Running a successful retail business means ensuring every product on your shelves earns its keep. This is not easy. You know the items are ringing up the most sales. What is more challenging is to see if the slow sellers are boosting revenue by selling other products. This is where your point of sale software's Stock Companion Report can help.

Measure An Item's True Value

Go to Cash Register Reports > Sales Register > Stock Companion Sales by Period. See the green arrow below.

Select the stock item, put in the last 12 months, and you will get a detailed report listing profit, numbers, etc. 

You'll get a detailed report showing the item's profit, sales numbers, and more. With this data, you can evaluate whether a slower-selling product with low direct sales attracts customers who purchase other higher-margin items.

Insights for Smarter Merchandising

One client used the Stock Companion Report for dry cleaning. This service had low profitability, so they debated whether to keep it, but they found it brought in good customers who bought other products. So they kept offering it.

The Stock Companion Report is just one example of how our POS software arms you with the insights you need to optimize your product mix. Slower-selling items may be necessary to attract foot traffic and complementary sales. Understanding these hidden contributions lets you make informed merchandising decisions that maximise your total store revenue.

Let our POS system provide the robust reporting you need to understand what's driving your sales. 

This is just another example of how our POS System provides you with stuff you can use. Call us to learn more.

Studies have shown that if you reduce a price, you are better off using a price-off amount rather than a percentage-off. So **price-off discounts beat percentage discounts for driving sales in retail.** I know this may seem counterintuitive, but stick with me here. I'll explain why opting for a concrete dollar over a vague percentage is the more intelligent move for your brick-and-mortar shop.

First off, percentage discounts don't speak to customers. Sure, 10% off sounds impressive in theory. But without a calculator, how many folks can instantly compute the actual savings in their heads? Not many! And even if they can do the math, that extra mental effort creates a barrier. 

Consider this: Instead of announcing a price reduction of 10% on a $10 item, you are better off announcing a price reduction of $1. 

In both cases, the price was reduced from $10.00 to $9.00, but the $1 is real, and 10% is not. 

Now we're talking. **Customers get that - no fuzzy math is required.** A concrete dollar amount is both real and motivating. It's an instant win rather than a puzzle to solve. With a set dollar amount, the deal clicks. No, memorizing the original price, no multiplying - just a straightforward new lower price. 

Okay, you're convinced that price-off discounts are the way to go. But how do you set them up in your point-of-sale system? Don't sweat it - it's a piece of cake:

1. Tap the "Discounts" icon on the main screen (see red arrow in diagram above).
2. Select the "Price-Off" option.
3. Punch in the dollar amount, like $7.
4. Choose which products get the savings. 
5. Hit "Save" and you're done!

Your customers can get communicated, math-free discounts. 

Here is how you can do this at the point of sale. See the diagram above where the red arrow points. This discount can be set up to be preset, so it is one button handling.

Note that if you mucked it up by changing the prices and want to start again, press the F7 button.

As a modern retailer, you likely spend long hours working your POS system. Ringing up sales, managing inventory, and analysing data happen on the computer. But sitting at an improperly set up workstation all day can take a toll over time.

Recently, I had a client who had big legal problems resulting from an employee complaining about her suffering headaches and eyestrain due to a poorly set up POS area. Unhealthy computing does increase injury risk, lost productivity, errors, etc. Here are some simple ways of making some changes that can prevent these issues.

So, let us review some easy ways to optimise your health, comfort, and productivity POS area.

Ergonomic Chairs 

Consider you sit on a chair looking at a computer for a long time. It would be best if you had a chair designed for long periods of sitting and watching computers. Both these types of chairs are useful. If so, try chairs yourself before purchasing. From personal experience, I do not trust online reviews. Everyone has a different body; what works for one person does not work for someone else. You will spend long hours of daily use, so you need adjustable lumbar support, which is essential as joint back pain and poor posture are common. Also check the seat depth, armrests, back angle, etc for your needs..It is best to invest in an Adjustable Chair.

It used to be that gaming chairs were just overpriced for the name compared to office chairs. This is no longer true, so I would not reject a chair just because it was named a gaming chair today. Besides, gaming chairs look so cool.

I like mesh-backed chairs as I like breathability.

I use a game chair in my office at home and an office chair at work. 

The key is to get an ergonomic chair that works for you.

Position Your Chair Properly

Having the chair too close or far from the monitor is common. Generally, 55 cm away is ideal, but test different distances to find what works for you. You're probably too far back if you're frequently straining or moving your head to see details.

Take Regular Breaks

It's tempting to work non-stop when you're solo. But taking short breaks to stand, stretch, and look away from the screen will prevent headaches and eyestrain. I find taking a short break every 30-60 minutes helps. Even standing up and walking around for a few minutes can help rest my eyes and body. Some people set up timers so they do not forget.

Also, drink plenty of water; dehydration is a common problem with prolonged use of computers. It causes headaches, among other things.

Screen Height

Position the monitor so your eyes are looking slightly downward when seated. Having to tilt your head up excessively leads to neck and shoulder pain. Try raising the monitor with a book or stand if it sits too low.

Monitors

I believe old monitors are just asking for trouble if you use them for an extended period; they do not address current issues like glare and screen flicker.  Use them for places where you only do short times. 

It would help if you focused on critical features like anti-glare, blue light reduction, and large enough text size/screen size.

Also, dust your monitor regularly to reduce eye irritation from particles or smudges on the screen.

Consider a Curved Display

Curved screens follow the natural focus of your eyes, reducing fatigue. When buying a new POS monitor, this design may be worth the investment for your health.

Lighting

Ensure you have adequate, indirect lighting that doesn't cause glare or reflections on your screen. Fluorescent lights can cause eye strain. Consider an adjustable lamp that you can adjust as you feel the need.

Try Blue Light Reduction Software

Some claim that programs like Flux, which change the monitor's colour and brightness to emulate natural light, ease their eyestrain. It does not work for me, but you may want to check it out to see how it goes for you.

Conclusion

Making a few minor tweaks to your POS workstation setup can go a long way in preventing health issues and keeping you energized. Your comfort directly impacts your ability to deliver excellent customer service as a one-person show. So be sure to optimize your workspace with ergonomics in mind.

As a retail business owner now, it will be many months before you know how your business travelled in 2023. Here is a quick method to check and compare your yearly sales figures.

Year-over-year comparison

First, pull total sales reports for the past few years. For example:

Go to register reports.

Now select the item marked "Sales Comparison for a Given period".

Note you can do it by a supplier, but that can be done later when you have more time for detailed analysis. What we are doing here is getting a quick idea.

1) Put in here the dates 

01/01/2022 to 31/12/2022 AND 01/01/2023 to 31/12/2023

This will take you a few seconds. Then you will get detailed information showing how you went in 2022 compared to 2023.

Write down some key figures. on the report that you wish to measure.

2) Now go back in and run the report with 

01/01/2020 to 31/12/2020 AND 01/01/2021 to 31/12/2021 

You now have four years of information to study. This should give you a pretty good idea of how your business travels now. I find drawing a graph of sales shows me a clear picture. I hope these figures went well for you.

Sales trends

Say, for example, I have figures like this 

• 2020 total sales: $450,000
• 2021 total sales: $485,000
• 2022 total sales: $510,000
• 2023 total sales: $560,000

Compare the totals to identify upward or downward sales trends over time. Steady yearly growth suggests your efforts are working.

Evaluate Suppliers Sales

Use the same method except this time to break down sales by your suppliers month-by-month.

See how the supplier is doing for you.

Compare Operational Factors

Now, some questions to ask yourself.

• Did you expand hours, staffing, space or inventory?
• Did you run more promotions or advertising campaigns?
• Did you add or remove product lines or services?

Data-driven decisions

Use this to make data-driven decisions for your business to move forward. See what is working, what’s not, and where your retail business needs to head next. Let data guide your strategy. Turning those sales insights into concrete actions to improve your future performance is vital. Let the data direct you toward new opportunities for sales, traffic, and profit growth in 2024!

The managing director of Kmart Group Australia, Ian Bailey, talked about Kmart's strategy in today's challenging retail landscape here. I think it is relevant to many of our clients. 

While large retailers often seem intimidating because of their size, they are filled at least at the top with very smart, highly experienced people who are measured by their success. These large companies have plenty of money to experiment and do experiments. I have noticed that many of my most successful clients are those with backgrounds in large businesses.

Because these retail giants are always learning, they can provide valuable lessons for retailers of all sizes, so its worth listening to them:

Customer experience

What Kmart seees as significant to this, is its commitment to price consistency. They don't do frequent sales or "percentage off" gimmicks. Bailey feels this reduces customer anxiety about getting the best deal. Shoppers shouldn't wonder, "Will prices be lower next week?" 

Inventory management

By aggressively pursuing production and operational efficiencies, Kmart tries to keep costs low. This, they feel, translates into lower prices for customers.

Their stores only hold about one month of stock at a time, turning inventory over 12 times yearly. What are your stock turns?  You can find out here.

Knowing exactly what stock they have at all times is critical to Kmart. They measure inventory accuracy daily, even using robots daily, how often do you measure?

I can tell you that lower inventory volumes reduce costs.

Quickly Correcting Mistakes

Bailey admitted Kmart experiments frequently, and sometimes they pull back initiatives that aren't working. For instance, they recently removed barbecue grills from their product mix, spreading out other categories instead. They recognized this as a mistake and fixed it quickly. Be agile to innovate, measure results and do not be afraid to admit you were wrong and correct.

The Relevance of Brick-and-Mortar

Despite the web, physical retail plays a major role. Bailey noted that 60-70% of Kmart shoppers browse online but buy in-store. Stores enable customers to see and touch products as well as provide immediacy.

Do not underestimate a physical shop today.

Agile management

In closing, Bailey emphasized that organisations thrive by keeping people connected to the company vision, continuously improving through innovation, data-driven decisions, and demanding accountability. These cultural values of agile management and cost control drive performance.

Let me know if you have any other thoughts on this!

NPS is commonly called the ultimate question in business, and I am sure that you have come across this question. You can read about it here in the Wikipedia.

It is a straightforward, objective, and powerful tool to measure a business client's satisfaction. It gives a widely used number; since it is widely used, the results can be benchmarked. That is why we have used it for many years.
 

NPS survey

We recently conducted a Net Promoter Score (NPS) survey of our customers, and we are excited to share that our latest Net Promoter Score (NPS) is 66 !

This puts us in the “excellent” range for Customer satisfaction and Customer loyalty. As a point of sale (POS) software to retail, this score reflects very positively on our products and customer service.

How Our Score Compares to the Industry

An NPS above 50 is considered excellent for most industries. However, POS software companies like ours tend to score much lower, as it is generally about 9 for Internet, Software & Services, so for POS software specifically, a score of 66 is fantastic. It indicates we have very happy customers.

The Score Shows Our Progress

Just as important to us is tracking our progress over time. We’re proud that our NPS has increased steadily from 40 in 2018 to last year 57, almost three times what an average IT company got then to now in the 2023 year 66. This upward trajectory demonstrates that our efforts to improve the customer experience are working.

Our Key Takeaways

Scoring a 66 NPS as a small POS software provider is an accomplishment our team is proud of. The score demonstrates we deliver an excellent customer experience. 

PS I recommend that you conduct an NPS survey to find your score in your business. In retail in Australia, you want to get 31.

What you will notice is that if your computer is running slowly, and we or someone else gives it a preventive maintenance service, it now runs faster. Temperature is a common reason for this happening.

What happens here is that one or more of your computer's cores which are the brains of your computer overheats. Once a core goes over its maximum temperature, the computer slows it down. This is to avoid causing permanent hardware damage. Your computer, which is an i9 starts running like an i5, an i5 like an i3 etc. What is happening is to try to prevent damage, it slows down. It can get worse than this as nothing in a computer likes high temperatures.

So let us discuss the signs of overheating, methods to check your computer's CPU temperature, and troubleshooting tips to improve cooling and prevent heat buildup. 

Signs Your Computer May Be Overheating

Generally speaking, if your computer is running too hot, you will see things like:

>Slow performance - This is the most common sign.

>Loud fan noises - The fan often will be spinning at high speeds to remove heat

>Random crashes - Suddenly, your computer just stops working. You turn it off for a while, and it works like normal.

>Video on the monitor suddenly looks bad, this can be very serious as video cards are now some of the most expensive parts of computers today.

Don't ignore these warning signs!

Testing your computer

If you are worried about the temperature, I suggest downloading a temperature-checking software, CoreTemp. This is one of the best temperature tools for computers. You can get it here. Now let it run for a bit and see what it says the temperature is for each of the cores. If you see that they are

Recommended CPU Temperature Ranges

This gives you one core but in your hidden icons at the bottom right you can get all of them.

Here are some general CPU temperature guidelines:

• Below 60°C - Temperatures are normal. No action is needed.

• 60-70°C is an acceptable range for a computer running.

• 70-80°C unless you are doing a lot of work on the computer and then only for a short time, it would be too hot

• 80-90°C - Too hot! Take steps to improve cooling immediately.

• Above 90°C - Danger zone. Risk of throttling or damage. Act now!

Computer CPU cooling

If your computer is running too hot, there can be many factors as to why; here are some points:

Clean Out Dust Buildup

It could be that dust has built up too much in the computer. This is a common problem in POS Systems, which work in dusty environments. The dust blocks the air coming in and as a blanket covering the computer parts, causing overheating. If so, clean up the dust. 

Thermal Paste

The thermal paste that protects the cores may need to be reapplied. This actually requires technical skill to do this, do not do this unless you know what you are doing.

Core came out

The cores may be loose, and sometimes they need to be pushed in again this requires some technical skill to do.

Cooling System

It may be that your cooling system has degraded or is not big enough; they may need to be replaced. Often today, cheap computers are sold with cooling systems that are too small.

Computer position

It could be where your computer is placed.

> The area could be too hot.

> Another problem is that it may obstruct airflow - if the cold air cannot get inside the computer, it cannot cool.

In this case, a simple movement may do wonders for your computer. 

Next step

Now, if it is still a problem, what will need to be looked at next is the cooler installation and the thermal paste. For most of us, this needs professional help. 

High CPU temperatures lead to poor computer performance and can seriously damage components. Keeping a close eye on your processor's heat levels is essential for preventive maintenance.

Don't let the heat take down your computer!

Stay cool!

Today, a successful retailer needs to have your finger on your sales and inventory instantly; for example, sometimes you need these figures instantly, e.g. how much money is in the till NOW, what departments are NOW selling, are items being scanned NOW, etc. 

Our point-of-sale (POS) software makes it easy and quick to see what's happening in your business now. Let us get into it.

Real-time reporting

Your POS system allows you to instantly analyze your sales data to see what's selling now. Here's how:

> Look for the "Sales Analysis" button on your cash register. It's usually on the second page towards the bottom.

> You'll see a screen with plenty of analysis and figures. As I am interested in today's sales analysis, so I press the button marked with the orange arrow (see below)

Experimenting with these filters lets you instantly see what products or departments are hot sellers today.

It is worth experimenting to work out what is happening. These are Actionable data.

And this is just the beginning.

Once you have done that, check out the other buttons. These give you other types of critical information.

This gives you a massive database of instant reporting information that provides insights into your shop situation.  Try it.

Dive Deep into Key Performance Indicators

In addition to sales data, your POS reporting provides more critical inventory-level KPIs metrics, employee performance, and more.

> View reports on stock levels, bestselling items, and employee sales totals.

> These figures help you identify what's working so you can do more of it. They also reveal problem areas you can improve.

Make Data-Driven Decisions

With the powerful reporting tools built into your POS system, you have the insights you need to make intelligent, data-driven decision-making for your business instantly.

Start using your POS reporting to gain real-time insights into your business. With your finger on the performance pulse, you can flexibly respond and make changes that drive growth.

Australian retail turnover rose 2.0 per cent (seasonally adjusted) in November 2023, according to figures released today by the Australian Bureau of Statistics (ABS).

Robert Ewing, ABS head of business statistics, said: "Black Friday sales were again a big hit this year, with retailers starting promotional periods earlier and running them for longer, compared to previous years.

“The strong rise suggests that consumers held back on discretionary spending in October to take advantage of discounts in November. Shoppers may have also brought forward some Christmas spending that would usually happen in December." 

Okay, accepting that the latest retail sales number did show a robust 2% monthly growth, but it may be distorted by the increasing popularity of Black Friday sales in November. More about that later. 

One bit of good news is that this shows that consumers are still spending despite higher interest rates. Our strong job market certainly helps this. We will need to see the December figures to see whether it's simply that consumers are spending more or that all they are doing is bringing forward their purchases from December to November.

Black Friday sales impact on Australian retail

Black Friday sales have become an increasingly prominent retail event in Australia over the past decade. Originally from the US, it has evolved into a much larger affair in Australia. Black Friday has become mainstream in the past ten years, changing to a "Black November" event in Australia. Rather than just a day,  retailers now run week-long or even month-long sales promoted under the Black Friday banner. See this graph for the past ten years of November growth.

The future of Black Friday in Australia

Black Friday will remain a prominent retail event in Australia, especially as more consumers become conditioned to expect big sales in late November. Retailers should continue to expand Black Friday promotions to maximise sales. Today, many shops open on the Black Friday public holiday to capitalise on foot traffic.

As a retailer, you'll sometimes need to add notes to specific transactions. Our user-friendly POS software makes this easy - providing clarity and context when needed.

Why Add Notes?

There are many reasons you may want to add notes to a transaction in your POS system:

• The item is damaged or defective, sold AS IS
• The product has no warranty
• The product is sold under some strict conditions, e.g. not for use in Australia.

It's an irregular transaction that needs an explanation to be recorded, so adding a note provides important details that give context to the transaction. This additional information can be invaluable if there are ever questions or disputes about that sale. This can be very important for customer satisfaction.

How to do the Note Taking

Our POS software allows you to add notes to any transaction seamlessly.  When ringing up the transaction, in this case, a return, there is an item on screen *Change Description* If this is pressed, you can see another option on screen *Attach as Note*.

Now, in this case, I wrote, "IT WAS BROKEN."  see where the red arrow is.

Once the return or transaction is saved, you have a complete reporting and analysis available. For example, in finding registered transactions in the cash register,

I am looking for this refund, which was done almost eight years ago.

See I am able to search for this transaction with a wide range of filters.

And here is a report of the books with the broken covers and I can find the one I am looking for.

The person looking at the transaction history will see that the book was broken, probably torn.

Enhanced Reporting and Search

The ability to add notes enhances the reporting and analytics capabilities of our POS system. Having the extra transaction details allows for more precise sales data and tracking.

Searching transactions is also simplified. You can easily filter and find specific sales using the notes field, for example, pulling up all transactions with notes mentioning 'damaged', 'discount' or 'clearance'.

Insights for Better Decisions

Detailed reporting using notes ultimately helps you make more informed business decisions. You can analyse irregular transactions to adjust buying patterns or staff training. Identify best-selling clearance items that should be reordered. Gain insights from customer purchasing habits and preferences.

Our POS software gives small retailers like you the tools to gain value from your transaction data. Empower your business with robust features for notes, reporting and analytics. We make it easy to access the information you need to satisfy customers, streamline operations and drive growth.

Insights for Better Decisions

Detailed reporting using notes ultimately helps you make more informed business decisions. You can analyse irregular transactions to adjust buying patterns or staff training. Identify best-selling clearance items that should be reordered. Gain insights from customer purchasing habits and preferences.

Standard Note Templates

To speed up the process and help you to find them consider making a dictionary of common notes. Then you can create standard note templates in the system. 

Training Staff on Notes

Train staff on proper procedures for adding notes. The notes are only helpful if they accurately and thoroughly document each unique transaction situation. Set clear expectations and guidelines.

Our POS software gives small retailers like you the tools to gain value from your transaction data. Detailed notes drive reporting, analysis and customer satisfaction. Let us make note-taking easy so you can focus on your business.

Conclusion

This is just another example of how POS Solutions software is giving retailers more in their software.

Frequently Asked Questions

Why should I add notes to transactions?

Adding notes provides essential context and details about irregular transactions. This clarifies the transaction record and provides transparency if questions come up later.

What kinds of transactions need notes?

Notes are helpful for any exceptional situations like damaged/defective items, clearance markdowns, customer disputes, etc. Anything out of the ordinary.

How do I add a note to a transaction?

When ringing up a sale, select the "Change Description" button and choose "Attach as Note". Type your note explaining the transaction, which will be saved with the record.

Can I view and edit notes later?

Yes, you can view and edit notes on the transaction details screen anytime. Notes can also be accessed through transaction reports.

How do notes help with reporting and analysis?

Notes allow for more detailed sales data and tracking. You can search and filter transactions using keywords from the notes field.

Should I create standard note templates?

Standard templates for typical notes can save time and ensure consistent entries. It makes it easier to find as well.

How should I train staff on note-taking?

Set clear guidelines and expectations for note-taking. Ensure staff are recording notes that fully explain unique transaction situations.

How can notes help my business decision-making?

Insightful reporting using notes allows you to spot trends, adjust practices, identify top products, understand customer preferences and more.

Why are notes important for customer transparency?

Notes reduce disputes by providing clear documentation visible to the customer on any irregularities like damages, discounts, etc.

Most of your suppliers have large numbers of items on the catalogue. Even many small clients of ours would be selling actively over a year, selling over 43,000 lines. Your point of sale (POS) software can quickly give you a list of your inventory management. Smaller retailers sell less than large retailers but sell the same goods. That is a lot of work if you order once a week to handle it. Just calculate how much it costs you now to order stock.

Those who do not computerise it tend to do much of the ordering on gut feel and memory.

However, getting it right is critical to retail business success as we need to get the shoppers what they want and when they want it. This is particularly difficult if you deal with products with high decay, e.g. popular magazines, fresh food, etc., because then we have the problem of availability vs waste.

Inventory management is one of the most critical operations in retail. Ensuring adequate stock levels to meet customer demand takes careful planning and excellent forecasting skills. For most retailers, the replenishment process involves a lot of manual work, guesswork and frustration. But our POS Software offers a better way – retailers can revolutionise inventory management by automating replenishment.

The Challenges of Manual Replenishment

Traditionally, reordering stock is an entirely manual process for retailers. Staff pore over existing stock and review the massive catalogues from various suppliers to select items and quantities to purchase each week. This tedious approach to Retail inventory is problematic for several reasons:

Guessing Order Quantities

Without scientific forecasting, employees guess at order amounts based on intuition and memory. It’s virtually impossible to predict demand across an extensive product range this way accurately.

Time-Consuming

Manually calculating and entering purchase orders can take days of staff time every week. As the business grows, more labour hours get eaten up by this low-value activity.

Risk of Stockouts

Guessing order quantities often leads to stockouts when demand exceeds forecasts. Out-of-stocks result in missed revenue and poor customer experiences.

Excess Inventory

Just as dangerous, overestimating demand frequently causes overstocking. Excess inventory leads to higher carrying costs and waste.

Unbalanced Supply Chain

With no real-time visibility or coordination, discrepancies between inventory levels and supplier ordering accumulate over time. This strains the supply chain.

Imprecise Tracking

Lacking any automated analysis, inventory tracking relies on employees manually monitoring and recording stock counts. This is prone to error over a large catalogue.

Automated Replenishment

It looks at your sales history, forecasts current demand using Demand forecasting, and creates the ideal stock quantity you require now. 

If you order frequently, the amount of stock you need until the next reorder is less. It then compares this figure to the actual stock-on-hand figure you have, adds some safety stock, considers the ordering requirement of each supplier, and prints or issues a stock order with almost no work.

This reduces your holding costs, as you are not holding much stock.

You will save a lot of time, and your shop will undoubtedly do a better job of it.

Our automated inventory management platforms provide a sophisticated solution to these challenges. By using smart forecasting algorithms and inventory sensors, they streamline replenishment to optimise stock levels.

Forecasting

Replenishment systems automatically collect sales data and use machine learning to detect demand patterns for every product. Granular forecasts maximise availability while reducing excess inventory.

Flexible Reordering Strategies

The software allows setting custom reorder points and lot sizes tailored to the demand profiles of each item. Strategies like Min/Max and Just in Time are easily implemented.

Continuous Monitoring

Real-time inventory tracking provides complete visibility across the entire catalogue at all times. The system knows precisely when to trigger reorders to align with demand.

Streamlined Procurement

Purchase orders can be automatically generated and sent to suppliers when stock hits reorder points. This eliminates manual order creation work.

Optimised Delivery Logistics

Our replenishment systems can coordinate with your transport providers to help schedule deliveries.

Enhanced Supply Chain Visibility

Stock sales and holding information provide end-to-end transparency across the supply chain. Any bottlenecks or issues can be rapidly identified and addressed.

Evaluating Replenishment Automation Systems

With many solutions now available, choosing the right replenishment platform is critical. Here are the essential capabilities to look for in assessing systems:

Inventory Monitoring – real-time tracking across all stock items in your warehouse and shop with detailed inventory analytics.

Forecasting Accuracy – advanced AI with machine learning and statistical algorithms to maximise the forecast precision.

Order Optimization – balancing target inventory levels, supply constraints, logistics costs and supplier requirements.

Analytics & Reporting – actionable insights into sales, stock levels, supplier performance, waste reduction and other KPIs.

Customer satisfaction  – By better inventory best practices, you increase customer service.

The right solution will tailor the capabilities to your business’s specific needs and allow custom configurations. 

Our Point of Sale platform provides the most flexibility, scalability and hands-off maintenance.

Realizing the Benefits of Automated Replenishment

Implementing a robust inventory management system unlocks enormous benefits:

Increased Sales

By aligning stock levels with demand and minimizing stockouts, automation enables higher sales and conversions. Customers can find the products they want every time.

Lower Inventory Costs

Carrying excess stock ties up working capital and incurs storage, handling, insurance and spoilage costs. Automating replenishment optimizes inventory investment.

Improved Efficiency

Automation eliminates the hours of manual work traditionally required, allowing staff to focus on more value-added priorities.

Enhanced Forecasting

Automated algorithms crunch enormous amounts of data and detect subtle patterns more accurately than humans. Forecasts improve continuously through learning.

Reduced Waste

Intelligent inventory management avoids overstocking and enables dynamic pricing of perishable goods or expiring products. This cuts waste costs.

Supplier Relations

As a retailer, you are at a disadvantage. Suppliers have far more visibility into true consumer demand and know much more about their product sales in your shop. This allows them to dictate terms around inventory management and delivery schedules to your shop.

Implementing automated replenishment finally gives retailers the data needed to rebalance these partnerships.

With an inventory management system tracking every product in real-time, retailers can gain visibility of their stock that exceeds suppliers' knowledge. You are no longer reliant on the piecemeal date suppliers share.

This allows retailers to optimise orders based on projected demand rather than supplier convenience. Suppliers must become more accommodating to fulfil the order quantities, frequencies and delivery windows specified by the retailer's replenishment algorithms.

Suppliers benefit from retailers sharing their sell-through data. But this is controlled - retailers decide what insights to provide each supplier. This prevents suppliers from misusing the data or acting contrary to the retailer's interests.

Automated replenishment flips the script on the retailer-supplier power dynamic. Retailers can finally dictate the inventory planning relationship rather than relying on supplier practices. This shift rebalances the partnership and benefits the retailer's bottom line.

Start Your Automated Replenishment Journey

If managing inventory still feels like a guessing game rather than a science in your operations, it’s time to explore automated solutions. The technology is more accessible than ever. Replenishment automation unlocks data-driven inventory management, allowing retailers to thrive.

Contact our team today to discuss the best options for your business!

As a business owner, you likely want to participate in online conversations. However, you often want to protect your privacy and anonymity. The problem is that many sites expect you to provide your profile photo. Then, with modern search methods, it will only take a few seconds for someone to find you using search engines' face detection once they have your profile image.

So, what many people do today is use a synthetic profile picture. This face allows them to participate online anonymously with a plausible face that often has features similar to theirs while keeping their real identity private. Today, these faces look convincing but don't belong to any actual person. I used it to join an online Zoom conference where I knew an old girlfriend might come, and I did not want to take a chance that she would talk to me. 

How to get one

There are many such services. The one I recommend is here.

I put my face in there, and out come many that look like what I want. Then, I pick one to use.

Conclusion

An AI-generated face lets you seamlessly blend into online communities related to your business without sacrificing your privacy. Be present online while staying anonymous.

We must look at 2024 realistically. It will be an Olympic year, but its already starting as very violent. There are 183 armed conflicts in the world, the highest figure in 30 years. 

In 2024, the economic conditions will remain challenging. According to forecasts from economists, economic conditions are expected to continue putting pressure on consumer spending. We can expect higher unemployment, inflation and higher living costs. This will make Australians more careful about discretionary purchases. This is concerning for retailers.

Key challenges on the horizon include:

• Cautious consumer spending across significant shopping periods as costs of living increase
• The Reserve Bank has made it clear it would bring us into a recession rather than see inflation get out of control. Those who remember the 1970s will know what they are worried about.
• Flat growth is anticipated in the year's first half as economic uncertainty lingers.
• Ongoing impact from issues like rising mortgage payments limiting consumers' budgets

Retailers may face these realistic factors while no one can predict the future. We must adapt.

Embrace technology to enhance the customer experience

There is no choice; everyone is going into more technology. Working smarter is not an option. 

POS systems provide benefits like:

• Quick transactions so customers spend less time waiting in line
• Loyalty programs to reward regulars and encourage return visits
• Inventory management to ensure the right products are in stock
• Analytics to understand buying patterns and tailor your offerings

Upgrading outdated cash registers with a modern, full-featured POS demonstrates your commitment to customers. It helps create a smooth, enjoyable shopping trip despite tight budgets.

Reach more customers through an omnichannel approach

The public is going more online. They now live online.

Another way to boost sales amid economic uncertainty involves leveraging multiple shopping channels. While your physical store remains vital, expanding your omnichannel strategy opens new opportunities.

Adding services like:

• Click and collect so people can order online and pick up in-store
• Home delivery for those unwilling or unable to visit in person
• Social selling through platforms customers already use daily

It gives consumers convenience and increases visibility. It allows your business to welcome both in-store and online customer groups. Done well, omnichannel increases the chances of making sales during any economic situation.

Focus on your strengths and community.

Play to your interpersonal strengths by cultivating strong community relationships.

Getting to know customers on a first-name basis builds trust over time. Also, participate in local events and initiatives to showcase your support. Customers are loyal to retailers who demonstrate care for the neighbourhood.

In tough times, these warm relationships may inspire customers to shop locally rather than elsewhere. Your dedication to the community will not be forgotten when discretionary budgets relax again.

While 2024 may bring economic uncertainty, small retailers don't have to feel powerless. With adaptability, technology and a client-first mindset, you can gain an edge regardless of outside conditions. The future is unwritten, so take proactive steps towards your desired outcome.

A message from your POS provider

It's hard to believe that 2023 is almost over. 2023 just flew. Over 2023, we've worked closely with many retailers across Australia. We've enjoyed learning about you and appreciating your vital role in community communities. 2023 brought both challenges and rewards. While global issues impacted supply chains and consumer spending, I'm continually impressed by the resilience of Aussie retailers. Through innovative promotions, excellent customer service, and community building, you repeatedly found ways to welcome customers through your doors. Bravo for your hard work and successes over the past year!

In 2024, we look forward to continuing our support and helping your businesses thrive. 

What's ahead in the new year?

2024 opens up exciting possibilities. Perhaps you'll expand your product range, renovate your shopfront, or try new marketing tactics. Our POS systems are ready to help you achieve your goals through features like:

Inventory management to easily track stock levels and reorder times
Point of sale reporting for sales analysis and profit tracking
Loyalty programs to reward regular shoppers
Advanced analytics to spot trends and target promotions
Better EFTPOS
Ominimarketing 

We also have new time-saving upgrades ready to roll out in early 2024. Stay tuned for details!

Reader, we wish you the best in 2024 for you, your staff and your family

Here's to 2024!

Regards

Bernard Zimmermann

Editor

Ring in the New Year with Inspiring Receipt Quotes

Adding an uplifting New Year's quote or message to your retail receipts is a creative way to spread cheer and goodwill this holiday season. Implementing this quick marketing tactic can help reinforce your brand image as one that cares about connecting with customers meaningfully.

Why Add a New Year’s Quote or Message?

• Spreads festive cheer and positive vibes during the holiday season

• Shows customers you appreciate their business and wish them well

• Sparks conversation about hopes and dreams for the new year

• Differentiates you from competitors

• Strengthens your reputation as a thoughtful, caring brand

How to Choose a Quote or Message

When selecting a New Year’s quote or message for your receipts:

• Do not worry about the length unless it is too long.

• Quotes that are hopeful, inspiring and forward-thinking work well.

• Avoid anything controversial or divisive

• Consider tying it back to your brand values or industry

Great options include:

• Famous New Year's quotes by people

• Upbeat messages about new beginnings and fresh starts

• New Year's resolutions that relate to your products or services e.g. lotteries

• Quotes about gratitude, optimism, or customer appreciation

Where to Display the Quote or Message

The receipt is the most direct place to put your New Year’s quote or message. But you can also display it:

• On your storefront window or door

• On your website or social media pages

• On signage in your retail space

• In email newsletters or print ads

Examples of a New Year’s Quote to Consider

"Cheers to a new year and another chance for us to get it right." - Oprah Winfrey

"The magic in new beginnings is truly the most powerful of them all.” ―Josiyah Martin

"New year—a new chapter, new verse, or just the same old story? Ultimately we write it. The choice is ours.” —Alex Morritt

I remember a time when a store slapped a Gandhi quote on my receipt. It sparked a discussion on the movie which a few in the queue participated. Nowadays, what about dropping some Oppenheimer or Barbie wisdom?

Need some inspiration? Check this site for quotes you can use. 

Spread Positivity in the New Year

Add a message to your receipts for this New Year to spark customer joy and appreciation. This simple marketing tactic can help set the right tone as consumers embark on a new year.