Basket analysis is the analysis of products purchased by transaction – shopping basket. Such analysis typically compares two trading periods overall and by day of week. It also includes this analysis by supplier comparing trading periods and day of week.
Basket analysis shows you the efficiency of product categories (departments). For example, see how many baskets include one category of item and nothing else. You can also see the numbers of times sales are single item sales.
Basket analysis underscores the value to the business of newer categories such as gifts and toys.
Basket analysis at a supplier level is equally insightful, allowing you to compare the basket efficiency and value of suppliers between two tradition periods as well as across each day of the week between two trading periods.
It is at the basket analysis level that you can determine product efficiency. A product is more efficient for you if it is purchased with other items in our view. You can drive this by careful placement on the shop floor, promotion at the sales counter and working with customers on the shop floor to guide their purchases.
It’s an example of how you can use comprehensive business data to drive your in-store actions. For example, knowing what we know about pop vinyls, Saturday is the day we really focus on them with secondary locations to do even better from the Saturday opportunity.
Basket analysis can also help you with rostering. With some category sales requiring more staff time that others, you can consider the product mix sold by day and adjust your roster accordingly. Trimming wages is an important cost saving focus in business.
The goal has to be deeper baskets (more items per transaction) and a greater spread across product categories – but with a focus on higher margin items so that also lift the overall GP performance of the business.
In the Tower Systems software the report to use for this analysis is the Basket Analysis Report. It provides an extraordinary insight into baskets.
Gift shops are unique businesses. They offer a carefully selected range of products, supported with personal service and displayed in a locally appropriate way. Gift shop owners take pride in being different, offering an experience unique compared to department stores and national groups.
It is these local gift shops offering personally selected products for local shoppers on which Tower Systems focuses its services in the gift shop management space.
The Tower gift shop software has been developed specifically for locally owned gift shops. It is specialist software, packed with tools aimed to serve unique needs of these specialist retail businesses.
It is this commitment to specialisation that helps Tower Systems to be in such a strong position with gift shops, serving hundreds of businesses in this specialist retail space. These retailers help us further develop the software to provide even deeper connections with the specialist requirements of gift and homewares businesses.
In addition to providing excellent gift shop software, Tower Systems also provides sound advice to help gift and homewares retailers improve the in-store experience.
One example of gift software management advice is this advice on shop floor product rotation:
- Rotate gifts at least fortnightly. By rotate, we mean major change, so the gift department and every gift display looks completely fresh.
- Each placement / display ought to tell a story. By this, we mean it ought to appeal to the same shopper. There is no point in putting gifts mixed in with gifts for guys.
- Follow a treasure hunt principle: place displays to encourage people further into your shop. Displays themselves should present surprise to shoppers. Do not place gifts in a line on shelves. Be creative with displays that are visually enticing.
- The more targeted each display the better chance it will work.
- On a daily basis, through a structured (rostered) plan, clean gifts and shelves. Dust blocks sales.
- At least weekly, call out a gift on Facebook with a carefully written post about why the gift is useful.
- Be disciplined about quitting gifts that are not working for you. The longer you carry an underperforming item in your business the more its costs you.
- Manage your gift displays to drive traffic, not to leech off existing traffic.
Retailers using the Tower Systems specialist gift shop POS software have the ability to print a gift exchange receipt detailing the items purchased but not the price paid.
This facility has been in our software for years. It was developed with retailers offering gift exchange services. The receipt printed was recently enhanced to connect with quality gift purchases.
This gift / exchange receipt facility is another point of difference for Tower in several of our retail channels it is am important pert of the Tower AdvantageTM.
Years ago Tower Systems developed a good relationship with the folks behind the respected and highly sought after Maxwell and Williams brand. Thanks to this work we offered homewares retailers using our homewares software the ability to import stock files and invoices. Other benefits flow from this work. We help homewares retailer to save time managing their engagement with the Maxwell and Williams brand.
Supporting the respected Maxwell and Williams brand is part of the assistance we provide here at Tower Systems to homewares stores using our software.
Special orders, LayBy, gift packs, seasonal offers, catalogue pricing, movement of stock between stores, serial number tracking and a host of other facilities service the needs of engaged homewares retailers.
Gift and homewares retailers using the Point of Sale software from Tower Systems are able to locate product boxes easily thanks to facilities embedded in the software. This ease of box location improves the speed of handling the transaction, reduces stress for staff and provides shoppers with a better experience. The result is a better outcome all round.
The software makes it easy for recording information against an item that some software does not record. Tower has built in flexibility from use of its software in its own businesses and thanks to engaged customers providing helpful feedback.
It’s the small things that make for good POS software.
The Tower Systems Point of Sale software offers retailers with wholesaling facilities the ability to track locations of inventory and thereby enable easy picking of goods for shipment. Doing this in several different types of businesses has provided us with experiences that have informed development of flexibility in the software.
From picking slips to location data, the Tower software reaches way beyond what is traditional for POS software.
While first and foremost a Point of Sale software solution, warehousing facilities enable the software to be useful in more diverse situations and this is what flexible retail / wholesale businesses like.
In the retail homewares space many products are one-off. That is, once they sell a retailer does not replace exactly them otherwise their shop can feel more like mass when being unique reply matters. This is where smart POS software is useful in tracking sales at the product category level.
Knowing that, for example, two $75 value homewares objets d’art sold is more useful to the buyer for the business than the specific items as these items will not be exactly replaced.
Using the Tower software, homewares, gift and garden centre retailers are bale to track product sales in a range of useful ways that can make inventory replenishment easier. Being able to slice the data for alternative performance reviews can help guide business decisions in a more meaningful way.
Tower Systems works with many retailers on the best approach to tracking stock performance.
From better stock management to flexible shopper loyalty engagement to staff tracking and motivation, the Tower software helps homewares create more valuable and efficient businesses.
The focus at Tower Systems is on small and independent retailers, local high street and regional and rural businesses where retailers are able to make their mark by offering unique products backed by excellent customer service – as facilitated by our software.
Our help for homewares retailers is enhanced by some excellent supplier relationships.
Tower Systems is excited and ready for Gift HQ – the Brisbane Gift Fair that starts tomorrow morning. We have a wonderful stand with new software and plenty of business-building opportunities for gift and homewares retailers.
We are thrilled to announce that Tower Systems has been accepted into the Gift Fair in Christchurch New Zealand next month.
On our stand we will be showing the very latest release of our gift shop software. This will be software that is only in beta release by the time of the fair. Yes, it is very new.
We are excited for the opportunity to reach out to New Zealand gift and homewares shops, their suppliers and others who will travel to Christchurch for this terrific trade show.
With many customers already using our POS software in New Zealand in the jeweller, bike retail and gift shop channels, we look forward to catching up with plenty of customers and welcoming new friends to our New Zealand community.
The Tower Systems gift shop software pitch is simple: software designed specifically for gift shops with hardware with on site installation with on site training and with one year of live 24/7 support: $8 a day.
This solution from Tower Systems gets better with time too as the software is regularly updated – enhanced based on suggestions from customers.
With hundreds of gift shops using our gift shop software we have an excellent community of businesses from which to draw ideas and inspiration to help maintain our position as loved and respected gift shop software.
The $8 a day offer is available now and is exclusive to Tower Systems.
The Tower Systems gift shop software will be on show at the Reed Melbourne Gift Fair is a few weeks. This will be our first trade show for the year – our new gift shop software will be on show.
Promoted in the program for the fair published late in 2013 by Reed, Tower Systems is making a prominent statement about smart technology for gift shop management.
Helping gift retailers with electronic invoicing, electronic ordering, stock control, theft reduction, staff training, efficient selling and overall retail business management, the tower gift shop software will be a feature of the Reed Gift Fair for retailers keep to drive business efficiency and performance.
An additional benefit of this fair for us will be extending connections with gift shop suppliers.
We will be on stand K107.
We met up recently with a retailer using our gift shop software at a gift fair trade show and were thrilled to see them using our software at the fair to guide their buying. By having access to live sales data for a supplier when on their stand at the trade fair, this retailer was able to make decisions based on facts rather than emotion as is usually the case with trade show buying.
Retailers using our POS software can go to trade fairs with reports to guide buying or they can use their iPad or other tablet device to connect to the business live to produce reports. Either way, using real data to guide decisions is better for the business than relying on sales hype that is so prevalent on the trade show floor.
We encourage our customers to plan for trade shows so that their buying is fact based. Such decisions are more likely to be more beneficial for the business. Our software offers many tools to help make the trade show experience work better for the business.
A new breed of gift shop owner is using shopper basket data to make savvy business decisions. These business operators are running growth businesses – focused on business outcome success. Typically, they are retail professionals running their businesses based n a well-considered business plan.
Whereas in the past many gift shop owners ran their businesses on a whim, today’s real success stories are businesses operating on principles of professional retailing.
Tower Systems is privileged to be working with several groups of such gift shop and homewares retailers, providing input on business plans, showing how our gift shop POS software can shine a light on business activity and unlocking other ideas for business improvement.
Working with such proactive retailers helps the Tower business and its software as much as it helps our customers. We are grateful for the openness at the core of these opportunities.
Thanks to a broad range of gift shops using the Tower software we are gaining experience from small, medium and large professional gift and homewares shop operations through this business development work.
Accurately selling inventory items without a barcode is easy with the Tower Systems Point of Sale software. A good example of where this is important is in the selling of single sheets of coloured paper and cardboard in newsagencies, stationery shops and craft shops.
While a retailer could put a barcode on the sheets, the adhesive could damage the product. So, being able to sell the items without a barcode is important.
Using the Tower Point of Sale software, retailers can easily sell items without a barcode thanks to clever touch screen setup. They can sell to whatever level they want including, in the case of cardboard, brand,colour, size and the like. This flexibility is very important for craft shops that want deep level stock control in their business. It speaks to the wonderful flexibility in the software.
Retailers of all types use the flexibility in the POS screen for selling items that cannot have a barcode for one reason or another.
We are thrilled to be partnering with gift shops that are growing – against the retail trends so often claimed on in the news. We have plenty of gift shop customers, using our gift shop software, who are expanding their businesses including opening new shops. Owners tell us that our gift shop software is part of the reason for their growth and expansion.
Using our latest gift shop software, retailers can expect to reduce the time spent managing their business, to make better quality business decisions, to encourage customers back more often and to see employees helping drive business success.
The proof of the accuracy of our sales pitch is in the growth we are seeing among retailers using our software. Their success is our success and we’re thrilled to see it.
Part of our success in the gift shop software space comes from the enhancements we continue to make to the software. Many of these are from suggestions from customers. Anything we can do to help make our software more valuable to our customers is good business for us.
So, in the face of media reports that retail is tough, there are good stories out there – if only journalists would chase them down and share them with the world.
Tower Systems has launched a series of round table confidential business performance discussion opportunities for retailers using its gift shop software. bringing together gift sop owners from various situations, these confidential sessions will encourage business discussion, sharing of insights and exploring of business growth opportunities.
The Tower role is to share business data and help the business owners make sense of this data in the context of their own situation. We will also provide the facilities including catering.
These free interactive face-to-face sessions are designed to help engaged gift shop owners to look at their businesses differently, in pursuit of greater success for the businesses. They are another way Tower Systems is adding value of the gift shop marketplace – helping gift shop owners and their suppliers to build stronger and more valuable businesses.
We are grateful to be in a position that enables us to fund this service for the channel.
Homewares retailers using our Point of Sale software for homewares shops are using the software to drive sales this Christmas season. By engaging with our email, text, receipt and point of purchase marketing opportunities they are able to generate more business from existing shoppers and to help these shoppers bring more traffic in-store.
Our Homewares POS software users are also harvesting excellent customer data through the Christmas season, data they will leverage through 2013 for additional revenue.
By curating valuable business data using our POS software, retailers are able to identify and pursue business growth opportunities. This in itself is a good reason for homewares retailers to use smart Point of Sale software to run their business … it’s more valuable than a generic software package.
The areas of our software homewares business owners and managers particularly appreciate are:
Catalogues … the ability to discount items between a date range as well as the ability to structure buy X and get Y and other catalogue type deals.
Hampers … the ability to package a number of items and or services together to create a new hamper or package deal item. This is especially useful at seasonal times. Hommewares store owners like that they can package up items and then break the package down if necessary.
Reorder control … with considerable capital invested in floor stock and many homewares suppliers offering a Just In Time supply chain, through our Homewares Software, homewares retailers are able to reduce their stock investment without reducing sales.
Customer Loyalty … rewarding customers for spending an above average amount in a set period enables homewares retailers to thank these high-value customers. the flow on is good word of mouth for the business and more traffic.
Community connection … thanks to clever local marketing engagement opportunities, homewares retailer are able to support local community groups and thereby show strong community support credentials.
Gift cards … with professional designed and manufactured gift cards, our homewares retail customers are able to sell a gift when the shopper cannot find exactly what they are looking for. Our in-house design service delivers access to gift cards which really set our customers apart.
In these and other areas, Tower Systems homewares retailers are accessing tremendous benefits and leveraging measurable growth.
Tower Systems is into its third year as a preferred supplier for members of Australian Gift and Homewares Association. AGHA members can access our terrific gift shop management software at a special AGHA member price. They can also tap into specialist support services and business performance analysis services … plus access invoice and catalogue data from a range of suppliers.
Thanks to our relationship with the AGHA, gift shop owners benefit from our regular participation in trade shows and other AGHA industry events. This demonstrates support for the retail channel and provides us with excellent networking and learning opportunities – both of which are vital to developing better software.
To access the special pricing available to AGHA members, please contact a local Tower Systems sales person.
For this fair we have created fresh collateral, specifically for a one-off use over the next four days starting tomorrow.
The photo shows the stand from this afternoon – others around us were still building their stands.
retailers selling gift and homewares products will easily see us as we merchandise retail management software in a unique way … in keeping with the professional merchandising we often see go gift and homewares stores.
Tower Systems is thrilled to be featuring at the Home & Giving Fair in Melbourne again this year. As the software partner of the AGHA, the gift and homewares association, and a long-term support of this important gift and homewares trade show, we are excited for this weekend in Melbourne.
Starting tomorrow, we will have our very latest software solutions for gift and homewares retailers on show on our stand at the Home & Giving Fair. We will also be showing off our new collateral and a range of other benefits and features for these businesses. Plus, we will have one of our technical experts on the stand to provide fresh personal technical advice to any existing customer who stops by our stand.
From managing stock to connecting with suppliers to competing with online businesses to motivating employees … we have solutions for gift and homewares retailers which are well established and have been proven to be successful.
What we are looking forward to the most is the great retail stories. Trade shows like this are always full of good stories from retailers and retail employees who are having a great time. The stories fly in the face of negative stories about retail which media outlets tend to report. There is no doubt that a highlight for us of the Home & Giving Fair will be success stories we hear from our customers and from sales prospects.
Starting tomorrow on our stand we will be busy – we’re excited and grateful for the opportunity.
Our in-house creative team has been working on a complete replacement of the marketing collateral used to promote our software in trade journals, brochures and at trade shows. The first airing of the new collateral will come in Gift and Homewares industry publication Giftrap with this advertisement.
This ad is a tease of a broader collateral package representing our retail management software. We are using colours and visual themes which are very current for the age range we are targeting with our marketing.
Too often software companies create advertising which looks like word art from twenty years ago. Our in-house team is showing off their skill by professional representing Tower in a fresh, visual accessible and creative way … like our software.
Homewares retailers using our Point of Sale software are reporting strong year on year retail sales growth. While the media reports retail doom and gloom, we are hearing of retail sales growth from many small business retailers.
Homewares retailers are reporting particularly good numbers. This has been put down to continued strong interest in home cooking and entertaining as a result of a slew of popular television programs.
From the businesses we speak with and the data we see, success in homewares retailing is a result of good business management decisions based on accurate business data.
Businesses which struggle are more likely to be businesses where stock is ordered manually, customers are not rewarded and employee performance is not tracked. Our homewares software does these things and plenty more as it helps homewares businesses drive business growth on a range of fronts.
Collectors are important to homewares shops. But not your traditional collectors. No, these are people who purchase pieces to a dinner set, a cutlery set or some other home ware or home furnishing set over time as they complete the look in their home.
Thanks to the customer management, loyalty marketing and other terrific tools in our homewares management software, homewares retailers are bale to make the most of the collector opportunity.
In our work with homewares retailers we are able to provide not only excellent business management software but also smart retailing experience and knowledge on how to make the most of the opportunity for retailers in this space.
Local homewares businesses are able to beat major national retailers if they embrace the collector opportunity professionally on then shop floor and back this up with good business management practices … that is where our Point of Sale software kicks in, delivering good tools for retailers.
We serve homewares retailers from small businesses through to larger multi-store operations covering a range of communities.
Our success in this specialist retail niche comes from our embracing not only of the retail niche but also of its suppliers, working with them and sharing with them in a way that benefits the retailers and from them on to the shoppers.
This is good software development and raining in play, serving our customers so that they can serve their customers.
Tower Systems is an Australian software company serving in excess of 2,500 small and independent retailers in Australia, New Zealand, Fiji, Papua New Guinea The Cook Islands and several other countries. The company also operates several retail businesses, providing it with personal and practical retail experience through which it can better understand the needs of its customers.