New Point of Sale Requirements

Here is some information that retailers need to be aware of, if you're not already:

Effective January 1, 2007, a State law requires operators of electronic point-of-sale systems (i.e., "scanners") to ensure that the price of each item paid by any consumer be conspicuously displayed to the consumer at the time the system interprets the price. These requirements were established in Assembly Bill (AB) 2732 with amendments in AB 2285.

If your customers can currently read the price of each item and all required information is visibly displayed, no further action is needed. If price and discount information is only visible to the sales clerk, you will need to install equipment providing a display to the customer.

For more information, call One Step Data at (800) 266-1328 or email us.

Gift Cards Are Changing Retail

In a NRF news release...

Consumers put their gift cards to good use in January, snapping up discounted winter apparel and new spring merchandise at clothing stores, department stores, and personal care stores. According to the National Retail Federation (NRF), retail industry sales for January (which exclude automobiles, gas stations, and restaurants) rose 5.3 percent unadjusted over last year and 0.7 percent seasonally adjusted from December.

January retail sales released today by the U.S. Commerce Department show that total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) were unchanged from December and increased 4.3 percent unadjusted year-over-year. December industry sales were revised upward from 0.9 percent seasonally adjusted to 1.2 percent seasonally adjusted from the previous month.

“Shoppers hit the stores in January to redeem holiday gift cards from a wide variety of retailers,” said NRF Chief Economist Rosalind Wells. “Though January is historically the slowest sales month for retailers, gift cards are changing the game by bringing a much-needed boost to stores.”

Eager consumers hit apparel and personal care stores last month to stock up on discounted merchandise with gift cards in hand. Clothing and clothing accessories stores saw sales increase 6.0 percent unadjusted over last year and 1.0 percent adjusted from December. Health and personal care stores, which showed the strongest year-over-year gains, increased 10.4 percent unadjusted year-over-year and 0.6 percent adjusted month-to-month.

Electronics and appliance stores are still experiencing sales increases largely due to the popularity of such items as high definition televisions, video game systems and MP3 players. Unadjusted year-over-year sales in electronics and appliance stores increased 5.1 percent and slightly decreased 1.2 percent from last month.

NRF continues to expect 2007 sales to increase 4.8% over 2006.

Payment Security

In a recent issue of Business Solutions Magazine, senior editor Dan Schell talks about the need for payment security knowledge. He states that retailers who accept credit card payments need to understand the Payment Card Industry Data Security Standard (PCI DSS) which he says,"outlines what merchants must do regarding the security of credit card data."

Retailers can learn about this standard at www.pcisecuritystandards.org.

Schell also explains that thieves are targeting smaller retailers to get credit card information. Member of the RSPA (Retail Solutions Providers Association) Brad Holaway says, "Some merchants don't even know they are at risk...But if a credit card security breech is traced back to a merchant, the fines could potentially exceed $500,000. And that's just the cost of the fine."

Consultants at One Step Data provide free Business Analysis and can help a retailer prevent possible future breeches. Contact a representative if you would like to speak with someone about your payment security or point of sale technology.

Tax Break on POS Software & Equipment

A new tax law makes it easier for retailers to upgrade to a new retail management system. For businesses, under the new Tax Increase Prevention & Reconciliation Act of 2005, the most lucrative piece of the law is a huge increase in the Section 179 first-year depreciation allowance for equipment to $112,000 as of January 1, 2007. It was originally $25,000. Under this tax break, businesses can immediately deduct 100 percent of the cost of most new and used business personal property, including computer software.

Contact an OSD Sales Consultant to take advantage of this tax incentive and achieve maximum tax benefits. The consultant can also give you a free retail business analysis to determine your technology needs. Email clientrelatations@onestepdata.com.

www.onestepdata.com

Free Retail Business Analysis

Retail experts at One Step Retail Solutions know thata retailers not only need a flexible retail solution, but a reliable technology partner consisting of knowledgeable consultants and support staff. Being a company thata knows retail, they know the value and importance of systems that meet the changing needs of retailers.

Retailers can get a free Retail Business Analysis with one of One Step Retail Solutions' expert retail consultants and determine the best solution to meet their needs.

Call toll-free at (800) 266-1328 to arrange your free Retail Business Analysis. You can also contact us by email.

5 Biggest Challenges Facing Retailers Today

A study by American Business Research Company was done to identify the biggest challenges facing retailers today, and some valuable information for retailers were discovered. From this, a special report was put together that reveals the five biggest challenges andhow retailers can overcome them.

Download free report.