The continuing increased demand from customers for online and social media interactions means that technology is an essential area for all businesses to be competent in and can help improve your business. However, many retailers are unsure of where to start.
We have a number of projects and activities that can help retailers decide what to spend time and money on for the best return in investment.
How we help
Over the next two years, the NRA will be providing a digital advisory service to our members as a part of the Australian Government Small Business Digital Champions Project.
This trusted digital advisory service will showcase the journey of small businesses adopting new technology in their businesses, and provide advice and guidance on how to successfully adopt digital technologies in the retail sector.
To ensure that we can provide the most relevant information, we asked our members to complete a 15 minute online survey to help identify the digital capabilities and training needs of retail workers in businesses. Over 330 people responded to the survey and the results were compiled by the Queensland University of Technology (QUT). These findings will assist us in identifying gaps in existing digital training and skills programs, and will help employers to identify the best type of training and information for their employees. The full report can be viewed here, or a summary of the findings and key recommendations here.
For any further information about the Small Business Digital Champions Project, please click here.
The Australian Government funds the Australian Small Business Advisory Services (ASBAS) Digital Solutions program, which provides small business with low cost, high quality advice on a range of digital solutions to help them meet their business needs and grow their digital capabilities.
Eligible small businesses (for-profit organisations with 19 or fewer full-time equivalent employees) can receive up to 24 hours of subsidised business advice services focused on digital solutions.
Cost structures vary by region, but as an example:
• In Area 1 (NSW and ACT) one-one-consultations are $25 per hour, 2 hour workshops $20 (with some introductory workshops free) and webinars are free.
• In Area 2 (QLD, NT and WA) workshops and webinars are $18.41, one-on-one consultations are $22.
• In Area 3 (Victoria, Tasmania and South Australia) the cost is $55 for a one-off membership to access 2 hours of 1:1 mentoring, a range of workshops and access to an online learning platform.
If you would like more information, please visit the department’s ASBAS website. From there, businesses can click through to the ASBAS provider for their region.
https://www.employment.gov.au/australian-small-business-advisory-services-asbas-digital-solutions
Do you want to attract new customers and deliver a sensational customer experience?
The use of technology in retail can help improve your business. The hard part is knowing where to start.
This workshop will give you and your team practical advice and the digital skills to help grow your business. Plus, you will leave the workshop armed with your own ready-to-go digital action plan.
You’ll discover:
• Current digital trends and how they impact your business
• How to use data for better business decision making
• Tips for using online analytic tools to track your business performance
• How to improve your online presence and customer experience
If you would like to discuss a Digital Workshop for your business, contact NRA Trainer, Suzi Glover.
Feedback from Grand Plaza, Browns Plains.
Thank you again for organising the workshop – it was great.
The digital, most specifically the social media platforms, have become a vital part of any business however can also be a very daunting and overwhelming task. The NRA digital workshop assisted our retailers to better understand where to start and how to take ownership of their own social media platforms to drive brand awareness and interest. We received fantastic anecdotal feedback from retailers who attended and would love to attend again given the opportunity.
Thanks.
Helena Racic
Marketing Manager
Vicinity Centres
Retail data analysis is a check of everything in your business from your sales and inventory to your customer data. Examining data can help you to identify areas of strength in your business and areas for opportunity. To help retailers understand more about what data we should be looking for, we have developed five, free, online video seminars that can be accessed from our website at any time. Each seminar offers information on a different topic and runs for about 8-10 minutes.
SEMINAR ONE: Internal Analysis
This seminar discusses the types of data we should be capturing in our businesses and how to do this. It includes:
– The type of financial data to look for
– What customer data is useful to track
– Employee satisfaction and key indicators
– Inventory analysis and what retail managers should be looking for
– Audit and compliance data that should be examined
SEMINAR TWO: Promotions Management
Promotions Management discusses different promotional techniques and the types of data we should track to measure the success of your strategies. It includes:
– The need for a variety of strategies
– Multiple approaches you can use including exclusivity, scarcity, flash sales, mystery discounts, and purchase based discounts
– The metrics retailers should be capturing from these strategies to measure their success
Loyalty discusses different types of loyalty programs and which is best for your business. It includes:
– The differences between rewards and incentives
– Different types of schemes
– Why it is important to capture data
– What data you should be capturing and analysing
– How this data can help your business.
Inventory discusses the importance of analysing your inventory and how to do this. It includes:
– The risks of holding too much inventory or too little
– The link between sales prediction and inventory
– Ways to predict sales
– Ways to analysis your inventory
– What you should do post analysis
This seminar discusses the importance of understanding your customer base and how to better segment your audiences: It includes:
– Segmenting your market using customer data;
– Understanding customer buying capacity, preference and habits;
– Where to find data on your local area; and
– Understanding customers unmet needs.
Our Partners SMB work closely with retail and hospitality businesses and can provide recommendations for changes and improvements.
Here’s what some business are saying were the main take a ways from their consultation with SMB.
- It helped me to narrow down the software which would best suit our business.
- We did not have to run around to each supplier of each technology to get specifics.
- It really highlighted the need to simplify our data processes and the need to strengthen our POS.
- It helped us to streamlining all processes.
- It gave us the next logical step in the growth of our business.
- SMB told us about Technology that will allow for future growth with the addition of other possible platforms.
- It was great to get an unbiased expert opinion on a range of systems we had been considering and determine the one that will best suit our needs now and as we grow.
- Comfortable and informative information for access to new data and technology.
- It was a good ‘eye opener’ on modern day business and the ability to streamline software to meet online company requirements.
- There are options out there I was not aware of. It’s always interesting to see where the online space is heading, making you think about the direction and long term success of your own business.
- It makes you re-examine your own business and break it down again, something you don’t often stop and do.
You can find out more about SMB here.
If you would like more information on what SMB can do for you, please complete the following Expression of Interest and we will be in touch.
Technology in Retail Expression of Interest - Data Analytics
