, is not universal. There are nuances by channel and there is where specialist Point of Sale software can help a retailer navigate to the change in circumstances.

The customer is at the heart of retail today, more so than ever before. Thanks to universal access to pricing, product and other information, the customer is more informed and powerful than ever before.

Whereas in the past a retailer knew of their key competitors based on their geographic location and could therefore research and understand them, today’s competitors could be anywhere in the world. Indeed, many shoppers are spending time with a competitor of a retail business while actually in the business… such is the power for the customer thanks to smartphones and easy access to the online world.

Many retailers have made them mistake of thinking that the new paradigm is merely about bricks and mortar retail versus online. That is barely the beginning of the new paradigm. Indeed, it goes way beyond such a basic comparison.

The only way to compete in this new world of retail is to genuinely and wholeheartedly place the customer at the centre of everything you do. From the moment they step near, physically or virtually, your business you need to embrace them with an embrace unlike ever before. No, not a hug, nothing physical.

The customer embrace in this new world of retail is about value, from as soon as a customer is nearby. Value in service, advice as well as price. This is where bricks and mortar businesses can win against online… if they understand how to demonstrate value through a range of touch points in their business.

Central to delivering value is the core efficiency of the business itself. Retail businesses need to operate at a level of efficiency which enables them to compete on price. At the same time they need to ensure that all sales associates are able to transact with shoppers wherever they are in the store. They need to be able to be the most knowledgeable people in the store without necessarily having the most experience.

This is where good Point of Sale software, ideal software for the type of retail business, can provide a retailer with a point of difference and a structure through which to embrace the new customer-centric paradigm.

It is not enough to operate a basic cash register type system as that will deliver only basic results and basic will not cut it today with competitors around the globe. Retail businesses which specialize need specialist software. The result is a stronger, smarter and more nimble retail business.

Good specialist Point of Sale software will, if used well, enable a bricks and mortar business to not only compete but grow in this world. This is an opportunity for retailers, an opportunity to embrace change and to thrive against what may seem to some like insurmountable odds.

Drive your relevance, use your software, chase change.

The POS Software Blog

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