Monthly Archives: April 2021

Keeping your retail business up to date with the latest and embracing new technology and ways of working is crucial to success. In this competitive market place, those not always looking for methods to improve their working practices are left behind by competitors who are doing as such. An Electronic Point of Sale (EPOS) system is something that many are looking towards as one such approach for becoming efficient and cost effective.

What Is An Epos System?

An EPOS system is the latest version of the `checkout till`, bringing in advanced and latest features suitable for a modern retail environment and recording sales that have been made, EPOS systems can take data and use it to make reports that can help retailers with refining and adopt their business methods. Different features can also be integrated, with the ability to incorporate stock management, staff management and loyalty

That is the place where the EPOS system comes in. It’s blend of up to the minute technology, reliability and efficiency have made it an increasingly popular choice for businesses. Here`s something about it.

WHAT IS AN EPOS SYSTEM?

EPOS represents Electronic Point of Sale system and is a computerized system used in shops and other retail outlets. Essentially it`s an electronic way for letting people to pay for goods or services. EPOS systems have a variety of uses, for example

• • Improving the way in which a business performs
• • Allowing data to be stored securely
• • Data can be retrieved immediately as and when required
• • Allows a business to see the products in demand
• • It can print out receipts and vouchers for customers
• • It can also be linked to a business website or any terminal within the business

6. Engaging shoppers after Black Friday or Cyber Monday.

Capturing sales after post Black Friday or Cyber Monday promotions these dates. This is a good way to promote any extra stock and reach at customers who missed your initial offers.

Think about doing something similar this year. Cook up an energizing angle for after Black Friday and Cyber Monday and get those promotions out there.

7. Boost results by teaming with other businesses.

Connect with various businesses with Black Friday or Cyber Monday initiatives and see if you can help each other. You should consider about doing cross-promotions or sharing the costs to market your offerings.

These kinds of team ups can be successful. As per Oregon Live, Little Boxes is "the independent business answer to big box Black Friday."

It`s a yearly initiative that rewards Portland customers for shopping

What about SMBs? Can small retailers reap the benefits from these two shopping events? The answer is yes. In case if you play your cards right, you also can use Black Friday and Cyber Monday to your advantage.

1. Make sure your store looks special

Even if you`re not effectively running Black Friday deals, it`s critical to keep your shop in top. This is true if you have a physical store in a mall. These venues see an uptick in foot traffic and a few of those customers end up in your shop.

According to the Retail Touchpoints, foot traffic to big box stores are expected to increase by 34%, this year. SME retailers near these stores could expect a spike also.

Here are a few steps that you’d like to capitalize on the additional traffic:

• • Spruce up your window displays and fixtures.
• • Display your best and newest merchandise.
• • Remember that shoppers are in the mood to buy, so implement sales tactics. It may inc

You should also consider the scope of features that every POS brings offer. There are basic epos systems that function as a cash register and that`s it. At that point there are complete POS systems that give provide more functionality including a sell screen, stock management, reporting and customer management in addition to other things.

If you`re running a small retail business, the best way is to go for the complete POS system.

Here`s the reason.

More features to grow your retail business

Basic POS systems and cash registers don`t do much else beyond ringing up sales. A complete solution has the capabilities that can grow your business more. Consider the following:

Inventory Management

A POS system with built in stock control features is a very powerful. POS solutions that come with stock capabilities can sync your stock levels as you make sales. This makes it easy for you to track item movements, so you can

Obsolete and Slow

Obsolete software or hardware of an EPOS system is one of the most obvious signs that you need an upgrade. You may require rebooting the system continuously as it takes longer time to load. Additionally, they are inclined to errors and vulnerable against malware. An epos update not only just make sure convenience but also protect from potential data breaches and damaged customer experience.

Ballooning Sales

As your restaurant becomes successful, Tracking of sales and stock may become complicated and time consuming if you are using the old traditional epos system. Increased influx of customers in your business requires investment in more efficient POS system that will save you from accounting mistakes, overstocking and under stocking.

High Expenses Without Returns

While using an EPOS is associated with certain costs, it should, thus, boost your revenue. The essence of technological advancement

To start with, allow for one person to handle with the cash register drawer if that you can. The more people that access, the more accountability that must be in place. However, a point-of-sale (POS) system offers features that help monitor which employee performed every transaction.

Next, start by counting the current cash in the till before you open. Ensure you have enough to make change. What you start with every morning will shift from business to business.

Throughout the day, depending upon the volume of business, you`ll need to deposit cash. In a few cases it might be two or three times a day. Make sure when you count the cash you remove the difference from the initial morning tally. It may be great to set a system that two people confirm the check and see that it is placed in the safe.

At the day`s end, it’s time to count the total sum in your cash register drawer including every mobile payment, card t

As per a report by Thinkjar, it is 6 to 7 times costlier to win a customer than keep an existing one. In another study by Marketing Metrics, businesses are 14 times more likely to sell to an existing customer than a new one.

Given these statistics, it is important for business to think about what strategies they are using to guarantee their existing customers keep returning back. Today, up to 65% of marketers are having loyalty program. In case if your business falls in the other 35%, you may be losing some loyal customers. Here are a few things you can do about it.

What is a loyalty program?

This is a rewards program given by a company to customers who buy products or use their services frequently. A loyalty program may offer customers with coupons, free tickets, stock or even an advance on pre released products.

There are some

You need to admit, the allure of the holiday season is felt more in the aisles of a retail store than behind a PC or mobile buttons. However, the need for convenience gets in the way of shopping at brick and mortar during the holiday seasons.

So, how to bring more number of customers into your store this holiday season?

Here are four ways to increase food traffic at your retail store this holiday season.

1. Host In-Store Demos

What better way to get your holiday hungry customers a taste of the season than with a holiday themed in-store demo to get customers rolling in.

Have a store that sells kitchen things? Host a holiday cooking demo and hand out free samples. Choose recipes that feature a top-level item you sell, similar to a holiday Instant Pot recipe that use a specific tool or product with huge profit margin that you sell.

Have a pet store? Host a DIY holiday pet photo session. All you need is a couple of holiday decorations

Most of the people are purchasing online and a few of us are purchasing things on online shopping giants such as Amazon each single day.

It`s not simply things but many more such as music, films and shopping experiences are currently being offered through the retail giant. If you have a brick and mortar store, how might you compete in an environment where the customer values convenience, speed and purchasing it from their mobile phones over shopping in person?

The answer for can you cope up with Amazon? can be: A few times surprisingly there are a couple of ways you can rise above the "Generation Now" culture to offer a shopping experience that levels and a few times even outperforms the "get-it-fast and cheap" culture of online retail.

1. Beyond the Brick and Mortar: Get an Online Store (It`s Easier Than You Think)

You have one thing that Amazon doesn`t and that is a physical store. So you need to use that to your potential benefit by offering