Smart Tips for Smart Retailer

January 19th, 2010

Dear Retailer,

Can you relate to any of these statements?

  • You’ve set up a Retail Software but still don’t “get” what it should do for you.
  • You’re amazed with fellow retailer’s activities and customer traffic.
  • You can see the value by exploring possibilities in a Retail Software, but simply don’t have the time.
  • You know you should set up a Central Control Mechanism, but do not know how to proceed.
  • You keep hearing about POS Software that do wonders but think it’s time consuming and are not clear of objectives.
  • You know there are numerous unspoken functionalities and analysis possible with a Retail Software.

I’m satisfied that you’re aware of these facts.

But have you figured out how you can increase your profits and maximize control in just 10 days with FusionRetail?

If your answer is NO, then I’m glad that you’re reading this, as I am about discuss some of the profit making tips.

The difference is in the strategic implementation plan.

Some vendors will say you just install the software and you do not need to train your operators, or profits will increase automatically or cost-saving…
In other words “Miracles will happen the moment software is plugged”

But, in our Implementation Method, we go much deeper to uncover the secrets:

  • How much stock you have at cost price and selling price?
  • How much you need to pay to supplier in coming week?
  • How well your funds are utilized?
  • What is the gross margin your store is operating?
  • What is selling and what is not?
  • What kind of merchandize mix is right for you?
  • What customer wants and are they loyal to you?
  • What is your stock holding cost?

In our Implementation Program, we suggest you

  • How to develop your own business-centric model.
  • How to set up and implement reliable systems for managing your business.

You’ll also discover

  • How to sell more of your products.
  • How to rotate your funds.
  • How to manage the stock of 10000+ sku.
  • How to manage sales staff.
  • How to keey your customers happy.

FusionRetail, a comprehensive & flexible retail software, helps you:

  • Increase your number of customers
  • Increase the size of the transaction per customer
  • Increase the number of sales per customer
  • Decide on correct merchandising mix
  • Know your profitability
  • Reduce manpower cost
  • Reduce the erroneous data entry

You’ll also implement:

  • A complete integrated system for maximum profitability.
  • The ONE action you must take daily to monitor the entire show.
  • Ten reports that gives you in-out of business.
  • Smartest retail techniques used by retailers world-wide, to build your personal brand.

Email us for a NO OBLIGATION proposal

Speak to our Experts for a personalized solution

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Ver. 5.0 Rel. 215.112 Dated 29-Dec-2009

December 29th, 2009

Enhancements

  1. Configuration > Database Maintenance – Update Item Property Optimized

Issues Resolved

  1. Restaurant report was not refreshing > rectified
  2. Database Maintaince – “Sale – Acc”: Calculation for RO Amt > rectified
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Service Marketing in Retail

December 1st, 2009

Similar to Relationship Marketing, another curcial aspect in Retailing is Service Marketing.

Services marketing is marketing based on relationship and value and is used to market a service. Marketing a service-base business is different from marketing a goods-base business. There are several major differences, including:

  1. Lack of Ownership
  2. The buyer purchases are intangible
  3. The service may be based on the reputation of a single person
  4. It’s more difficult to compare the quality of similar services
  5. The buyer cannot return the service

Common services offered by Retailers

  1. Gift Wrapping
  2. Home Deliveries
  3. Free Installation
  4. Free Alteration
  5. Including Batteries in electronic items
  6. Customer friendly Returns and Exchange policies
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Ver. 5.0 Rel. 215.111 Dated 21-Nov-2009

November 21st, 2009

Enhancement

  1. Laybye reports (overdue / outstanding) revised.
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Relationship Marketing

November 16th, 2009

“When dealing with people, remember you are not dealing with creatures of logic, but creatures of emotion.”

When we discuss relationship marketing in retail we land up discussing Customer Relationship Management. Anything and everything  that one can do to fulfil his/her customer’s needs. From individual loyalty programs to corporate loyalty programs and from frequent shoper to best customer, the needles of the clock revolves around the customer only.

But in retailing, relationship marketing is not all about CRM. If we don’t count on following two entities, we’re doing injustice to them. They’re
1. Trade Creditors (Supplier or Vendor)
2. Staff (Sales Person and Back-office)

The above two are equally important in building the foundation and ensuring successful running of your establishment.

Like CRM, your store must run a loyalty program for vendors and staffs. It could be like Best Supplier or Staff of the month.
Do not forget to include your vendor’s staff as they’re the link between you and your vendor. And do remember to add your back-office staff (managers, pakcers and delivery boys) as they’re back-stage artist and without their efforts the show will not run.

To begin, create a wish list box and encourage your staff and vendors to drop their comments and suggestions to help you improve on customer service and build reputation for store.

Remember, you’re not selling Products and Services, you’re selling Goodwill

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How to increase average bill value per customer?

November 9th, 2009

Retailing is the selling of goods and services to the ultimate consumers, in the quantities they require and from places most convenient to them. Retail trades of the smallest scale—like selling of matchsticks, have entry barriers that are almost nil.

The modern consumer has got so much choice, that it is hard to lure customers to your shop. A good retailer will try to sell as much as possible to the select number of customers who have chosen to step into his store.

This is possible when a shop keeps a wide range of products that cater to different requirements of his customer. For example: any consumer has a tendency to buy only one or two toys/games at a time. Thus, in a toy shop, the bill value of any customer will be limited to the price of the games bought.

Now, if he starts keeping books and stationary along with toys, this customer will be tempted to fulfill his requirement of books and stationary from the same shop, instead of going to another shop. This results in more sales per customer, and increased profit.

While increasing the range of items at one’s shop, it is always wise to target a particular class of consumer and fulfill its requirements. Target consumers may be children, teenagers, homemakers, men, lower, middle and higher income groups.

At the same time, a toy shop housing all toys from the smallest to the highest range, may achieve good brand image, customer footfall and profits, but its average bill value per customer would not increase.

A well stocked shop is very attractive to the consumer. But it has its pitfalls. If the goods are not arranged in a logical and attractive manner, the consumer may get overwhelmed and confused. Better shop displays reduce the decision making time by the customer, leading to easy and quick purchase. The salesman’s understanding of the requirements of each individual customer plays a crucial role in increasing sales. Good shopping experience enables the customer to linger more, and buy more.

A smart shop owner will develop a product-mix for his target consumer that is a combination of high and low margin items. This will help him increase sales without compromising on his bottomline. The customers, on the other hand, happily buy more, without feeling the pinch!

Promotional offers that club two or more items together are a great way to increase average sales.

  • Buy two, get one free.
  • Buy one and get 40% off on the other.
  • Buy a combination of four items at a discounted price.

All these offers tempt the buyer to purchase more than his requirements and ultimately fork out more money at the billing counter!

Which of these strategies do you plan to apply next?

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Ver. 5.0 Rel. 215.110 Dated 31-Oct-2009

October 31st, 2009

Issues Resolved

  1. Reference name was not coming in Debit Note > rectified
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FusionRetail is listed on Intel® Business Exchange Software and Partner Directory

October 29th, 2009

FusionRetail, the most admired retail software by thousands of Retailers and Restaurateurs is now listed in the Intel® (Intel® BX) Business Exchange Software and Partner Directory.

Intel® Business Exchange is the online destination where small and medium businesses can find innovative business solutions featuring Intel technology and software applications from Intel® Software Partner Program members.

Rance Computer Pvt Ltd is recognized as a certified member of the Intel Software Partner Program.

rancelab_intel_isv

Display of the above badge demonstrates that our solutions has been certified to meet rigorous industry standards and is optimized on Intel® technology.

RanceLab is known for providing world-class solution that meets international standards. FusionRetail has over 1500+ installations with 7500+ user base spread across India, Botswana, South Africa, Dubai, USA, Uganda and Kenya.

We believe in providing quality services, a fact which is borne out by our ever increasing customer list

Note: Intel and the Intel logo are trademarks of Intel Corporation or its subsidiaries in the United States and other countries.

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FusionRetail Blog on Mobile

October 21st, 2009

Over the past few years, mobile market has grown rapidly and the users have seen tremendous changes. Many bloggers are subscribing to and reading blogs using their mobile devices.

FusionRetail Blog is a popular blog amongst Retailers and Restauranterus. Honouring their readability and keeping in mind the usage flexibility, FusionRetail Blog is now available on your mobile.

A couple of our readers have their own blog. Following are the tips for them to mobilize a blog.

  1. Use a blogging platform that has mobile support built in.
  2. Use a plugin to create a mobile version of a self hosted WordPress blog.
  3. Use a service that creates a mobile site from your RSS feed.
  4. Use a transcoding service to reformat your blog (or any site) to be more mobile friendly.

Infact, there is a fifth way. Have the best-man do it for you who mobile-ize our blog

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RanceLab wishes you all a very happy Diwali

October 15th, 2009

May the festival of lights be the harbinger of joy and prosperity.

Wishing You & Your Family Members Best wishes on Diwali and New year.

RanceLab
sales@rancelab.com
support@rancelab.com

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