10 Questions to Consider when Investing in a Retail POS System

We love guest posts. Please send educational info for our retail members to us at info@boardretailers.org. This guest post features Jason Sproles, President of Support One – a Denver based retail software and support company, who was presented with 10 questions on how a Retail POS system can benefit a small business.  Whether you’re a small retailer with just one or two stores or a retail chain, there is concern regarding profitability in today’s economy. Although passion drives your business, technological obstacles may get in the way of true success. With so many advances in technology, thinking about implementing anything new into your store can be overwhelming. Jason Sproles, President of Support One, a Denver based retail software and support company who specializes in small to medium size retailers was asked at NRF 2014 to answer the most frequently asked questions for making a decision of investing in a Retail POS system. Sproles hopes these answers can provide peace of mind with your search and details of how beneficial a new retail management system can be. 1) What is the approximate cost of a Retail POS system? ANSWER  “It really depends on the retailer and their needs. Basic POS software will cost between $1,200-$2,500 per license or terminal. But if you’re looking to invest in a full Retail Management suite, like iVend Retail, then your numbers will be much higher. With the added costs of additional modules such as rentals, service and loyalty; as well as the extra cost of hardware, implementation and training a ballpark figure would be $7,000 and up for the 1st workstation. Annual upgrades and support contracts should also...

How to Put Your POS to Work

POS Features and Integration Study Article#1 – Marketing How To Put your POS to Work By: One Step Retail Solutions www.onestepretail.com We surveyed the action sports industry and found that 48% had either no system for customer management or have not put their existing system to use. A few years ago we surveyed our retail clients and asked them what their plans were to market to their existing customers for the holidays. We were shocked to find that almost 40% had no plans to do special holiday marketing to their existing customers and 64% had no customer loyalty program of any kind. Almost 60% said they had no idea how to market to their customers using their POS system. This was something that we set about rectifying quickly for our clients and we want to share our tips for success with you. Your investment in your existing POS system can only show a return if you learn and utilize the things it can do for you. So we ask, what tools do you ALREADY have in place that can help you effectively market? One Step Retail Solutions, VP Sales, Kevin McAdam has some tips and information for retailers everywhere. “Of all the retailers I have talked to over the last couple of years, ignoring the marketing potential of your customer base is among the most dangerous decision you can make in your retail business. Capturing it and leveraging it is among the best.’ “Many retailers I talk to do virtually zero marketing because it’s so expensive and because they see so little measurable return from it. That’s often because...

POS Survey Results

Together with our Associate Partner One Step Retail Solutions, we recently conducted a survey to see how many of you use Point of Sale (POS) and other retail service solutions, how you use them and what more you’d like from the software. Here are the survey results. Amy Hanson from One Step Retail Solutions will be responding with a series of articles stemming from your feedback. The first one will be posted tomorrow. Q1. What retail solutions do you currently have in place? POS – %96 Inventory control – %82 Security – %57 CRM – %32 Q2. If you have a POS system, do you feel like you use it mainly as a register? Yes – %7 No – %92.6 Q3. What is your opinion on the ROI of retail solutions like these? Excellent –  68% Fair – 24% Negative – 8% Comments: From a straight sales perspective, very good and inventory management is good Very high ROI Ludicrous to be in the retail business without a POS, ROI is immediate It is very important to have  a GOOD POS system Totally worth it and absolutely necessary Hard to measure in actual numbers, but it’s clearly a necessary part of retail in 2012 very good You’re an idiot if you don’t invest Ours has been very good Very useful NECESSARY Very worth it Priceless! We feel like it paid for itself in the first year. worth it Very useful, you get immediate information on what’s selling so you can replace faster Beneficial if used consistently and correctly They are a good way to help analyze inventory and sales, but...

Happy Holidays from Board Retailers Association

To all our industry friends and family, Thank you for supporting the Board Retailers Association cause. Because of you we are a stronger voice, and can continue to bring independent action sports retailers the education, technology and the platform to stand on to address industry challenges as a whole. We wish you a busy and successful holiday season with lots of cash register (or POS) bells a-ringin’! Thank you again for all that you do, The Board Retailers Staff *The BRA offices will be closed the last week of December. Happy...

New Retail Trade Magazine Action Sports Merchandising Targets Action Sports Retailers

BROOMFIELD, Colo.—The business source for snow, skate and surf retailers, Action Sports Merchandising magazine’s first issue launches November. This business-to-business trade publication will mail to shops nationally with a focus on supporting independent specialty stores in the snow, skate and surf markets. Every month, shop owners and managers can expect to read articles with tangible take-away information centered on merchandising, business management, sales, marketing and other relevant strategies for success. Action Sports Merchandising will additionally feature industry news, product trends and releases, shop profiles and other content that relates directly to retailers. Timely coverage will offer insight into what’s on snow, skate and surf retailers’ radar at the moment and into the future. A cross section of contributing writers lending their voice to the magazine come from throughout the industry, including reps, brands, shop owners and managers, along with retail business consultants, marketing and social media professionals, merchandising specialists, reputable writers and others. “The recent recession has not been kind to anyone in business, least of all the independent retailer. Action Sports Merchandising’s sole purpose is to support these entrepreneurs in all their endeavors,” reports Jay Driscoll, publisher. Parent company, National Business Media has been publishing business-to-business magazines in various trades for more than 26 years. Visit www.asm-mag.com for more information and a free print or digital...

Leisure Trends Group Releases October Topline Snow Sales Report

Leisure Trends Group (LTG) has released snow sports sales data from August through October 2010. In the report, snow sales appear to be off to the strongest start of the season in over 10 years with nearly $522 million, a 1% increase over last year. On an even more positive note, retailers have indicated that there is far less carry-over products this season than the previous two, meaning far less sales items to drive down revenue. Specialty stores, who are dependent upon product innovations and technological developments will benefit from a lean industry going further into the snow season. The weather seems to be cooperating as well, indicating that the retail sector, long over-due for a productive sales season on the snow side, may just get their holiday wish. To read more about LTG’s report, please visit...