Today is POS Solutions' official 41st birthday. I bought it 41 years ago, planning to revolutionise the point-of-sale industry from some guys who could not make it work on September 8, 1983. I remember it well—a young guy with big plans who thought he was so clever; I had a partner, and we both had the arrogance of youth. Our only business plan was that if others could sell Business Software, so could we and since we both knew Point of Sale, having grown up in our parent's shops and considering ourselves terrific programmers. We started in a small serviced office in St Kilda; when he dropped out, I moved the company to my bedroom. This became my office. 

Slowly, POS Solutions became a leading POS software provider for businesses across Australia and New Zealand. Soon, I took on another partner, Zac, a computer engineer. Our steady growth and commitment to excellence have made us.

Our Winning Formula

Our success over these 41 years can be attributed to two core principles:

1. Product Excellence: We have always invested in R&D and product development, maintaining a larger team of developers than our competitors. Our edge has always been our software.

2. Customer-Centric Approach: From day one, we've prioritised exceptional customer service. There is a saying, "You can get whatever you want if you give people what they want." We knew their success would be our success.

Happy birthday to us!

Forty-one years of POS Solutions.  From the failing software business, I brought but somehow we made it work somehow, so now we went from my bedroom to a boardroom. That's something! Thanks to everyone who's been part of this wild ride. Customers, staff, partners, readers here - you're all legends.

Here's to many more years of trying to stay ahead in this crazy tech world!

Why I recommend ditching the middleman in your shop for gifts. 

If you sell gifts, you know the struggle of standing out in a sea of sameness. People looking for gifts often want something unique. Purchasing goods straight from manufacturers can have revolutionary effects. Eliminating intermediaries boosts your profit margins since you avoid paying them and have easier access to uncommon and difficult-to-find products. This approach lets you get a distinctive product range that distinguishes your shop.

Navigating the Challenges of Direct Sourcing

Today, gifts are one category that lends itself to direct sourcing. With wonderful sites like eBay and Aliexpress, you have many products available. Choose products that capture the essence of your store and appeal to your target market.

Sure, there are challenges with direct sourcing, but with the appropriate tactics, you can easily conquer them. Consider that certain products, like newspapers or significant dog food brands, have strict distribution channels, and you must work within existing systems. These systems are not made primarily to help you make sales but for the suppliers to make sales. 

But for a vast range of giftware, the possibilities are endless! You do not need them.

Here are some tips to navigate direct sourcing successfully:

Research 

The Power of Observation

Keep an eye on what sells well in other shops, especially local competitors. This can give you valuable insights into customer preferences in your area. Are there any gaps in the market you can fill with unique giftware? Observing trends and staying ahead of the curve is critical!

Trade Shows

Trade exhibits are a treasure trove for learning about new products and getting to know possible suppliers in person. You can decide on the quality and fit of the product for your target market by actually seeing and handling it. While trade show prices may not be as competitive as direct sourcing, they're a fantastic way to find your next best-seller and initial orders.

Local products

In general, your customers would appreciate you supporting local businesses. If you have many tourists, sourcing locally made gifts can be a brilliant way to attract customers who value unique local products as souvenirs. Another great advantage is that it shortens your supply chain, and you have reduced shipping costs. One downside is if it's local, what is the best way to stop the locals in your area from going directly?

Your current gift suppliers

These can also be good sources of information. After all, they know what is selling now and often know the trends in their particular niche. 

Action plan

Importing Made Easy: Exploring Global Treasures

The internet has revolutionised product sourcing. Some Global e-commerce platforms like Alibaba and eBay connect you directly with manufacturers worldwide, often at competitive prices. Most welcome the opportunity to work directly with retailers and love larger orders. This is where your trusty POS system comes in handy! Use sales data to identify popular gift categories and target manufacturers specialising in those areas. Then, write to them and tell them your requirements. You will find you have just opened the door to products at better prices than you get now.

Here are some additional benefits of online sourcing:

• Wide Selection: Explore a seemingly endless variety of products from all corners of the globe.
• Convenience: Browse and order from the comfort of your shop.
• Consumer Protection: Many online platforms offer buyer protection guarantees so you can shop confidently. Popular payment methods like PayPal and credit cards also provide additional security.

Consider factors like shipping costs, customs regulations, and minimum order quantities when importing. It is vital to start small and build relationships with reliable suppliers.

Overall, I think you will find eBay easier to work with, but Aliexpress will have better prices. Both have heaps of products, here is just the catalogue listing of Aliexpress.

A Small Retailer's Success: The Phone Case Story

To illustrate the power of direct sourcing, let's look at the story of one enterprising retailer. He owned a newsagency and noticed a gap in the local market for phone cases while trying to buy a phone case for his son.

Researching the Market

Not one to miss an opportunity, he did his homework. He started investigating what was selling well in some shops in a major shopping centre. He decided that while phone accessories would be complicated, the cases would be doable.

He then researched the best-selling phone models in Australia and identified the top brands. He asked his customers what they were interested in phone cases.

Armed with this market intelligence, he was ready to explore direct sourcing channels.

Tapping into Global Markets

John turned to the global e-commerce platform eBay, where he connected with wholesalers. After carefully vetting potential suppliers, he placed his first order for a curated selection of phone cases.

The initial order was a calculated risk, but his instincts proved spot-on. The unique and eye-catching phone cases were an instant hit with his customers.

Building on Success

Encouraged by the positive response, they have continued to expand their phone case offerings.

By filling a market gap, he created a profitable revenue stream that set their business apart.

Curating a Winning Selection

Ultimately, the key to success in giftware is offering a curated selection that resonates with your target audience. Use your knowledge of your local market and customer preferences to choose high-quality, meaningful products that will make people say, "Wow!"

Use your computer data to analyse what is selling in your shop to find the most popular gift categories with your customers. This valuable information lets you focus your direct sourcing efforts on the products that sell. 

With a combination of direct sourcing strategies and the power of our POS system, you can unlock a world of unique gifts, boost your profits, and create a truly special shopping experience for your customers.

Take your gifts to the next level.

This is a simple, fresh idea to implement that works as we are always on the hunt for ways to excite our customers and drive sales. Well, have you considered celebrating your shop's birthday? This unique occasion presents a fantastic opportunity to transform your store into a festive extravaganza! Large brands do, so why not you?

• Stand Out from the Crowd: Unlike conventional holiday sales like Mother's Day, a shop birthday sale sets you apart. This unique approach gives you a novelty factor that grabs customer attention.
• Low Competition: No other shop will celebrate your shop's birthday sale, giving you a distinct advantage and avoiding competition from run-of-the-mill holiday sales. Mother's Day, for example, is an excellent marketing day, but everyone has Mother's Day sales. Only you have your shop birthday sale. 
• Easy to set up: You do not need any data, just a few signs and balloons.

First tip: Do not celebrate a day. Make it a month's celebration. - If it works for one day, why stop for one day?

Do this, and you'll create a buzz, foster customer loyalty, and boost your sales seriously.

The Novelty Factor

One of the biggest draws of a shop's birthday sale is its novelty. Unlike typical holiday promotions, a birthday bash offers the traditional sales event an exciting spin. It immediately captures attention and sets you apart from competitors. Customers recognise birthdays as legitimate reasons to celebrate, so they're far more receptive to the fantastic offers you'll be dishing out.

Flexibility Galore with a Full Month of Fun

Your sales options are limited to a single day or week. But stretch that to a month-long fiesta, and you have flexibility in spades! You can switch up the weekly promotions, keeping things fresh and enticing customers to return for more. One week, offer a special deal on slash prices on one product. Next, offer a gift with a purchase over a certain amount. The possibilities are endless when you've got an entire month to play with!

Remember, it starts with a big promotion and then ends with a grand finale bang to get the last big shot at it.

Make it a Party! Creative Ideas for Epic Celebrations

What's a birthday without balloons, banners and big festive fun? To make your sale sizzle:

There are many creative ways to ensure your shop's big celebration is one customers won't forget!

How Your POS Provides a Serious Assist

Want some ideas for what you can use as giveaways that cost you very little? Look at your slow and dead stock.

Both cost you money, take up cash flow, and take up space that should have stock that sells better.

To identify such products, go to register reports > stock titled "Old Stock on hand by Date last received."

I tend to do it in two parts. First, I check the overall problem in the shop to see the scale of the problem. Then, I go by the department in detail, as its people find it better to examine this way.

This gives you a stock listing based on when you received it. This stock rarely does you much good. As I stated, it costs you to keep it.

Now, once you have identified it, what will you do about it, why not use them as specials for your shop's birthday sale.

Time to Start Planning Your Store's Biggest Celebration!

With the power to boost sales, strengthen loyalty, and set your shop apart, a month-long birthday extravaganza is a no-brainer for entrepreneurial small retailers. By leveraging your POS, channelling creativity into festive promos, and giving customers what they want, you'll have all the ingredients for an epic bash! So start brainstorming killer deals, rally the troops, and prepare to make your store's big day one for the books.