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Shopify released a list of products that are trending up now, here.

Unfortunately, they did not release Australian figures. So I went through their list to see what google trends stated was in Australia interesting.

Going through them these three, I think, would be of interest to my clients.

You have to remember that Australia has plenty of time and often want to organise so:

Storage containers

Australia now needs more home storage products to tidy away your belongings. They often need to create a clutter-free home. What they want now is stylish storage.

Bookends

Books have been selling well. People are organising them into some old order. So bookends are in demand as they are a neat solution to tidying up their book collection without spending a lot of money.

Temporary tattoos

Many people want tattoos that last 1-2 weeks and then fade into your skin.

I hope this is of help.

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POS SOFTWARE

Under new management

When buying or selling a business, consider the ownership of the computers and/or software.

It is not so simple as the business is likely running the software under a license that grants them the right to use the software, however, they probably do not own it. So they will have conditions attached to their use. Find out what they are! We provide on request the details, a change of ownership form and account details to prospective buyers on request, provided that the old owner agrees. 

 There can be other issues too.

- The new owner may experience problems due to privacy laws, so the software supplier cannot often help the new owner if there are problems until it confirms the new ownership. If the changeover is done at the weekend, this can be a real problem. 

- Is the system under subscription? If so, what the new owner is buying is nothing but a legal obligation to pay. 

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POS SOFTWARE

 

Retail is changing. As such, what people buy from you changed too. The problem here is that our memory is like a camera. What can be in it is what was not what is now. This can cause significant problems. Own here is an excellent report to show you the shift in your sales shop.

Go to Cash register > reports.

Then Sales -Register> Sales comparison for a given period.

Above in purple, I put in the last few months and notice that I am using a few years back in comparison.

Now also notice in green that I changed the comparison from percentage to currency. This is because what happens is small departments often show dramatic changes. So, for example, a department with $5 in sales then, now having $20 sales, has a big percentage increase. In reality, is not much of a change

Try it.

Put in your figures and see.

 

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POS SOFTWARE

Mother's Day is approaching. I hope you have formulated a winning formula to make the most of this lucrative retail event. It is a good idea to make a special Mother's Day display. Here is what you can do to help you determine the items to put on this stand.

Go to Register reports.

 

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

 

In the form, put in the week before Mothers 13 May 2018 (I would not suggest last year). These are the items that worked for you then. Hopefully, you have them now.

Mother's Day is an excellent shopping day in retail. Although it is on a limited-time shopping with a short season, it can if properly done make a considerable impact.

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POS SOFTWARE

 

Retail today strives to maintain profitability. It has too. This is why gross margins are quoted. It is generally easy to calculate, often in theory, you do not have to as your suppliers will give them to you on request.

Actual gross margins, what you are getting is something else and challenging to get. Yet it is the heartbeat of your shop. It is the most important indicator to measure your business. It will help you see whether you are operating effectively.

It is, in my view, the best ways to determine whether your business position.

Now suppliers are often the first problem here as they often try to hide their figures. A common way to do this is not to give you margin but a markup figure. For example, a 30% margin is a 42% markup. Yet a 42% markup can sound better. Another way they often do this is to supply you with the margins for selected products only. Then they claim the others are of little relevance as they are minor. Yet to you, they may not be minor. It is, for this reason, we recommend that you always use margins for every product. That way, at least you are getting a consistent figure.

There are other reasons why actual gross margins are wrong. For example, if you have a product, you discount for some reason.

The result is the same, as your margins can differ from what it looks like in your mind. This is why you need a fast and reliable method to measure this KPI.

Well is quick and easy to do.

To get this KPI, please go to cash register reports, then go to sales.

 

Once there select

Dissection Sales / Profitability for a Given Period.

Now run the report for the last year. See is a column there which is % Profit, it will tell you the actual figure by dissection.

 

 

Now check them to see what you are getting.

Try it now, it will take you a second to do.

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POS SOFTWARE

This is a scannable QR code advertisement created by drones above the night sky in Shanghai a few days ago. It looks brilliant but makes me wonder if in the future will our heavens will be filled with QR codes. Have you seen the movie Bladerunner 2049? 

Already in your shop you can see QR codes are being used by suppliers of goods, but their use is rapidly spreading. For people with online stores, it is a must in the shop. That is why our latest version of our software has more support for QR codes. The possibilities of QR code in retail are many. One immediate advantage is that QR has better error correction. 

What has been happening is that some of our clients, while using QR codes, have problems scanning. The problem is with the scanners. Although we have not been able to pin it down, the main problem appears to be is glare. A fix that seems to work is to move the object. Failing that, change the scanner angle say reading vertically rather than horizontal. 

If this fixes it, try shielding your scanner from direct light. If this does not work, let me know.

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Gift wrapping has been a popular service offered by retailers to differentiate their products from other retailers.  

Since few have the skill, the public prefers to have people that know how to wrap their purchases. 

In my experience, gift wrapping is popular all year long. It is not a Christmas thing, as many people mistakenly believe. We all have regular family birthdays, anniversaries, dinner invites etc. 


Learning to do it is not hard. It only takes a bit of practice to develop.  In most shops, it does not take long to get the training. 

This you can offer at little cost. Start small and scale up if it gets up. 

I am sure you will see an improvement in your customer satisfaction and so get more sales.

One point you may want to consider is offering a *FREE* service and a *DELUXE* with a cost. Deluxe includes a card where their order, e.g. toy, will be beautifully gift wrapped in gorgeous wrapping paper. The odds are good that many of your customers will choose the Deluxe.

Come holidays; you can offer an appropriate wrap for that day.

Here is a step-by-step video above with a quick method if you want to learn how to it. It does not take long to master it; as a kid in my Mum and grandfathers shop, I could do it as fast as people handed me the item. If you want to see how quick it can be done with this method, check this video out.

 

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POS SOFTWARE

Balance Your Cash Register Drawer Like an Expert

If you are not now using X-Offs, I would suggest taking a look at this function. You will find the process at the end of day function.  See the purple arrow above.

If you want to play around with it, do not worry, as it is entirely safe for you to run "X" reports whenever you want to.

What X-Offs will provide you with details of what is in your cash register right now! It is a snapshot of your sales totals, till activities and cash balance now. You can run it as many times as you like.

Say you want to check something. For example, discrepancies in the cash register, check your sales in the middle of a day or verify EFTPOS transactions. Well, you can use X-Offs.

If you see the Options where the green arrow points, you can check lots of detail.

Why not test it out in the training system, put a few transactions into it, do an X-Offs and see what it shows? Then repeat the process with a few more transactions and so on.

This is another example of how our system offers you functions you can use.

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According to reports, I get the Australian toy market is now doing well. 

Yet, when I asked a few of my clients about this, I got confusing messages. Part of the reason is that here, I think, is that it's a big market. What you need to do is carefully find your ideal target markets in the toy industry. Then narrow your focus on those segments.  You cannot be all things to all people.

Looking through the reports, here is one segment you should look at if you are in toys, toys for pets.  

You have the technology as your Point of Sale system now is probably the best in this market.

This market is growing at about 7% a year, and it is growing both in units sold and unit price. 

Here are some demographics to help you to determine whether your customers are buying these products. 

-Unlike most toys markets, it is men that spend more than women on pets
-Homeowners spend more.
-Married couples spend more.
-People who live in the suburbs spend more.

If you think you tick these boxes, have a chew on entering this market.

 

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A first-level approximation of determining your shrinkage

You would be getting a theoretical margin in a perfect world. In the real world, goods get stolen, lost, damaged, mispriced, discounted, etc.

Checking your theoretical margin

It is often easy to get as your supplier will usually provide you with this figure. The first point to do is check this 

Go to register resports> Stock > "Quantity On Hand and Price Check."

The report will show you your margins. 

Actual results.

Here is how we get the actual result.

(Stock sold) = (Sales) x (1-theoretical margin%/100). 

Now for each department, 
(Perpetual stock) =(opening stock)-(closing stock)+ (purchases)

This is a first-level approximation, so we assume that your stock ordering is good. Thus we make (opening stock)=(closing stock) and so use the following formula.

The (Perpetual stock) =(Purchases)

What you want to compare is the difference.

(Difference percentage) = (1-((Stock sold)/(Perpetual stock))x100%

As a rule, about .5% is a typical figure.

If it is much more than that, it is considered severe. 

Plugin the figures from your totals report and purchases for the last twelve months. Now for each department calculate the (Difference percentage)

It should take you less than 10 minutes to do once you get the hang of it.

This will quickly tell you if there is a problem and, if so, the extent and where the problem is now. 

 

 

 

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