For many of you, this Christmas will be the defining moment this year.
There are some big positives this year:
1) Our vaccination rates are rapidly growing. Based on current rates, if it keeps up, we should be able to achieve 80% earlier than Christmas. This is much better than anyone thought possible, even a month ago.
2) The other big plus is the public has plenty of money. For Christmas, people will spend so some of that money should come out.
The big negatives are:
1) The new COVID variants are less lethal but more contagious. The big concern here is delta. Still, we are losing control of the situation. Despite stricter lockdowns, COVID is up. It will not disappear. It will mutate, just like the flu does every couple of years. Everyone who wants a vaccine will get it, and the rest will end up with their immunity after fighting the disease. We have to open up, and somewhere between 70% to 80% is the agreed point. That will be earlier than Christmas.
Still, this is something you need to consider for your shop. If I were in a shopping centre or a strip shop, my thoughts would be very different about the possible effects of more lockdowns on my business. Also, is my industry is classed as essential or not?
2) The supply situation. All stages of the delivery network are now reporting problems. Delays and shortages are everywhere. The public is aware of this, so we can expect that consumers fearing product availability and delivery delays will start to buy early.
Currently, most forecasts are for higher holiday retail sales than last year.
This is why I am saying that it is time to think about Christmas.
Don’t let this Christmas be a retail nonevent for your business!
Parcel delivery updates are generally emails. These are sent to people to tell them where their parcel is and the expected delivery details.
Today most people appreciate getting them.
So if you are sending your customers goods by courier or doing it yourself, it is good to send them. You can use our POS Software to do it, or you can forward to your customer the information as you get it by email.
Here are some benefits
) It provides an appreciated service to your customer.
) Provides a personal touch to your business.
) It reduces the amount of work you need to do. Customers with this tracking information will generally contact the courier company directly if there is a problem - this sort of keeps you out of the problem loop.
) It puts your name out to an engaged customer. For this reason, always put a picture of your shop or logo with your details in the email. Also, set in the email a link to your social media, e.g. Facebook page.
) It provides you with an excuse to get your customer's email for both future marketing and accounting reasons.
I do not see any downside.
You have a good reason to contact your customer; why not use it?
At the end of the upcoming fiscal year, make a marketing plan for the next few weeks. Do they work? Well, look at any large retailer, these people have heaps of experience in this matter, what are they doing? Would they do all this advertising if it did not work?
If it works for them, why not you?
Take a look around your shop for some loss leaders to fuel the sale.
Need some ideas? Here is something that will take you a few seconds to give you these ideas.
Go to register reports > stock titled "Old Stock on hand by Date last received"
This will gives you a listing of your stock based on when you received it. Unfortunately, this stock is rarely doing you much good, and it often costs you to keep it.
Here are some ideas for you to season your EOFY sale.
1) What about making some of this into a bundle by putting some of these with something that does sell.
2) Make a bargain bin.
3) Use them as specials
Now put them out and put a sign on your shop.
Let me know how it goes. I doubt you will be sorry you try, but I am sure you will be sorry if you do not try it!
Everyone is trying to get some more retail sales. One of the most effective methods is tripwire marketing.
How to set up a tripwire marketing campaign?
What you are doing here is making a cheap item, a bargain for shoppers. The idea here is that people who do not know you. They have never experienced your products and services, so they do not buy from you.
They do not know you; so they do not buy from you. That is where the tripwire comes in.
What it is, is a cheap item that is low-risk that potential customers will buy. The purpose of tripwires is an introductory offer.
Firstly you need to find such a product. A good way of starting is to look at your top-selling products. This is easy to do in our point-of-sale system.
Go to Register reports
Now select "Top N Stock Sales for a Given Period"
Now in the form put in last month.
Now a report comes out that looks like this with your top sellers listed.
Now a report comes out that looks like this with your top sellers listed.
Now see the sort of products here.
This gives you an idea of what people will buy from you and at what a price.
Now see if you can find such a product.
All you want from that product is a sale to build trust with the public to make the first sale. Then hopefully recurring purchases will follow.
Try it, good luck, and let me know how it went for you.
CRM is short for Customer Relationship Management.
You all have a CRM software written for retail that we supplied to you *FREE*.
Why not try it out?
Consider this if you go to a corporate and talk to their retail executives and experts there. What you will find is that these people know about retail. Often they have heaps of years in retail. Behind them are many experts that are giving them scientific information. They know retail.
These people do not think its enough to have a shop and then wait for people to visit them. This is, unfortunately, is what so many SMB retailers do. What they feel is that people need to be enticed to come to their shops. So they look at how to give these people a reason to visit and shop with them. This can be expensive so what they need is a way of measuring how they are going. What they want is to make changes and then see how it goes. Then they want to know if these changes did or didn't work and also why. This is partly why they need CRM.
Also, they want to build up loyal customers as it is said, "Good customers are as rare as latinum (Gold) - treasure them". A retail CRM system is required to find and build loyalty. A customer that comes regularly is worth much more to your business than the big buyer who comes once.
CRM today is the key to managing business communication in modern retail.
Shops that had a CRM are doing much better during our COVID world than those who did not have one. I bet they will continue to do better in the POST-COVID world too.
Why not give it a try?
My post on the need of item sales information caused a lot of inquiries.
-The problem is that besides sales, many people want to know the items that sell the most.
-The items that give the most profit, stock turns, etc., in a category, department, location, etc.
So go to Register reports > Stock> Top N Stock Sales for a Given Period.
Let us say you want to know, for this range, what sells the more by quantity, well it is easy to find out. Click "Select Top By" above and click "Units Sold". Retail experts call this the vote. They consider that the shoppers are when they buy they vote on that item. That is considered to be why people are coming into your shop.
I think a more meaningful measure is the profit item below it. This shows the things that are producing money for you.
A useful idea that works is to put near the best selling item, the most profitable items.
I do suggest that you try out these options above now and experiment with them.
This is the Last minute shopper, you know the person that decides to go shopping for Chinese New Year or Valentine's Day in the last few minutes in a mad rush.
I've been there myself, thrown out of the house and told to come up with a suitable gift for the occasion.
This is good news for savvy shop manager ready for this last-minute rush. Here are some tips.
1. Put a sign on the window, so this person knows you have something.
2. Make a featured area with items suitable and easy to find outside on a stand.
If you are not sure what to offer on that day, see what sold well last year on that day, it will give you some ideas.
This is easy in our POS system.
Go to Register reports.
Now select "Top N Stock Sales for a Given Period".
Select the day.
Outcomes a report with the top sellers for that day
3. Offer clear gift alternatives, remember often this shopper has little idea of what to buy.
4. Offer gift wrap
5. Have appropriate greeting cards on offer if possible.
Final note: Much of the stock is lost if you do not sell on the day, so consider doing deals.
Two marketing holidays are coming up, Chinese New Year on Friday, 12 February, and Valentine's Day on Sunday, 14 February.
I hope you have something to offer for each of these holidays.
As you can see, public interest in both in Australia is high based on google searches. So there will be much there.
I am sure that Chinese New Year 2021 will be more important to retailers than in previous years. This is due to the impact of the COVID-19 pandemic. What people tell me is that Chinese New Year as a marketing holiday is growing longer. Many are reporting Chinese people buying now and expect it to continue after the holiday for a while.
Although many retail experts are not sure about Valentine's Day, as it was big last year but not so big the year before. Still, many are reluctant to go out to restaurants. They are not going on big trips so that they will need product.
What Google Trend shows is that people are looking for ideas.
Please make sure you have something.
Now is not the time to keep a “business as usual” approach. COVID-19 has changed the retail scene. Do not count on your experience. You need to look at the data.
See what items are driving you the most traffic and profits into your shop. Once you know your money-makers, you can move them to prominent places. The current retail theory states that you should put good products in a few places. This is because, in the age of COVID-19, the stress is on giving more space for your high-demand items versus showing many items.
First, let us find your *MONEY EARNERS*. It will only take a second.
Go to register reports and select the top stock report as marked with the red arrow here.
For this do this by all the shop sales.
Put in the past 30 days, then select 40. This will give you your top 40.
Then you will get a report with all the figures.
Now put these items in a noticeable place. The more places, the better.
This method works, try it!