How wrong I was!

His problem is that he has been too busy trying to cope with the best year that he has ever done – he has no time to plan an expansion to his system. A problem, no doubt, many retailers would love to have!

It reminds me of the story of the American war between the Army and the Red Indians. The Red Indians are trying to fight off the military with bows and arrows. A salesman with a Gatling gun is tapping the shoulder of the Indian chief. “Chief, can I interest you in this?”

The response, “Go away, can’t you see I’m trying to fight a war.”

Sometimes in business, we all have to reflect whether we need to put time aside now to improve our profitability in the future.

epos retail, retail stock control, epos systems

A report published this month “Technology in Fashion” claims retailers are beginning to invest in their businesses again, rather than cutting costs.

63% of businesses said investment in ecommerce and home shopping would be a key strategy over the next 12 months.

55% of retailers predicted their sales would increase next year, with 33% predicting they would remain the same, and only 12% predicting a decrease.

Checking store stock levels from the website, a capability that customers are particularly keen on, is currently offered by only 30 % of retailers.

All these functions are available within the Trackit software, connecting web sites, market places such as eBay, shop stores, office and warehouse functions, all on a “real time” basis.

EPOS Retail, EPOS Software, Retail Management, EPOS Systems, Till Systems

He explained that he was about to sign up with another system but, following receipt of a mailshot, would look at Trackit provided he could see us within the next 24 hours. I rushed down to his offices, and spent one of the longest demos ever showing him the system! Over an 8 hour period, with a sprinkling of chapattis and samosas, we agreed a deal.

Many things have changed since then, but he is still using Trackit and expects to take on board many of the new features, such as a fully integrated web site in 2010. We wish him well for the future.

EPOS Retail, EPOS Software, Retail Management, EPOS Systems, Till Systems

Do you collect customer contact details? Most retailers without a computer system find this difficult to manage – you automatically collect the details if you have e-commerce, and it’s very easy to collect them at the till point with Trackit. If you require address details, built in post code software allows you to pinpoint the street – simply enter the house number or name. If you want to do e-mail marketing or SMS (text) marketing, collect these details (which can be made mandatory for your staff to complete).

Now you have the customer details and, of course, you have Trackit collecting the turnover details. The “Customer Profile” software allows you to select customers who spend over a certain amount, in a selected date range, by supplier or brand, by department and even (for clothing retailers) down to size and colour.

So make contact with them, by post, e-mail or text. For example, consider the power of texting. You know it’s immediate and it will get to the right person. You know they like your brand you are promoting, be it maybe clothing, glassware or perfumes. Go get them! Bring them back into your store! These are your big spenders.

Other ways to bring back customers is using our “Club Card” software which I discussed in an earlier Blog dated 24th September 2009.

Your customer base is your “goldmine”. We are all guilty of spending 80% of our time looking for new customers. Maybe we should spend 80% of our time marketing back to our existing customers?

EPOS Retail, EPOS Software, Retail Management, EPOS Systems, Till Systems

“People will soon get tired of staring at a plywood box every night.” Darryl F Zanuck, head of 20th Century Fox on the subject of television.

“Computers in the future may perhaps only weigh 1.5 tons.” Popular Mechanics 1949.

“There is no reason for any individual to have a computer in their home.” Kenneth Olsen, president of Digital Equipment Corp (DEC) 1977.

“Lame”. Rob Maida, founder of technology website Slashdot, on the 2001 launch of the iPod.

So what about Trackit, what’s our prediction?

“Trackit will continue to be one of the few leading support companies for retailers that offer fully integrated sales and stock reporting systems, with epos tills, warehousing and office software , web and on-line shopping channels, all driven on a “real time “ basis, all operating through one common database.”

Blog me in 10 years time to see if my forecast is true, or I’ll eat my hat!

EPOS Retail, EPOS Software, Retail Management, EPOS Systems, Till Systems

A regular column is “An indie I admire”, chosen by guest writers

Customers of ours are frequently included…….

Eleven in Sunderland, Tyne & Wear
Chosen by Chris Scott-Gray, writer and business development consultant

Eleven is in my home town of Sunderland and believe me, when I was a kid there was nothing like this.
This is a great menswear store, partly because it is such a contrast to everything that went before, but mainly because it has a relaxed style, a fascinating mix of labels, charming service and a non-linear way of displaying products.
When I first saw Eleven’s store I wondered if Sunderland had enough footballers to keep a store like this going (despite ex-manager Roy Keane’s shopaholic transfer policy), but I soon realised that this is a home for menswear aficionados rather than just flashy dressers.

Moet in Stafford
Chosen by Stacey Booth, chief executive of womenswear brand Betty Barclay

There is a really warm, inviting ambience at Moet and the attitude of everyone in the team reflects the personalities of the owners Andy and Mo Griffin, who seem to have relentless passion. Their enthusiasm is contagious and is tempered with a wicked sense of humour in the eye.
A focus on customer service has helped build a loyal customer base over the years and, from my own conversation with its customers, many people travel quite a distance to visit the shop.

EPOS Retail, EPOS Software, Retail Management, EPOS Systems, Till Systems

The result – regular breakdowns and overheating causing downtime and lost data. In a busy shop this is a nightmare.

The epos till is the workhorse of the stock management system, often in use for 12 hours a day, 7 days a week.

That’s why it is so important to pick the “right” piece of hardware.

In the 13 years of Trackit, we’ve not been exempt from the above problems, but we are now.

Our epos till is supplied by Geller, a UK company that has been at the point of sale since 1957. The touch screen integrated till we use is made of cast aluminum for robustness, but most importantly it is “fanless”.

What does this mean? Practically all PCs and laptops have one or more fans drawing air into the unit to keep the processor cool. As well as drawing air in, it draws dust in. This dust settles on all the components and builds up on the fan itself. As a result of this and over a period of time, the fan will go slower and slower until it stops. The PC will overheat, and will keep shutting down, burn out vital parts or even catch fire.

In a “fanless” Epos till, this cannot happen – there are no moving parts, apart from the hard drive which is hermetically sealed.

Result. Far more reliability – peace of mind that’s worth paying a little bit more? We think so, which is why we only use “fanless” integrated tills in our epos installations.

EPOS Retail, EPOS Software, Retail Management, EPOS Systems, Till Systems

The loyalty card can store customer and points details – like the Tesco card – and for the till to read it, you don’t even have to take the card out of your wallet or purse, it’s that powerful!
Getting back to the mailshot, the response was fantastic. Many of our customers are now in the process of the design and ordering of the cards. Why, because they see a real advantage in using it to bring customers back to their store.
Some of our retailers are sending out Gift cards already loaded with a small amount. Why, because it brings the customer back in, and inevitably the customer spends more.
Now that is a “smart” move.

EPOS Retail, EPOS Software, Retail Management, EPOS Systems, Till Systems

Let’s work out an example and look at stock first.

Say you carry stock of about £75,000. Using simple and quick “Goods In” procedures you get closer control of your stock and accurate stock levels. For businesses with more than one location, tighter control over stock transfers.

I don’t think I’ve talked to any of our users who haven’t managed to reduce their stock levels. Typically you save 15% of your current stock value – see our case studies.

Stock level costs of £75,000 will reduce your capital investment by over £11,000, resulting in a reduction in your overdraft or increasing your bank balance.

Couple this to better buying and ordering, because you have immediate information on stock levels, sales trends and back orders, you can get the optimum quantity at the best price – use min max levels if you wish. The result is an improvement in profit margins of up to 5%. A 3% improvement on an annual buy of £150,000 would save at least £4,500 a year.

Quick and simple stock routines give you an up to date stock valuation at any time. Stock takes are a breeze with our easy to use Portable data capture terminals. You can do spot checks, maybe if you suspect theft. Shrinkage can typically cost a retailer 3% of his stock value. A 2% improvement on £75,000 would save £1,500 per year.

Improved stock control is a double whammy! You will find that your customers will be more likely to find products on your shelves and rails, because you have improved the management of your stock levels and ordering processes. This could easily increase sales by 5%. If you take only a 3% increase on turnover, this could increase your gross profit by at least £4000.

Now I’ve got your attention, let’s look at sales.

Use the full power of the sophisticated techniques built into the Epos tills, such as multi buy, special offers, up selling “related “ items, gift cards and loyalty schemes based on points. Maximise your sales – just a 3% increase on a turnover of say £400,000 could produce an increase in profits of over £4,000.

Your customer base is a goldmine. You can start collecting customer details – e-mail, mobile phone or full addresses using our quick post code look up, and bring them back into your store. We have retailers who e-mail their customers several times a year, and it no doubt increases sales. On our example of £400,000, it could easily be another increase in profits of £4,000.

And then there’s web sites and eBay linking to full Stock Control– but this is a subject for another blog!!!