The gift card industry is projected to increase to more than $400 billion in 2019, with a 10% average annual growth rate. That means by 2025 the gift card industry will surpass $700 billion. As a business owner, this may be something you want to keep an eye on. If you haven’t, already, you may
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Business owners face a number of important decisions, one of them being pricing. A great pricing strategy helps you determine the price point where you can maximize profits. When setting retail prices, consider production and distribution costs, competition costs, positioning strategies and the ideal customer or current customer base. It’s a lot to think about
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According to the latest National Retail Federation survey, American retailers lose almost $50 billion annually to theft. Shoplifting accounts for 36.5%, or most of those losses. If you understand the factors that lead to the shoplifting epidemic, it will help you determine effective measures, recognize points of intervention, understand seasonal patterns, and select an appropriate set of
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Window displays are the most direct in attracting customers. It’s usually the first visual contact a consumer has with a store. Then once the customer gets inside, in-store retail displays play an even more crucial role in moving the customer closer to the point-of-sale (POS). Here are 9 ways to create the best sales boosting
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In our digital society, accepting cash-only at your business may be becoming more of a detriment to your bottom line. In 2017, 78% of consumers, through a survey, said they prefer to pay for goods or services with credit or debit cards. In order to stay competitive, it’s almost a must that you accept several
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As point-of-sale (POS) technology continues to advance, the cash registerbegins to fade away seeming more and more like a vintage machine. POS systems make life a lot easier for retail/restaurant owners and employees. It’s not just useful for sales transactions, but it offers many other useful features as well. Today we keep things basic by
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If you want to increase the speed at your checkout counter, invest in a barcode scanner. Not only does it simplify the sales transaction process by eliminating the need to look up items via the search field, it automatically updates your inventory. A barcode scanner is easy to use, and just as easy to set
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The holidays are over and it’s now time to start collecting invoices and receipts as that first step toward tax filing. It’s not always the most fun task, unless of course, you’re finding ways to save money for your business. That is what we’ve set out to do—help you find money for your business. Here is
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The New Year is right around the corner, and just because holiday sales are winding down, doesn’t mean your customer traffic has to wind down too. We’ve got a few ideas to help you retain all your new customers, and build more. Here are 8 ways your Point-of-Sale (POS) can help with customer appreciation. 1.
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Retail loss prevention has always been a challenge, and it only seems to be getting worse. According to the National Retail Federation, the U.S retail economy lost $48.9 billion in 2016. That’s up more than $3 billion from the year before. If you’re not vigilant in reducing shrinkage and improving your store’s security, you should
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