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Welcome to the Business Insights Newsletter

How Retail Business Software allows you to focus on your business and the fundamentals.

March 6th, 2009

Category: Point Of Sale Systems

Woolworth's Adding 7,000 Aussie Jobs

In our story about Woolworths and the recent increase in employees we had a quote from CEO Michael Luscombe where he states what makes retail succeed: “the right products available and well-presented in our stores; a competitive price, and people who enjoyed interacting with customers.” In this article we will discuss how a good Retail Management System makes all of these things easier to happen.

“The right products available”
A key feature of any good Retail Management system is that it will track all items in a store, the frequency they sell, and the profitability of that item. It will help management notice hot sellers and make sure they are available at all times despite the increasing turnover. Additionally a good Point of Sale system will make the overall business of running a business easier so that you can spend time interacting with customers, asking what items they would like to see, and staying current with industry trends.“Well-presented in our stores”
Even a great POS system is not going to put items on display, plan a planagram, or make sure all items are faced properly so they look their best. But it will help you keep tabs on what is hot, what is selling, and what stock levels are needed in the business. With these key variables it will be easier to decide what items should be placed where in the store for maximum sales and visual appeal.

“A competitive price”
People do not always demand the lowest price but there has to be some resemblance of sanity with the pricing. If there is a premium price in your stores there should be some reason for it. Is it image, service, the latest items? Whatever it is you need to have a system in place to allow you to focus on your core competencies and what the customers have come to expect from you. Additionally a good Point of Sale system will show lagging items for them to be investigated for competition that is newer, better, or just significantly cheaper.

“People who enjoyed interacting with customers.”
This is the last thing Woolworths CEO Luscombe states as important and it is one of the more difficult ones to master. This touches on quite a few aspects of business and is not just a software or business tool that you can buy and install. This will have to be an ingrained process that encompasses human resources, compensation, management style, working environment and career progression. We think that you can imagine some of the things that need to be fostered and cared for in your business. Some things a good point of sale or Retail Business software solution can do is make sure that the day to day interactions employees have is easy, enjoyable, and gives them good data quickly. When a customer is buying something or asking for stock information this is one of the few chances most employees will get to interact with a potential customer. Relieving stress and making the employee feel as they have the best tools to do their job is vital. If the employee feels as though this is just another frustrating aspect of their job this will be transferred to the customer who will feel like they are being the problem and they will leave and buy where the overall experience is better.

Additionally having good business data through software integration will allow you to match store staffing to customer flow and needs better. This will undoubtedly make the employees feel as though the store is properly staffed without being too busy or too slow. And the customers will get the attention that they desire from employees happy to be there.

 

 

Creative Computing has systems to help ensure you always have the right products available for your customers. We provide Point of Sale, Inventory Management, Accounting, and General Ledger integrated and accessible from any location.  To find out how we can help you run your business please tell us about your business or visit us at our homepage.