The Retail Buzz

As the old saying goes, "more is better" and this is truly the case for retailers who need to make profit-enhancing decisions quickly and with ease. That's where Retail Pro Business Intelligence (BI) comes in.

The BI module is designed to bring Retail Pro 9 users a distinct advantage for managing their business whereby they can monitor and analyze vast amounts of data in a snapshot view, enabling them to respond quickly to changes in their business conditions.

Since retailers need to be alerted to potential problems and make better, more informed decisions, BI is a tool that will provide valuable insight and actionable information to allow fast response in business conditions.

With independent industry research indicating a ROI of up to 2,000%, a business intelligence application should be a key component of a retailer's architecture.

Read article "Does Business Intelligence Give a Retailer Insight Into The Future?

For more information, contact a Sales Representative at One Step Retail Solutions and see how Business Intelligence could help your business. Send email to sales@onestepretail.com or call (800) 266-1328.

New episodes of Smart Retail are broadcast every week. Watch the latest episode "Building Your Store Around Your Community" featuring Bailey's Bedding & Bone - a new eco-friendly pet supply and dog boutique that opened with a big splash in their community and rapidly carving its niche and becoming known with the use of events, promotions and free publicity.



If you missed Episode 2 "Adding Value Using POS" featuring the Body Factory, a health and beauty supply store that opened 16 years ago and now has 3 stores draws a celebrity crowd and hooks its customers on their healthy drinks, then manages its customer base with POS.



Leave a comment on episodes at http://smartretail.tv/!

Resourceful retailers are finding creative ways to reinvent themselves and transform their business into something that entices and keeps customers. The more creative a retailer is, the more that business is going to last. Even in an economic down-turn, 50% of consumers will often pay more for a better customer experience.

While filming Smart Retail™, I saw some pretty clever retailing and it brought to mind all the opportunities that are out there for independent specialty retailers in this threatening economy. What it all boiled down to was unique customer experience and exceptional customer service.

Times have indeed shifted and retailers had to cut back to basics. Interesting that basics included customer service, isn’t it? This means that, in many cases, retailers had once dropped out the fundamental action of servicing their customers in better, more competitive ways.

The days when retailers could just sit back and watch customers come in because of location or brands or nice merchandise are over. Now retailers need to get on the ball and drive customers in with offers or gimmicks and keep them coming back because of something exceptional.

That something exceptional falls into customer service.

I once came across “the Japanese way” of customer service, which is giving customer-service representatives time for long conversations with targeted customers and tuning into the customer needs.

One time I was at an electronics store and was being serviced by an employee who was interrupted by another customer needing assistance while helping me. The employee got on his walkie-talkie and got another service representative over to assist the other shopper without making either one of us feel ignored. He then proceeded to give me his full attention again showing me this and explaining that and taking the time to make sure I could make the right decision on a product.

Servicing a customer is similar to how we want to be treated by our friends and family. We like the fact that our friends and family know us, know what we like, and treat us with more warmth than a stranger might treat us. It feels good to know they care and, in turn, they earn our loyalty and love.

When a wife prepares a gourmet meal for her family, sets the table nicely, and presents the food in a lavish manner, this is an over-and-beyond way of preparing a meal. It expresses that she cares and this transmits to her family who are experiencing something other than an average meal.

One of the retailers we filmed put on a party event, which they do every Thursday night at their store. Elaborate bouquets of flowers were arranged on tables, tasty snacks were laid out, wine was poured in nice wine glasses, and employees were greeting every guest as if they knew them for years. You would watch people walk in and stay for hours browsing around, talking, and just enjoying themselves.

Many of those people were already loyal customers who showed up as if they came to visit friends. Others had never been inside the store before and it was pretty certain that they left as a new loyal customer.

That came about because of customer experience.

And then there’s a specialty sports shop that specializes in skate boards which holds regular skate board events in their store, making the customer’s experience a fun one. Most of their customers are the type that wouldn’t think of shopping elsewhere and many of their younger clientele even tell the employees that they work to shop there.

One café turned their struggling business around based strictly on kindness. As local businesses closed down, their patrons vanished, until the owner promoted a campaign around kindness. Soon, the café was filled with people who came from all over town to experience participating in acts of kindness.

I myself have dined at particular places because of the experience I get when I go there, even though I may prefer another food menu choice. The employees that serve me treat me like a good friend has just come to visit, and we’re on “How’s the kids?” terms.

Many hair salons have loyal customers coming back for years and years. One salon cut her prices to a customer who suffered a pay cut at her job. She would never have known this happened to her customer if they didn’t get on a personal level with each other.

A suit shop really had an over-and-beyond approach for helping customers who hit hard times. They promoted that they would give money back to their customer if they lost their job, and let them keep the suit.

I keep finding and reading stories every day about exceptional service and care. An apparel store irons a shirt for a customer who needed it for a meeting that day. A hand-written note was sent to a customer thanking them for shopping there and commenting on the outfit they purchased. A dress was sent to a tailor to make it fit their customer better. Drinks were offered at an upscale men’s store while they shopped. A foot massager was positioned at a comfortable chair for a shopper’s companion.

I could go on and on but, bottom line is to get to know your customers, know what they want, treat them with exceptional service and show you care. The way you do that, the way you provide an experience for them when they come to your store, is the way you’ll bring them back.

By Scott Kreisberg

Follow him on Twitter: http://twitter.com/scottkreisberg

Smart Retail, a new Internet TV series hosted by retail expert Scott Kreisberg, premiered June 19, 2009 to an eager audience who have been following the show updates via Twitter and Facebook from pre-production through post-production.

New Strategies for Retailers that get New Customers and Keep Them Coming Back to Your Physical Store

Tuesday, April 28, 2009
Time: 11:00 AM - 12:00 PM PDT

Reserve your Webinar seat now at:
https://www2.gotomeeting.com/register/238260659

Leverage market conditions and new opportunities. Hear about strategies to optimize the marketing mix and build a competitive advantage.

Learn:

• Some specific exciting in-store promotions that draw customers in
• How to target your most profitable existing customers
• How some pricing rules may be obsolete and limiting your revenue or profit potential
• How to know if your traffic drivers actually yield profitable traffic or if they encourage cherry-pickers
• The buy online/pick-up in-store' model
  And much more!

Kevin McAdam, author, speaker and Vice President of One Step Retail Solutions will present this idea-inspiring webinar to really get your creative imagination working on how you can attract new customers and maximize return on existing customers.

It makes sense to maintain or actually increase marketing spend and sales resources during a recession. Over the past 50 years, companies that have been aggressive in these regards experienced a 275 percent growth rate improvement during the first full year of recovery. Whereas, those that pulled back on their marketing and sales spending increased revenue by only 19 percent during the recovery period.*

But how to spend your marketing dollars and on what? One of the most famous cliches in advertising is the one from retailer John Wanamaker: "Half the money I spend on advertising is wasted; the trouble is I don't know which half." But with the advent of technology systems, this is no longer true. Find out how to know the return on investment of your advertising dollars, how many new customers it brings in and how many old customers it motivates to buy more.

Attend this free on-line webinar and find out new strategies for acquiring new customers and keeping existing ones. After registering you will receive a confirmation email containing information about joining the Webinar.

*Nielsen's Predictive Macroeconomic Impact System (PMIS).

One Step Retail Solutions has embarked on an internal campaign with its employees to shift focus from economic doom and gloom to higher, positive energies.

What started with an executive order to the marketing department instructing them to start promoting “good news” to its staff, clients and public soon took on new dimensions at One Step. The initiative started with broadcasting regular and frequent emails about good news in the retail sector, expanding its reach using the Blogosphere and Twitter.

The Marketing Dept. searched and compiled good news relating to the retail industry from various resources on the Internet and distributed the news along its various channels. While most of the news resources were still mostly promoting gloom about retail, there was one source that provided the bulk of good news; and that was on Twitter.

Twitter led to many sources with messages of encouragement and success in retail, despite the recession. One source led One Step marketers to get a daily dose of inspirational stories from DarynKagan.com which also pumped positive fuel into good news pipeline.

It was one of those stories that sparked One Step’s next campaign: the Live to Give campaign, based on a story of a woman whose life turned around by putting her attention on outreaching to people and giving something each day.

Today, One Step launched its new campaign effort in an email inviting employees to participate by performing one act of caring each day for a one month period of time, stating it was strictly on a voluntary basis.

The campaign promotes that employees can do this by giving something to another person (a gift) or doing something for another (like a pay-it-forward act of kindness). They can do this on a fellow co-worker, a client, a stranger in the street, their friend, a family member, or anyone.

Each staff member participating in the campaign can keep their own log of what they did (doesn’t have to be to whom they did it to necessarily). They can choose to share their deeds daily, weekly, at end of campaign, or not at all. The idea is to enable them to look back at things they did, if they so desire.

The company believes that the Live to Give campaign will put the focus on where it should be: outward instead of inward.

Almost every day news stories pop up about retailers using clever tactics to reinvent themselves in an effort to entice customers to shop in their store.

Anything from reduced prices to hefty discounts when purchasing more than one item to brand labeling to free stuff to really clever gimmicks is the new approach for retail today.

These value-oriented retailers is something we've been "tweeting" about on Twitter, and I'd like to highlight some of the clever ideas retailers have come up with:

• A triangle of success for retailers featured a reopening of a climbing area, heightening the value of the retail stores in that community. Story at: http://tinyurl.com/c6bgdv
• Barnes & Noble got innovative by entering the Blogosphere with Blogging Booksellers posting short video blog posts. Story at: http://tinyurl.com/cmfs4w
• Upscale men's retailers offering drinks in an effort to get men to linger and shop more. Story at: http://tinyurl.com/c8jajt
  
• Popeyes uses strategy of using real people in ads, highlighting the brand's personality. Story at: http://tinyurl.com/cextbv
• Office Depot applied its expanding "Try and Buy" concept to a full aisle for ACCO Brands' Wilson Jones binders. Story at: http://jijr.com/YAQ
• Kid apparel retailers stand out with Dress Up Kids campaigns. Story at: http://tinyurl.com/cv9tsh
• KMart launched a Twitter promotion offering free shipping on online orders with promo code only to Twitter users. Story at: http://tinyurl.com/cc9b5d
• A retailer's Webisodes introduce online instruction to customers for DIY projects. Story at: http://tinyurl.com/ccy67o
• Walmart's Great Value private label expansion signaled new trends in retail. Story at: http://tinyurl.com/c2ouoa
• Warehouse Express introduced ratings and reviews to offer customers detailed product experiences. Story at: http://tinyurl.com/dk52fr
  
• JoS A. Bank Clothiers gives money back if customer loses their job and lets them keep suit. Story at: http://tinyurl.com/czn4ve

There are so many ways a retailer can pump up their efforts to lure shoppers - holding parties, workshops, you name it. These were some that I came across within the past month.

I'd love to get comments about more ideas or what you've done to get more customers.

By Scott Kreisberg

Every retailer has a unique set of security challenges and, in the retail world, your security challenges never end.

More retailers are realizing that using perimeter and anti-virus technologies alone are not enough. As someone once said, it's like locking your doors but leaving your windows open. Now retailers must take a lot more security measures.

Some vital strategies retailers need to take for preventative measures against retail loss include:

• Security for your network
• Security against theft
• Protection of data
• Prevention of administrative errors

In today's competitive environment, a retailer's shrinkage performance can mean the difference between a good year and one that fails to meet expectations.

Recording what occurs in your store is also very important, whether it be before, during or after an event. Digital video surveillance and POS monitoring can deter common forms of employee theft, register theft and fraud.

Going on for some time now is "sweet-hearting," as it's known to retailers, which is when the cashier lets friends and family walk out with more than they paid for. It is quite common in the retail sector.

To prevent this, security software is necessary which uses a motion analysis algorithm designed to spot each instance when an employee may have bypassed the checkout price scanner with a grocery item, or passed a barcode-side-up over the infrared lens. It then checks with the store's point-of-sale system and cross-references time stamps to confirm the missed scan.

Read full article ...

Retailer runs every day operations of store using POS software

Store manager Soung Kim runs Sportech, a sports apparel and footwear retailer specializing in racquet tennis, talked about his experience using point of sale technology in the every day running of the store.

Sportech has been in business for 16 years and expanded its store from 2000 square feet to 5600 square feet, and plans to expand to more locations in future.

Kim stays in tune with the business side of things, keeping close track of the store's merchandise with Retail Pro POS software to avoid over and under purchasing. He follows what is coming in and says, "It really helps keep track of the business aspect of it, as it is a business."

Kim ensures that store employees are very helpful and actually give shoppers customer service. Developing and maintaining customer loyalty has kept their customers coming back. He frequently does a large mailing to them with coupons. Sometimes he teams up with doctors and local podiatrists to come in and do a clinic to help teach his customers different aspects of using proper footwear and apparel.

To know what his customers are purchasing, Kim checks the buying history of his customers in the POS software. He uses this information to motivate customers, who are pleased that they know them by name and what their history is.

Kim doesn't work alone however. Any time he needs to discuss a problem or technology issue, he relies on One Step Retail Solutions who provides technical support for him anytime of the day, even weekends.

Kim attributes a 10% growth in business to utilizing point of sale software. He uses it daily to easily manage all aspects of running the retail store operations, enabling him to stay on top of inventory and improving the customer's shopping experience.

Extraordinary People Give Back to Their Communities When It Matters Most

So much for all the "bad guys" stories you hear during these challenging economic times. Here are some great examples of small businesses that see this as the perfect time to do good.

There is a group of Americans who have done extraordinarily generous things. Call them Recession Angels, people who have taken their own money and given it to employees and their communities just as everybody else has been cutting back.

One retail owner gave bonuses instead of pink slips to give back and stimulate their small town's economy. Watch video

This retailer decided recently that the town of Brewton needed its own stimulus and that his 24 employees deserved a little something extra. So he doled out $16,000 in cash bonuses. He asked only that his workers donate 15 percent to a charity or somebody who was in worse shape than they were, and then take the rest and spend it at local businesses. To track the local impact of his "stimulus," Cottrell handed out the bonuses in $2 bills.

Full story: Recession Angels Rise to the Occasion

Compliments of One Step Retail Solutions

One Step Retail Solutions is producing a video series, "Smart Retail with Scott Kreisberg" that features retail stores in the Los Angeles area, with a look at how they run their retail business - their successes and their challenges.

The first ten episodes will be broadcast at YouTube.com and SmartRetail.tv. Stores initially featured start in quaint communities that include Montrose, Burbank, La Canada, Studio City, Sunland, and even a store in Hollywood. These are:

• Body Factory, Hollywood, CA
• Prinzess Kastle, Montrose, CA
• Slender Swee Shoppe, Montrose, CA
• Annie's Scandal, Montrose, CA
• Lara's Gifts, Montrose, CA
• Critters, Montrose, CA
• Classy Jewelers, Sunland, CA
• Jasmine's Salon & Spa, Burbank, CA
• Active Ride Shop, Burbank, CA
• Glitz, Burbank, CA
• Hoity Toity, Studio City, CA
• Adobe Design, La Canada, CA

Production is set to begin mid April 2009. Stay tuned for further updates on this blog!

A struggling café in St. Paul, MN turned around their business based strictly on kindness. Just two years ago the Q Café had relied on nearby businesses for their customers. But when business moved out, the Q Café went downhill.

A bright idea came to the owner’s wife Lisa to teach others to be kind and she began promoting kindness. Random acts of kindness soon became built into the café, now called The Q Kindness Cafe.

People came from all around the city to experience it. It goes to show that, for this café, it pays to be kind.

See video: http://tinyurl.com/czzy9o (there’s a commercial first)
Visit their website: www.qkindness.com

In a recent case study by One Step Retail Solutions on Pump Station in Santa Monica, CA, the store increased its sales 20% in the last three years. A second store opened up 3 years ago in Hollywood, CA, watching sales go up 83%. Two more stores are being planned to open up this year, 2009.

Pump Station COO Cheryl Petran attributes their growth and continued success to point of sale technology which allowed them to forecast sales and manage inventory better. With better financial planning and profit goals, Pump Station owners have been able to gain insight into what is going on in their business and use the reports to make the right decisions.

Ms. Petran feels they are out-pacing the economic downturn by forecasting smart and managing the inventory to her forecast. “Being proactive means forecasting, facing the reality of it and dealing with it,” said Cheryl Petran, COO of Pump Station.

“If you can really look at where you think you’re going to be and be realistic about it, then you can survive. I have a POS system with history that I can use for expansion. With our POS system we can quickly evaluate if our decisions were good or bad. I learned many years ago to manage your inventory smart and manage your vendors smart.”

Pump Station is continuing to expand their retail business, despite the changing economy.

Note: One Step Retail Solutions installed Retail Pro point of sale software, robust POS hardware, and hand-held scanners. The system is integrated with POS QuickBooks.

This morning's RIS News had this to report ( http://www.risnews.com/):

"Memorial Day kicks off summer, but so far this year retailers have not enjoyed much sun and fun. It's not just the economy that is driving store closures. Other factors include sky rocketing fuel prices, increasing costs of just about everything and consumers being squeezed by the falling housing market and layoffs.

So with all these big guys closing stores, what hope is there for the little guy? Is there any hope at all? Pretty frightening, huh?

THE GOOD NEWS

Well, the good news is that the little guy is not prone to the pressures of the big guys: leveraged real estate, huge employee insurance programs, stuck with inventory that is not moving. In other words, the little guy can be a lot more nimble and faster to respond to the market with a lot less to worry about.... That is, if the little guy has the systems in place to respond fast, track inventory right down to the proverbal gnat's a--, and has or can build personal relationships with his customers.

What does it take to do that? Look to your POS system to do all of the above and see if you are using this technology to its fullest extent. If you need help figuring out how to use it, contact one of our Retail Consultants and get a full Retail Tech Check to find out what your existing POS system can and can't do for you.

And work to flourish and prosper despite what the economy is or isn't doing!

To get your free Retail Tech Check, go to:
http://onestepretail.com/services/freebusinessanalysis.php

Or contact us at 800-266-1328 or email us.

Donna Wesley Rogers
One Step Retail Solutions

One Step Retail Solutions recently published a new whitepaper, “The 6 Biggest Challenges Retailers Face Today” exploring a number of demographic and economic trends that have made retailing in the U.S. more challenging.

With the changes in the current economy, the whitepaper identifies how to meet today’s retail challenges and demonstrates how small and mid-size retailers can create a sustainable, competitive advantage. It examines the potential benefits and applications of point of sale software to enhance store operations and its effect on the ability of any retail business to survive and even expand during times of economic downturn.

“Over the last year, while updating our research into the current retail environment it became evident that the constantly changing technology landscape, in and of itself, has now become an additional source of concern for retail owners and managers,” says CEO Scott Kreisberg. “We also determined that small to midsized chains, especially those who wish to continue their growth, face an even greater set of challenges than single stores or large retailers.”

One Step has a unique vantage point, in that it has helped many retail clients grow from one or a few stores to reach the 20 to 100+ store range. These retailers have survived and expanded over the years, even through several earlier downturns in retail spending. A small chain owner may think that those stores are in a different category, but in fact they had to deal with the same set of challenges that other small retailers face.

A key part of the reason these retailers survived resides in how they made use of their retail technology as a tool to overcome their business challenges, leading to a more efficient and competitive business operation while at the same time better serving their customers’ needs.

This new whitepaper is available at the One Step website: http://www.onestepretail.com/.

For more information on how a POS System can help you overcome these challenges and grow, contact us at 800-266-1328 or email us.