Point of Sale Software

Here are some Articles from the Blog Subject - tips -

Add interesting notes to your receipts

POS SOFTWARE

Adding marketing notes to receipts in your POS Software is something businesses can consider in their marketing strategy. Using this, you can make receipts more engaging and memorable for customers, potentially leading to repeat business or positive word-of-mouth. Today people tend to get receipts only when they ask for them, so they tend to review and keep these receipts as they are legal documents, proof of purchase, and a record for taxation. This makes it ideal as an advertisement for your shop.

Exciting notes on receipts, besides personalized messages, fun facts, promotions or discounts for future visits, and other engaging content, are notes specific to the goods sold. You add information that people who buy a certain product will find useful. While studying it later, they will see your banner on the receipt.

If you are interested in doing this, go to your top-selling items reports, it rarely takes many to get over 50% of your sales. 

Now call up the items in stock maintenance, see the arrow here in green, press the box notes and put in a note in the box starting with "^"; this will make it print on the receipt when the item is sold.

In this case, the retailer has added an advertisement.

image

For adding a note on say 15 items you will be surprised at how much effect it can have on your business. 

This is another example of using our Software to increase sales and improve your operations.

 

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How to check the NBN internet connection your new shop has

POS SOFTWARE

Today, a good internet connection is crucial for businesses. A reliable and fast internet connection improves productivity and communication and enables you to take advantage of many online services. The problem is that agents could be more helpful when you are looking at a shop location. I had one client for whom an agent misled about the connection. Oh yeah, he was told it has an NBN connection; see here and showed him the NBN box, but it was not connected. Apparently, NBN had already refused to connect it. later they were quoted quite a bit over NBN prices to connect to another ISP. We put them on a 4G connection, which never worked 100%, but it was better than nothing.

I can provide general information on how to check which type of NBN connection your shop is serviced with. Follow the few steps below:

1. Visit the official website of the National Broadband Network (NBN) and navigate to the "Check Your Address" page here.
2. Enter the address of your new shop and click on the "Check" button.
3. The website will display information on the type of NBN connection available at your address. You will also get other details, such as the estimated speed and availability of services.

In summary, a good internet connection is essential for businesses of all sizes and industries; make sure you have one before signing a rental on a shop.

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Shop sign "When you pay with cash..."

POS SOFTWARE

 

This sign was in a shop; it highlights the problem many businesses face today. With each payment method, there are plus and minus. For you to reject any payment method will cost you. There is no one solution, as every payment method has its merits for different people.

I am sure the bank fees are the big problem here, I am sure, to this merchant.

Some points that spring to mind here
- There is nothing wrong with asking people to pay in cash, and many prefer it.
- Many people today do not carry cash
- Do not fall for the claim; customers do not care about fees. They do. Often they pay it once and then do not return.
- BNPL does bring customers to many businesses, yet they have the highest costs. Is a percentage of something better than 100% of nothing?

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Its not too late, signs

POS SOFTWARE

The deadline for standard deliveries with most carriers has passed for Christmas, December 25 in much of Australia. If you want to ship something by then, you must use express.

 

Here are Australia Post deadlines. Even with express post, getting to New Zealand on time is questionable.

 

So many of my clients have placed signs in their shops for when items are eligible for Christmas Day delivery. It has proven to be a good way of generating last-minute sales. 

Try it out.

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Tell people your holiday hours

POS SOFTWARE

With the holiday season, many of you will have some irregular schedules. Even if you do not close, you need to tell people that because otherwise, many will assume you are closed. Tell me what the point is of opening if people do not come.

So I suggest you notify your clients, so they know when you’re open with signs, Facebook and email VIP newsletters.

If you have not got anything, here are some templates you can customise now and use for free.

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Buy one get one free.

POS SOFTWARE

The slogan "Buy One Get One FREE" is one of the most effective promotional invented. Studies show that it beats "50% off" even though both offer the same. This is because, marketing-wise, FREE is very powerful.

Here are some tips for using it:

1) It is better for cheap items where customers are prepared to stock up.

2) You need to pick items with good margins; after all, you are giving away half the money. Some people would use something like this

Buy two and get another free.

Here at least, is only a third off.

3) Works better for flash sales. Try running it during a festive season, for example, as a Father's Day special.

4) Many products customers cannot use two of the same product. For example, two jackets for the price of one might be a problem, but two pairs of socks for the price of one should be okay. In which case, for jackets, consider something like

Buy a jacket and get One from Category B for Free.

This Category B has proven to be a great way of selling stock you no longer want.

Setting it up is easy. All you need to do is follow the red arrows in the image below.

 


 

 

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Here are some tips for comparing EFTPOS rates today 

POS SOFTWARE

It's a fact that today when quoted, EFTPOS rates are often complex. It was great when EFTPOS suppliers USED TO provide a single rate for each item, as it was simple to understand. Today many few EFTPOS providers give a single figure. Here though, are some points to consider.

1) Nothing we can do about it anyway, most EFTPOS suppliers have their policies, and if you want to deal with them, we have to accept these quotes.

2) As conditions change, those who accepted the more complex figures often do better, e.g. during the COVID lockdowns as the tourist with their dearer EFTPOS cards did not come, those with the complex rates did better. If you get a single figure, you cannot plan for changes.

3) Often, these flat rates include little. You notice that extra charges get levied, which in the fine print is allowed but not specified in the quote. It's good to know as much as possible in advance.

4) You can get a precise figure if you ask whoever is giving you the quote to provide a figure of what it would have cost you on these rates in the last 12 months. You can do the exercise with some simple maths too, but I recommend asking the people giving you the quote for legal reasons. This you can use for comparison.

Refrain from believing the hype of free EFTPOS; your business pays for it even if the customer pays for it. So look at the figure.

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Should you accept American Express (AMEX)?

POS SOFTWARE

Some points to help you decide on Amex. 

The problem with many premium cards is that they come with high merchant fees. One such notable example is Amex. Often what happens is a growing number of Australians prefer to pay with Amex. These people get annoyed when you tell them that you don't accept Amex. Fortunately, most have Visa or MasterCard, but they do get irritated then, and you have created friction with the customer.

It can be a much more difficult problem dealing with people from overseas and business accounts. Overseas VISA or Mastercard cards are comparable in cost to Amex, so by rejecting Amex, at best, you have annoyed them unnecessarily if they offer their VISA. At worst, they cannot trade with you.

Many salespeople are commonly given expense accounts that basically need them to use Amex. Businesses do this as they can get more details on the Amex statement than VISA gives them on their account.

Now should your business accept Amex as complex? First, check with your credit card provider about the fees.

Then consider that today many majors take Amex, e.g. Bunning, Woolworths and, interestingly, afterpay.

The last afterpay has me wondering, as buying using afterpay will not cost me anything as the merchant pays the afterpay fees. This gives me progress payments every two weeks to pay interest-free. Pay afterpay when they come due with an Amex card which gives me another 55 days interest-free as afterpay is paying the interest. Plus, I get a whole lot of points. Let me know if you have tried it?

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Your last posting dates for Christmas delivery

POS SOFTWARE

Australia Post

If you use Australia Post as a delivery agent and require your goods to arrive by Christmas, then you must plan to move. Australia Post Recommended lodgement dates for Christmas are here.

Of course, these are only recommended dates, and sometimes they do not make these dates.

I would suggest that you set our software delivery options to reflect our dates.

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This Australian Halloween sales likely to top $430 million

POS SOFTWARE

It's likely that Australian Halloween sales will exceed $430 million.

This research conducted by Roy Morgan predicts that Australia will spend $430 million on Halloween. This year, over 25 percent of Australians will celebrate Halloween. One in five Halloween celebrators says they will host or go to a party with or without kids.

Because of the pandemic, it is difficult to anticipate demand for Halloween this year, but it is considered unlikely that consumers will alter their purchasing patterns.

 

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How to Use Retail Data Analysis to Boost your business.

POS SOFTWARE

 ​

I got several enquiries on how to assess this week's trading. When we discussed it, it became clear that there has been a problem over the past year; dramatic changes have occurred in retail sales. 

So the first item I would recommend studying is your gross profit figures. The most popular tool for evaluating the operational performance of the business is gross profit. Net income (the bottom line) is a better measure, but that is hard to determine in SMB. Many costs, like the owner's costs, are value judgements with different people valuing them. Still, you will not get your net profit figure without the gross profit figure, so once we have that, we can proceed to other measurements. 

Plus, a business has expenses, and the gross profit pays for them, so we all use them. 

I recommend going by departments.

Now to get this will take you a few seconds 

Register report> Sales Register> Dissection Sales / Profitability for a Given Period

For the period you are concerned about, select a suitable period. 

I would recommend first doing last year, then doing the previous three months and then doing last week in separate runs.

That report will give you a lot of detail by department, including the Quantity sold and %Profit. These are often excellent signs of what is happening. Many consider quantity sold to be almost as important as profit.

Once you find something you want to investigate, click on the left-hand side to see the green arrow. Now select the shop.

We call this drill down. You will find the details of what is in every department than their sub-categories. 

What you are looking for in your own business is to run the numbers. Figure out your sweet spots. Look at the specific ways that you can increase your profit. Start by looking at the items on the top with solid growth potential, high quantity and high profit. Then those that are on the bottom with low quantity and low profit. 

This is something that every major I deal with does religiously.

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Tip to kick-start your loyalty program

POS SOFTWARE

loyal programs in australia

 

Today almost every retailer offers customers a loyalty card to encourage shoppers to return to their store. About 88% of Australians are enrolled, of which 46% are classed as active users as they use four or more programs.

This is a lot of shoppers. The problem is that many people who think they will be only infrequent shoppers will ignore your loyalty program because they feel it is worthwhile. Well, a trusted and tested solution is to give your members an option to use their points to donate to charity. Studies show that 40% of Australians are happy with that.

 

So you have the same product as someone else, but if they buy from you, you will donate x points to charity. So offer them a chance to contribute their points to a charity. Most of my clients are local businesses, so select a local charity. Make sure it is apolitical. I recommend something to do with medical or kids from a registered charity. Stay away from anything controversial. You are not in business to campaign for causes.

If you need some ideas, click here.

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Using your free credit scores

POS SOFTWARE

A while ago, here I showed people how to get their credit scores free. When we discussed this, a couple of people told me that checking their credit score frequently will reduce their score. I checked, and it does not. This is the advantage of doing it yourself; if the bank does it, it can reduce your score. This is because bank enquiries they record. Now suppose you speak to a mortgage broker. The broker does a credit check; there is no problem. If that broker goes to ten banks on your behalf, the ten banks' enquiries will be significant. These enquiries, as they are frequent, give the impression that you are short on cash and/or are a person that keeps looking, which banks do not like.

Many consistently track their credit score, especially if they have poor credit risks.

How important are these credit scores?

In my experience, not so much if your score is over 600. I have seen people with bad scores having to go to many banks and credit providers. We had one broker we used a lot because it did not matter what the person's financial state was; that guy seemed to be able to get the money. Still, as long as you are willing to hunt around, in my experience, a bad credit score does not seem to be a significant factor to credit providers. They look mainly at your serviceability, the security and then you. You are not being silly if you go to the loan officer in the bank smartly dressed and acting confident. Still, I would prefer to go to a bank with a good credit score than with a bad one.

If you want to look at your score, the one that seems the most popular is Experian, and you can get your score here.

Note: I am not a financial expert, and this is not financial advice.

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Calculating your budget in the shop

POS SOFTWARE


 

What you can do in your POS System is set a budget for each department? Now here is a quick way that works well how to calculate such a budget in a typical shop which will take you less than five (5) minutes to do. Of course, no shop is standard, but what do you want for less than five (5) minutes of work.

Divide the shop into nine segments, as I have done above.

Now on the top in black, you will see the scores 3, 2 and 1. This is because, in Australia, people tend to go to the left when they go into a shop, so the left of the shop is more valuable.

Similarly, on the side, you will see the scores 3, 2 and 1 in black. This is because the front of the shop is more valuable than the rear.

Now when you add them up, you will see in red the totals, which is the addition of the top and side scores.

Now, add another 4 to that area segment where most of the front counter is.

If you are setting a budget, you take the total shop budget. Your call whether you do it as profit or sales. Divide by forty (40) and multiple by that segment total, for example: if the shop's budget was $800,000 a year. For the bottom front segment, see green arrow its budget would be $800,000 / 40 x 6 = $120,000

Now there is one caveat: the very front of the shop is used for display and is a decongestion zone where people often walk through without thinking. This part varies so much in different shops that you must make your own value.

The quickest way to proceed is to run a totals report for the past twelve months. Now take your total sales and divide it by 40. Now multiple by its total above for each area segment giving you a figure for each area segment.

Now for each department, look at its area segment and note its figure. If three departments share a segment, divide it by three and use this figure on the report. If a department is in a few areas, add the figures up. Now see how its sales figures compare to these figures. Maybe you have some rearranging to do?

Now here are some key points using this analysis.

1) On the right of the diagram, you will see a thick line in blue. Once people enter your shop, most shoppers will turn to the left. Count the right (4+5+6=15 points) and compare it to the left value (2+3+4= 9 points)—a big difference in score. 

This left side is what we call your power wall, as this is where customers naturally end up. It is where much of a shop's sales occur, so make sure it looks attractive. Style it up. Have your high-margin items there.

You can see why large suppliers, e.g. card companies, want you to put their product on the right side of the shop. They have done this maths too.

2) Why do most retailers prefer the front counter on the left of the shop? The space is less valuable there.

3) Why do many retailers like counters on the back. Well, the area there is less valuable.

Have a go; I am sure you will find these five (5) minutes of work helpful.

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Two or more prices on one item!

POS SOFTWARE

Having two prices on one item is asking for trouble. Even if it is clear your intent, people will have problems.

This happens a lot. A typical example might be a sale item. After the sale, the retailer puts a new price on top of the sale price, but the sale price is still visible.

One client of mine got into an argument over this when a customer demanded a lower price claiming that she must sell the item at the lower price by law. She replied coldly, " I do not have to sell you the item at all." The customer stopped arguing but did not buy, so who won that argument? To me, it was an unnecessary argument.

This started a discussion and some research. As far as we understand the law, it depends on your terms and conditions; if they are not displayed, then there might be problems. It should state that you can cancel orders and withdraw products because of pricing errors. Also, you need to consider if it goes further is whether it was not an error rather than an attempt to deceive. In this case, this practice can lead you into a lot of trouble unnecessary.

Take the old price label off.

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Important and Key Retail Dates in 2022

POS SOFTWARE

Too often, my clients miss out on sales as they are not prepared. Don't be disheartened; okay, this year fizzled, but there are good reasons for attempting next year. 

In business, you need to be organised.

I suggest you go over your diary and write your business's critical retail marketing days. Put in a check date when you need to get your stock organised, a date when signage has to be up, and the marketing day date. Your POS sales reports can give you many good ideas about what you need to get.

Here are the important key retail dates that every retail should know and plan for: 

July 2022 (Now)

- EOFY Sales
- Stocktake sales 

September 2022

- 4th Fathers Day
- AFL Final season

October 2022

- 31st Halloween‍

November 2022

-1st Melbourne Cup
- 25th Black Friday sales‍
- Christmas season begins

December 2022

25 Dec Christmas Day 
26 Dec Boxing Day sales
31 Dec New Year's Eve

However do not stop here, go over your business and I am sure you have important sales dates for your market space too.

eg Fashion shops - Winter sales (now)

Card sellers - 30 July – Islamic New Year

etc

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Have a chew about using arbitrary coherence.

POS SOFTWARE

 

Arbitrary coherence is a marketing technique used by some retailers. What happens is when people are faced with a product line they don't know will often select an arbitrary price to determine its value. A typical example is in gifts who knows what the price is of a gift item?

Now imagine in the shop there are two similar items:

1) $15 item

2) $20 item

Now you add a third item

3) $50 item

Studies show that by having the $50 item on display, sales go up as people buy more $15 and $20 items because the cost seems reasonable compared to the $50. This is true even if no $50 item is sold.

Works well even if the product is not in the shop for example when doing special orders. Start with the $50, then quickly mention the cheaper ones. 

Check out the video below if you want to think more about it and its business use.

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Some points on business ownership change

POS SOFTWARE

Recently on our company blog, I published an expanded guide on properly handling software license transfers when a business changes ownership. 

This initial article provided a high-level overview of why licenses don't automatically transfer to new owners - and how oversights can lead to issues. But many readers requested more details on smoothly navigating this process.

So in the new comprehensive version, I dig deeper into topics and added a FAQ with commonly asked questions: 

Whether you are selling your current business or acquiring a new one, I encourage you to read this updated guide. 

You can find the full article with all the details here:

Let me know if you have any other questions as doing this right from the start saves immense time and trouble later on.

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Checkout your Free Staff Rostering Software now

POS SOFTWARE

What is often a revelation to our new clients is how much they can save time and money from our rostering system. Unlike many, it unifies rostering into a single platform, permitting you to see your shop’s retail performance as you have never seen it before. It allows you to ensure there are enough employees on-site. What it does is it comes with a forecasting tool that helps you to organise accurate schedules. This ensures you have skilled employees available and shows you when they need to be at work. As it is centralised, it is easy to see who is working at any given time.

One report that I recommend you study while creating a roster is the traffic analysis report by the hour of your shop, which you will find above.

You can find it here.

Put in dates from a previous period that you feel will give you typical results for the roster you are trying to create. Now, you will get a colour-coded analysis showing the activity in the shop divided into four groups with red for the busy period. This graphically shows you when you can expect to be busy.

Why wait? Give it a try now.

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Reality and benefits of our EOFY sales

POS SOFTWARE

The reality of the current market for computer and POS equipment is that shortages are everywhere. We have inflation, and the Australian Dollar, over the past 12 months, is down to the US dollar. 

Bottom line, product availability is challenging, and prices look like they are going up. If you think of updating your computer system, now is a better time to buy than in six months.

Also, if you move now, you can claim a revised tax write-off, which opens up many options for businesses.

This allows businesses an immediate tax break, which can be quite cost-saving. It enables you to buy high-quality equipment that will benefit your bottom line for many years. 

You need to do it to move immediately. As even if the products are ordered and paid for but haven't arrived at your premises, you cannot claim the deduction.

For details on the EOFY sale, please click here.

Please, note I am not an accountant. The information in this article is not legal advice, nor is it intended to be used as a substitute for obtaining independent professional advice. That is what you pay them to do.

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