The COVID-19 pandemic and the supply chain catastrophe that it spawned have made for challenging times for our country’s brick-and-mortar and online businesses. That’s why it is so encouraging to learn that sales this Holiday Season are expected to reach $1.3 billion. But how can you prepare for holiday shopping and grab your piece of this commercial pie in November and December of 2022?
Harness the power of your POS solution.
The answer lies in the point of sale (POS) system you probably are already leasing from your merchant services provider. We’re talking about the combination of hardware and software that you use to accept credit and debit card payments from your customers. What you might not know is that this same system made up of some combination tablets, card readers, payment processing software, barcode scanners, and receipt printers can also be instrumental in bringing in the 2022 holiday sales you need so badly.
Use every tool in your kit.
Yes, your POS system should come stocked with everything you need to securely read credit and debit cards and process all manner of payments. That also includes contactless payments, those made using mobile devices and wearables, and even ACH (echeck) transactions. If that was all your POS solution did, it would still be an invaluable addition to your business. However, depending on the POS system you have in place, we’re likely just scratching the surface of its capabilities. Take a look at the other weapons in today’s smart POS system arsenal that you can harness to woo loyal customers and surge past your competitors.
- Inventory management. Although some of the kinks in our supply chains have been sorted out, difficulties remain. For that reason, first-class inventory management has become more important than ever. In tandem with your barcode scanners, your POS system should allow you to track each piece of merchandise in your warehouse so that you have real-time intelligence about your product counts. Using that information, you can order replacement stock long before it runs out to avoid restocking delays and disappointed customers.
- Customer loyalty capabilities. Establishing and nurturing relationships with loyal buyers is one of the most effective ways to keep shoppers coming back, as well as to encourage referrals of family and friends. With the help of the database capabilities built into your POS system, you can solicit and store valuable details about each of your customers that you can use to create a dynamic loyalty program. Everyone loves to be rewarded, especially during the holidays. When people visit your store or website in response to one of your promotions, they will likely find other items that appeal to them.
- Illuminating reports. Think of the contemporary POS system as the silent brains and information repository behind your business. It can securely stow records of every item in your inventory, as well as numerous data points about your sales history. The right POS system will be specifically designed to be able to gather, crunch, and display these details in actionable reports that you can use to formulate accurate, facts-based goals. Let your POS solution put the power of analytics-based data at your fingertips and you will be well-positioned to make the marketing and inventory decisions that will ensure your success during the 2022 holidays.
As we begin to slowly emerge from the pandemic and all the challenges that have followed, the success of retailers will be determined by their ability to be nimble in the face of change and to benefit from the customer and sales data they possess. Although small in size, your humble POS system just might be the key that will carry your business through these difficult times and into post-pandemic holiday sales success.
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