ANZAC Day is more than just a public holiday in Australia. It's a day when we come together to remember the brave men and women who have served our country in wars, conflicts, and peacekeeping missions. It's a day of reflection, gratitude, and respect.

My Connection

I've always held a special place in my heart for ANZAC Day. I remember my Dad, a World War II veteran who fought in New Guinea in WW2, taking me to the Dawn Service, and I saw him march when I was a kid. I remember him marching in the unit; sadly, I doubt any of them are still with us. Many years later, I remember my aunty looking with me at the march, saying even the Korean War veterans look old. 

Do you remember this photo that went viral a few years back?

She was 99 years old then and stated it would be her last march.

Support on ANZAC Day

Rest assured, our after-hours and after-hours support lines will be fully operational throughout the day, giving you peace of mind.

Remember, many retailers adjust their opening hours on ANZAC Day, so you might too.

Lest We Forget

The Australian retail landscape is in flux; we all know that what is essential with these studies is not just what they say but also what others, for example, banks that control the finances and prospective buyers and their accountants, are being told. These people control the inflow of money.

What we do know is that retailers face obstacles.

- We have a rising cost of living

- We have significant supply chain challenges

- Shifting consumer preferences

As everywhere, only those who are willing to adapt and evolve do well.

Let's dissect some critical insights from Roy Morgan's recent retail address and a lively discussion between retail experts Laura Deasi and Paul Zara, CEO of the Australian Retailers Association.

Key Takeaways from the Roy Morgan Address

• Population growth is vital: Australia's growing population has been a lifeline, somewhat shielding us from a full-blown recession. These people have been a big help to retailers.
• The cost-of-living bites: Rising costs disproportionately affect young families with children. However, some sectors and demographics still have spending power. The traditional pattern in such circumstances is that men's products go down, followed by kids' and women's products.
• Changing spending patterns: Consumers are reducing spending in some categories but increasing in others. There's a surge of interest in bargain hunting and sustainable options.

The Rise of Online Giants

• Amazon's Dominance: Amazon is rapidly expanding its customer base and is now one of Australia's top five non-food retailers. Their vast stock and focus on fast delivery pose a significant challenge to brick-and-mortar retailers.
• Ultra-Cheap Challengers: Shein and Temu have entered the scene with rock-bottom prices. However, concerns about quality and ethics may turn some consumers away in the long run.

What Does This Mean for Aussie Retailers?

Paul Zara and Laura Deasi offered valuable advice and considerations:

• Value is the New Currency: Price matters more than ever, but it's not just about the cheapest deal. Emphasise quality, durability, and your product's long-term benefits.
• The Ethics Factor: Consumers are increasingly conscious of your company's ethics. My advice still applies: Do not fall into this trap as whatever you do many will not like it.
• Online presence: I do not know how or why anyone would want to escape without an online presence.  Offer something and have "click-and-collect" options. A modern and robust online presence is essential for meeting the expectations of today's shoppers.
• Tech to the Rescue: Your point-of-sale (POS) system can be your best ally.
  • Streamline operations: Automate tasks to reduce overhead and free up time for customer service.
  • Personalise experiences: Use our CRM features to provide recommendations and targeted promotions.
  • Data-driven decisions: Track sales patterns and inventory levels to optimize your offerings and minimise waste.

Your Competitive Edge: The Human Element

Retail has always been a people-powered industry. While tech upgrades are vital, the exceptional in-store experience remains a decisive advantage for brick-and-mortar stores:

• Become an expert: Offer valuable product knowledge and tailored recommendations that online giants can't replicate. Coles has even little things like greeting cards, but I will not get any advice there on the sort of card I need.
• Build relationships: Friendly, personalised service creates loyal customers who become your advocates.
• Community connections: As Paul Zara emphasizes, physical stores are the heart of local communities. Support community causes to show that your values extend beyond sales.

The Future of Retail – Adapt and Thrive

The retail landscape is constantly evolving. Businesses with the foresight to adapt have a chance to excel:

• Embrace innovation: New technologies can transform your operations.
• Test and learn: Experiment with new products, displays, and promotions. If they work, double down. If they fail, be ruthless and get rid of them. Do not reinforce a defeat.
• Partnerships matter: Collaborate with as many people as you can.

To do well in 2024, we need to focus. 

Share your thoughts in the comments below!

I recently had a surprising experience at a large supermarket. I went to pay and was told to go to another cash register as this one could not handle cash! While I'd seen this once at a trade show, it was the first time it had been in a mainstream store. This got me thinking that we are genuinely nearing the end of cash, despite what banks and governments say. Soon I expect many shops will introduce a surcharge for cash.

The Australian Cash Exodus

The numbers don't lie. The Global Payments Report predicts a dramatic shift – by 2025, cash will likely account for just 2% of the value in all point-of-sale transactions. It's not going away entirely, but other methods will dwarf the amount we spend using physical cash.  Unsurprisingly, it notes that ATM withdrawals also decline as people ditch cash.

Convenience and Security

We are also seeing the successors to credit and debit cards coming with digital wallets on our smartphones. These are far more secure. Think about it: a thief can potentially use a stolen card, but with a smartphone app, they'd need your phone, access to it, and usually your fingerprint. It's a big leap in protection!

Brick-and-Mortar Retailers: Time to Adapt

This cashier-less trend isn't just curious; it's a real opportunity for small businesses. Here's why upgrading your point-of-sale system makes sense:

- Efficiency:  No more fumbling with notes and coins means faster checkout. Customers love speed!

- Improved Security:    Less cash on-site drastically reduces the risk of theft.

- Enhanced Customer Experience:   People demand payment choices; cashless often feels to them secure and streamlined.

Embracing the Cashless Evolution

The retail world changes quickly. To stay ahead of the game, adaptability is key. Cashless point-of-sale solutions aren't just a trend but likely the future standard.

A Personal Note

Change can be unsettling – I remember when cards themselves were the new, scary thing! The same will happen with the shift away from cash. I know we now have and are selling cashless registers.

Ready to Make the Shift?

Our POS software is designed with both cashless and traditional payments in mind. Get your free consultation today, and let's future-proof your business together!

Let us talk about boosting your efficiency with the speed you need.

As a retailer, you're always busy with tasks in your store. Technology updates might not seem key, but modern laptops give great perks that can change your daily work. In a typical work meeting, we all sit around a table with our laptops open.

Let's Talk Laptops

Laptops are everywhere for a reason! Here's the lowdown on what you need to consider:

Limited Upgrades: Unlike desktop computers, there's less ability to swap out internal components in a laptop. Usually, what you buy is what you get.

Warranty: Warranties today are often really good on laptops. Still, there is one big problem: opening your laptop to upgrade it yourself could leave you without warranty protection if something goes wrong.

Speed is King: Modern laptops are much faster! Recently, we upgraded a client from an i7 to an i9 model. The speed boost was clear – a report that used to churn away for 35 seconds on their older laptop i7 now finishes in just 20 seconds on the new i9! 

Computer Noticeability: Don't think speed boosts are too small to notice! Humans are quick – we can perceive changes on a screen within a few hundred milliseconds. You will see the difference. If it's like 15 seconds, as above, you, the customer you're talking to, and everyone else will notice the delay.

The Power in Your Hands

The right modern laptop puts so much power at your fingertips as a small business owner:

Portability: With a laptop, your work goes wherever you do – home, meetings, supplier office to check your sales figures and allows you to work from anywhere, e.g. a cafe.

Reliability: Newer computers mean fewer glitches, less downtime and headaches.

Enhanced Customer Experience: No one likes waiting on a slow computer! A snappy machine lets you serve customers faster, keeping lines moving and everyone happy.

Ready to Make the Leap?

If you need a tech update, get in touch! We can help you find the perfect modern laptop to streamline your small retail business and give you a competitive edge.

As a retailer, you need to keep records for years. Government regulations, legal needs, or even access to old customer data are all important! I sometimes had to access very old information just for commercial reasons 20+ years ago.

Now, have you thought about how long your digital records will last?

Sadly, the hard drives and discs we use aren't built for centuries like those old carvings archaeologists up to today. Let's look into long-term storage so you make the right choices.

What Lasts, What Doesn't, and How to Make it Better

• Cloud storage: Theoretically, it lasts forever, but there will be issues.
• Magnetic Tapes to the Rescue? These can, under ideal conditions, last a long time, but few of us actually have the specialised equipment. Besides, it's often a pain to use.
• Old fashion Hard Drives: Most work for about 3-7 years, although a lucky few last longer. For them to keep storing, you need to use them; otherwise, they deteriorate after about two years. 
• SSDs: Most SSDs won't outlive their 5-10-year warranties and, if left unused, will deteriorate faster than old-fashioned hard drives to refresh the data system
• Optical Discs: Please aim for quality; write-once media like Verbatim Gold have more extended longevity, and the cheaper ones have much less; for CDs and DVDs, you are looking depending on the type for 5 to 100 years. When I went to the Verbatim website and looked at their warranty here, I noticed that they only give two years, which does not include a data retention guarantee. The courts may have something to say about that, but few people want to have to argue this in court.

Most people today, when looking at very long-term storage, look at DVDs today as they are both convenient and economical if so: 

Protecting Your Precious Data on CDs and DVDs:

It depends on three main factors:

1) Have more than one backup. I would argue that you do not have a backup if you only have one backup. These two backups should be stored in different places so that if anything happens to one location, the other is safe elsewhere.

2)  You need good quality DVDs. There are good reasons why they are a bit dearer. This comes from a Canadian government study, which you can find here.

3) Environment matters!

Pick a place 

• Cool & Dry: Store items at around 20°C with about 40% humidity. Heat and humidity are the silent killers! This can be a problem as we often go above this in summer. Do you have a cellar? Avoid garages or attics where temperatures can swing wildly!
• The Dark Side: Store discs in cases out of direct sunlight. I put a sealed plastic bag over them.
• Peace & Quiet: Avoid putting the discs where they will be moved or dropped.

Cloud Storage

As the limitations of physical storage have become increasingly apparent, cloud storage emerges as a compelling solution for preserving your digital legacy. In theory, entrusting your data to a reputable cloud provider can overcome many of these problems.

Pros:

• Accuracy: Today, many Cloud storage providers offer an astonishing rate of accuracy in their storage capacity. One I saw doing an online search offering 99.999999999% (that's 11 9s!) data durability. That far exceeds the reliability of any physical media.
• Dispersed storage: Many Cloud providers will keep your data in many different geographically dispersed data centres, thus ensuring redundancy and resilience.
• Easy access: Your data is available on-demand from any internet-connected device, anytime, anywhere.

Cons:

• Cost: Generally, it costs, although many, like Google and Microsoft, do have a limited free plan.
• Future uncertainity: Considering the period of time we are looking at here, a cloud provider could go out of business, change its policy and who knows what.  
• Policy: Some cloud providers, e.g. Google, state that they "reserve the right to delete an inactive Google Account and its activity and data if you are inactive across Google for at least two years." So every two years, you have to go into your account to say hey, this account is still active. Its not a big ask but its not entirely setup and forget.
• Remembering passwords: Cloud accounts work through account names, passwords, and increasingly mobile numbers. Over the next 10 to 20 years, how will you remember these details? Will you have the same mobile number then? If someone else has access to your account and passwords then they also can get your data. 
• Control: In an overall sense you do lack control.
• Privacy concerns: Be aware of potential changes in data privacy laws or a provider's terms of service. Although few of my clients has an issue here now, the privacy laws are slowly turning to the idea that much data businesses stored must be held in Australia, not an issue now but who knows in 10 to 20 years. 

Still today Cloud storage does offers a tempting solution for long-term record keeping.

Summing up:

Overall my preference would be to burn two copies of my business records into a good quality DVD. Put them in my business records in a safe place in my house in a box as here

and put somewhere in a safe spot in my house. I would then put on a free sevice like Google a copy which I could access anytime, anywhere.

Want to get your data storage sorted? Contact us for a free consultation!

Running a shop can be a problem if you don't have much room.  This is a common problem as most of us have more stock than we can display. Don't let that hold you back! You can turn your shop into a sales machine by understanding your customers and applying clever design tricks.

Why Your Store Layout Matters

A well-designed store does more than look good. It caters to your target customers' needs, guides them effortlessly through your space, and highlights your best products. When customers feel comfortable and understood, they're more likely to find what they need, linger longer, and buy more!

Know Your Audience: The Key to Smart Layout Decisions

Before rearranging shelves, take time to understand your ideal customers. 

• Demographics: What's the age range, gender, and general lifestyle of your target shoppers? Guys are generally taller than women so that the items can be higher for them; for kids, the stuff must be right down low.
• Shopping Habits: Do they prefer browsing leisurely, or are they in-and-out shoppers? If they want speed, you need the items at the counter so they can come in, do the sale quickly and leave quickly. Also, do they tend to come in alone or with others?
• Pain Points: What problems do your products or services solve for them?

Your Secret Weapon: Your POS Data (and a Little Observation)

Your POS System can do much more than just be a simple cash register. It's full of clues about your customers and what they like to buy. 

Here's how you can use this data and watch what happens in your store to make smarter choices on how to arrange things:

Identifying Your Powerhouse Products

• Best Sellers Report: This tells you precisely what's performing well. Place these top performers front and centre for maximum visibility. 

Go to the top N stock report, which you can find in the Register reports.

We then put in a period, say the last two months; this will show you what is selling now, then when you have your list of best sellers nicely ordered by quantity, profit and sales.

Pay attention to the colors and sizes.

Think about using lights and signs to make them stand out more.

• Companion Sales Report: This report unveils items that are frequently purchased together. Placing them strategically throughout your store can boost sales. Think of how grocery stores place snacks near the drinks section.

Go to Sales-Register > Dissection Companion Sales by Period.

Try looking for an abnormally high number of products for other stuff that sells well with that department. It is beneficial as it can help you select a product to display prominently near a department. This is a well-known method of increasing incremental sales that all majors use.

You take items that sell well with the products of another department and place some of them in that other department's area. There is nothing wrong with a good seller having a few spots in the shop. 

Like this one, a stand of good sellers in a prominent position is always good.

As you can see here (green arrow), quite a few extra sales could be made by moving some other companies' chocolates close to Darrel Lea Chocolates. Darrel Lea may not like it, but ....

Another great use is more long-term. If grouped by department, you can get a feel of where you should position the display for the department. As you can see here by the green arrow, the books should be close to the stationery.

If people looking at your book can see your stationery, you may be able to make a few extra sales. 

These KPIs can give you ideas into which products to display prominently.

Traffic Patterns

Don't discount the insights you can gain by observing how customers move through your store. Are there areas that seem to get ignored? Do people get bottlenecked in a particular spot?  Are there areas that let the customer go too quickly? Use this information to fine-tune your layout.

Data-Driven Merchandising Strategies

Here are some practical ways to apply these insights:

• Highlight Bestsellers: Your top-selling items deserve prime real estate. Give them prominent shelf space, consider eye-catching displays, and enhance visibility with strategic lighting and signage.
• Promote Companion Products: Place items often bought together within easy reach.
• Seasonal Shifts: Adapt your layout based on historical sales data.
• Clearance Corner or Dump Bin: Designate a small "dump bin" area for heavily discounted items.  This is an excellent way of getting rid of dead stock.

More Tips for a Small-Space-Friendly Layout

• Embrace Vertical Storage: Use shelves, hooks, and racks to reach upwards.
• Let There Be Light: Good lighting makes your store inviting and highlights merchandise.
• Keep it Tidy: A well-organized shop feels bigger.
• Create an Illusion of more space: Light colours generally make a room feel bigger.
• Get Creative with Signage: Clear signage to advertise your products.

Case Study

• The Bookshop Upgrade: We had a client who sold books. He knew his customers loved to browse, so he arranged the bookshelves to create small, inviting nooks. He then put in a couple of comfortable chairs. This encouraged shoppers to linger and discover new titles.

Remember: It's an Ongoing Process

Trends change, and your customers' tastes evolve. Stay flexible, and don't be afraid to experiment!

The Bottom Line

By understanding your customers, using your data effectively, and getting a little creative, you'll create a retail environment that's welcoming, efficient, and drives sales – regardless of your square footage!

It appears the way people will pay is changing, and Australian retailers need to know. While not yet available in Australia, palm-based payment technology is gaining traction in the US. I see it appearing here soon.

What is Palm-Based Payment?

This technology links customers' unique vein patterns in palm prints to credit/debit cards. At checkout, a person whose palm is registered hovers their hand over a scanner. The scanner reads their vein structure and sends the details to the bank for payment authorisation. Such systems are already in use at select locations in the US. 

The Advantages for Retailers

• Seamless Transactions: Say goodbye to customers fumbling for cards or struggling to remember PINs.
• Time: Palm scanning offers faster transactions, saving shoppers and staff valuable time.
• Heightened Security: Biometric data is incredibly difficult to replicate, adding a robust layer of security and fraud protection. We now have a big problem with customers making transactions, paying by card, and then claiming it was not them. I had one client whose credit card was stolen, and by the time she found out, which was less than an hour, her card had been used in thousands of dollars of transactions.

The Disadvantages for Retailers

I confess I do not see any.

Still some issues to chew on would be:

• Cost: The readers may be expensive, and who pays for these palm scanners may be an issue.
• Integration: I do not see any potential integration issues with our point-of-sale systems, but if you do not use our POS System, you may want to make some enquiries.
• Privacy: I think we all feel a general uneasiness about our privacy. Mark Zuckerberg from Facebook once said the age of privacy is over, and he is probably right. Still, it's tough to accept this fact.
• Training: We all need to be trained on how to use it until we all get used to it. I can see someone using the wrong hand and not knowing why it is not working.

What Aussie Retailers Should Do

• Get Informed: Stay up-to-date on the latest developments in biometric payments.
• Monitor Customer Sentiment: Gauge your customers' comfort level with biometric technologies. Their openness will factor into adoption.
• Prepare for the Future: While immediate implementation is not necessary, consider how your payment infrastructure could adapt to support biometric options in the future.

The Takeaway

Palm-based payments and biometrics as a whole are set to transform the way we pay. While the timeline of widespread adoption in Australia is uncertain, being informed and prepared positions your retail business for success in this evolving landscape.