I was listening to a talk on retailing. One point that became clear is the growing importance of males in shopping today. We are seeing a remarkable shift underway in today's shopper demographics, challenging long-held beliefs about who does the shopping. Contrary to traditional notions, men shop for basics almost as frequently as women.

Too many retailers are not considering this.

Where there was a family in the United States in 2023 by gender; this was the grocery shoppers. Check this chart below.
 

I found it interesting that if someone is shopping for themselves, men and women are now doing their shopping.

In another study, I found the result was 51% for women and 49% for men. 

Gender consumer behaviour

While the frequency of shopping today is comparable between genders, studies do show notable distinctions in gender behaviour:

• Spending Power: Women spend more per trip than their male counterparts. This difference is why women hold a more prominent role in shopping.

• Shopping Preferences: Men are generally more inclined to shop online and at convenience stores. They like the convenience of these channels. Women seem more likely to shop in physical shops as they prefer the in-person shopping experience.

• Shopping Mindset: Men are likelier to have a predetermined plan and, most importantly, stick to it. If a male comes to your shop, you better have what he wants. Women are more open to impulse purchases.

• Price Sensitivity: Men are typically less price-sensitive than women shoppers. Therefore, you could market higher-priced items to males than females.

Implications for Retailers

1. Optimize Store Layout: Evaluate your store layout. Retailers must ensure that the items men are looking for, such as staple goods and household supplies, are prominently displayed and easily accessible while creating dedicated browsing zones for women.

2. Strategic Merchandising: For males, consider going upmarket. If dealing with women, you need to make sure the area has plenty of cross-merchandising and impulse product placement to encourage impulse purchases and cater to women's shopping tendencies.

3. Gender-based marketing: If you are marketing to men, emphasise convenience, while for women, highlight promotions, new products, and their in-store experience.

Adapting to the New Normal

You need to consider your shop to better accommodate these trends. 

Can you imagine a world where every purchase involves manually entering the department and the price of every item at the checkout? Such a scenario might appear to have been lifted from a 1980s video game, but it was a fact for retailers then. Then came the barcode.

Fifty years ago today, on June 26, 1974, the first commercial barcode scanning was done on a Wrigley's chewing gum pack. Those stripes may seem simple, but they revolutionised how we shop!

After the barcodes were released, we released the first magazine barcoded return system here. At first, because it was so new, we had to manually put on a barcode sticker as many magazines did not have barcodes.

I am in the middle, boy. I was proud that day as no-one had ever done anything like this before, and next to me was Joe, the programmer who did most of the analysis for the returns. We had a deal between us; I handled the newsagency stuff and the data handling, and he dealt with the magazines. It was in DOS. The result is that we saved our clients a lot of time and money.

How the Barcode Changed Retail (and Saved Money!)

Before barcodes, cashiers rang up sales by manually entering in price and department codes. This process was slow and error-prone, frustrating customers and costing retailers money. The barcode, however, changed everything. Here's how:

• Faster Checkouts and Happy Customers: A simple scan eliminates the need for manual code entry, resulting in shorter queues, happier customers, and improved staff productivity.
• Reduced Errors and Happy Staff: Barcodes are much more accurate than manual code entry, leading to fewer mistakes and happier staff (no more hunting for the correct code!).
• Improved Inventory Management and Reduced Costs: Barcodes allow retailers to track stock levels more efficiently. This means there's less chance of running out of popular items, less money tied up in unnecessary stock, and better-informed ordering decisions—all contributing to significant cost savings.
• Enhanced Customer Experience: Beyond speed, barcodes enable features like price verification at checkout, reducing customer confusion.

The Barcode and Modern POS Systems: A Powerful Partnership

The barcode laid the foundation for modern POS systems like the ones we offer at POS Solutions. Here's how they work together to streamline your operations further:

• Product Data at Your Fingertips: When you scan a barcode, the POS system instantly retrieves the product information, including its name, price, and the applicable GST Code.
• Automatic Inventory Updates: Each scan automatically updates your inventory levels in real time, ensuring you always have accurate stock data and can make informed decisions about reordering.
• Sales Tracking and Informed Decisions: POS systems use barcode data to track sales trends and identify popular items. This information helps you decide stock levels, promotions, and future ordering.
• Seamless Integration for a Smooth Experience: Modern POS systems seamlessly integrate with barcode scanners, creating a smooth and efficient checkout experience for you and your customers.

Next Step of the Retail Industry

The introduction of a barcode, no doubt, has been a breakthrough, but the technology is still developing. We at POS Solutions are very optimistic about the future of retail efficiency, involving the following, which we are introducing:

• 2D Barcodes: These data-rich barcodes can hold more information than traditional barcodes, potentially including product descriptions, origin details, and even expiry dates.
• QR Codes: These square-shaped codes can be scanned using smartphones, opening up new possibilities for customer engagement and product information access.
• RFID Tags: These tiny radio frequency chips offer even greater tracking capabilities and can be used for tasks like automated inventory management.

These advancements can inspire, but the barcode is essential in the retail ecosystem. Remarkably, this solution made the most significant difference in modern retail.

Ready to leverage the power of barcodes and modern POS systems for a more efficient and profitable future? Contact POS Solutions today to learn more about our innovative solutions!

Hey there!

This is the last week of this financial year. EOFY is just around the corner! This is the last chance to take advantage of this fact.

We've been talking with our technology suppliers, and they have given us some awesome deals!

Think of it: EOFY means they need to budget, so they need sales. Plus, they have to justify to their stakeholders the stock levels they have now, so they are trying to get rid of their stock. I can assure you that they'd rather sell what they have now at a discount than count it.

Does this all sound familiar? 

Now is your chance to snag top-notch POS equipment at good prices.

Plus, EOFY is tax time in Australia! Did you know the government lets you claim a deduction for your POS equipment system? So you get some money back, plus an extra discount. 

It is a double win!

Why Upgrade Your POS System Now?

• Save Big Bucks: Score amazing EOFY discounts and get a fantastic POS system for way less. 
• Be a Tech Superstar: Don't get stuck in the past with outdated technology. Upgrade now, and be the envy of your friends!
• Work Like a Boss: Modern POS systems make everything quicker and easier, saving you time and effort. 
• Tax Time Bonus: Remember, the government will help you with the cost of your new system. 

We Can Help!

Here are the EOFY sale details; check it out here.

Don't miss out! These EOFY deals won't last forever. Call us today for a free chat, and our friendly experts will help you find the perfect equipment for your business.

Just make sure you get the best value and a sweet tax benefit! These deals will not wait for you to act as these are in my experience strictly limited-time offers

The time has come again, and if you are feeling a bit nervous about the impending end of the financial year. Take a deep breath; if it makes you feel better, we are all doing this now. 

To get started, here's a checklist of the essential financial statements your accountant will need to produce your business accounting and tax preparation: profit and loss statements, balance sheets, and, if you use them, a cash flow statement. Please check with them what more they need and what dates they require these reports.

I suggest printing them all in detail, as you may need them to support your figures. Do not worry if it seems too much; I have never heard an accountant complain if they are given too much.

For the tax-savvy, review these reports and look for opportunities to write off any lousy stock or bad debts.  I suggest highlighting them so you can discuss with your accountant what they want to do with as these write-offs can potentially translate into tax deductions. 

Although many people do, our system does not need a unique backup for EOFY.

End-of-Financial-Year reporting

Sales Reports

These will give you the totals of your revenue streams. 

Stock Valuation

You will need to do this after you conduct your stocktake. This report will provide a comprehensive picture of your current inventory levels and values and will clearly show your inventory management.

Accounts receivable (debtors)

This report will give a total of your customers' debts and also highlight any unpaid invoices or outstanding balances. 

Accounts payable (creditors)

If your POS software tracks creditors, this report will give you the total amount of any outstanding payments you owe to suppliers or vendors.

The Webinar

Our team has prepared a video from a webinar that dives deep into the intricacies of end-of-financial-year reporting using our POS software. From dissecting each report to answering your burning questions, this webinar is a must-watch.

Remember, knowledge is power; these reports are vital to unlocking insights and opportunities. So, grab that coffee, roll up your sleeves, and let's conquer this financial year together!

Reporting and some helpful system functions for the End of the Financial Year.

Of course, if you need more help, give us a call.

Among all businesses operating in the retail sphere, efficiency and cost-effectiveness are of high importance. For merchants performing our Tatts Lotto barcode scanning, the integration has improved customer satisfaction by reducing checkout times, errors, and overall customer satisfaction.

This detailed manual will show you how to set up a POS system to scan barcodes for lotto transactions and secondary barcodes for customers who want payouts and digital wallet purchases. With our user-friendly setup process and comprehensive training, you can have the Tatts Lotto barcode scanning system up and running within a week.

What's Included

1. Tatts Lotto Barcodes: This section explains how Tatts Lotto barcodes are structured and how their content can be read.

2. Enabling Barcode Scanning: How to allow seamless barcode scanning into your POS System.

3. Setting Up Stock Items: Detailed guidance on creating and configuring stock items for various lotto products, including assigning appropriate suppliers, dissections, families, and classes.

4. Handling Payout Barcodes: Learn how to add and set up payout barcodes for Lotto Payout, Scratchie Payout, and Membership Reimbursement transactions.

5. Lotto Product Code Reference: Access a comprehensive table listing the Scales ID and Pre-Paid Scales ID for a wide range of lotto products, ensuring accurate setup and efficient operations.

6. Seamless Integration: Discover how to integrate the Tatts Lotto barcode scanning functionality into your existing POS workflow, maximizing productivity and enhancing the customer experience.

By following this guide, you'll gain the knowledge and tools necessary to streamline your lotto transactions, reduce manual errors, and provide a seamless experience for your customers. Embrace the power of Tatts Lotto barcode scanning and take your retail operations to new heights.

Here is what one of our customers told me "Since implementing the Tatts Lotto barcode scanning solution, our checkout times have reduced significantly, leading to happier customers and increased sales,"

Contact us today to schedule a demo and learn more about implementing this game-changing solution for your retail business.

Now, at the end of the financial year, we are releasing this video, which provides a complete YouTube tutorial on how to do the physical count for a stocktake using our POS Software.

We walk you through this essential inventory management system and explain the options and best practices.  This video would be useful as a training and reference resource for anyone who needs to perform stock control using POSBrowser. 

It covers the two main approaches—doing the full shop at once or breaking it down into smaller location-based sections. Although both work, we advocate the location-based approach, which we find more efficient. Prepare your plan by dividing the shop into sections. Then, stocktake each section one at a time. This makes the process more manageable and accurate. 

The video demonstrates creating a new stocktake, correctly scanning/counting items, and correctly recording it. We also cover the necessary settings like "Check Stock Movement" if you are doing it during trading. It shows how to run reports to see discrepancies, cost valuations by department, and more. The reporting capabilities highlighted allow you to analyze and audit your stock position.

The clear explanations and visual demonstrations make it a valuable reference for new and experienced users. I suggest getting your staff to run through it, too.

"The integration between stocktake data and our ordering process has streamlined our operations significantly. We've reduced carrying costs, minimized stock-outs and given us accurate reporting." 

Mastering stocktakes is essential for the success for any retailer.

There are two kinds of customer loyalty programs in the loyalty program marketing in our market space.

- An upfront reward or discount voucher program

- A point-based loyalty program.

Our POS Software can implement both with flying colours. The shop selects the appropriate method based on its particular requirements and objectives.

Since I have worked on many occasions with reward programs, I can say that they are good tools for business owners. 

How Upfront Reward/Discount Vouchers and Point-Based Loyalty Programs work

Upfront Reward/Discount Voucher Program

An upfront reward or discount voucher program provides customers immediate discounts or rewards upon purchase.

How It Works:

1. Distribution of Vouchers: Retailers distribute vouchers at each sale in the receipt; sometimes, they issue them free as advertising offers.
2. Customer Usage: Customers receive these vouchers and can use them instantly to get a discount on their next purchase. 
3. Instant Redemption: The reward is applied at the point of sale, giving customers immediate benefits.
4. Tracking and Analysis: Retailers track the redemption rates and sales generated from the vouchers to evaluate the program's success.

Example: A newsagent offers a 60-cent discount voucher on a purchase. Customers can now use this discount on their next purchase. This encourages them to return to the store.

Strengths of the Voucher Program

The upfront reward/discount voucher program is straightforward and effective. Here's why:

• Low, upfront technology/integration costs: This program requires little effort. A retailer with our POS system can have it up and running in less than 30 minutes.
• Simplicity: It’s easy to implement and to understand by customers and staff.
• The immediacy of rewards: Customers receive instant gratification, which drives quick sales and makes it ideal for creating spontaneous transactions
• Keep customers: They encourage customers to come back.

Weaknesses of the Voucher Program

However, there are some downsides to consider:

• Limited customer data/insights: There is no tracking of customer purchases.  
• Perceived value: A voucher is generally a minor amount, so it is often dubious as a motivation.
• Margin erosion: Offering discounts can significantly impact your profit margins, especially with lower revenue.

Opportunities for Vouchers

Despite their limitations, vouchers present several opportunities:

• Appeal to price-sensitive customers: Drive immediate sales.

Threats to Vouchers

However, be aware of potential threats:

• Race to the bottom: Excessive discounting can lead to a race to the bottom, harming your shop’s perceived value.

Point-Based Loyalty Program

A point-based loyalty program rewards customers by issuing loyalty points on each purchase. After a certain number of points, they can redeem them. Generally, a cent equals a point. 

How It Works:

1. Enrollment: Customers sign up for the loyalty program, usually providing some information to create an account.
2. Earning Points: For every purchase, customers earn points based on the amount spent.
3. Accumulating Points: As the customers accumulate points over time, these are tracked in their loyalty account.
4. Redeeming Points: Once customers reach a specific threshold value set by the shop, they are hopefully incentivised to redeem their points for rewards, typically a discount, free products, or special services.
5. Ongoing Engagement: The program encourages repeat business by offering ongoing rewards and benefits for continued purchases.

Example:
Once a customer has earned enough points, a pet shop might offer them a $10 discount on their next purchase.

Strengths of the Point Program

A point-based loyalty program offers long-term benefits:

• Long-term loyalty: Delayed rewards foster long-term customer loyalty without an upfront investment, as unused points cost nothing.
• Tiers: It allows your customers into a different tier 
• Meaningful rewards: As they grow over time, they can be something of substance. 
• Credibility: This proven model is trusted and has credibility
• Customer data collection: Enables personalisation and better understanding of customer preferences.
• It allows customer communication: A shop can send monthly customer loyalty statements that advertise the shop. This is an excellent way of increasing your customer experience with your shop.

Weaknesses of the Point Program

Yet, there are also some drawbacks:

• Management overhead: It requires an advanced POS System like ours to run effectively
• Long-term:  It takes time for the program to be meaningful to the customer.

Opportunities for Points

Points programs also offer significant opportunities:

• Loyalty development: Building a loyal customer base early can provide a strong foundation for growth.
• Unique rewards: Differentiating your program with unique, memorable rewards can enhance customer engagement.
• Future CRM integration: As your business grows, you will benefit from our free retail CRM and loyalty tools.Threats to Points

Threats for Points

• Competition: Keeping up with larger competitors' loyalty programs can be costly.
• Reward expectations: Struggling to provide aspirational rewards might disappoint customers.
• Operational distraction: Managing such a loyalty program can take time.

Return on Investment (ROI)

Measuring its return on investment (ROI) is vital to establishing a successful customer loyalty program. Never forget that we are dealing here with price cannibalization.

Here are key performance indicators (KPIs) that I have seen used to track them:

Both of them

Cost of the program: You are giving away a lot of discounts, so you need to calculate the amount

Time of the program: Conducting such a program will take time, so you must add it up.

KPIs for Voucher Programs

• Redemption Rate: The percentage of distributed vouchers that are redeemed. A higher rate indicates strong customer engagement.
• Incremental Sales: You must establish sales generated directly from the voucher program. This helps measure the program's impact on revenue, but it is very difficult to do.
• Customer Acquisition Cost (CAC): The cost of acquiring a new customer through the voucher program.
• Average Transaction Value: The average amount spent by customers using vouchers. This metric helps assess the program's impact on spending behaviour.
• Repeat Purchase Rate: The percentage of customers who make subsequent purchases after redeeming a voucher.

KPIs for Point-Based Programs

• Enrollment Rate: The percentage of customers who join the loyalty program. This indicates the program's attractiveness and reach.
• Active Participation Rate: The percentage of enrolled members who earn and redeem points. High participation suggests strong engagement.
• Customer Retention Rate: The percentage of customers who continue to shop with you over time. This metric measures long-term loyalty.
• Lifetime Value (LTV): The total revenue a customer generates during their relationship with your business. This helps evaluate the overall effectiveness of the loyalty program.
• Points Redemption Rate: The percentage of earned points that customers redeem. This shows how valuable and attainable the rewards are perceived to be. What you should closely monitor is the point when these are redeemed.

Calculating ROI

To calculate the ROI of your loyalty program, use the following formula:

=(Net Profit from Program) - (Program Costs) /  (Program Costs)  x 100%

• Net Profit from the Program is the additional profit from the loyalty program.
• Program Costs include all expenses related to running the program, such as discounts, rewards, and administrative costs.

Conclusion

Choosing between an upfront reward/discount voucher program and a traditional point-based loyalty program depends on your specific needs as a small retailer. Both strategies have their pluses and minuses and be effective. Like everything, you have to use some intelligence to make an informed decision. 

This question arises every year and again this year. Here, I will discuss the importance of stocktaking for businesses and address common objections. 

We also explore the advantages of performing a stocktake, even when facing challenging circumstances. Additionally, we highlight the potential risks of skipping a formal stocktake and how implementing regular rolling stocktakes throughout the year may offer better results.

Firstly, stocktaking is a critical process for retailers, ensuring accurate management of inventory levels. Despite perceived challenges, I think its benefits far outweigh the drawbacks. Modern POS software can streamline the stocktaking process. It's not just for the ATO; I have seen many retailers whose profits have mysteriously disappeared. We are not talking small figures here. Theft, damage, or errors of the inventory mean a significant time loss to the retailers, which also implies a substantial loss of revenue due to the problems of the businesses. You can substantially decrease the losses and increase the revenue by carefully regulating your inventory.

Objections to Stocktaking:

Stocktaking can be viewed as a tedious and resource-intensive task, with several arguments against its necessity:

It consumes time and effort
It incurs additional costs without generating revenue
Disruptions to daily operations can negatively impact sales

These concerns are legitimate; however, there are compelling reasons to perform a stocktake despite them.

Legal Requirements for Stocktaking:

According to the Australian Taxation Office (ATO), businesses must perform a stocktake if they cannot accurately estimate their current stock levels based on historical data and do not meet specific conditions. These conditions include:

The difference in stock values between the previous financial year and the current financial year is less than $5,000

Using a reliable method, you can reasonably estimate your current stock levels and maintain sufficient evidence to substantiate your estimates.

Please read this page from the ATO here on this question and pay particular attention to the square I marked in red. 

I am sure every client I have has at least a $5,000 inventory difference between this fiscal year and the previous one. 

It is your responsibility to affirm your stock figures to the ATO, at least to their complete satisfaction, so that the ATO will regard your figures as reliable evidence.

Rolling Stocktakes vs Formal Stocktakes:

There's debate over whether to conduct traditional annual stocktakes or opt for rolling stocktakes throughout the year. While rolling stocktakes offer real-time insights, they can be more resource-intensive than formal stocktakes. Both methods have their merits, but accuracy in stock valuation remains paramount for tax purposes.

Advantages of Performing a Stocktake:

A well-executed stocktake offers numerous benefits for businesses, including:

By comparing the inventory on record with the actual stock, one can obtain the data needed to make better stock orders, properly manage inventory, and prevent loss at the premises in cases of theft or things are just out of place. This information can then be used to devise better security measures.

Products are checked to see how many are near expiry and if stock is spoilt and damaged. Often, this allows last-minute sales to recover whatever value is left in these goods.

Getting technology that provides 24/7 visibility of the inventory status and the capability to view, track, and control the flow of goods in and out of the business will ultimately increase operational efficiency, accuracy, and, more importantly, customer satisfaction.
 

POS Software Benefits:

Our POS software comes equipped with robust inventory management features to simplify stocktaking:

• Barcode scanning: Scan product barcodes for faster and more accurate counting.
• Real-time inventory updates: You do not need to close the shop to do a stocktake.
• Stocktake reports: It generates detailed reports to analyze discrepancies and identify trends.

Conclusion:

With their circumstances, different businesses ought to decide whether to implement a formal or rolling stocktake. The legal aspects and benefits, which must be balanced with each approach, should form the basis for a decision. By taking these necessary steps, you can make wiser decisions. 

Whichever way you go, I wish you all the best for your business.
 

Somehow, I doubt anyone in the world has been as involved in stocktakes as I have. Stocktaking is one of the best practices and a crucial process for any business in 2024. It involves physically counting your inventory to ensure your records match what you have on hand. This can be daunting, but it is the best way to control inventory. It is also your way of testing your inventory management system. For example, Excess Inventory, *Eating Away* at your profits in 2024, and checking your inventory data.

Why Inventory Management Matters

In today's dynamic market, real-time inventory visibility is essential for success.

Current studies are showing "found that inventory record inaccuracies are a significant problem, affecting approximately 60% of stock  analysed. Interestingly both positive and negative inaccuracies had a detrimental effects on sales and correcting these inaccuracies led to a 4-8% increase in sales" 

Effective inventory management allows you to:

Stock management

Regular stocktaking helps you identify excess inventory and your inventory tracking and assess your current inventory control. For example, people often find "dead stock" just sitting there and holding their cash flow.

Improve Inventory Accuracy

Accurate inventory levels are the foundation for informed decision-making. Regular stocktaking ensures you have the right stock to meet customer demand.

Accounting requirements

A properly conducted stocktake is the best way to prove and justify your stock holding to the ATO. Estimates are always dubious to an auditor, and if the auditor feels that you do not have good inventory management techniques and stock keeping, they can make and use their estimates. I have seen this problem happen with clients that have used cyclic stocktakes.  I have discussed this issue here.

Tips to get your stocktaking procedure going in 2024 going.

Preparation is Key

Thorough preparation is critical to a successful stocktake. Schedule your stocktake for a quiet time, organise your shop as much as you can before, and consider what people are best for getting faster and more accurate counting. Remember as well that:

-Stock counting tends to work faster if people are in teams, so consider dividing people into teams of two or three people; I find that two people to count and one to record the count makes an effective team.

-A stocktake is an excellent opportunity to check pricing, barcode, and product labels while counting.

-It is also an excellent opportunity to clean the shop.

-Plan how to split the task into blocks to keep your staff motivated and alert. We recommend that you divide your shop into manageable counting areas. Label each section clearly. You should aim for each area to be something that can be done in one to two hours max. This makes it easier to have regular breaks

-If you have a warehouse, make sure it is not missed. Often, it can be done on another day.

-Move stock as much as possible to the appropriate counting area. You want stocktake day to be as simple and fast as possible.

-You can take a few days as a stocktake can be done in more than one day.

-Sometimes, you cannot count but will have to use estimates.

Check your Technology

Modern inventory management software has revolutionised the stocktaking process. Our POS system integrates with stocktaking software, automates tasks, and streamlines the entire process, but make sure the setup you intend to use works. I have seen how frustrating it is for people to assemble their teams, start the stocktake, go to record stock levels, and discover something isn't working. Make sure your stocktaking software and equipment work now! 

Test your equipment and verify it works. Confirm that the chargers and batteries are all fully operational and ready for use. It is also an ideal opportunity to familiarise yourself again with their operation.

If you can use laptops or, better still, PDTs, both will be real-time savers as these can move around the shop rather than going to the items to count. If you have a laptop, ensure it works with our POS Software.

Review how stocktakes work.

Develop a Systematic Counting Procedure

Establish a clear and consistent method for counting your inventory. This could involve counting by sections or categories to ensure no stock is missed or double-counted. In Australia, it is generally considered easier to count from left to right—bottom to top. Make this a rule before you start, and make sure everyone knows this in advance.

-As you count, prepare place markers to mark counted areas to avoid missing or double-counting sections.

Common stock issues

These problems you need to address before you start the stocktake:

-Have a problem holding area where problem items that appear while doing a stocktake can be moved too, allowing you to move on in the stocktake and not be held up. You are trying to streamline the process.

-Move as many problem items into this holding area as possible before you begin.

-Review the types of inventory you have. For example, put all laybys, consignment items, or items waiting for dispatch in separate holding areas. Later, you must check with your accountant about how they want these items handled.

Conclusion

These tips will help you make a successful stocktake. If I missed something, please let me know.

We are reviewing our complete stocktaking guide, so give us a few days to review it. We will also release some other guides on specialised issues in stocktaking. These guides will equip you with the latest knowledge to improve your bottom line.

Happy stocktaking!

Making fact-based decisions is vital to maximising profitability in your shop. We will discuss how you can leverage data in your Point of Sale (POS) software to evaluate stock performance effectively. By analysing sales reports and companion sales, retailers can gain valuable insights into which products drive profitability and customer engagement.

Understanding the Dynamics of Sales and Profitability

Operating a retail business requires consideration of every kind. The main aim of decision-making is always to identify what to sell through pricing for maximum profitability. However, it goes beyond just making sales; it involves knowing how much customer behaviour affects the quantity sold and profit margins earned per unit, among other things.

Evaluating Stock Performance

Step 1: Assessing Sales Data

The journey begins with delving into your Point of Sale (POS) Software. By examining your selling reports, you gain valuable insights into how each product performs regarding sales volume and profitability. But here's where things get interesting: what if an item sells well but doesn't contribute significantly to your bottom line? This is where the pivotal question arises: Does it attract customers who purchase other items?

Step 2: Navigating through Register Reports

1. Navigate to Register Reports in your POS Software.
2. Select "Top N Stock Sales for a Given Period."
3. Input a timeframe, like a year, and request data for the top 100 items by quantity.

Deciphering the Data

Upon generating the report, you'll encounter a wealth of information.

Out comes a report with the top sellers for that year. 

Let's take a closer look at this example:

In contrast, the item ranked 44th above it yielded a profit of $1159. This stark contrast prompts a critical question: Is the profit from the envelope sufficient to justify its presence in your inventory?

Unraveling the Impact on Sales Companion

To delve deeper into the matter, explore the Sales Companion feature:

1. Head to Reports > Sales Register > Stock Sales Companion Sales by Period.
2. Specify a period, such as the last financial year, and search for the product "ENVELOPE TUDOR."

Analysing Companion Sales

The resultant report unveils a list of items sold alongside the envelope, culminating in a total profit figure. Here's where interpretation comes into play:

How much of that profit of $265.01 would you have made anyway, with or without that profit? That is something you have to decide. 

Additional Factors Influencing Stock Performance

Sales data analysis is essential, but there are other things that a person should consider regarding profitability and stock performance. They include:

Seasonality

Some products may have varying demand levels during different seasons.

Customer Demographics

Knowing the demographics of the people who buy from you can help determine what to provide them.

Market Trends

Keeping up with what is happening in your industry and in general markets will also guide decisions on stocking and setting prices.

Making Informed Decisions

With a comprehensive understanding of your sales data and other influencing factors, you can make informed decisions to optimize your inventory management and drive profitability.

Call to Action

Today, people have found that they can significantly improve their business operations, grow sales, and provide better customer service through point-of-sale (POS) systems.

Our sophisticated tools can unleash many benefits if used. 

It is said that facts are the clear windows through which you see the world as it truly is.

Software training

Introduction

Training on point-of-sale software is an essential component of your business. It is a powerful business tool that can manage inventory management, customer loyalty programs, sales reports, etc of your business. You can do it better if you are properly trained. 

This article examines the benefits of training and answers some often-asked questions.

Benefits of POS Systems Training

Increased Efficiency

With the proper training, you can quickly navigate your POS software, allowing you to focus on other aspects of your business and save time.

Better Service for Customers

If you better understand how your POS software works, you can make it easier for your customers, making them more satisfied and loyal.

Accuracy of the Data

The POS system offers a lot of flexibility. You need to know the correct procedures to enter and manage your data. We provide proper training to give you this knowledge, ensuring your business works with accurate information. We also will discuss if you require the importance of data security training to ensure you understand best practices for protecting customer information.

Improved Control

You have many reports that detail your business in detail. With better information, you can run your business much better. Soon, you'll be able to make better decisions about your business operations and get better results.

> This only works if you have good information.

You do not have to do it alone.

Our POS Software Training Program

Cost

Our software training program is free for our clients in our offices or on Zoom. 

In your shop, there will be charges.

Customization

Our training program can be customized to meet your specific requirements. It can be done using your actual data from the shop.

Expert Teachers

Our experts who contact our training program have years of experience in our software. They know how it works in retail environments like yours. They will be able to provide examples and solutions from actual situations to your issues and problems.

Practical Instruction

These sessions offer hands-on training to use the software and improve your knowledge in a real-world setting.

Flexibility

Training can be done at times that are suitable to your needs. Your staff can receive the necessary training without interfering with minimal business operations.

Continuous Support

Once done, you can book more sessions. There is no limit. That way, you can do a refresher and keep up with all our software updates. 

Frequently Asked About POS Software Training (FAQ)

Q: What is training for Pos software?

A: POS software training is a comprehensive program that teaches you how to use your point-of-sale software. It provides you with the knowledge and skills necessary to manage your business operations effectively. The training covers all aspects of the software, from basic to advanced features and functions relevant to your needs.

Q: Is training in Pos software required?

A: NO, but if you want to get the best out of your software and improve your business, then YES. 

Q: How long does training for Pos software take?

A: How long is a piece of string? Some need a lot of training, and some only a little. Some people use many features of our software, and some only need a bit. The length of your Pos software training depends on your particular requirements. 

As a rule, I recommend it is done in two-hour slots with a coffee break between 15 minutes—more than that, it gets hard to digest.

Q: Is in-person or online Pos software training available?

A: Pos software training is available online and in person so that you and your team can choose the best method.

In-person training provides better hands-on and interactive instruction.

Online training offers more convenience.

Q: Who ought to attend training for Pos software?

A: I want to understand why POS software training is not available to anyone in your shop, including staff members who use computers. 

Conclusion

> Formal Point of Sale software training is essential for maximizing the software's capabilities.

> It enhances business operations.

> It gives you more control.

> Training can help you get more out of your software and achieve better results, no matter how experienced or new you are to the field.

Master your POS software and take your business to the next level with proper training.

No cost and you have much to gain, give us a call.

Time is Money, and customer frustrations cost.

We've all been there - you're trying to buy something quickly, but the line at the checkout counter is ridiculously long. As the minutes tick by, your impatience grows. You start doing that little shuffle from foot to foot. If the wait is too long, you leave. 

According to studies, many shoppers will only tolerate a 5-minute maximum wait in line before they get fed up and leave. I know I've often cut my losses and walked out of stores with excessive queues. Retailers live and die by giving customers a fast experience, so losing sales to long lines is a total non-starter.

The Need for Speedy Service

This is where touch-screen point-of-sale (POS) systems can be a game-changer. I'm not just talking about a minor convenience here - we've seen retailers who switch to touch-screen POS experience seriously accelerated checkout times, like 15% faster on average. That's the difference between an angry mob of grumpy shoppers and a smooth, zippy experience.

Let me give you a picture of how it works: your cashier has to tap the screen a few times to ring up items instead of struggling with a keyboard. Applying discounts, updating inventory, and taking payments all happen with just a couple of taps and swipes. Suddenly, cashiers can move customers through the line at much greater speeds.

A Touch-Screen POS is Intuitive for Anyone

Getting customers through the line lickety-split is the big selling point for touch-screen POS. But it's not the only way this technology can revolutionize your operations. Let's break down some of the other key upsides:

Fewer Mistakes

We've all been there—you're the cashier, and it's a problem that you enter the information and look at the keyboard, so you accidentally punch in an extra digit, and suddenly, there is an error. With a touch screen, you are looking at the order, not the keyboard and the whole order is right there visually on the screen in front of you. See a mistake? Just tap to fix it—no hunting and pecking required. Crisis averted.

Intuitive Operations for Everyone

Few of us are one of those wizards who learned proper touch typing. For the rest of us mere mortals, trying to cashier on those is just asking for input issues. Tapping icons on a bright screen is infinitely more intuitive and natural.

Unlocking Team Efficiency

When your POS is easy to use, staff can quickly get up to speed on running the system. The visual layout and flow allow them to modify orders rapidly, apply discounts, and access additional functions without memorising endless button combinations. That means less dedicated training time and more productivity on day one.

Simple human factors like ease of use, accuracy, and efficiency pay huge dividends. A touch-screen interface eliminates many headaches, hassles, and mistakes that plague retail businesses. Your customers enjoy a better experience, your employees operate more effectively, and your bottom line gets a serious boost.

The current reality

The bottom line is that touch-screen POS cuts down on wait times and avoids mistakes, giving every customer a VIP checkout experience. That's how you build loyalty and keep those hard-earned sales returning through your doors.  

These are lovely touch screens with customer displays included, too.

Outdated technology should not be holding you back. Upgrade to a cutting-edge touch-screen POS system and start delivering the exceptional customer experience your shoppers deserve. Request a quote now.

The better store space you have can drive sales and profits. A floor plan helps you look at your space from a new perspective. It lets you see how well your space works. We can study some key facts about your space. These facts show how well your space is used. Let's learn how to find these key facts, and then we can decide how to improve your space.

Why Space Performance KPIs Matter

You are paying for this space, so you must use it wisely. 

A floor plan helps you analyze your store's space and make wise choices. Let's explore how to calculate and understand these space indicators. This way, you can use data to grow your business.
You pay for your store space and want to use it well. Space indicators show how you use your shelves and areas. You see which spots work best by measuring sales or profit per shelf meter. This data lets you decide where to place products and manage stock. Better use of space leads to higher sales and happy customers.

Planograms

These are fundamental tools in retail today. They serve as detailed blueprints for arranging merchandise in a shop. They are visual representations that detail where and how retailers should place products on retail shelves or displays. 

There are a few critical elements to a planogram:

Shelf space allocation - Determining how much shelf space each product receives based on sales data to give high-demand products prominence.

Customer flow - Understanding how customers navigate and move through the store layout.  

Visual appeal - Creating attractive, balanced displays and colour schemes to improve the shopping environment.

Step-by-Step Guide to Calculating Space Performance

Follow these straightforward steps to calculate your space performance KPIs:

Measure Your Shelf Space:

Start by accurately measuring your store's linear metres of shelf space. I prefer using a tape measure, but pacing out the distance works.

Create a Detailed Store Layout:

We call this a planogram, and a typical one looks like this:

Create a precise drawing of your store using a large sheet of paper or cardboard. I find it helpful if it is lined. Include key areas like shelves, departments, and product sections. This visual guide will make it easier to examine your significant numbers later. In practice, I need to make a few attempts, so I do it once or twice with paper and only then use cardboard. I then recommend photocopying that sheet and working on the photocopy. Then, you can quickly make a new planogram when required, as it has many uses, which I have already discussed here.

Gather Sales or Profit Data:

Now go to your point of sale system and get sales figures. Instead of using sales, I recommend using the number of sales and profit. So, I tend to use profit here because I think it's the most meaningful, but many prefer numbers. 

Divide Sales/Profit by Linear Metres:

I prefer to use Excel for calculations, but many use calculators.

Divide the total numbers by the overall linear metres you have to give you an average. This will be your baseline.

Now divide the sales, number, or profit by the linear measurement. For example, if you had a $3,300 profit in that period and the shelf you paced is three steps, then your KPI = 1,100. Now go through each department and calculate the figures.

Categories Performance:

• Blue: Very good
• Green: Above average
• Yellow: Average
• Orange: Below average
• Red: Poor

Now, we divide the results into five groups. I find it quicker to take the top items as they stand out and put them in my blue group, and then I dump the bad ones in the red. Now you are looking at the rest for every three yellows, a green and an orange. 

Visualise Results on Your Store Layout:

Use colour coding to mark the performance categories on your store layout drawing. This visual representation will help you quickly identify areas performing well and those needing attention.

Interpreting and Acting on Your Space Performance KPIs

See where the green arrow points. Apparently, there is something to investigate at these spots. See the green arrow pointing to red. This is a problem. Everything around is blue, so it is not the location. As this simple example shows, this KPI is a good indicator of how effective your use of space has been. You can use this to make stock, marketing, and layout decisions.

Although I have used profit here, try the same thing with numbers. What you want with numbers is to see that your clients are attracted to going deep into the shop.

1. Identify Underperforming Areas: Look for sections marked in orange or red on your store layout. These areas may require changes in product placement, merchandising strategies, or promotional efforts to boost performance. Often, the suggestion here is to reduce the spot size.

2. Analyse High-Performing Areas: Examine the blue and green sections to understand what is driving their success. Consider increasing the spot for the points marked in blue.

3. Monitor Customer Flow: Pay close attention to areas where customers seem to be drawn in deeper or where they tend to linger. This technique can assist you in enhancing product arrangement and layout to encourage more browsing and impulsive buying.

4. Adjust Stock Levels: Use this KPI information to adjust stock levels for various products or categories, ensuring you have the appropriate inventory in suitable locations. Increase the spot size for high-performing items and decrease it for underperforming items.

5. Implement Strategic Promotions: Use your KPI data to check the underperforming areas. Alternatively, you may consider replacing underperforming items with other stock that sells better in those areas.

6. Regularly Review and Adjust: Measuring and analyzing space performance KPIs should be ongoing. Review it regularly to maintain an optimized and profitable store layout.

Continuous Improvement and Customer Satisfaction

As discussed, measuring and analysing space performance KPIs is a continuous process. Regularly reviewing and adjusting your store layout and product placement based on your data ensures that your store is continually optimised for maximum sales and customer satisfaction.

The reality is that facts should have the final say, not your gut feeling.

Start now to maximize your store's potential. It takes about half an hour, and you will have much to consider. So start measuring your space performance KPIs today.

EOFY, or the End of the Financial Year, is when you close the books. This year, the EOFY falls on a Sunday (June 30th, 2024), which can make things messy regarding your financial records.

The Perils of a Weekend EOFY

Here's the potential snag: some businesses close their accounting books on the Friday before the EOF, while others wait until Monday morning. This means invoices and credit notes sent Thursday or Friday might not reach your accounting system until next week. With Australia Post delays, you may find that your crucial invoices and credit notes aren't reflected in your records for quite a while. As a result, some companies' financial books will have figures different from your books for the EOFY. This mismatch can cause problems later during tax audits. 

The ATO inspector will check your figures, cross-check them with your suppliers, and ask why they differ. Since the audit is generally done years after the event, it can be hard to justify your figures. You will be scrambling to explain the discrepancy. You do not need these headaches.

This is precisely the situation that happened to us. One company sent us a credit note on Friday, which we did not get until a few days after the EOFY. Another company reviewed our debts to them long after and then backdated them to the EOFY.  Both of these cost us. 

Taking Control

You must ensure you have something in writing from your suppliers justifying your EOFY figures. If you cannot get that, you must ensure that your POS and financial systems can provide the information to explain your figures.

• Try setting a deadline for receiving invoices and credit notes before EOFY. 
• Chasing outstanding invoices/credit notes from suppliers.
• Make sure you get something in writing.
• Close your books a few days later if possible to get verified figures.

One big plus with our POS system compared to others is that you do not have to close the books at the EOFY, so you can keep processing and correcting them as information comes in.

Bad pricing can be a death sentence in retail. It would be best to have the right pricing strategy to operate in this ultra-competitive landscape. Here is the game-changing solution to help you achieve that.

The Pricing Predicament: Challenges Galore

• Customers question your prices, leaving you scrambling for justifications.
• Suppliers are inquiring about your price, and you're unsure how to respond transparently.
• Endless hours spent analyzing historical pricing data to determine what works for you.

We've developed a cutting-edge solution that puts you back in control of your pricing strategy.

Introducing the Game-Changing Pricing Tool

Our innovative Point of Sale (POS) software boasts a revolutionary "Price Change" feature that revolutionizes pricing management. With just a click, you gain access to:

• A comprehensive pricing history for every product
• Effortless cost and retail price comparison (displayed in red and blue)
• Historical data to inform your pricing strategy

This will set you apart from the competition.

How to use this price-changing tool

You will find a Price Change screen in green above in the stock item. 

Now when you click that, you get another screen with the cost price shown in red and see the blue arrow, you have your retail price. 

Now, you have a complete history of the costs and retail prices and can sort by date. This can help you determine your retail pricing strategy and the right product price.

With just this click, you gain access to:

• A comprehensive pricing history for every product
• Effortless cost and retail price comparison (displayed in red and blue)
• Historical data to inform your pricing strategy

In my experience, the process is quick to do. Also, what I find very useful is assessing the price vs. sales. There is no point selling too cheap if you can get more.

Elevate Your Retail Success to New Heights

Don't let pricing hold your business back any longer. Take control of your pricing strategy today and unlock a new level of retail success. Your business's future is in your hands.

The End of the Financial Year (EOFY) is a great time for sales and to get rid of dead stock.

More details here.

The clock is ticking right now, so this EOFY presents a window of opportunity that retailers should not miss.

Why Now?

Consider these factors:

• Tax Refunds: People expect tax refunds, providing extra disposable income.

• Accountant Recommendations: Accountants will often advise their clients to make purchases before the end of the financial year to maximise deductions.

• Crucially, for the End Financial Year (EOFY)/ Mid-Year Sales, which have now commenced, is that the ‘Instant Asset Write-off Extension’ for purchases of up to $20,000 is set to end on Sunday, June 30.

Planning Your EOFY Sale

Here's how you can make the most of your EOFY sale:

Assess Your Inventory: Take stock of your inventory, particularly items sitting idle now. These items will serve as attractive loss leaders to draw customers in. Most of us are sitting on a heap of old (dead) stock. It tends to be pretty noticeable this time of year because we are looking at counting it. This stock, if unsold, sits uselessly on the shelf, so tying up cash unless you do something.

Our POS software has an extensive system to help you identify this old stock.

Click here for a training video on the identification of such stock.

As a tip, it's best to work with each department separately.

Instead of discounts, also consider bundles. Use the unsellable item as a discount to sell more sellable items.

Consult Your Suppliers: Reach out to your suppliers for insights and ideas. This is what we are doing now, I am telling them now. You may be able to sell it now or count it later. What would you prefer to do? Also, many of them are now budgeting for the end of the year, and they often need a lot of money now. 

Research Competitors: See what other retailers like you do for EOFY sales. This can inspire you. Try to differentiate your offerings.

Crafting Your Strategy

• Discounts: Look for dead stock and consider using it as a loss leader to entice customers. A simple stand in front of the shop with cheap items works well.

• Business Section: Create a business section in your shop that people can review. Post a sign over it stating that everything you buy there may be tax deductible. 

• Promote your sale: Some in-store signage will be used to promote your EOFY sale. It would be best if you created a sense of excitement to encourage immediate action.

Conclusion

This EOFY season presents a unique opportunity for retailers to boost sales and clear out excess inventory. You can make the most of this lucrative period by planning your sale. Don't let the EOFY pass you by!
 

In today's marketplace, businesses must leverage every marketing channel to captivate their target audience effectively. Each channel offers distinct advantages and considerations.

Your POS System will give you details on what is selling now. Use that info to start your message.

Let us explore the compelling features of SMS, email, and Facebook/Instagram marketing, weighing their costs and benefits to help you make informed decisions for your business.

Some studies show that people who read business messages do give businesses a high success rate. The big problem with electronic messages is getting people to read them.  A typical rate today is about 22% open rate, with about 55% of those who read it action it. 

The fact of life is that you often get what you pay for in advertising. Hold this thought while we go through some options.

The Appeal of SMS Marketing

SMS marketing is probably the dearest electronic marketing option in our client base. Still, it provides some intriguing options with several compelling features that appeal to businesses seeking to engage their customers directly and instantly.

Immediacy and High Open Rates

SMS marketing will capture customers' attention immediately. Typically, they are read within minutes of receiving them. Additionally, SMS campaigns boast impressively high open rates, often exceeding 90%, surpassing email and other marketing channels.

I have a client who has a sandwich bar. Come to 2:00 p.m. if they are looking at a heap of sandwiches that will be dumped if not sold. They send out specials by SMS. Email will not help much if you need to move those sandwiches in less than an hour. Only SMS can do it.

The Cost Considerations of SMS Marketing

Here's a typical breakdown of the expenses for prepaid SMS bundles that would be valid for 12 months of purchase:

Once purchased, it is really about using them or losing them. I had a client who lost when they weren’t using as much as they thought they would.

As you can see, the SMS cost is higher for companies that send a few SMS messages. 

Many would consider $600 a year justified to send 1,000 SMS messages monthly to engage with their customers directly and immediately.

The Power of Email and Facebook Marketing

While SMS marketing offers unique advantages, email and Facebook marketing present compelling alternatives that can deliver substantial results without breaking the bank.

Cost-Effectiveness and Scalability

One of the most significant advantages of email and Facebook marketing is their cost-effectiveness, especially compared to traditional marketing methods or SMS campaigns. These options do not incur much cos, making them convenient for businesses with limited budgets. Email and Facebook marketing are highly scalable, allowing you to reach a larger audience without a huge additional cost. There is no cost for most of our customers; it’s free of charge. It's pretty hard to argue with that!

Rich Multimedia Content and Engagement

Email and Facebook marketing campaigns enable you to showcase your products or services through rich multimedia content, captivating visuals, and engaging storytelling. This approach captures your target audience's attention and fosters deeper connections and brand loyalty. Make sure you take photos. 

Targeted Reach and Personalization

Both email and Facebook marketing platforms offer robust segmentation and targeting capabilities. Most people find that a standard message to all works, but it's nice sometimes if you have a good list to tailor your specific audience segments. This personalisation level enhances your communications' relevance and strengthens customer relationships.

ROI (Return On Investment)

This is tricky. So many factors come into it. However, we can discuss general differences between SMS, email, and Facebook marketing regarding how quickly you might see results.

• SMS Marketing: SMS boasts high open rates, meaning you'll likely see a faster response to your promotions. Did that afternoon text about discounted sandwiches go straight out of your inventory? The ROI for that campaign is pretty clear!

• Email & Facebook Marketing: Email and Facebook marketing rarely provide immediate sales figures; unlike SMS, they can be incredibly effective in building brand loyalty and driving long-term customer engagement. The ROI might not be as instantly measurable, but loyal customers who return for repeat purchases are a valuable asset.

Pro Tip: Use Unique Discount Codes!

Here's a powerful strategy to track the effectiveness of each marketing channel: assign a unique offer for each campaign. This allows you to see what is working. 

Conclusion

Today, in retail, you must leverage every available channel to captivate your target audience effectively. 

This is the sort of report managers in major retail shops look at weekly. Now, understanding foot traffic is excellent for retailers. Knowing how many people enter your shop can give you a lot of information. This is commonly called your footfall. Let's dive into it and see how it can benefit your business.

Why People Counting Matters

People counting technology provides valuable insights that can help retailers. The primary use is to determine the correlation between foot traffic and sales. Let's explore four results.

High Foot Traffic, Low Sales

• Analysis: Many people are entering your store, but sales are not happening for this traffic.

• Possible reasons:

  • Your stock is not what the people drawn to your shop are looking

  • Often, this is caused by not having enough staff.

  • Unengaging store layout or customer experience.

• Actionable insights: Review product placement, marketing strategies, and store layout to identify areas for improvement.

Low Foot Traffic, High Sales

• Analysis: Fewer people enter your store, but sales are higher than expected.

• Possible reasons:

  • Targeted marketing campaigns are attracting the right people.

  • Effective product placement and inventory management.

  • Engaging store layout and customer experience.

• Actionable insights: Continue refining marketing strategies and focusing on customer experience and product placement. Consider how to get more of these people.

High Foot Traffic, High Sales

• Analysis: Many people are entering your store, and sales are strong.

• Possible reasons:

  • Effective marketing campaigns and promotions.

  • Engaging store layout and customer experience.

  • Good product placement and inventory management.

• Actionable insights: Well, clearly, you are doing the right thing.

Low Foot Traffic, Low Sales

• Analysis: Fewer people enter your store, and sales are lower than expected.

• Possible reasons:

  • It would be best if you considered how to get more people into the shop

  • Poor product placement or inventory management.

  • Unengaging store layout or customer experience.

• Actionable insights: Review marketing strategies, product placement, and store layout to identify areas for improvement and develop targeted campaigns to attract more customers.

It also gives other information. 

Understand Foot Traffic Patterns:

• Analyse the number of people entering your store to identify peak hours, busy periods, and slow days.

Optimise Staffing and Inventory:

• Use foot traffic data to adjust staffing levels, manage inventory, and restock shelves during peak periods.

Account for External Factors:

• Understand how weather, sporting events, and other external factors impact foot traffic.

Types of People Counting Technologies

There are two main types of technology used by my clients

Beam Sensors

Beam sensors are the earliest, cheapest, and simplest people traffic counters. They consist of an infrared emitter and detector positioned on either side of a doorway. When a person walks in or out, the beam breaks, and the counter registers a count.

Pros:

• Simple and Cost-Effective: Break beam sensors are cheap and easy to install.

Cons:

• Unidirectional: They can't distinguish between people entering and exiting.
• Barrier Perception: The beam can act as a barrier, making some customers reluctant to enter.
• Accuracy Issues: They may count two people walking together as one, making the results questionable in a full shop. Also, they tend to miscount families and people with prams.

WiFi Counters

These use the WiFi signals from smartphones to detect and count people. This technology is said to be more accurate as almost everyone carries a smartphone.

Pros:

• Accurate and Advanced: Most people have smartphones, providing reliable counts.
• Hidden: No one knows that you have them. This has proven to be a huge plus.
• Advanced Capabilities: Potential to identify repeat visitors or known shoplifters and exclude staff from counts. For privacy reasons, few do this, though.

Cons:

• Higher Cost: WiFi counters are more expensive.
• Bluetooth Dependency: Individuals may not be counted if Bluetooth is turned off. This is a big problem. 
• Overcounting: Many people today have smartwatches. These can be counted twice.

Overall, I think Beam is better, but many would disagree. 

Integration: Manual vs. Automated

When it comes to integrating people counting technology with your POS system, there are two main approaches:

Manual Integration: Most small retailers opt for manual integration. Each morning, they check the people counter, record the number, reset it, and then enter the data into a spreadsheet. While this method is cost-effective, it has a significant downside: It's messy, time-consuming, and does not give hourly traffic data.

Automated Integration: Although more expensive, investing in an integrated solution provides continuous, real-time data. This allows for detailed foot traffic analysis by the hour, offering deeper insights for better decision-making. I think the extra cost is worth it. 

Conclusion

People counting technology is a powerful tool for small retailers. It provides invaluable data to enhance staffing, inventory management, marketing strategies, and overall store performance. 

If you consider this technology to unlock the power of people counting technology for your business, worth investigating, please get in touch with us to learn how people like yourself use it to help their retail businesses. 

Managing maintenance and repairs in your store - whether a jewellery store, bike shop, or lawn mower repair - can be challenging as a retailer. However, using the correct methods and tools can simplify your maintenance management process and has resulted in increased productivity, lower costs and increased customer satisfaction with a larger In this article; we’ll explore the benefits of digitizing your work order process flow, implementing intelligent ticketing systems, automating communications and integrating accounts seamlessly strenuous Program flow: the key to success A well-defined job scheduling system is essential to reduce unscheduled downtime, improve equipment reliability, and optimise maintenance costs.

By implementing a structured schedule, you can:

• Prioritize tasks: Ensure critical repairs are addressed promptly

• Schedule preventive maintenance: Reduce unexpected failures and extend equipment lifespan

• Document repairs: Keep a record of completed work for future reference. I have had clients who have picked up a turnover just because everything done is documented. What was happening was that people were doing tasks and forgetting to charge for them.

• Continuously improve: Regularly review and refine your process

From Chaos to Calm: Streamline Repairs with POS Software

Use our intelligent ticketing system to guide repair jobs from submission to completion, enabling you to:

• Assign tasks: Clearly define responsibilities among team members

• Track progress: Monitor the status of each repair job

No matter your repair specialty, our POS software can simplify your workflow. Here are some examples:

• Jewelry Stores: Track jewellery repairs.
• Bike Shops: Create service orders for tune-ups and component upgrades and track the parts used for each repair.

• Enhance collaboration: Ensure seamless communication among team members

Automated Communications: Keeping Customers Informed

Automatic email and SMS notifications keep customers updated on:

• Parts availability: Inform customers when necessary components are available

• Job completion: Notify customers when repairs are finished

• Work progress: Provide regular updates on repair status

Our POS system goes beyond point-of-sale. It integrates into maintenance management and provides a unified workflow for smooth operations.

Imagine this: A customer brings in a broken watch. You create maintenance orders in the POS and automatically capture customer and product information. The system then communicates with your inventory to view parts and quote your price immediately. This eliminates data entry errors and saves you and your employees valuable time. Additionally, once repairs are complete, the POS can generate invoices based on work done, making it easier for your customers to check out and, most importantly, nothing is missed from the invoice.

POS system for repairs

Reduce administrative costs through automated work order creation, invoicing, and reporting.

• Invoicing: Generate invoices based on completed work

• Reduce paperwork errors:  These can lead to costly rework and customer dissatisfaction.

• Efficient billing: Reduce administrative tasks and errors

Spare Parts Inventory Management: Ensuring Readiness

Maintain an organized spare parts storage to:

• Ensure necessary components are readily available

• Reduce delays: Minimize wait times for essential parts

Maintenance Key Performance Indicators (KPIs): Tracking Success

Monitor metrics such as:

• Equipment uptime: Measure the percentage of time equipment is operational

• Mean time to repair (MTTR): Track the average time to complete repairs

• Overall repair cycle time: Monitor the time from submission to completion

Regularly review KPIs to identify areas for process improvement.

Customer Satisfaction: The Ultimate Goal

Efficient repair tracking directly impacts customer satisfaction. Transparent communication and timely repairs lead to happier clients, increasing loyalty and repeat business.

Embracing Technology and Efficiency

Implementing these practices can significantly enhance your repair shop's performance, leading to growth and customer loyalty. If you do any repairs in your business, why not embrace technology and implement more efficient processes? After all, this is crucial for business success.

Conclusion

Streamlining these processes will reduce downtime, improve reliability, and optimise maintenance costs, ultimately increasing customer satisfaction and loyalty. Receive technology and efficiency to take your maintenance business to the next level.

Contact us now to check it out!