People today seem to be buying in recent years fewer rolls of festive wrapping paper and more gift bags instead. Wrapping paper was once considered a holiday necessity. No Christmas gift was complete without glossy paper covered in snowflakes or candy canes. But customer preferences are changing. Here are some reasons why:

Wrapping takes some skill

Let's face it - wrapping gifts with paper is time-consuming. Carefully folding edges, taping down seams and ensuring graphics align takes patience. This skill is less known. People do perceive badly bagged presents as more carelessly given. Gift bags do not have this problem.

Retailers make more from bags.

Retailers would prefer to sell more bags as it's a better sale and it's less trouble. Besides, wrapping is an art and takes time. A bag is a straight and easy sale. 

Faster Paced Lifestyles

Today's customers lead increasingly busy lives and prefer the convenience of gift bags. Just tuck the present inside and go—no tedious wrapping required.

Less Excitement Over Designs

Retailers in the past invested heavily in new holiday wrapping paper designs each year, but looking at these patterns, they seem to be less appealing. The standard prints like snowflakes, trees and ornaments feel boring and expected. Gift bags today have more customisation and self-expression.

The Gift Bag Boom

To remain relevant, retailers need to respond to changing consumer behaviour. 

Wider Selections

Gift bags now come in endless colours, patterns, and materials. Stock a wide assortment of bag sizes and styles. Keep selections fresh each year by introducing new variations and customization options.

Prominent Merchandising

Make gift bags a focal point of holiday displays and signage. Spotlight them as the modern way to wrap presents. Place them prominently at checkout areas to spur impulse purchases.

Bundled Packages

Create ready-made gift bag packages with tissue paper, ribbon, gift tags and other coordinating accessories. These bundles make putting together polished gifts fast and easy.

Eco-Friendly and Reusable

Now, many want to be green, and there is growing awareness about the environmental impact of single-use wrapping paper. Unlike gift wrap, you can have reusable gift bags are considered a “greener” choice by eco-conscious consumers.

Making Gift Bags Profitable

For retailers, one problem is that bags take up more shelf space, and so need to be replenished more often. Here are some tips to maximise profits:

• Stock smaller assortments of higher quality bags that command bigger price points. Check margins.

• Suggest add-on items like coordinating ribbons, candles or decorations with purchase.

• Consider bundling free or discounted bags for sales over a certain amount. This incentivises bag purchases.

Adapting to Gift Bag Demand

Wrapping paper was once a hallmark of holiday shopping at physical retailers. However, with customers choosing reusable gift bags for convenience and environmental reasons, its prominence is fading.

Halloween is just around the corner, so unfortunately, much of this information that they sent me today has come too late for most of you to action. Sorry but trust me, it's not my fault. Still, it might help some of you to position your Halloween costumes if you sell them.

It will also give you some ideas of what the public is thinking. After analyzing 2023 predictions from major costume companies, here is a breakdown of the 27 hottest Halloween costume ideas for kids, adults, groups, couples, and pets.

Barbie Movie Costumes, and Video Games Dominate

Taking the #1 spot this year is Barbie! The iconic Mattel doll turned movie star is set to be the most popular costume for Halloween 2023. No doubt this is largely due to the hugely successful Barbie movie that was just released.

Interestingly besides Barbie, many of the other top costumes this year draw came from recent popular movies like Spider-Man: Across the Spider-Verse, The Super Mario Bros. Movie, and others. Others from video games such as Princess Peach and Mortal Kombat ninjas. This confirms what people have told me pop culture has a massive influence on Halloween costume ideas.

The trouble with this sort of stuff is that yes, Barbie is good this year, but if you do not sell it soon, you will be stuck with items difficult to sell. 

Old Faithful Costume Ideas

While pop culture always adds fresh new costume ideas into the mix, you can’t go wrong with the classics. Occupying spots #4 through #11 in the rankings are costumes that are popular every Halloween:

• #4 Witch
• #5 Fairy
• #7 Dinosaur
• #8 Cowboy
• #10 Bunny
• #11 Rabbit

You cannot go wrong with these guys.

Right now, Australia's specialised chocolate industry is booming.

The Australian chocolate Market is anticipated to project robust growth during the forecast period on account of rising health awareness, rising disposable income, and rising demand for chocolates among children. .. Moreover, among the key factors influencing the growth of the chocolate market in Australia are consumer healthy choices and the rising demand for premium chocolates.

Here is a list of some advantages of considering these specialist chocolates in your shop, the big one, little discussed is positioning.

-Halloween is coming up, and so is Christmas, and what one product do they have in common: massive chocolate sales? Just about any marketing season or occasion has massive increases in chocolate sales in retail. People buy chocolates for birthdays, engagements, anniversaries, etc. Almost all holiday season provides significant opportunities for chocolate sales in retail

- Chocolate is an easy, profitable product to add for holidays with solid margins

- The product lines are relatively easy to handle. Your POS System can handle them now. For most suppliers, our systems can import directly the chocolate lines into your POS Software.

- Specialty/artisanal chocolates help small shops stand out from supermarkets as a retailer can pick a brand that the large retailers in their area do not handle. Carrying unique holiday chocolate varieties from local/niche makers delights and attracts customers

- Plenty of impulse purchases from customers not planning to buy chocolate

Positioning

Effective merchandising is vital to maximising sales and profits for retailers looking to add high-quality, artisanal chocolates to their product range. Unlike mass-market chocolate bars in every supermarket, high-specialty chocolates rely on careful positioning and promotion to capture their target audience. Here are some best practices for small shops to showcase unique chocolate offerings.

Place Specialty Chocolates in Secondary Locations

The most apparent, central areas of a store with the most foot traffic are best reserved for faster turnover essentials like snacks, beverages and impulse purchases. Specialty chocolates don’t necessarily need to occupy prime real estate since their buyers intentionally seek them out. They are tucking chocolate displays into a secondary nook that rewards those willing to explore. Discerning chocolate shoppers appreciate browsing interesting selections in a tucked-away section of the shop rather than crowded front shelves. They can use relatively dead areas in your shop.

Visual Appeal with Packaging

Part of chocolate’s appeal is visual. These chocolates come in beautiful packaging, glossy wrappers and box designs. You can arrange packaged chocolates of varying sizes and shapes for an abundance effect. 

Conclusion

With specialty chocolate, small details in presentation and positioning make a significant difference in sales outcomes. When introducing high-quality chocolate lines, consider optimal placement and creative promotion. The effort pays off in delighted customers and profitable returns.

Skeletons emerge from closets, vampires rise from coffins, and ghosts roam the streets as Halloween creeps up in Australia as this largely American tradition, which has turned into a worldwide phenomenon, continues to gain popularity down under. We see that participation has risen steadily each year as Halloween gains mainstream acceptance. What was once seen as an American novelty has been embraced by Australians, young and old.

For Halloween, retailers need to be exact in their ordering. This type of stock can be tough to get rid of after Halloween. This is one of those holidays that interest the public in brief.

New research shows Australians are more eager than ever to participate in Halloween festivities this year. Total spending is forecast to reach new heights.

Millions of Aussies Catching Halloween Spirit

A spook-tacular 5.3 million Australians now celebrate Halloween, according to data from the Australian Retailers Association and Roy Morgan here. According to it, an extra 300,000 people compared to the 5 million that dressed up, carved pumpkins and went trick-or-treating last year. I have little reason to doubt it, as it was pretty accurate the previous year.

Halloween Spending to Hit $490 Million

Australia's total spending on Halloween is predicted to reach $490 million in 2023.

That's a bone-chilling increase of 8.1% compared to last year.

So where is all this money going? Aussies are splurging on:

• Costumes - 49% of participants purchase a new costume, spending an average of $31 each
• Candy - 39% stock up on lollies and chocolates to hand out on Halloween night, driving over $100 million in supermarket confectionary sales
• Decorations - over one third (36%) decorate their homes with fake cobwebs, skeletons and jack-o-lanterns
• Parties & Events - bars, restaurants, cinemas and more cash in on Halloween's popularity by hosting themed events

Aussie Adults Lead Halloween Growth

While children in creepy costumes may come to mind when you think of Halloween, Australian adults are actually driving this trend.

Australians aged 35-49 years old are the most avid Halloween participants:

• 40% of this age group plan to celebrate Halloween
• That's up 3% from last year.
• It equates to 1 million 35-49-year-old Aussies enjoying Halloween this year - a 190,000 increase.

Parents are helping boost Halloween's popularity by allowing and encouraging their children to join in the celebrations. Mothers and fathers enter the spirit by dressing up and decorating homes.

Beyond parents, young adults without children are embracing Halloween, too. It's becoming a popular date night and a chance to show off creative costumes.

If you want to know the sort of stuff the public is interested in now for Halloween, you should look at costumes, witches' hats, Halloween makeup, masks like Frankenstein and ghosts are popular nowadays, and as always, Harry Potter stuff. One of the pluses of Harry Potter stuff is that it sells well after Halloween.

If you want a quick and instant way of finding out what stock sold in your shop in previous years on Halloween.

Go to Register reports.

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

In the form, put in the following dates: 25/10/22 to 31/10/22. A report will come out with what sold over that week. 

As time is running out, could you do it now?

Research from Roy Morgan says that Australians are set to splash out $860 million on Father’s Day gifts this year. This is a slight drop of 1.3% compared to last year. This figure is so tiny I doubt retailers will notice it. It's a massive market, with 35% of Australians planning to buy a gift for Father’s Day and spending an average of $112 per person. This study is in line with another study by Finder.

Looking at the items on offer at the GiftFair in Melbourne, I noticed a few things that would be good for retailers to handle for Father's Day:

• Alcohol cups like Beer Steins
• A set of Whisky Metal Bullet Chillers. You keep the chillers in the fridge to freeze, and then when you drink, you pour the whiskey, cooling it without diluting it.
• A BBQ Branding Iron to personalize steaks and burgers with Dad's initial.

Tips for Retailers This Father's Day

If you want some ideas of what worked for you last year.

Go to Register Reports.

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

In the form, put in the week before September 4, 2022, and check it out. That will give you what worked last year.

These items likely will work for you again this year as studies show little difference in people's buying habits year to year.

Father's Day is an excellent shopping day in retail. Although it is a limited-time shopping festival with a short season, it can considerably impact your shop if done correctly.

Overall, women in Australia spend a whopping $15 billion each year on grooming products, while men spend a still-impressive $7 billion.

In other words men grooming products are a third of the grooming market, hold that thought.

While walking around as a magpie at the recent Melbourne Giftware show, I started talking to a sales manager exhibiting on a stand promoting male grooming products. We began to talk about this market which he told me was booming. Being interested as I am always looking for something good for my clients, he told me he would send me some information which he did. 

Many of you will find his notes and comments interesting for your shop.

Firstly I cannot verify his figures. I tried, but I could not find information on the net, and paywalls protected some information quoted. So although I can't verify the market data he provided, it comes up well with the growth trends I'm seeing. 

Here is a summary of what I got.

Australia's men's grooming market is growing steadily. With changing attitudes, Australian men are investing more time and money into looking their best.

Key Men's Grooming Categories

There are several main categories within men's grooming products. Here is a breakdown of the major segments and their current market value:

Men's Shaving

This includes shaving creams, gels, foams, soaps, lotions, balms and aftershaves.

• Market value in 2023: $AUD 257.2 million
• Expected CAGR from 2023-2028: 3.8%

Growth drivers:

• Increasing demand for premium and natural shaving products

Men's Post-Shave

This covers products used after shaving, like lotions, balms, gels, sprays and oils.

• Market value in 2023: $AUD 58 million
• Expected CAGR from 2023-2028: 4.2%

Growth drivers:

• Increased awareness of post-shave product benefits
• Availability of products for different skin types

Men's Pre-Shave

Pre-shave products include oils, scrubs, washes and exfoliators used before shaving.

• Market value in 2023: $AUD 19.5 million
• Expected CAGR from 2023-2028: 4.5%

Growth drivers:

• Demand for products that prepare skin for a smooth, irritation-free shave
• Reducing ingrown hairs

Men's Razors and Blades

Covers disposable razors, cartridge razors, safety razors, straight razors, electric shavers, trimmers, clippers and replacement blades.

• Market value in 2023: $AUD 179.6 million
• Expected CAGR from 2023-2028: 3.6%

Growth drivers:

• Preference for high-quality, precision razors and shavers

A note here as I get older, I find that electric shavers are not giving me a good shave and I need to use a razor, as Australians are aging, this would be true of many more Australian now. 

Men's Toiletries

There are a range of products in this category for example deodorants, antiperspirants, body washes, shampoos, conditioners, styling products, oral care and more.

• The market value in 2023: $AUD 1.6 billion
• Expected CAGR from 2023-2028: 4.1%

Growth drivers:

• Demand for natural and organic toiletries
• Increasing awareness of oral hygiene

Men's Bath and Shower

Covers body washes, soaps, scrubs, gels, foams, oils, bath salts and bath bombs.

• Market value in 2023: $AUD 238.2 million
• Expected CAGR from 2023-2028: 4.3%

Growth drivers:

• Demand for premium, natural bath products
• Products to suit different skin types and moods

Premium vs Mass Products

Within categories like bath products, deodorants and hair care, there is a split between premium and mass-market products.

Premium products are higher priced due to superior quality, performance, innovation or exclusivity. Consumers pay more for a luxurious, sophisticated experience.

Mass-market products are more affordable and accessible, catering to many consumers.

Here's the market value in 2023 for premium vs mass sub-categories:

Premium products are expected to achieve higher growth rates than mass products.

Notable Categories to Watch

Here are a few men's grooming categories to keep an eye on over the next five years:

Men's Deodorants

• Market value in 2023: $AUD 333.9 million
• Expected CAGR from 2023-2028: 3.9%

Men's Hair Care

• Market value in 2023: $AUD 356.7 million
• Expected CAGR from 2023-2028: 4.5%

Men's Skin Care

• Market value in 2023: $AUD 669.1 million

Conclusion

The men's grooming market is booming in Australia in segments like shaving, skincare, hair care and bath products. I highly recommend thinking about moving into this growth category. Focus on products that deliver functional benefits like anti-aging and odour protection. You could profit from the surging demand with the right product mix and targeted marketing.

90th-anniversary magazine issue

This September marks a significant milestone for one of Australia's most iconic magazines. The Australian Women's Weekly is turning 90! As trusted sellers of this historic Aussie publication for nearly a century. 

As many newsagents and magazine sellers are my clients, the sales and reception of these anniversary issues are of great interest. Celebrating this heritage and leveraging this magazine's enduring popularity is a unique opportunity. I hope this helps them fully capitalise on this milestone moment for one of Australia's most celebrated publications.

Iconic Australian women's magazine Provides a Special Opportunity.

With The Australian Women's Weekly's 90th-anniversary commemorative issues hitting stands soon, newsagents can leverage their customers' interest to glimpse into nine decades of groundbreaking Australian women's stories.

These collectible editions are a chance to:

• Highlight The Woman's Weekly's impressive reputation
• Create captivating magazine displays and promotions to attract buyer attention
• Why not leverage Maggie Tabberer's lasting star power? This legendary model-turned-TV star graces the retro-inspired September issue cover

Emphasise these issues' exclusive interviews and stories chronicling iconic Australian women throughout history.

Australian Women's Weekly special issue series

Most importantly, it highlights The Weekly's significance as a cultural touchstone which has been resonating with Aussie women since 1933 as its emphasis on thoughtful storytelling has built trust and authority for generations. Newsagents can capitalize on this by positioning the 90th-anniversary issues as a celebration of both:

• The Weekly's heritage
• Its ongoing importance as a voice for Australian women

For over 90 years, newsagencies have brought the pages of The Australian Women's Weekly to communities nationwide. This issue will be a piece of history that many customers want to get and even collect. I am sure many will come to the newsagency to get it.

A Milestone for Newsagents and Their Customers

Don't miss out on celebrating this cultural icon's significant birthday! With compelling content and commemorative appeal, The Australian Women's Weekly's 90th-anniversary issues offer newsagents an excellent opportunity to engage buyers.

This recent cold weather sweeping across parts of Australia is a perfect example of how the weather can impact retail sales. As someone who has analysed sales data for many retail clients, I've seen firsthand how changes in temperature and rain can affect product sales. It is not rocket science. Different weather conditions change what people buy.

Matching Products to the Weather

Savvy retailers can use weather fluctuations to boost sales by matching products to the weather.

Want a list? Our software can tell you what sold well on a hot, cold, wet, or whatever day in your shop. 

Go to Register Reports.

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

Put in a date of a hot day and see what you get. Do a few. Now put in a cold day and so on.

Or you can use basic logic when a heat wave is predicted, you can:

> Create a prominent display of cold drinks, popsicles, summer clothes, hats, sunglasses, etc.

> Make sure drink refrigerators are fully stocked.

Likewise, when cold temperatures are coming, they can put in the front:

> Scarves

> Gloves

> Hot drinks

When it is raining

> Umbrellas

> Raincoats and ponchos

A Week-by-Week Strategy

Retailers can easily implement a weather-based sales strategy using these steps:

Categorize products based on weather conditions (hot, cold, rainy, etc.) using past sales data and experience. You can give in categories in your POS Software. 

Hot products might be 

> Water and beverages

> Sunscreen and skincare

> Frozen treats 

> Sun hats

Check the 7-day forecast each week in your area and note any abnormal hot, cold, or rainy days coming up.

Prepare for the forecast by displaying weather-appropriate products prominently. Stock up on hot or cold weather inventory as needed.

Move the appropriate products to the front as the weather conditions change.

Matching your product selection and inventory to upcoming weather gives you sales windows where you can boost conversions. With some preparation, weather fluctuations don't have to hurt your sales.

Let me know if you have any other questions! I'm always happy to help retailers strategise using weather and sales data.

You might wonder if running a stocktake sale now is worth it. After all, you’ve just finished counting your stock and are busy preparing the documentation for the financial year. But before you put away your inventory sheets and relax, consider the benefits of making a stocktake sale now.

A stocktake sale is a promotional sale commonly used to clear out excess or outdated inventory now by retailers.

Here are some reasons why you should make a stocktake sale now:

>Advertisers are getting pushing stocktake sales. People are primed to buy old items cheaply. Customers now are more likely to shop for bargains and deals. You can use this opportunity to capture their attention and interest with your stocktake sale.

>You have counted your stock. You would certainly have found stock items that should be cleared out. A stocktake sale is a great way to get rid of such products.

> You can make room for new inventory.

>A stocktake sale increases your sales, cash flow and improves your inventory management. 

Tips

>A good stocktake sale should be short and limited to create a sense of urgency among customers. Limiting the duration and availability of your stocktake sale can make it more appealing and exclusive to customers. Your regular customers will be suspicious if they go on too long.

>Promotion is cheap and easy to do. All you need is a sign on the window and on a stand with the goods in your shop. You don’t need to spend much money or time promoting your stocktake sale. Use simple and effective methods. If you have a social media account for your business you can use it free to spread the word.

Conclusion

Making a stocktake sale is great to clear old stock, boost sales, and promote your business.

World Chocolate Day is celebrated in Australia on the 7th July.  It’s a great opportunity for you to celebrate this delicious occasion in your shop to boost your sales and attract more customers. Over the years it has proven to be a successful event in the shop.

You will probably find that your chocolate supplier can help you with this. Haig Chocolates, for example, has this promotion going for its chocolates. One point is that the chocolate products for this festival are marketable after the festival.

It is not hard to get involved, Create a unique display for chocolate, it does not need to be that big only noticeable. Decorate your shop with some chocolate-themed signs. Create bundles or packages that include different types of chocolate. Maybe include as well some complementary products, such as wine, cheese or nuts.

Whatever you do on World Chocolate Day, make sure you too enjoy it with chocolate, it is always great to get into the festive spirit.

As a local store owner, you may feel that investing time into your Google search ranking is useless as it means competing with larger retailers like Coles and Amazon. There is some truth in this for some cases, but this isn't the case for primarily local businesses. This information appears when they search for your business or a related topic. Here David can meet Goliath on equal terms. It does not matter how big you are; you get the same size. 

So how can retailers use this to get more customers and grow their business in our competitive market if they are local? 

You can do this in just 20 minutes based on our experience and with zero cost.

Background

One of the significant changes since COVID is that people plan more of their shopping and try to save time more. To save time and distance, they will research on Google and, to some extent, Bing for what they want; for example,  on Google, "Where is the closest newsagency to us?" and "Is this florist open now?"

Now if Google does not know, you will not appear. There is a missed sale.

The best way to get Google to know you are to have a Google Business Profile (GBP). 

The Google Business Profile is a free tool that creates a business listing and forwards your business details to Google. It helps you get into Google Search and Maps and connect with your customers in various ways.

What is Google Business Profile?

Google Business Profile is an online page with your business information, such as your name, address, phone number, website, hours, reviews, photos, posts, and more.

It helps you show up in Google Maps searches. 

Why are these map searches vital in retail today?

Today, many people use Google Maps to find nearby businesses, get directions and check opening hours.

Here is an interesting survey 

You can expect this trend to grow.

What are the benefits of a Google Business Profile?

There are several benefits with your Google Business Profile, for example:

- You can communicate with your customers online through reviews, posts, messages, and bookings. Use this to engage with your customers, share updates and promotions, answer queries, and encourage repeat purchases. 
- It provides free advertising and traffic to your shop. You increase your chances of being found by potential customers searching for your products or services. 
- The analytics feature on Google Business Profile will let you see what people looking for your business are looking for now. 
- It helps you stand out from your competitors by showing your unique selling points. Highlight what makes your business different from others in your niche. Showcase your value proposition or brand personality.
- It does more and helps you build trust and credibility for your business through social proof and ratings, as customers can leave reviews, ratings, photos, and questions on your Google Business Profile. Which shop do you go to with no rating or five stars?

How to Create Your Google Business Profile

Creating your Google Business Profile is easy and free. Here are the steps:

1. You need a Google email account. If your business does not have one, make one.

2. Click here and sign in with your Google account. Alternatively, search your business name on Google and click "Own this business" or "Claim this business."

3. Choose a method to verify your ownership to ensure no one else modifies your profile without authorisation.

4. Please fill out your profile with details about your company, including its name, location, contact information, categories, hours, offerings, etc. Do not miss questions if possible. There is a reason for each question.

5. Put up some quality pictures. 

6. Search for your business on Google to check everything looks good. If anything needs improvement, update your profile accordingly.

Do not stop there.

Once you have your Google Business Profile working, look at Bing Places for Business. You can seed the information in  Google Business Profile for Bing with the required information.

Also, ask your customers what they use, as some people use, for example, Yelp, Tripadvisor, Glassdoor, Trustpilot, G2, etc. Generally, each business sphere has one or two review/rating sites, highly trusted and popular. 

Conclusion

By using your free Google Business Profile, retailers can increase their visibility and attract more customers. This profile lets you appear on Google, engage with your customers, and get feedback. It can help you build trust and credibility with potential customers and increase sales.

Unfortunately, if you need help creating your Google Business Profile, I think you will find Google support terrible, so call me if you are a client. 

Email marketing is a great way to reach customers and grow sales probably today the most cost-effective advertising, so please look into it if you are not using it. But this is a big *but* it also has some legal obligations you must follow. 

See this article here. These problems are *NOT* uncommon, as several of our clients and business partners have gotten into trouble with these laws. One was particularly nasty.

Summary of the issue here

Commonwealth Bank (CBA) was fined $3.55 million by the Australian Communications and Media Authority (ACMA) for breaking email marketing laws. 

How did CBA violate the email marketing laws here?

CBA sent 61 million marketing emails to customers that required them to log in to unsubscribe. 

CBA sent 4 million marketing emails that did not have a working unsubscribe option. 

CBA sent 5,000 marketing emails to customers who had already unsubscribed.

Then ACMA said that CBA did not fix the issues after receiving their warnings.

How to Avoid Breaking Email Marketing Laws:

To avoid breaking these email marketing laws and risking fines and reputation damage, here are some ideas that can help:

Use an Email Marketing Platform

An email marketing platform can help you to comply with email marketing laws by providing features such as consent management, sender identification and unsubscribe links. I recommend to my clients, EmailOctopus. It works well with our software and has many email newsletters and campaign features.

Respect Your Customers and Stop Sending Emails if They Have Already Unsubscribed

If someone has unsubscribed from your email list, you should stop sending them emails. This is not only the law but also the right thing to do.

Use Common Sense and Follow the Authorities' Instructions

If the authorities issue a warning. Listen to them. Do not keep doing it until you rectify the issues that they do not like.

Conclusion

Email marketing is excellent for connecting with your customers. It does grow your sales, which is why it is used so much, but it is essential to be aware of email marketing laws and follow them. 

If you are our client and need help with email marketing, contact me or Garth. We are both experienced in doing it. We are happy to talk.

We can help you create compelling and compliant email campaigns that deliver results.

The end of the financial year is coming soon, and with it comes the chance to boost your sales and clear your stock. It is the most significant marketing season in the Australian Retail calendar after Christmas. For example, EOFY sales generate about eleven times more retail sales than Mother's Day.

Think about it. Business people with good profits are now being told by their accountants to spend to reduce their taxes. Many will buy now to take advantage of the government's Instant Asset Write-off before it is reduced. Government departments with spare money in their budgets have to spend now. Finally, people are being targeted to buy by the majors. This pumps up the market to buy now.

But how do you plan to get your share of the EOFY sale for your retail business? How do you attract more customers, increase sales, and maximise profits?

Here are some tips and steps to help you prepare and execute an effective EOFY sale for your retail business in 2023.

Know your target market and their needs.

The first step in planning and running an EOFY sale for your retail business is to know your target market and their needs. According to Roy Morgan, the biggest shoppers at the EOFY sales will be in the 50–64-year-old demographic. The average buyer is expected here to buy $1,616.

You need products that such people would buy

Check your sales report from last year about this time for what did sell well last year at its EOFY, for what did sell well last year at its EOFY. This will give you an idea of what products sell then in your shop and your price points.

Now look around your shop for products suitable for these shoppers.

Here are some more good ideas that your POS System can help you for ideas. 

Go to register reports > stock titled "Old Stock on hand by Date last received."

Put a date of six months ago. This will give you a stock listing based on when you received it. Unfortunately, this stock is not doing much and costs you to hold it. Now is the perfect time to sell it.

Now you have picked your stock, look at your companion reports to display complementary products that your customers may also like if they like these products. You can also use your POS software to create bundles or packages of products that provide more value or convenience to your customers than buying them separately.

Make displays

Collect business products together in a stand under a sign EOFY sale.  

Also, make a bargain bin in a prominent place with a sign or, better, under a red flashing light. Put here the old or excess stock at a heavily discounted price. It will help you clear your inventory, attract more customers, and increase your sales with these bargain shoppers.

Put a sign that you have an EOFY Sale.

Also, put a sign in your window that you are running an EOFY sale. It is a simple but effective way to create awareness, interest, desire, and action among your customers. A sign should:

- Be visible and eye-catching
- Be clear and concise
- Be consistent and coherent
- Be relevant and timely
- Be persuasive and compelling

If you have a Facebook page and/or website, put a notice there too.

Prepare for a sales review afterwards.

Make sure that you mark on your computer in some ways the items you put for sale for the EOFY, as I will show you in a later post how to measure and track these products using key performance indicators (KPIs) in your POS Software. You have a mighty POS System; let us use it.

Conclusion

The EOFY sale is a golden opportunity for retail businesses in Australia to increase their sales and grow their business. By following these steps, you can plan and run a successful EOFY sale for your retail business in 2023 and reap the rewards of your hard work. Happy selling! 🛒

POS Solutions EOFY Sale

I will be straight to the point with our EOFY offer from POS Solutions. We have excess stock that we would much prefer to sell than count if you need some technology. Why not stock up while we are keen to move it?

Lessons for us from "Pepsi, Where Is My Jet?" Netflix Documentary. Often it's easier to learn from examples of what happens when something goes wrong. So if you have ever wondered what happens when an advertisement goes wrong, try watching this Netflix documentary "Pepsi, Where Is My Jet?" The film tells a true story of the disastrous consequences of a marketing blunder that led to a significant legal battle. It's a great example of why we must properly run our marketing campaigns.

The Story 

The documentary starts around a Pepsi ad campaign launched in 1995. The campaign allowed customers to collect points from Pepsi products and redeem them for prizes such as T-shirts, sunglasses, or CDs. The campaign featured a series of humorous commercials that showed prizes such as a leather jacket worn by Cindy Crawford, a life-sized replica of the Statue of Liberty and a military Harrier jet fighter. 

To get the jet, you needed to collect seven million points. The commercial offer of a jet was meant to be a joke. Unfortunately, Pepsi lacked a disclaimer indicating that the jet was a joke. Now there is always someone looking for a loophole.

After doing some figures, a young student saw the commercial and initially determined that with $5 million, he could win the jet worth about 30 million dollars. After discussing it with a few people, he reviewed his calculations and found that he could do it with much less. He only needed $700,000 to get the jet. He convinced an investor to help him raise the money and sent Pepsi a check for $700,000 along with 15 Pepsi points (the minimum required) and an order form for the jet.

Pepsi refused to honour his request. They argued that the commercial was not a serious offer in a dismissive letter. This was stupid and aggravated the situation. Then it escalated after Pepsi then made a low offer that was rejected. Soon, the student sued Pepsi for breach of contract, fraud, deceptive and unfair trade practices, and misleading advertising. Soon the matter went to the public, where it went viral.

I will not say more about the plot not to spoil those who want to watch. Sufficient to say the ending shocked me.

The Importance of Marketing Compliance

Someone took Pepsi at its word for what Pepsi thought was a joke. If someone can make an argument, someone may do so. So clearly, there were severe issues with Pepsi's marketing, which shows just how important it is to meet marketing compliance. You want to ensure your ads aren't making false promises or tricking people, even as here by accident. Plus, no matter who wins or loses, you do not want customers to feel deceived and let down by your actions.

My view

Watching 'Pepsi, Where's My Jet?' was fun and exciting. Both sides made mistakes during the situation. The film is worth seeing because it provides valuable insights into the issue and is entertaining. 

Introduction

Now, approximately two-thirds of our clients engage in some form of Loyalty marketing. 

Current loyalty marketing theory

I attended a webinar on current Loyalty marketing.
 
What became clear is that now due to the impact of COVID on consumer behaviour, the traditional concept of loyalty marketing has changed from an individual towards building a sense of belonging in a community to a person. Today's marketers focus on creating communities where customers feel connected and engaged. The primary method used is gamification. 

If you want a summary of what they were talking about, I recommend the free Executive Summary of For Love or Money™ 2023, the 11th edition of the research study. I think is the best study on customer loyalty and loyalty programs in Australia. 

It is available here.

Update

Based on this, we are working on an update to our Loyalty Marketing Software! So we are creating new features and enhancements designed to provide even greater value to our valued clients.

A gamification option

Based on a thousand people, check out this table.

Reward customer purchases and encourage repeat business by incorporating gamification aspects by tracking customer progress through a leaderboard.

You will also get 

Enhanced User Experience

Our updated interface is now more straightforward and intuitive than ever, making it quicker and easier for users to navigate the system.

Expanded Marketing tools

With these additional tools, you can better tailor your VIP marketing campaigns to suit your requirements.

Detailed Reporting & Analytics

Get more profound insights into your campaigns' performance so that you can adjust them accordingly.

Conclusion

These updates will enable you to build stronger connections with your customers.

Executive Summary

Loyalty Marketing has shifted from individual to community focus. 
The suggested tool used for bonding is called gamification. 
 Our loyalty marketing software is also being improved. 

Introduction 

Click and Collect was seen as an oddity years ago, but we introduced it to our market space.  Our experience has shown us that the process is relatively simple. 

The Click and Collect Pickup process is straightforward to understand. Customers order through an online store or phone and then pick it up from the shop or while in their car in front of the shop. Even before the COVID-19 pandemic, demand for Click and Collect services had been a noticeable increase. This trend increased dramatically during the pandemic and shows no signs of slowing down. According to recent research conducted by Power Retail, nearly three-quarters (72%) of Australians have used Click & Collect in 2022. It has become a permanent shift in shopping behaviour.

Today many use it, including people who sell stationery to businesses. My wife uses it for collecting her dog food. It's a big heavy bag, so she orders the dog food online. Then on the way home from work, she collects it from the shop, and they put it in her car for her.

If you do not offer this service, here are some points to consider.

Customer Benefits of Click & Collect

- Reduce delivery expenses as customers save money on delivery costs by picking up their purchases in the store.

- Customers can get their items quicker. By picking up their items in the store, customers can get them faster. Unlike online shops, they do not have to wait for their items.

- Customers have more control over when they get their things.  What is popular now is to pick up the goods after work on the way home.

Benefits for retailers of Click & Collect

- More sales give the retailer access to a new demographic, and this demographic is often a good customer.

- Click & Collect can help retailers increase customer satisfaction.

- By eliminating the home delivery cost, Click & Collect cut costs.

- Risk, with delivery, there often are disputes over whether the goods were delivered.

How to set up a Click & Collect program

- Although you do not have to have an online site, it is a good idea for you to have this.

- Your POS Software is already set up to handle this, so all you must do is implement it. This we supply free.

- You need a location where you can do the fulfilment.  You need in the shop and a spot for the car pickup. 

- Tell your customers you offer such a service.

-Train your employees: Ensure your staff receives instructions on how to do Click & Collect orders.

Conclusion

Click & Collect offers retailers and customers many benefits, including flexibility and convenience. If you haven't yet implemented this feature into your business strategy, I highly recommend seriously considering it. Its growing popularity and potential impact on sales could be valuable.

Executive summary

-Click and collect is a service that enables shoppers to buy products online and then collect them from a physical store.

-It has gained traction recently thanks to its ease and versatility.

-Shoppers save cash on delivery fees.

-Their purchases arrive faster.

-Consumers can choose exactly when they receive their packages.

-Retailers improve client satisfaction while slashing expenses.

-Retailers cut potential disagreements with clients on package arrivals.

-An e-commerce site, although not necessary, is a big plus.

-You must inform your customers you offer this service.

-You need to get organised to do such a service.

Mother’s Day is almost here. Many people are ready to shower their mums with love and affection through gifts and memorable experiences. My clients from these pictures you can see have been busy preparing.

According to a recent report from Roy Morgan Research here:

> Australian are expected to spend $925 million on Mother’s Day this year – this is a massive increase compared to 2022 when we spent around $759 million.

>The average spending per gift is predicted to rise to $92 this year, up from $80 in 2022.

>Half Of Australians Plan To Buy Gifts For Their Mums

Interest In Mother’s Day is Growing Rapidly

Google Trends data shows that there has been a sharp increase in searches related to Mother’s Day in Australia over the past 30 Days.

This suggests that more and more people are becoming aware of the importance of celebrating mothers. They want to make sure they do something special for them on their special day.

Shop Owners Getting Ready For Mother’s Day

Finally, let’s look at what shop owners are doing to prepare for Mother’s Day.

Many businesses are already stocking up on popular items such as flowers, chocolates, gifts, etc. They want to ensure everyone can find something special for their mums in their shop.

Here are some more pictures of what some of our clients are offering:

Mother's Day is coming up quickly.

You need to ensure your shop has the right products to meet demand. Here is a method we have developed that works.

In 2023, 63% of Australians plan to buy their mum a gift for Mother's Day. On average, those buying gifts plan to spend about $82. That's equivalent to $1 billion nationwide.

"Mirror marketing" is a market technique that I suggest you do now to give you an instant idea of checking your inventory for Mother's Day for Mother's Day products. 

It is easy and quick to do with our POS System by following these steps it will only take a few minutes. So start now.

Go to Register Reports marked in green.

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

For dates select Custom

For period (a) put on 1 May 2022 to 15 May 2022, this was last year's Mother's Day.

Now for the period (B) put on 16 May to 16 June 2022

Now you will get a report with what products are basically Mother's Day goods for you to review

1) Check do you have stock. You need them now. If not, it is essential to reorder these products ASAP if you have low inventory levels. 

2) Find items that were popular during the previous Mother's Day. These should be moved into a notable position in the shop. These products do sell in your shop.

Conclusion

Mother's Day is a major shopping event in Australia, where many plan to spend significantly. As a retailer, you must have the right items in stock to satisfy that need. You can use the "mirror marketing" strategy described in this article to determine which products are in high demand in your shop. This helps ensure you have sufficient stock and can help you maximize profits and increase sales.

We have tried this method in our clients' shops, and it works well.

The Average Basket Size (ABS) calculation is the total number of items sold divided by the total number of transactions.  Increasing the number of items per basket is one of the simplest ways to improve your shop's turnover.

The typical Basket Size for an SMB Retail Business in Australia is about 2.54 items per basket; during COVID, it increased to about 2.7. I have not seen any figures since, but I suspect it has decreased recently.

If you do not yet have a POS System, use this to measure the Average Ticket Size (ATS) calculation. This is your total turnover divided by the total number of transactions.

One effective strategy to increase this figure is cross-selling. It is simple to do in retail, place complementary items beside high-demand products. You can quickly boost your revenue and profit margin by upselling or providing helpful cross-sells. This approach works well as it does not introduce anything new in the shop and requires no extra expenses.

Here's how to put it in place:

Firstly get your top sellers. This is not going to work with slow sellers.

Go to Register Reports.

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

Now put in the last three months and ask for the top twenty.

Now go to the sales register reports section here.

and select the stock companion report

Put in the last three months, start putting in your top-selling items, and ask for a complete listing. Now go through the list carefully. Take notes of those items that sell well with the top sellers. We call these companion items. Select the ones that look promising.

Now ensure they are positioned next to or within easy sight of the high-demand things. It's essential to make them visually appealing to potential customers.

You should pick up some sales as people taking these top-selling items will be attracted to these companion items.

It should take you less than 20 minutes to do it in your shop, so start now.

Everything to do with Royals in Australia catches the public eye, and this monarch's coronation is no exception. Many Australians are likely to follow the event as many are interested in everything related to the royal family. This will fuel the demand for royal memorabilia and cause a significant demand for such items.

Royal Memorabilia

Many things are likely to be in demand now; as a result. For example, commemorative coins, tea towels, plates, and keychains. Many Australians are likely to buy coronation merchandise. 

Emblem versus King Charles

People now generally favour generic royal items on these keepsakes over those highlighting King Charles III.

Make a special category for these goods

Make sure you mark your royal items with a particular category so you can track how they went in your shop.

Conclusion

Businesses can capitalise on this market and provide customers with a means of commemorating the occasion.

Executive summary

> Australians keep a close eye on the royal family, and many are very interested in King Charles III's coronation.

> This coronation will likely increase demand for many items dealing with royal memorabilia, like tea towels, keychains, commemorative coins, etc.

> Souvenirs that don't feature King Charles III are more popular with customers.

> Try marketing items that customers can keep long after the coronation

> Retail has a chance to profit from this market.

PS - Selling Regal Memorabilia

For people with royal memorabilia at home, now is an excellent opportunity to consider selling these things. Due to the increased interest in the coronation, there will be a significant market for these items on auction sites like eBay. You can get good prices now and free up space in your home if you take advantage of this demand.

Extra Note

I have watched King Charles' long wait for the role he wanted, which he finally got at 74, with empathy. Although I have always wished my best wishes to the Queen, who I liked I could sense his frustrations of having to wait so long to get the job.

The expression "a Prince Charles" portrays a person waiting so long for his inheritance.