Today, EFTPOS payment plays a key role in retail! We need to hear your thoughts on what you need with FTPOS.

If you're a customer running our POS System, we need your feedback to help us create EFTPOS solutions tailored to your needs, making your business even more successful!

Understanding EFTPOS Integration

EFTPOS integration creates a direct communication pathway between your Point of Sale (POS) and payment systems. This seamless connection eliminates redundant data entry, reduces handling time, and reduces mistakes.

Why Your Input on EFTPOS Integration Matters

Implementing any EFTPOS integration is a significant investment for our team and your business. This goes beyond simply connecting a terminal—it involves creating systems that complement your workflow and work with the new system requirements errors. Each is a few months' work.

Prioritising Your Business Requirements

We want your priority for cost considerations, system reliability, support quality, contract flexibility, and feature availability. What factors are most critical for your business currently?

How Your Feedback Will Shape Our Development

Your survey responses will directly influence our approach to future EFTPOS integrations and determine which payment solutions we prioritise for development. It isn't merely a data collection exercise—your input will guide concrete improvements to our EFTPOS offerings for Australian retailers.

All responses remain confidential and will be used exclusively for service improvement.

Survey Completion Time

One minute!!!

We've designed the survey to take approximately one minute to complete.

Appreciation for Your Contribution

Your feedback will shape EFTPOS solutions that enhance efficiency, accuracy, and profitability for Australian businesses.

Thank you for partnering with us to create effective payment solutions.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

Let's talk Easter. It's almost here; frankly, too many shops leave money on the table during this peak trading period. It's a shame if you look at the splurge forecast's potential for Easter this year. Potential doesn't pay the bills. Making the most of Easter isn't about luck; it's about smart, decisive action based on facts, not guesswork. Do something to capture your share of the Easter spend!

The Easter Spending Reality: Know the Numbers, Then Act

Before we talk about strategy, could we clarify the fact? The Australian Retailers Association (ARA) and Roy Morgan have laid out the landscape for Easter 2025.

"According to data from the ARA and Roy Morgan, 6.2 million Australians are planning to use the Easter break for DIY projects around the home. Nationwide spending for this sector is projected to increase 27 per cent year-on-year to $6.7 billion."

While shoppers might be watching their wallets overall, they plan to spend. Your job is to align your shop with where the money is going.

Everyone is talking about the fact that Easter goods will be dearer in 2025 than last year. We can't do anything about it, but please be ready to answer people if it comes up. I doubt it will be hard to explain as they know about this problem unless they live under a rock.

Figures show that, on average, shoppers will have to spend about 9.5% more on their Easter chocolates than on Easter 2024. Interestingly, Darrell Lea, the brand of many of my customers in the market, has no price from what I could see.

Common Easter Retailing Mistakes (And How You'll Avoid Them)

Based on my experience working with countless retailers, here are the critical errors I see businesses make year after year during Easter. Avoid these, and you're already ahead of the pack.

Mistake 1: Ignoring the Data & using gut feel

Too many retailers rely on gut feelings and/or memory without checking the facts. That's just lazy. Do some research, particularly on food and chocolates. Your stocking decisions must reflect this reality.

Action

Dive into your Point of Sale (POS) system. Run reports like "Top Selling Items" or "Sales by Category" for last year's Easter period (use the two weeks leading up to Easter Sunday). See what is sold in your shop! Don't guess, but know!

Action

Use this data and the 2025 spending forecasts to place your orders. Look at proven sellers in the key categories (treats, DIY). Don't forget small items like themed decorations, small gifts and greeting cards. Put them where they will be noticed.

Mistake 2: Being Invisible

Potential customers will walk past your shop if people cannot see your Easter product. For Easter, they need an immediate, compelling reason to enter. Weak window signage or your generic display won't cut it. You must grab attention and scream to the world, "Easter products here!"

Action

Use bold, clear signage in windows and throughout the store. Announce your Easter specials, highlight key product categories (Easter treats, DIY supplies), and make your unique selling points obvious.

Mistake 3: Running Uninspired Promotions

Slapping a simple "10% off" sign-up is unimaginative and often erodes your margin. Customers are bombarded with discounts; yours must be more innovative and engaging to drive sales and increase basket size.

Action

Create an Easter Bundle.

Most of you have a loyalty program; use it!

Mistake 5: Flying Blind Without Your POS Data

It loops back to Mistake 1 above, but it deserves its point because it's fundamental. Your POS system isn't just for taking payments; it's your business intelligence hub. Failing to use its reporting tools before and during a peak period like Easter is like driving blindfolded.

Action: Deeply analyse last year's Easter sales data before ordering.

Need some ideas

See what worked last year in your shop

Go to Register reports.

Now pick "Top N Stock Sales for a Given Period."

Put in,, say,, two weeks before Easter 2024, and check them out

As these items worked for you then, they should work for you again this year.

Now look at:

-Top-selling products overall.

-Best-performing categories.

-Sales trends day-by-day (when did the rush start?)

-Average transaction value (can promotions lift this?).

Your Easter Success is 100% you.

Let's be blunt: Easter presents a significant opportunity. Whether you capture your fair share depends on preparation and execution.

Good luck, and make this Easter your most profitable yet.

Easter is a great day to shop in retail as the holiday season is short, but sales can be impressive.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

The toy retail market has always been challenging. Because trends shift rapidly, retailers must have sharp insights to succeed, as the trend graph below shows.

It did go down a bit recently, but it's expected to go up this year.

I was talking to a major buyer of toys in a large retail store, and here is his advice based on his experience. It's useful as it shares practical lessons from someone on the front line. Could you consider implementing his strategies to boost your shop's sales?

Lesson 1: Beware the Risks of Media Hype

Product hype, with media hype, can present a financial risk if the hype fails and consumer excitement does not translate into sales for some reason. A recent example that sparked this conversation involved the recent Disney Snow White dolls released alongside the film. Shortly after the film's release, we can see deep discounts on these dolls, which are widely appearing across major retailers. Look at the green arrow; you can see it's already at a 34% discount.

This rapid price reduction suggests that initial inventory orders have overestimated consumer demand.

Interestingly, this apparent overstock situation doesn't stem from dissatisfaction with the product. Early consumer feedback often highlighted the dolls' quality and design. Could you look at the red arrow highlighting what consumers thought of the product? 4.8 out of 5 is good. Instead, the poor sales appear directly linked to the film's disappointing reception. It shows that a well-made product can falter if the media it depends on underperforms.

Actionable Takeaway

Diversify inventory

Do not over-invest in recent trend-based items. Could you look at your good sellers and analyse your POS data relentlessly?

Strategic Ordering

Start with a small order for high-risk, licensed products. Reordering successful items is often less costly than discounting to clear unwanted stock at a loss.

Leverage Local Insight

Monitor your customer inquiries. Local demand is often a more reliable predictor than national forecasts. Again, your POS system is critical for tracking these trends.

Lesson 2: Look at LEGO

Contrast Disney's unpredictability with consistently high-performing brands like LEGO. LEGO always seems to sell; ask yourself why.

We thought it was because LEGO has extensive appeal. It is not just that while children are a core market, the brand also cultivates a massive and lucrative adult base. You can see this if you look at LEGO's tactics: with its limited editions and controlled releases, they do not just sell toys.

Actionable Takeaway

While securing LEGO exclusives might be difficult, focus on creating unique value propositions.

Target High-Value Niches

Consider courting adults as this 'kidult' market often has higher disposable income.

Create In-Store Exclusivity

Try to be unique in some way.

Bundles

Pair a popular toy with a related item, e.g. a book, craft kits, etc.

Strategic Promotions

Run limited-time, store-specific offers. I had a customer who brought some LEGO limited edition products based on space travel; they generated a lot of interest.

Look at the red arrows; they are not even targeted at kids. While you are at it, look at the price points.

Lesson 3: Target the Grandparent Market

What you can see in the toy market today is the growing financial influence of grandparents in toy purchasing. Today, they have fewer budget constraints than parents facing the rapidly increasing cost of living pressures. Grandparents today have significant spending power and a strong desire to treat their grandchildren. It makes them a crucial, high-value customer segment for independent toy retailers.

These grandparents prioritise durability, educational value, nostalgia, or finding that special 'wow' gift. They often buy from their memories, and your sales approach must reflect this.

Actionable Takeaway

Optimise your store and service model to get this lucrative demographic.

Accessible Store Layout

Make the physical shopping experience easy and pleasant for older customers.

Gift-Centric Approach

Offer attractive gift wrapping, create pre-made gift suggestions or bundles, and display items clearly as potential high-quality gifts.

Lesson 4: Fewer Kids, Fewer Hand-me-downs

There is a broad social trend now with our declining birth rates, which directly impacts the toy market.

Smaller families often mean fewer "hand-me-downs." Big Brother no longer has a little brother who can get his toys, which increases the need for more new toy purchases per child. Also, the budget per child has increased with fewer children. People buy fewer toys overall but spend more on them.

The market is shifting from quantity towards quality.

Actionable Takeaway

Prioritise well-made brand toys

Make this a key selling point in displays, signage, and staff interactions.

Justify Price Points

Do not shy away from higher prices for superior products.

Lesson 5: Educational Toys

Despite economic pressures and shifting trends, the demand for educational toys remains consistently strong. Parents seek developmental advantages, and grandparents favour toys offering substance beyond fleeting entertainment. It resonates powerfully across key customer segments.

Educational value is a potent, non-negotiable selling point that cuts through market noise. It aligns perfectly with the purchasing motivations of parents and, critically, the influential grandparent segment.

Do not forget educational toys.

Layout

Maintain a robust, diverse selection of science, arts and crafts, problem-solving, literacy, and imaginative play that builds cognitive or social skills. Use clear signage and shelf talkers to show educational aspects. Make it effortless for customers to find toys that teach.

Train for Authority

Could you make sure that your staff can confidently articulate specific educational benefits?

Conclusion: Thriving with Today's Independent Toy Retail Trends

The toy market presents undeniable challenges: unpredictable licensed products (Snow White example), the need to compete with giants (like LEGO, by adapting their strategies), understanding key demographics (grandparents), adapting to societal shifts (value focus), and meeting persistent demands (educational play).

Success requires decisive action. As independent retailers, your agility is your advantage. React faster than chains, curate stock based on your customer data, build genuine relationships (especially with high-value grandparents) and deliver outstanding value through quality and expertise.

Leverage your POS data to rigorously track sales and customer preferences. Understand these market dynamics. Reduce the hype risks, broad appeal tactics, key customer segments, the value shift, and educational demand. Make strategic inventory, marketing, and store experience decisions. Focus relentlessly on what works for your business to survive and thrive.

What's Your Next Step? Which of these lessons will you implement first in your store? Share your biggest challenge or success story related to these trends in the comments below!

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

Pricing products effectively remains one of the most challenging aspects of retail management. It's a problem. You get a product you have never handled; how do you price the item for sale now? Getting it wrong can significantly impact profitability and competitiveness. Many people today have suggested that the new AI Chatbots can help, but none, as far as I know, have shown any proof of this. So, to address this problem, we conducted a comprehensive evaluation of six free AI chatbots to assess their effectiveness in pricing recommendations for Australian retailers.

Our Testing Methodology

We tested a scenario of a small newsagency in Keysborough, a typical Melbourne suburb located in a strip shopping centre. The test focused on pricing a specific product: a Pilot Frixion Ball Erasable Gel Pen pack containing three pens (black, blue, and red) with a fine 0.7mm tip using only free CHATbots.

Why only Test Free AI Tools for Stock Pricing?

We restricted the test to free AIs because most retailers are only now experimenting with AI chatbots. Few have purchased an AI Chatbot plan, whose costs now vary from about $25 to $200 plus GST (I have a customer who uses AI in our POS Software and runs a bill of up to $10 daily). Once you get into paid plans, there is a massive difference in what you get.

Free tools can offer an accessible starting point, but not everyone is equal for all tasks, as you will see here.

So, we limited our evaluation to these six popular free AI chatbots:

ChatGPT (OpenAI)

Claude (Anthropic)

DeepSeek

Google AI

Grok 3

Qwen

We wanted to test meta AI, which had announced a significant update, but unfortunately, it was not available when this report was written.

After multiple iterations to refine our approach, we developed a standardised prompt that described the retail location, business type, and product specifications. We then evaluated each chatbot's response based on nine key performance indicators. It all took a lot of time.

Evaluation Framework

Each AI tool was assessed across nine KPIs, with each scoring out of 10, giving us a maximum possible score of 90.

Quality of Information

Accuracy and relevance of data regarding the product, competitors, and market conditions

Usefulness

If the advice is impractical, what is the point of getting it?

Clarity

We are all busy people; we need something well laid out and comprehensible.

Actionability

We wanted clear, implementable recommendations

Accuracy

AI Chatbots do make errors and mistakes. We want correct information on costs, retail prices, and market trends

Adaptability

Not surprisingly, we found that to price appropriately in local retailing, the advice needs to be for a specific location and a store's customer demographics

Depth of Analysis

Besides price, we would like advice on various pricing strategy aspects

Creativity

It would be lovely to get information on innovative suggestions for marketing, e.g. bundling, promotions, or other sales strategies

Customer-Centric Approach

Not all customer segments react to pricing similarly, so we want to know how each responds. You rarely care if you get too much information.

Results Summary

The performance of each AI chatbot is summarised in the table below:

Notably, the top three performers delivered remarkably similar price recommendations, suggesting a similar practical use by a retailer on the top tools.

Detailed Analysis of Each AI Tool

1. Google AI (Score: 87/90)

Strengths:

• Provided accurate pricing recommendations based on local competitor analysis, correctly identifying Coles' price range of $9.50–$14
• Suggested appropriate margins of 35–50%, aligning with industry standards
• Delivered a logically structured report with clear reasoning

Areas for Improvement:

• Some sections contained overly technical markup calculations that would be challenging to understand.
• User interface could be more intuitive for retailers without technical expertise

Key Insight:

Google AI excels at tracking and analysing local competitor prices, making it highly effective for crafting a pricing strategy.

2. Qwen (Score: 83/90)

Strengths:

• Proposed innovative bundling strategies, such as pairing pens with notebooks at $12.99 to increase perceived value
• Included practical promotional messaging suggestions (e.g., "Save $1 vs Coles!")
• Presented information in an accessible, actionable format

Areas for Improvement:

• Assumed a wholesale cost of $6.50, which appeared to be unrealistically low based on market research

Key Insight:

Qwen's focus on bundling opportunities and targeted promotional strategies makes it particularly useful for retailers looking to maximise revenue through upselling techniques.

3. Grok 3 (Score: 81/90)

Strengths:

• Provided detailed customer segmentation analysis, correctly identifying pensioners as a key demographic in the Keysborough area
• Recommended a four-week price testing strategy to refine the pricing approach based on actual sales data

Areas for Improvement:

• Suggested profit margins were lower than industry standards
• Report contained unnecessary repetition

Key Insight:

Grok 3's demographic analysis capabilities make it particularly valuable for retailers to align pricing strategies with local customer profiles.

4. DeepSeek (Score: 65/90)

Strengths:

• Effectively highlighted product features (such as erasable ink) as unique selling points
• Suggested strategic product placement near complementary items to encourage cross-selling

Areas for Improvement:

• Recommended pricing ($12.99–$13.99) significantly exceeded competitor rates
• Technical terminology like "left-digit effect" was used without explanation. A left-digital effect charges a $10 item as $9.99. Did you know that? We did not know until we looked it up.

Key Insight:

DeepSeek appears better suited for premium or specialty product pricing than standard retail items with established market positioning.

5. ChatGPT (Score: 58/90)

Strengths:

• Provided a well-written, easily comprehensible report

Areas for Improvement:

• Wrong information, e.g. it inaccurately estimated competitor pricing ranges
• Did not check the local pricing of the product
• Lacked depth in analysis and failed to provide sufficiently actionable recommendations

Key Insight:

In our test, ChatGPT's generalist approach proved inadequate for the nuanced requirements of a retail pricing strategy in a shop in the Australian market.

6. Claude AI (Eliminated)

Claude AI was disqualified from the final evaluation due to its inability to access real-time data and lack of localisation features for the Australian market, rendering its recommendations useless.

Key Findings and Implications

If looking at an AI Chatbot, you need to look at:

Real-time competitor analysis

You will not be able to do a good job of pricing if you do not have local information; this led to a pricing recommendation by ChatGPT that was disconnected from market realities.

Value-added bundling recommendations

Does it offer ideas to sell the product

Demographic-specific insights

In most shops, there are several different customer demographics, and these when pricing needs to be considered.

Overly technical presentations

Some Chatbots made us feel that the complexity was excessive, making the report difficult even though we told them not to make it complex.

Conclusion and Recommendations

For Australian SMB retailers seeking to use AI tools for pricing, Google AI, Qwen and Grok 3 emerged as the best due to their accuracy in competitor tracking and logical approach to margin calculations. Any of these can do the job well. If I were pricing an item and wanted some advice, any of these three Chatbots would give me good advice. As there must be a winner, Google AI won.

If you are interested in looking into this technology, I would suggest:

1. Testing multiple free AI tools to identify which best aligns with your specific business needs
2. Please don't assume the chatbot knows your local market conditions; the more you tell it, the better. You are better off assuming nothing.
3. Check the AI report, as wrong information was sometimes supplied.
4. Gradually expand your AI Chatbot over time.

This research demonstrates that free AI chatbots can provide valuable pricing insights for Australian retailers, though their effectiveness varies significantly across tools. By selecting the appropriate AI assistant and providing relevant contextual information, retailers can enhance their pricing strategies without investing in expensive subscription services.

Have you tried any of these tools yourself doing this type of test? Please share your experiences in the comments below!

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

You get a good internet plan, and your internet provider says it is fast. They get you to run a speed test, and it shows your internet connection is quick, but really, you do not see it. It is common for people to feel that their internet is slow even though everyone tells you it is fast. I got such an enquiry yesterday. No one likes to wait; reliable internet isn’t just a convenience. After all, it’s essential for keeping your business running smoothly.

The Limitations of Internet Speed Tests

People seem to expect too much from these tests. What internet speed tests do is measure your connection under ideal conditions. They don’t often reflect the complexities of real-world internet usage. Here’s why:

Local Testing

Speed tests will often connect to servers geographically close to your location, thus minimising delays and avoiding congestion when connecting to more distant places. Usually, large internet providers use their speed test servers within their networks. These problems cause artificially high results. Also, some providers deprioritise types of traffic that they think can wait. As a result, your speed test might look great, but your experience is much slower.

Simplified tests

Speed tests rely on consistent, high-volume traffic and don’t account for the complexity of everyday tasks like video calls, streaming, or running multiple devices on the same network. These activities introduce variables that can significantly affect performance.

Peak Usage Times

In Australia, internet speeds often fluctuate based on demand. I have noticed in the evening it can slow right down. People tend to ring internet companies for support in the day time when they have some time.

Outdated equipment

Despite what many say, the quality of your modem and router play a significant role in Internet performance. When we replaced outdated equipment on one site, we saw an immediate improvement.

Software and Background Activity

Sometimes, slow internet is caused by what you are doing, if your computer is working, people are doing things in the shop, background apps and/or automatic updates are running often without you realising it. Yeah it can run slow.

External Network Congestion

If what you are doing is going say overseas, who knows where on the chain something could be causing problems. This is especially relevant as many of our customers rely on the internet for contacting their overseas suppliers

Practical Steps to Improve Your Internet Experience

If you’re frustrated by your slow Internet despite good speed test results, there are steps you can take to improve performance:

Upgrade Your Equipment

Check whether your modem and router are outdated; maybe consider upgrading to models that support higher speeds.

Move your Equipment

Check that your modem is away from interference sources, and move cables away from your network cables if possible. We had a customer who was running slow. The cause was that one of their internet cables was running just on top of the fluoro lights.

WIFI

I recommend Ethernet cables for critical devices like POS systems; they are generally faster and more stable. WIFI can sometimes cause problems. We laid a cable in one shop, and the problem disappeared.

Schedule your usage

Often, just moving when you do tasks can help. If it tends to be busy in the evening, move the task to an earlier or later time.

Test

If you are going to use a speed test, try this one

testmy.net

What I like about it is that it can test your speed and then give you a score compared to what other people in your city are getting. It can also check your speeds to overseas countries if that is what you are interested in.

I set it on a computer to run automatically every hour and then see what it says over a day.

Contact Your Internet Provider

If problems persist after troubleshooting, I would like to contact your internet provider for help. Ask them about the area you are in and your expected performance.

A Reliable Connection Is Key for Retail Success

A reliable Internet service is a necessity for running a modern business.

If you’re still experiencing issues after all of this, it might be time to consider upgrading your plan or switching to another provider!

We did!

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

Loyalty programs are the most popular type of program today. They have successfully fostered customer retention and driven sales. What it is trying to overcome is that unless a person buys regularly from you, it takes time for them to accumulate enough loyalty points to make it worthwhile to use them. This allows people to purchase points that can be used now. It boosts sales as it functions much like a gift card.

What Does It Mean to Sell Loyalty Points?

Selling loyalty points allows customers to purchase points instead of earning them through spending. The points can be redeemed now. For example, a customer might use points as a discount to buy more points. Many large brands, such as airlines, Hilton, and Starbucks, successfully employ this strategy. With proper planning, it could work for you, too.

Key Mechanics of Point Purchases

Similar to gift cards, which many of you now sell, customers pay upfront for points that they can redeem later. Think of it as a top-up.

This approach would be convenient in industries where people visit infrequently.

Advantages of Selling Loyalty Points

Enhanced Revenue Streams

Selling loyalty points provides immediate cash flow.

Improved Customer Experience

Customers gain control over their loyalty journey. With its accelerated progress, it can be used immediately.

Competitive Differentiation

Offering point purchases sets you apart from competitors still using traditional programs.

Valuable Behavioural Insights

As the points go to the actual buyer, a gift card goes to the buyer, making it harder to track what your customers want. This is a big plus as you can utilise the reports in the VIP section, so allowing better customer tracking.

Implementing such a system

Define Your Pricing Model

In this image above

$300 gives the customer $330

$500 gives $565

$1,000 gives them $1,150

I think it's too much, and I would suggest something like

$25 gives them $25

$50 gives them $52

$100 gives them $104

$250 gives them $255

The reason $25 gives them nothing better is that you do not want to encourage people to buy these points just to get a discount. Additionally, as is typical in such schemes, large purchases often result in a slightly worse deal than the $100.

Integrate with Your POS System

With our modern POS system, you can simplify point sales by:

1. Automate point issuance upon purchase
2. Syncing inventory with redemption options
3. Tracking customer purchase/redemption patterns

There is no reason why you cannot experiment with offers like “Double Point Days,” which many retailers use.

Communicate Clearly

1. Use in-store signage to explain how it works. No point in having it if no one knows bout it.
2. I could see how someone like a barber could use it to send out targeted offers like “Need 50 more points for a free haircut? Buy them now and save $15!”
3. Train the staff to explain the program’s value during checkout.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

The Australian dollar (AUD) is in a decline against its major currencies. It presents a significant economic challenge. Some people attribute this problem to external factors, such as trade tensions with other countries. However, the real causes are deeply rooted in Australia’s financial situation.

Here is a table to show this.

Just looking at the table, you can see that it's not Trump, as we received only the minimum 10%, and yet almost everyone, including those who received more, is doing better than we are: Japan, 24%; China 54%; and India, 27%. None have seen their currencies drop as much as ours. 

The Australian dollar is now at a five-year low. It has been going down for years, and the forecast for it is not good.

We are facing significant challenges for retailers since nearly everything is imported. Let's now examine Australia's Retail Outlook.

Retailers must adapt

Why Is the Australian Dollar Dropping?

That's a good question I wish would be asked more often now.

Our economy

This decline is compounded by external factors such as global trade dynamics and Australia's reliance on commodity exports. It has not been pretty for quite a while, and now our currency is viewed as a “risk currency.”

China’s Economic Slowdown

As Australia’s largest trading partner, China’s weaker economy and economic uncertainty are dragging down the AUD.

Commodity Dependence

Australia relies heavily on exporting commodities. Much of this is in uncertainty.

Unemployment

While unemployment rates are currently low, job availability in high-paying, export-oriented sectors, such as mining, is shrinking. This trend could lead to problems.

To many of you, this will affect your customers' spending habits.

How Does a Weaker AUD Affect Retailers?

Fewer tourists

Many of my customers tell me how they miss the Chinese tourists. Tourism is vital to us.

Rising Business Expenses

As we all sell products sourced internationally, you’re likely to be hit by higher wholesale prices soon. A weaker AUD makes imports more expensive.

These increased costs often lead to higher retail prices and/or a squeezing of profit margins.

Increased Operational Expenses

Beyond inventory costs, other business expenses will rise:

####Energy Prices In addition to the rising electricity prices we now face, Coal remains a dominant source of electricity generation in Australia. Since coal prices are set in US dollars, a weaker AUD directly increases electricity expenses for businesses.

Shipping Costs

Importing goods becomes more expensive as freight costs are typically calculated in foreign currencies, often the US dollar.

What Can Retailers Do to Adapt?

Consumer Spending Slowdown

With inflation now eating into household budgets, shoppers have prioritised essentials over discretionary purchases. This trend is if you sell non-essential items, such as fashion or gifts. I suggest stocking items that are necessities. Children are not being affected by this trend.

Diversify Your Supply Chain**

Relying on a single supplier is risky when currencies fluctuate; local goods and local suppliers might reduce reliance on imports. Shop around; different suppliers in different countries are affected differently. For example, a New Zealand supplier is only marginally affected, whereas a Japanese supplier would be significantly impacted.

Use your POS System

As prices and the economy change, the quickest and best way to assess your business and its current status is through your POS System. It will tell you trends, what is working and what is not working. What you need is actual data in real time.

Conclusion

Retailers in Australia faced a challenging period.

We need to focus on the customer experience.

The future belongs to those retailers who adapt.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

Old stock refers to stock that has remained unsold for an extended period. This stock will hurt your business.

• Unsold stock ties up money.
• Every inch of shelf space in your store is valuable, so old stock prevents you from showcasing stock that sells.
• Items will lose value just sitting on the shelf.

The first step is to identify the old stock using your advanced point-of-sale (POS) system, as I'll show you here.

Then, we will need to manage it, as it is not going away now.

How to Identify Old Stock

You can quickly pinpoint this old stock by combining your technology.

Leverage Technology for Better Insights

Modern point-of-sale (POS) systems track and identify old stock. Here's how our POS software can help:

• Generate reports to identify items with low or no sales over specific periods.
• Flag seasonal goods that haven't sold after their peak period.
• Tell you how long each product has been sitting on your shelves.

Pro Tip

We invite you to explore our engaging training video on identifying old stock. Click here for a training video on identifying old stock.

Divide and Conquer Your Inventory Search

I suggest focusing on one department. Once that is done, proceed to the following department. Make sure you work systematically.

It avoids making you feel overwhelmed.

Look for Patterns in Your Inventory

Sometimes, the issue isn't just individual products but broader trends. Use your POS data to spot patterns such as:

• Check brands that consistently underperform
• Price points that don't sell well
• Categories with high amounts of leftover stock

These insights will help you clear out old inventory and improve your buying decisions moving forward.

What To Do Once You've Found Old Stock

Identifying old stock is only half the battle—you also need a plan to deal with it. Here are some effective strategies:

Repositioning Products

Always try this first; sometimes, all it takes is a little intelligence.

Bundling

My favourite method is to bundle unsellable stock with good-selling stock. Bundle slow-moving items with popular ones to create value packs. For example, pair unsold candles with bestselling home décor items as a gift set. Another example would be a cookbook that has not sold. Put it together with a cookbook that sells well and charges more for the bundle than the cookbook that sells well.

Clearance Sales and Discounts

The traditional method eliminates this by offering discounts to move slow-moving items quickly. A well-promoted clearance sale can attract bargain hunters while freeing your shelves for new products. It works well during the stock-taking season in July, but it's expensive.

Why Your POS System Is Key

A sound POS system doesn't just help you find old stock; it can help prevent it. Our POS software equips you with tools to manage your inventory.

Predictive AI

Why not use the AI built into our software for intelligent ordering? It's free. It does:

Demand Forecasting

Predicting future product demand based on past trends and external variables.

Optimal Reordering

Identifying the best times and quantities for replenishing stock to avoid overstocking or shortages.

Dynamic Adjustments

Continuously updating predictions based on real-time data, ensuring accuracy even in rapidly changing conditions.

Cost Optimization

Reducing holding costs and waste by maintaining just the right amount of inventory.

By leveraging these tools, you'll clear out old stock and avoid over-ordering in the future.

Final Thoughts

Old stock is an inevitable part of retail life—but it doesn't have to hold your business back. With the right strategies and tools, such as a reliable POS system, you can transform dead inventory into an opportunity for growth. Whether freeing up cash flow or creating space for new products, taking action now will set your business up for success.

Ready to manage your inventory effectively? Watch our step-by-step training video (click here) or contact us today for expert support! Don't let old stock weigh you down—start making smarter inventory decisions today!

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

Easter brings sales, alright, with chocolate bunnies and festive decorations. However, once the holiday ends, retailers are often left with stock that is difficult to sell. It impacts their cash flow, and worse, it has to be stored. Your POS software can help you identify many unsellable items, allowing you to take action before they impact your profits.

Why Seasonal Stock Becomes Unsellable

Seasonal inventory is a double-edged sword. While Easter drives foot traffic, a study of 40 of our clients revealed that approximately a quarter of the seasonal stock often remains unsold after the holiday, becoming dead stock that ties up cash flow and storage space. That is why we decided to address this problem.

Here is what retailers typically do to solve this common retail challenge:

• Buy a stock for Easter, but it can be sold after Easter.
• Some can be returned to the supplier
• Retailers will typically slash prices by 50–70% to clear Easter leftovers, which erodes their profit margins.
• The rest has to be stored till next year

Fortunately, with our POS Software, retailers have a powerful tool to help them identify and sell this unsellable stock. This tool can help determine the number of items sold during Easter, but it will likely not sell after following this step-by-step procedure.

Step-by-Step Inventory Analysis

Your POS system does more than process sales—it can help identify unsellable items early, allowing you to take action before they impact your finances. Follow these steps:

Use POS Reports Effectively

Leverage Historical Data

Go to Register Reports, which is marked in green, and then select "Stock Sold During Period(a) Not Sold in Period(b)" from the in-stock section.

Now select in stock, "Stock Sold During Period(a) Not Sold in Period(b)"

Go to Register Reports > Stock Analysis > "Stock Sold During Period (a) Not Sold in Period (b)"

Run this report to pinpoint previous unsellable items:

Set Period (a) 01/03/24 – 31/03/24 (Easter)
Set Period (b) 01/04/24 – 40/04/24 (post-Easter lull).

This report will generate a list of items that sold during Easter but had no sales afterwards.

Flag products with year-on-year (YOY) sales declines. I suggest that ≥15% should be marked as high-risk for overstocking.

A Melbourne newsagency found that plush toys sold 22% slower than the previous year. They cleared 85% of their inventory early by running a pre-Easter flash sale.

Call-to-Action

Don't let unsellable Easter stock weigh down your business! You can use your POS system today to identify slow-moving items early, take decisive action, and refine your strategy for next year's holiday season.

Conclusion

You need to be able to manage their stock effectively. You should use this report to help manage your stock and maximise profits effectively.

Executive summary

> Due to stock that is only available during specific seasons, such as Easter, seasonal holidays can be particularly challenging for retailers.
> Our POS Software can assist you with tracking down unsellable stock 
> This report will provide a list of unsellable products.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

Most of us were shocked at the budget when we saw that the Instant Asset Write-Off scheme was ending this financial year, I guess the goverment decided it was too expensive. For Australian small business owners, the Instant Asset Write-Off scheme has been a vital tool for managing finances and improving cash flow for many years, as it enables immediate tax deductions on eligible purchases. However, recent changes to the scheme mean that time is running out to take advantage of its benefits. Now is your last chance to take advantage of the scheme if you're a retailer; the Instant Asset Write-Off benefits effectively end on June 30, 2025.  

What's Changing with the Instant Asset Write-Off?  

Threshold Reduction

The maximum threshold for claiming an instant asset write-off will drop from $20,000 to just $1,000. This drastic reduction means that most significant purchases will no longer qualify for immediate tax deductions.  

Deadline for Current Benefits

We have a deadline of less than three months. That means you must act now to purchase and install eligible assets, as waiting too long could mean missing out on substantial tax benefits. Simply ordering or paying for an asset isn't enough—it must be ready for use in your business by June 30, 2025.

So now is the time to review your POS System while you can still take advantage of the Instant Asset Write-Off scheme.

So, is your computer feeling sluggish? 

Are the long queues and slow checkouts frustrating your customers and costing you? Then maybe it's time to turbocharge your business with a new computer using an ATO's $20,000 Instant Asset Write-Off!

This allows you to immediately deduct the cost of eligible computers (up to $20,000) from your taxable income. In the past, this has saved thousands of dollars for many of my clients, and it can likely save you money as well. 

Here's why a new computer and the write-off are a winning combo for your business:

Unleash the Speed Demons! 

• Faster Checkouts: Upgrade to the latest lightning-fast computer for even faster speeds. A new computer can improve the speed of your POS software performance.
• Boost Staff Productivity: Their time spent on the computer costs you money and reduces their time for productive work.

Here's how it benefits you:

• Improved cash flow: This deduction allows you to immediately deduct the full cost of the computers that you would otherwise have spent on depreciation over several years. This can free up a significant amount of cash flow.
• Simplified tax time: No need to track depreciation schedules for your computers. Just claim the deduction and move on.

Real Business Owners, Real Results! ️

Since upgrading our computers with the write-off, checkout times have significantly decreased. Customers are in and out in a flash, and our staff are significantly more efficient. 

"The tax savings from the write-off were a huge bonus! We used the extra cash to invest in a top-notch inventory management system"

Don't Miss Out! 

This opportunity ends on June 30, 2025. The computers have to be in the shop and working by then, to claim this year so if you are interested you need to move immediately

Here's a win-win solution: Upgrade your computers with the ATO's $20,000 Instant Asset Write-Off, boost your business, and save thousands on your tax bill!

Contact us today for a free consultation and discover the perfect computer to boost your business and save with ATO's Instant Asset Write-Off!

Please consult with your accountant first to verify whether you meet the eligibility criteria, as this information is for general purposes only and shouldn't be taken as tax advice.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

As a retail consultant, I am excited about how AI can be used to support small—and medium-sized business (SMB) retailers.

We decided to address the problem of receiving too much information today. No one has time to wade through the mountains of reports we are getting, so I decided to test which free AI solution will deliver results for your shop.

We chose free because most SMB retailers are currently experimenting with AI, and as a result, many are utilising free AI solutions. There is no point in testing something few are using.

We extensively evaluated six leading free AI tools to answer this question, testing them against real-world retail reporting scenarios. We made and rated over 200 reports in total. What we discovered might surprise you, but the results certainly did surprise me. This analysis will be helpful and save you a lot of time.

What the test is addressing

There is a significant gap between the data and the time and knowledge needed to use it effectively. A modern POS system like ours generates hundreds of reports, which require considerable time to review to identify sales patterns, inventory levels, supplier performance, and financial statements. However, finding time to extract meaningful insights from these reports is another matter.

Yet the promise is that AI tools can do this and quickly process reports, identify trends, spot anomalies, and suggest actionable improvements.

The Free AI Landscape

Like so much in the world, not all AI tools are equal; some are better than others, and each one has account limitations.

We tested six popular tools to help you navigate these options:

ChatGPT (OpenAI)

Claude (Anthropic)

DeepSeek

Google AI

Grok 3

Qwen

Evaluation Criteria for AI Tool Performance

Now, we know that all of them are good, but there is always a case where even the best six runners in the world have one who is better, and that is what we wanted to find out: the best free AI for retailers.

Each tool was evaluated on its ability to handle our tests based on these criteria:

Information Accuracy

Accuracy formed the cornerstone of our evaluation. Without accurate information, even the most sophisticated analysis becomes worthless for making informed business decisions. We meticulously verified whether each AI tool could process retail data without introducing errors or misinterpreting figures. This involved cross-checking calculations against known values and assessing whether the tools maintained data integrity throughout the analysis. In retail, where margins are often tight, minor inventory valuation or sales forecasting inaccuracies can lead to costly mistakes.

Clarity of Presentation

Accurate information is only valuable if presented in an understandable format. We assessed each tool's ability to structure information logically with clear headings, appropriate visual elements, and a coherent flow that retail managers could easily navigate. We examined whether complex data was transformed into straightforward insights that wouldn't require a data science degree to interpret. A good report should communicate the key points to a retailer without requiring them to wade through jargon.

Actionable Insights

Data without direction offers limited value to retail businesses. We evaluated each tool's ability to convert raw information into practical recommendations that retailers could implement. I am very proud that our POS system provides our customers with tools they can utilise. I want the AI report to do the same. I want to know what specific opportunities were identified in my inventory optimisation, which products are underperforming, and what concrete actions I need to take from my supplier. Good tools should describe what is happening and what should be done next.

Business Relevance

We evaluated each tool's ability to focus on issues that matter most to Australian retailers rather than generic business statistics. Did the AI for example identify seasonal trends in an Australian retail cycles, did it highlight my supplier performance to my business. Information that is not relevant creates noise rather than value.

Consistency in Analysis

Consistency in reporting is crucial for tracking performance over time and making reliable comparisons. We examined whether each AI tool maintained a consistent approach to analysis in its report and whether its outputs provided a coherent narrative. We do not want contradictory findings. Retailers need to trust that the insights they receive follow logical patterns and don't send them in conflicting directions. Inconsistent analysis can lead to confused decision-making and undermine confidence in the technology itself.

This comprehensive evaluation framework enabled us to assess each AI tool beyond its surface capabilities, focusing instead on how effectively it would serve the practical needs of Australian retailers wanting to extract value from their business data.

Test 1: Long Trend Stock Report Analysis

The first test was designed to evaluate how the AI would perform if it were given a vast amount of data that retailers are receiving. If the AI cannot handle the data, it's of minor use to retailers. Retailers have lots of data today.

Now, understanding inventory performance is critical for any retailer. Seasonal trends, slow-moving items, and bestsellers all impact their bottom line, so we ran a comprehensive stock trend report spanning hundreds of pages. It's the kind of data most retailers can obtain but rarely find the time to analyse correctly. Our test data spanned 12 months and exceeded 300 pages in length.

Tool Performance

ChatGPT

Failed almost immediately, as it ran out of credits, rendering it essentially useless for comprehensive stock evaluation. Even before hitting its limits, it failed to provide actionable insights that would aid practical retail decisions. The reality is that a retailer, after running this report, would almost certainly want to rerun it to see whether anything different changes the outcome. I might have tested this year and last year, but here I get nothing. As such, we immediately dropped ChatGPT.

Claude

Initially performed better. It identified some fundamental product trends on the first run. Then it ran into credit limits. However, it did identify some fundamental product trends, but its inability to handle follow-up questions made it impractical for the iterative nature of retailers' needs. As such, we dropped it immediately.

DeepSeek

Attempted a different approach to the credit limit problem. It took only a tiny section (6%) of the information. While this allowed it to complete the task without running out of resources, it did not give much.

Google AI

The first problem was that Google required CSV files, while all the others accepted Excel format, which we preferred. However, it did identify fundamental product trends; however, we all felt it lacked the depth needed for effective inventory management. Its surface-level insights wouldn't provide much of a competitive advantage for retailers looking to optimise stock levels.

Grok 3

Boy, were we impressed with this AI. It took the entire report without issues. It then provided a detailed trend analysis that would help retailers make smarter decisions. For example, it identified some products specifically for BBQs and reported that they sold well during the summer. It also spotted anomalies that would be easy to miss in manual review, such as products that underperform only during specific weather conditions.

Qwen

It performed admirably by identifying anomalies and supplier diversity trends, though it didn't match Grok 3's depth. It correctly helped identify problematic stock items. Unfortunately, it offers fewer actionable recommendations for improvement than Grok 3.

ChatGPT failed

Test 2: Trial Balance Analysis

Accurate financial reporting is the backbone of retail success. The second test focused on a small compact trial balance dataset. What we wanted was an analysis that didn't require an accountant to understand.

Tool Performance

DeepSeek

It produced precise observations but struggled with depth when analysing discrepancies. Its summarised approach meant that nuanced financial issues, which could significantly impact a retail business, were overlooked.

Google AI

Here, we got straightforward summaries that aligned with our general ledger data but it lacked depth in identifying anomalies. We felt that although it was helpful for essential reconciliation, it wouldn't alert a retailer to subtle patterns.

Grok 3

Wow, it delivered a detailed financial summary with cross-referenced data for accuracy. It flagged discrepancies that required further investigation, allowing us to explore these issues. This capability could be invaluable for retailers without accounting expertise in maintaining the financial health of their business.

Qwen

It did a good job of highlighting significant balances and unexpected changes effectively. Again, it did not match Grok 3's level, but it did come up with much good stuff.

Test 3: Supplier Purchases Report

Managing supplier relationships is critical for maintaining healthy margins and consistent product availability. The third test examined a supplier purchases report to evaluate performance, track expenditures, and identify inefficiencies.

Tool Performance

DeepSeek

It did produce some quick overviews. It struggled with detailed metrics, such as cost per transaction or order accuracy. Its summarised approach meant it missed some critical inefficiencies; we did not think it was trivial, as these sorts of things directly impact margins.

Google AI

It did provide a structured summary but lacked in-depth spending analysis by category or supplier benchmarking. While helpful for basic understanding, we did not see key KPIs, such as identifying problematic vendors.

Grok 3

It did offer comprehensive supplier evaluations with detailed metrics. It identified inefficiencies. We thought it was suitable for managing dozens of suppliers. It was good, with its actionable tips.

Qwen

It did highlight anomalies as well as Grok 3 in the supplier but lacked actionable details.

Summary Performance 

When evaluating these tools specifically for retail applications, clear patterns emerged across all three test scenarios:

Practical Implementation for Your Retail Business

Understanding how these tools perform in controlled tests is helpful, but implementing them in your daily operations is where real value emerges. Here's a practical approach to leveraging AI for business improvement.

Start Small and Focused

Begin with a specific business challenge rather than trying to analyse everything at once. Consider identifying your slowest-moving stock items for clearance, evaluating which suppliers offer the best value for similar products, or analysing sales patterns to optimise staffing during peak hours. Starting with a focused approach allows you to see tangible benefits quickly while building your comfort with the technology.

Prepare Your Data

Export relevant reports from your POS system in a format your AI tool can process. Depending on what tool you use, you need CSV or Excel. I prefer Excel but its your call. Check first that your data is clean and good. If you feed the AI rubbish, you will get rubbish back.

Ask Specific Questions

Frame your queries in specific, actionable terms rather than general requests. Instead of asking the AI to "Analyse my stock," try something more targeted, such as "Which product categories show seasonal patterns, and when should I increase inventory for winter?" Similarly, rather than requesting the AI to "Check my finances," ask, "Are there any unusual expense patterns compared to last year, and which categories show the largest percentage increases?" Specific questions yield specific, actionable answers.

We found that general queries often provided incorrect answers, requiring multiple attempts to obtain a satisfactory response.

Implement Findings Systematically

Test your questions systematically and record the question that yields the answers you want. This systematic approach ensures that AI becomes a valuable part of your business improvement cycle rather than just an interesting experiment.

Focus on applying insights

The best analysis is useless if it is not applied. Each of your analysis sessions should end with clear action items to be implemented and tracked.

Recommendations for Australian Retailers

Based on comprehensive testing and practical retail experience, here are my specific recommendations for retailers looking to leverage free AI tools:

Use Grok 3 as your primary analysis tool. I am told it will soon be charged, but now it appears to be the best in the free AI market. We were impressed with its ability to handle complex questions and our interactive questions, which is excellent if, like me, you like following your natural curiosity.

"A good question in business does not lead to an end; a good question opens doors you never knew existed."

Consider using Qwen; it's excellent. We found it helpful as it gave a good second opinion. It can be especially valuable when making significant business decisions.

If you're currently using ChatGPT or Claude, be aware of their significant limitations for business analysis. Their credit restrictions make them impractical for the iterative analysis that delivers real value. You may find yourself frustrated when analysis suddenly stops.

Conclusion: The Future of Retail Intelligence

Retailers, rather than using intuition alone, can use the Free AI tools now available to gain insights.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

To combat suppliers' inflation tactics, you need to consider diversifying your supplier base and negotiating better contracts. But let's look into the details of these tactics. 

As I was reviewing the ACCC report on supermarkets, which discussed some of the inflationary pressures that retailers face. You can read it here.

While reading it, I thought of the problems that SMB retailers face. While we strive to maintain competitive prices for our customers, suppliers often use subtle tactics to increase costs. Here, I will list some to help you both identify these tactics, know the public discourse on the subject, and some actionable strategies to protect your business.

Here are the standard Supplier Inflation Tactics

They are generally subtle, as suppliers are accustomed to inflation and know how to adjust prices with minimal fuss. They try to raise prices without explicitly doing so, creating an illusion of price stability that is not true. Yet, these methods will significantly impact margins and reduce customer trust in you, even though it is not your fault.

Shrinkflation

It is now the most common method; shrinkflation occurs when suppliers reduce the size or quantity of a product while keeping the price unchanged. For instance, a cereal box might shrink from 560g to 495g, but the price remains $4.50. Often, the box size remains the same. This hidden cost increase erodes value for both you and your customers. I have spoken about it here.

Skimpflation

The most common term for this is "shitflation," but let's be polite. Skimpflation is lowering product quality without reducing prices. Examples include switching to cheaper ingredients or materials. Recently, a customer of ours reported that they are receiving complaints because the paper for a photocopier they supplied is not as good as it used to be. Here is a direct example of how these changes lead to customer dissatisfaction and affect their reputation.

Stealth Inflation

This tactic involves adding hidden fees or surcharges instead of raising base prices. For example, some suppliers have now introduced "handling fees", which inflate costs without appearing as a direct price increase on invoices.

Shadow Inflation

Here, we observe a decline in service quality with no corresponding price increase. Suppliers may send reps less frequently, have longer delivery times, take longer to repair, or reduce customer support.

Excuseflation

Suppliers may use general inflation as an excuse to raise prices. I had a beauty a few days ago when I complained about the price increase. One wanted to change me over to UPS. The supplier informed me that it was due to Trump's tariffs. I just laughed; what do you think? Are we that stupid to believe that? Those tariffs only apply to goods coming from some countries into the US. I am in Australia, so come up with another excuse to justify this price rise.

Actionable Strategies for Retailers

Here are some proactive strategies for mitigating the effects of supplier-driven inflation: Protect your margins while maintaining customer trust.

Monitor Product Changes

You will never do much about it if you do not know about it. Here is where a modern POS system can help you manage inflation impacts effectively:

• Tracking margin changes in real-time.
• Identifying trends in product specifications and Pricing.
• Comparing supplier performance metrics like delivery reliability and price stability.
• Integrating customer feedback data to assess how product changes affect satisfaction.
• I had a customer who, when he realised that the items were suddenly smaller, changed the old ones in stock at a slightly higher price. You should not do that, but he argued that the old ones were worth more now.

Negotiate with Suppliers

• Highlight with them effective price increases
• Request discounts, or they may have alternative products that offer better value.
• Demand advance notice of product changes.

Diversify Your Supply Chain

• Source alternative suppliers for key products to avoid over-reliance on a single vendor.
• Compare suppliers based on Pricing

Adjust Pricing Strategically

• You need to be aware of a price change has occurred Consider communicating with your customers about necessary price adjustments due to supplier cost increases. The ACCC wants this, but I am unsure if it's a good or possible idea. Some suppliers withdraw a previous product and make a new product, e.g., 12 pencils in a box become 10 pencils in a box. It certainly is vital that you know about it if it comes up.
• Offer value-added promotions like bundles or loyalty rewards to soften the impact of price hikes.
• I like introducing tiered pricing options with premium, budget, and cheap alternatives to cater to diverse customer needs.

Conclusion

The reality is that inflation is terrible now. We are all feeling it. It may cost the government the election, as many blame it on them. Whether that is true or not, I can tell you it's not our fault.

What needs to be monitored as it causes:

Margin Pressure

Hidden cost increases reduce your profit margins, forcing you to make tough decisions about pricing strategies.

Inventory Complexity

Product changes due to shrinkflation or skimpflation complicate inventory management and purchasing decisions.

Customer Trust Issues

Customers may attribute perceived price increases or declining quality to you rather than the supplier, which can damage trust in your shop.

Administrative Burden

Monitoring and responding to these tactics requires additional time and resources that could be spent on other aspects of your business.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

A point-of-sale (POS) system allows your business to accept customer payments, track sales, and manage the shop.

The POS System

Hardware: The Physical Backbone

Every POS system includes hardware components that facilitate transactions. Common examples include:

• Terminals: Countertop units or mobile tablets are used to process sales.
• Barcode Scanners: Quickly identify products and prices.
• Receipt Printers: Generate paper or digital receipts for customers.
• Cash Drawers: Secure storage for cash transactions.
• EFTPOS Machines: Widely used in Australia to process card payments efficiently.

Software: The Brains of the Operation

The software component powers the functionality of a POS system:

Sales Processing

Inventory Control

Tracks stock in real time. This enables retailers to monitor their stock.

Customer Relationship Management (CRM)

Stores customer data to build loyalty programs.

Reporting and Analytics

Provides insights into sales trends and staff performance.

How POS Systems Transform Aussie Retail

Streamlined Operations

POS systems automate many manual tasks, allowing businesses to operate more efficiently:

• Automatically adjust stock levels after each sale.
• Generate detailed reports for financial tracking and decision-making.
• Process payments.

Data-Driven Decision Making

Gets the retailer information that helps them make better decisions:

• Identify top-selling products to optimise inventory.
• Identify dead stock For example, a Melbourne newsagent discovered that 20% of his stock, using this insight from their POS system, was dead and not selling.
• Analyse peak trading hours for better staff scheduling.
• Track customer purchase behaviour to tailor promotions.

Enhanced Customer Experience

Modern POS systems improve the shopping experience by:

• Reducing queue times with faster checkouts.
• Offering personalised recommendations based on purchase history.
• Managing loyalty programs seamlessly.

Real-World Benefits from Our Users

The Future of POS in Australia

As we move forward, POS systems will become even more integral to retail success:

Omnichannel Integration

The shop will need to be connected to the internet

AI-Powered

AI is already investigating many aspects of the shop. We feed information from a POS System into AI to investigate improving shop layouts, inventory, marketing strategies, etc.

Cashless society

It is only a matter of time before Australia becomes a cashless society

Cryptocurrencies

With bank fees the way they are now, it is only a matter of time before we see a growing movement to crypto.

Conclusion: Empowering Australian Retail

A POS system is an investment in your future retail business.

Explore our top POS System, which has been used in thousands of stores Australia-wide for over 40 years.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

No, EFTPOS (Electronic Funds Transfer at Point of Sale) and POS (Point of Sale) are not the same, though they are commonly used together. EFTPOS refers to the payment processing method, while POS is a broader system containing sales tracking, inventory management, and other business functions. People often confuse EFTPOS and POS systems. This is mainly because salespeople try to confuse the issue by claiming that EFTPOS is POS. It is not.

What is EFTPOS

The bank system links the proposed transaction from your shop to the banking system. It usually operates through a terminal that allows customers to use their cards to complete an electronic payment using debit or credit cards.

The main features of EFTPOS terminals are:

• Secure payment processing
• Support for multiple payment methods (debit, credit, contactless)
• Encryption of payment data

What is a POS System?

It is the hardware and software used to run a shop.

Key features of POS systems include:

• Sales management and transaction processing
• Inventory tracking and management
• Customer relationship management (CRM)
• Reporting and analytics

How EFTPOS and POS Work Together

In modern retail POS Systems like ours, the EFTPOS terminals are often integrated into the Point of Sale Software. Here's how they typically work together:

1. The POS system calculates the total sale amount.
2. This amount is automatically sent to the EFTPOS terminal if integrated.
3. The customer completes the payment on the EFTPOS terminal.
4. The POS system gets a response from the EFTPOS terminal that the transaction has gone through.
5. The POS System records the completed transaction.

This integration offers several benefits:

• Reduced manual data entry, minimising errors
• Faster checkout times, improving customer experience
• Simplified end-of-day reconciliation
• Real-time sales data for better business insights

Security Considerations

Both EFTPOS and POS systems must prioritise security to protect sensitive customer data. Integrating them makes them more secure.

Choosing the Right Solution for Your Business

A standalone EFTPOS terminal vs an integrated POS system

Faster

It's much faster, as the information exchange between the EFTPOS unit and the POS System is automatic.

Secure

Integrated systems mean that the merchant has an extra layer of security, as the POS Software and the EFTPOS are linked. The controls that enter the EFTPOS pass through the POS software checks first.

Fewer mistakes

People are in a hurry, and let's face it: almost everyone in retail is busy, so they make mistakes. POS Software makes fewer mistakes. For example, a person often misreads a one and a 7. Instead of $70 into the EFTPOS unit, they punch in $10. The retailer loses $60. Sometimes, this behaviour is not accidental; store attendants give discounts to relatives and friends.

Popular EFTPOS and POS Solutions in Australia

Our users can have various EFTPOS leading providers in the Australian market.

Conclusion

While EFTPOS terminals are for the payment processing only, an integrated POS system offers a comprehensive solution for managing your entire retail operation.

FAQs

Q: Can I use an EFTPOS terminal without a POS system?

A: Standalone EFTPOS terminals can process payments independently but won't offer inventory tracking or sales reporting features.

Q: How much does an integrated EFTPOS extra cost?

A: Costs vary depending on the EFTPOS providers. We do not charge for the integration.

Q: What's the difference between contactless payments via EFTPOS vs credit cards?

A: EFTPOS transactions through savings/cheque accounts usually have lower fees than credit card transactions processed via Visa or Mastercard networks.

Q: Are there any security risks in integrating EFTPOS with POS systems?

A: Overall integration will enhance security by reducing manual data entry; however, some intelligence is still needed to reduce the risks.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

To safeguard your shop from scammers, implement strong security measures, train your staff to recognise scams, monitor online activity, and encourage customers to verify transactions and payment methods. While researching security on the Uber Eats interface, I studied how secure the platform is and discovered several operators had reported security issues here. This one, however, caught my eye. As bad as some bank fraud scams are, it is too easy to forget that as services get linked into your POS System, the chances of fraud increase with other systems.

A typical bank fraud hit many Uber Eats franchises, but because it was not a bank, the owners let it go until it was too late.

The scammers posed online as Uber Eats administrators, claiming urgent account issues. They then requested login credentials to "fix" some supposed problems. Once access was gained, the Uber Eats franchises' banking details were changed to redirect payments. Unlike bank systems, Uber Eats' notification systems often fail to alert merchants about these changes, which is weird as one would assume these are critical.

Real-World Impact

An Uber Eats merchant lost $3,500 after scammers changed their banking details. Another reported losing over $20,000 through a similar scam.

Security Measures to Implement

To safeguard your business from these scams, implement the following security measures:

Enable Multi-Factor Authentication (MFA)

You can add an extra layer of security by requiring multiple verification forms before account access is granted.

Implement Strict Internal Controls

Limit access to your codes to trusted staff only. Change these frequently and immediately when staff members leave your business.

Verify All Communications

Today, few security people request passwords or banking details via phone, text, or email. I would be cautious if they contacted you first. If you must give them passwords, change these passwords ASAP. Here are some tips.

Monitor Your Account Regularly

If possible, check your banking details and payment receipts daily. Your total report should match the bank's records.

Use Strong, Unique Passwords

Create complex passwords specific to your Uber Eats account. I recommend using a reputable password manager to generate and store secure credentials.

What to Do If You've Been Hacked

If you suspect your account has been compromised, immediately change your passwords. Contact the company through official channels, not by replying to an email. Document everything. Report the incident to your bank. Consider freezing payments until security is restored.

Legal Responsibilities and Compliance Australian law clearly states that you are responsible for your financial and customer information.

I had a client, World Square Newsagency, who went to court over fraud committed not by him but by one of his employees. The judge ruled that he had to pay the NSW lottery $574,000 for the employer theft, the NSW lottery legal fees, the NSW lottery investigation costs, and his legal fees of about $200,000 and some other expenses. It added up to over a million dollars.

Details here.

The Bigger Picture for Australian Retailers

While this article focuses on Uber Eats, the security principles apply to all integrated payment systems. Each new integration will create potential security risks, which require vigilant management.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

POS Solutions Retail is a popular free CRM known for its simplicity. It comes with options to provide essential CRM features to enhance customer management. Having worked with numerous Australian retailers on their Point of Sale (POS) systems, I’ve seen how the right POS CRM can boost sales. In today’s retail landscape requires POS software to do more than process transactions; it must also build meaningful customer relationships and efficiently manage business operations. The good news is that our modern POS software includes an integrated CRM solution to help achieve this.

What Exactly Is a POS CRM System, and Why Do Australian Retailers Need One?

Our CRM system is made for retailers. Unlike traditional cash registers, which process sales, ours tracks customer information, purchase history, and preferences while handling transactions. It is commonly used by most businesses in Australia.

It provides our users with a crucial advantage in today's competitive market.

Moving Beyond Spreadsheets and Notebooks

You're limiting your growth potential if you still rely on spreadsheets, email lists, or that dog-eared notebook behind the counter to track customer information. These approaches cannot use the power of the computer.

I remember working with a lotto store in Brisbane that tried managing its customer database traditionally. When they reached about 500 regular customers, the system became utterly unworkable. It just took too much work to connect customers' data, inventory, and analytics in a box of handwritten cards with their regulars' details. The amount of data is now going up. Those days are well and truly behind us.

Yet today's shoppers expect personalised experiences and relevant communications when interacting with your business. That's precisely where integrated POS CRM systems come in – they handle customer management while you focus on running your shop.

What Makes Our Retail POS CRM Different

The key difference between our retail-specific and generic CRM systems is integration. A retail POS CRM isn't a separate system requiring double-handling data—it's in your point of sale. Every transaction automatically updates your customer database, giving you a complete picture of each customer without extra work. It collects data with minimal friction, building comprehensive customer profiles that include Contact details and demographics, Complete purchase history across all locations, Shopping preferences and favourite products, Average spending and shopping frequency, and Special notes (birthdays, anniversaries, etc.) Actionable Analytics and Reporting Data is only valuable if you can understand and use it. Our strong reporting features provide clear, actionable information about your customers: Identify your most valuable customers and what they buy. Spot trends in product popularity across different customer segments. Analyse the effectiveness of your loyalty program and promotions. Track customer retention and acquisition rates. Forecast inventory needs. Based on purchasing patterns.

It is a very flexible platform that you can set up for either points-based or discount vouchers. The system automatically Track each customer's loyalty status and points balance. Apply earned discounts at checkout, Identify opportunities for rewards, notify customers about special offers, and analyse program effectiveness to help you optimise. Your staff won't need to calculate points manually or remember special offers—the system handles everything automatically during checkout. Targeted Marketing Tools Knowing your customers is just the first step—you must also engage them effectively. This POS CRM Software includes marketing tools that help you turn customer insights into action: What works well is creating customer segments based on purchase history, location, or spending patterns. Develop targeted campaigns for specific customer groups Personalise promotions based on individual shopping behaviour Automate marketing workflows for consistent communication Track campaign performance to refine your approach I worked with a bookshop in Hobart that used these tools to segment its customer base by previous purchases. When the author released a new book, we promptly notified the customers who had brought the last book, driving additional sales. Real Benefits for Your Shop 1) Increased Customer Retention 2) Higher Average Transaction Values 3) Improved Operational Efficiency 4) Enhanced Customer Experiences

Practical Tips I've Learned from Working with Australian Retailers

Start with Clear Objectives

I recommend that you look at increasing repeat business, boosting average transaction value, or reducing customer churn.

It will help you prioritise where to begin. You can continuously improve as you get going.

Meaningful Data

Check what data you have now. As you become more sophisticated, you might add fields like birthdays for special offers.

Roll It Out Gradually

Consider a phased rollout of the CRM. This approach gives your team time to get used to a new way of working while also seeing the benefits of the implementation. Successful implementations typically follow these stages: initial program setup and testing, Installation and troubleshooting on the day of installation, and a follow-up review after a few weeks to ensure you get the most out of your new system.

Get your Team involved.

Your staff is the front line of customer engagement, and they need to understand how you want your system to work. Ensure everyone can capture customer information, access customer profiles, and use insights to provide better service.

I worked with a shop in Newcastle, where they created a simple laminated instruction card that stayed at each register. This simple tool dramatically improved staff adoption of the new system.

Taking the Next Step for Your Australian Retail Business

Ready to revolutionise customer relationships? Start now.

Frequently Asked Questions (FAQ)

Q: What is POS CRM for retail?

A POS CRM for retail is a customer relationship management system in a POS System designed for retail businesses. Key features of retail CRM systems include:

• Customer data management
• Sales and inventory forecasting
• Loyalty program management
• Personalised marketing capabilities
• Point-of-sale (POS) integration
• Omnichannel customer support

Q: Is there a cost for this POS CRM?

A: No

Q: How long does it typically take for our POS CRM system to get going?

A: Our users typically start using it within a week.

Q: How much training will my staff need?

A: Our user-friendly systems require little training. The big plus is that your staff is used to the POS System.

Q: What return on investment can I expect?

A: Results vary, but improvements in customer retention, transaction value, and efficiency are expected. Here are some typical figures quoted.

Q: How can I measure the success of my POS CRM implementation?

A: Your POS system will provide KPIs. I would look at customer retention rate, transaction value, visit frequency, and revenue growth.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

Smartpay is one of several Zero-Cost EFTPOS solutions that shift transaction fees from retailers to customers. Many of my customers use it.

I confess we have been wary of these systems.  So have others, as you can read here.

Some issues

Government regulatory challenges

The Reserve Bank of Australia (RBA) has discussed restricting such fee payment providers. That could significantly impact Smartpay's revenue model.

Fees

Their fees seemed high compared to other EFTPOS suppliers, and we were dubious of the claim that customers would not care about these higher fees. Your customers are not silly.

Ransomware attack

They were affected quite dramatically; this is no minor issue if you deal with EFTPOS.

However, the immediate issue with them has been some recent market developments.

Market Position and Financial Performance

It is not just us who have been wary. Despite Smartpay's strong financial performance, its share price has dropped from $1.42 about a year ago to about $0.55 recently. This decline reflects the market's uncertainty about the company's prospects.

Well, now Smartpay has received a takeover bid from Tyro Payments. Tyro has offered to buy 100% of Smartpay's shares for 91 cents a share, subject to due diligence, promptly driving the share price up to 78 cents. The difference between 78 cents and 91 cents is telling, probably due to the uncertainty of due diligence.

Then, another international buyer appeared to make an offer, and what is stunning is that, with this news, Smart Pay's share price fell. Figure that out!

Implications for Retailers

If Smartpay is acquired, retailers might face changes in their EFTPOS services. While existing contracts may be initially honoured, new terms or conditions will be introduced. These changes could include adjustments to fees, surcharging policies, or even the functionality of the EFTPOS terminals. Tyro systems are very different from SmartPay.

Actionable Recommendations for Retailers

1. Stay informed about Smartpay's developments and industry news.
2. If changes occur, you must review your contracts.
3. Prepare for potential fee structure changes by assessing their impact on your business.
4. I would wait until we know what is happening.
    

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

To effectively cull products, you must analyze sales data to identify underperforming items, conduct market research to grasp customer preferences, and account for factors such as shelf space, product lifecycle, and profitability. Make informed decisions based on these crucial insights. Others and I have seen how reports boost shop profits. Today, we'll explore how our modern point-of-sale (POS) software can do that.

The Power of POS Software

POS software can give you a competitive edge by allowing you to make informed decisions about your POS system.

The 80/20 Rule: A Cornerstone of Retail Strategy

Consider the 80/20 rule, the Pareto Principle, as a cornerstone of retail strategy. It asserts that approximately 80% of revenue is generated by just 20% of your product range. Understanding this principle is crucial for optimising your inventory and concentrating on high-performing products.

Here is a graph of sales in a lottery shop. Take a look at it please.

This fascinating example illustrates the Pareto Principle, I confess I was struck by how closely it followed. I used one year of a lottery shop's sales data, which reveals. I'm sharing below how to make a graph for your shop. The essential point here is that:

- 20% of product lines generated 80% of sales
- Remarkably, just 9% of items accounted for 60% of sales (see red arrow).

This distribution closely reflects the Pareto Principle and has key implications for retailers. While this example supports the principle, remember that exact percentages may vary. The principle is a guideline rather than a fixed law. This lottery shop data shows the 80/20 rule's relevance in retail, especially for our customer base.

Simplifying Product Management

Most majors, such as supermarkets, simplify their operations by reducing the number of items in each category.

Why Fewer Products Can Mean More Profit

Space Optimisation

Eliminating low-performing products has many advantages, eg freeing up valuable shelf space for stuff that does sell.

Reduced Inventory Costs

Fewer products mean less capital in stock.

Simplified Operations

With fewer items to manage, your staff can focus on providing better customer service.

Clearer Customer Choice

Too many options overwhelm customers.

Leveraging POS Software for Smart Analytics

Our POS software offers a range of features that can help retailers interested in culling their stock in real-time and user-friendly:

Go to the Register reports.

Now pick "Top N Stock Sales for a Given Period."

Now, in the form, put in the last four weeks. Pick a category. Run, and this will result in a report with your champs on top.

Putting Analytics into Action

Here's a practical example of how to use these analytics to optimise your inventory:

Run Regular Reports

Use your POS software to generate "Top N Stock Sales" reports for the past four weeks.

Analyse by Category

It is easier to work by category or department, so try looking at the performance within each product group.

Identify Winners and Losers

Your top performers will be seen on the top, while the washouts will be on the bottom.

For top performers,

Please make sure you're always well-stocked on these items.

For poor performers

Could you consider clearing out of these items to remove them from your inventory?

Other considerations

While sales volume is crucial, don't forget about other important metrics:

Profit Margins

Sometimes, lower-volume products have higher profit margins.

Seasonal Trends

These items are challenging as many products might perform poorly overall but have strong seasonal sales.

Customer Loyalty

Certain products might not be top sellers but could be crucial for retaining loyal customers.

Key Benefits of POS Analytics

Implementing POS analytics can provide significant advantages to retailers:

Improved Decision-Making

Instant real-time data enables retailers to make better decisions.

Enhanced Customer Experience

Understanding customer behavior allows retailers to personalise interactions.

Optimised Inventory Management

POS analytics helps retailers minimise stockouts and overstock. It reduces costs and so increases profitability.

Increased Sales and Revenue

POS analytics drives sales growth by identifying cross-selling opportunities.

Competitive Advantage

Data insights help retailers spot trends and adapt strategies.

Conclusion

Effective inventory management is essential, and your POS software can help.

Your profits will benefit!

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

Imagine looking at a shop and seeing a vibrant rainbow of colours. These colours are immediately visually stunning, and your shop stands out. This has been found to be a clever retail strategy that can boost customer engagement and sales. Let's explore how this unconventional approach can brighten your shop.

What is Colour Coding?

It is a display idea that colour coding involves arranging goods by their colours. Please create a striking rainbow effect. Unlike traditional sorting methods, this approach prioritises visual appeal over conventional categorisation. Consider making it part of your retail merchandising strategy.

Now that we've explored colour coding let's examine its exciting benefits for your shop.

The Benefits of Colour-Coded Shelves

Enhanced Visual Appeal

Colour-coded shelves create an instant aesthetic that draws customers in. According to a 2024 study by the Retail Design Institute, stores with visually appealing displays saw a 27% increase in foot traffic.

This visual appeal is not just about aesthetics; it also taps into the psychological impact of colour on consumer behaviour. Research shows that strategic use of colour can increase brand recognition by up to 80%. That is a significant increase.

Increased Browsing Time

The treasure hunt atmosphere encourages customers to explore. A survey by the National Retail Federation found that customers spend 18% more time browsing in stores with unique visual merchandising. Increasing the time in your shop will lead to higher sales.

Social Media Exposure

Vibrant displays are highly shareable. Research from Hootsuite shows that user-generated content featuring colourful retail displays receives 4.5 times more engagement than standard store photos. It can lead to free promotion and increased brand visibility.

Implementing Colour Coding in Your Store

Step-by-Step Guide

Let us start with a few small dedicated shelves near each other or a stand to test customer response. We are going to run a hybrid system in which your items are also where they usually are.

Inventory Assessment

Conduct a thorough inventory to determine the colour distribution of goods in your shop. Then, those suitable products are put aside.

Update your POS System

You will need to find these products in your POS System, so put this area as a secondary location.

Colour Code them

Make a nice rainbow colour effect with the items. Work out a layout. The colours will be red, orange, yellow, green, blue, indigo, and violet. There is nothing wrong with making a stand, say all green products, but if you have many different colours, that is how to display them.

Addressing Potential Drawbacks

While visually appealing, colour coding can present challenges:

Accessibility Concerns

Customers may find it difficult to find specific items. That is why you need a hybrid system in your traditional layout.

Inventory Management

Restocking can be more time-consuming. That is why you need a secondary location in your POS System.

The Psychology of Colour in Retail

Colour psychology does shape our perceptions. Warm colours like red create excitement, while blue is very professional. Green promotes relaxation.

Conclusion

Colour-coded shelves provide a fresh, visually appealing strategy that does work in retail.

Let me know how it turned out for you if you give it a go.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.

Over the years, I have been involved in many natural disasters throughout Australia, so I understand the challenges Cyclone Alfred has created for affected retailers. If your business has been impacted, here are some practical steps to take after Cyclone Alfred retail impact.

Financial Hardship Assistance

Please get in touch with your lender right away if you're having financial difficulties. Major banks, e.g. NAB bank. There are dedicated hardship teams trained to assist customers affected by natural disasters, but you need to act ASAP, as most of these programs end next month. These teams have quite a lot of power and can offer you temporary financial arrangements such as reduced payments, payment deferrals, or alternative payment plans. Inquire if these arrangements can be backdated to protect your credit score.

Many lenders offer additional assistance, such as deferring loan payments, waiving fees, consolidating debts, or deferring credit card payments.

In my experience, they want some token repayment level to demonstrate your commitment to recovery.

Government Support

The Australian and state governments have several disaster recovery programs for Cyclone Alfred, such as NSW. Check eligibility for support for these schemes. These programs offer grants and low-interest loans to aid small businesses' recovery.

Supply Chain Management

Cyclone Alfred has disrupted many regular supply chains, making it difficult to get products. If your current suppliers have not contacted you yet to find out the score, contact them. Reach out about any changes in your business operations.

Staff Support

Your employees are the backbone of your business. Please be sure to provide flexibility and understanding as we navigate this situation. Many have a considerable emotional toll.

Community Engagement

Your customers' needs will change in the immediate time frame. You need to check on this.

People are telling me that the public is now hot buying damaged goods. If you have damaged goods, it's a good time to clear them out.

Customer Communication

Could you update your website and social media, like Facebook and Instagram, to reflect business changes? Share images and messages about changes to your shop? Share updates about your recovery progress especially damage, and your hours. It keeps customers engaged, and it's something they can relate to.

Also, if you have a customer database, could you consider making email newsletters? These direct communication channels ensure that critical information reaches loyal customers quickly. If you want any help with this, we can set you up with a free email newsletter service.

Insurance Claims

If your business has been damaged, please go ahead and review your insurance coverage immediately. You must document everything thoroughly—take photos and videos of any damage before clean-up efforts. This evidence will be essential when lodging claims with your insurer. The Insurance Council of Australia has declared Cyclone Alfred an Insurance Catastrophe, meaning your claims will be prioritised.

Utility Providers

Please let your utility providers know about your situation. Many of these also have hardship programs for businesses affected by disasters. Request payment extensions or deferrals to ease cash flow. Question any late fees, reconnection costs, or other cyclone-related charges. After all, it's not your fault the cyclone happened.

Protecting Your Equipment

After Cyclone Alfred, electricity supply remained unstable in some places. A UPS (Uninterruptible Power Supply) can help as it protects your POS systems and other electrical tools.

Communicating with Your Landlord

If you lease, contact your landlord about any cyclone damage affecting operations. If you ask they may help with temporary rent reductions or delay payments.

Determine who is responsible for what. Also, these repairs must be done now.

Documentation is Key

Keep detailed records of communications with lenders, insurers, utility providers, and landlords. Save copies of emails, letters, agreements, and receipts; too much documentation is better than insufficient.

Contact your state's Ombudsman for support if you have issues with specific organisations. They can intervene for SMB retailers in disputes with utilities, financial institutions, or landlords.

Disaster recovery for businesses

Recovering from a disaster like Cyclone Alfred can be challenging for SMB retailers, but taking proactive measures can make a significant difference.

Disclaimer

While this article provides general advice on managing the aftermath of Cyclone Alfred, you should consult local authorities or disaster management experts for specific guidance tailored to your business needs.

Written by:

Bernard Zimmermann is the founding director at POS Solutions, a leading point-of-sale system company with 45 years of industry experience. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.