Electronic point of sale systems have become extremely popular in restaurants and stores because the ability to process payment at the table frees it up faster, improving the profits of the venue. An ePOS or electronic point of sale system can dramatically increase sales in a retail store, too. Let’s look at how you can use an ePOS system to boost retail sales.
Select an ePOS System that Integrates with Everything
If you buy an electronic point of sale system that runs on any type of device, you’ll never again have to pay a fortune to repair proprietary hardware. If you select an epos system that connects with every major accounting and inventory management system you have, your inventory tracking has 95% or better accuracy and your financial accounting becomes much better. Your epos system significantly speeds up checkout processing if it already accepts every major digital payment system and contactless payments.
Process Payment Right Where the Customers Are
You could significantly improve the customer experience by being able to check them out where they are standing with an item, instead of making them cross the store to join the checkout line. You also reduce the potential lost sales because they change their minds on the way to the cash register.
If you can process payments in classrooms and demonstration areas, you could dramatically increase sales at special events without increasing the load on the checkout clerks. If this is something you want to be able to offer, you need to choose a system that will enable you to do it. Providers like Vend offer ePOS systems that work on tablets and PCs, online or offline – which is the perfect option for retailers who want to be able to make sales outside of the store.
Utilise Reporting to Better Handle Inventory
If you adopt an ePOS system, it will give you real time sales data and a suite of built-in reports. Know what the hottest sellers are relative to inventory levels so you can order more before you run out. Review inventory turnover rates and shifts in purchasing to decide what you need to order more of and what you might want to mark down on sale.
Integrating Customer Service into the Process
You can integrate customer service into your checkout process by reminding employees through pop ups to greet customers and thank them for their business. Or you can use the ePOS to email receipts to customers in your database and collect personal information, though you need to be careful not to slow down the checkout process by requesting someone’s email and phone number.
Electronic point of sale systems process discounts and sales automatically. By reducing the delays for a manager to explain discounts or resolve disputes over the price of an item, the overall process is smoother. Staff can simply scan a coupon or tag and if it doesn’t go through, they can say it isn’t valid and move on.
Conclusion
Select an electronic point of sale system that integrates with any existing hardware, software, and devices. You can process payments wherever the customers are, reducing the chances of them abandoning their purchase. You’ll also gain real time sales data and be freed up to deal with the major issues, while simultaneously improving the customer experience.
