Proper preparation can boost peak season turnover
Issued by P and P Communications on behalf of Sureswipe - Nov 21st 2018, 10:07
Paul Kent, MD of Sureswipe, SA’s leading card payment company for small to medium retail market, shares some advice about how to get retail savvy and ready to enjoy the returns of the upcoming retail season in November and December.
Independent retailers are encouraged to prepare for the upcoming consumer spending season, which starts with Black Friday on the 23rd November, followed by Cyber Monday on the 26th November and then the festive season in December.
According to BankservAfrica’s 2017 transaction statistics, 4,7-million card transactions were processed on Black Friday with 260 552 of these being online. The same day saw consumers clock up R2,5-billion worth of debit and credit card retail transactions. Cyber Monday came in with about half as many transactions as Black Friday – still a significant number.
“If last year’s figures are anything to go by, it is definitely worth gearing up for this period,” says Kent. “Big retail stores have the resources to prepare for the consumer rush well ahead of time, but if you’re a small retail shop, franchise store, pop-up shop or market stall, it’s not too late to get ready for the big shopping rush.”
Paul Kent’s top tips for smaller retailers
● Attract customers with discounts - It’s been proven that offering significant discounts during this period attracts new customers to stores they’d normally not spend with.
● Offer combo deals - Nothing feels better than getting more than what you bargained for. Let’s learn from the big guys like Clicks and Dis-Chem who are already leading the way when it comes to bundled combos. You can consider offering 2-for-1 deals or Buy 1-Get-1-Free.
● Train your staff – Make sure your staff can confidently up-sell and cross-sell. This will improve the chances of customers buying more full-priced items. So, if an employee sells a ‘loss leader’, she or he must know how to easily offer add-ons to the sale.
● Ensure you have an eye-catching window-front - If you’re located in a shopping centre where the large retailers tend to dominate seasonal sales events, why not piggyback on their marketing spend to attract customers? Focusing on your shopfront such as the window displays, the on-site branding etc will attract the foot traffic of consumers that are there for the big sales. Refresh your window-front and interior frequently during the season to keep it new and appealing!
● Make sure you have a reliable card payment system – Don’t lose customers because it is too difficult for them to pay. They are spoiled for choice at this time, and will easily walk away if you don’t have a card payment option, or if your card payment system is slow or faulty. Your card payment system should include:
o A card acceptance machine - Ensure that have a card machine to accept all kinds of credit/debit and tap-as-you go cards, as well as popular QR smartphone scanning apps, such as Zapper or SnapScan. With companies such as Sureswipe, you can order your MOVE card payment machine online and be swiping in a few days.
o Tracking your inventory - Having an affordable and easy-to-use POS system helps you analyse your sales and data in real-time – so you can respond quickly to stockouts and other issues during the rush. Sureswipe’s POS Lite App and humble Till are easy to set up and use with your Move card machine.
o An existing POS - if you’re already integrated with a POS vendor, but are looking for contactless transactions for faster transactions to reduces queues in store, then Sureswipe Integrated Payments is perfect for your store/s.
Click here for more information on Sureswipe
Sureswipe has acquired a 50.1% majority stake in the Point of Sale software company humble Till, a move which will enhance Sureswipe’s offering to small and medium-sized businesses using card payment solutions in-store by offering them an affordable and integrated solution.
Sureswipe’s Managing Director, Paul Kent received the 2018 National Entrepreneur Champion award, which was announced by the National Small Business Chamber (NSBC), in association with World Famous Events on Friday, 9th November 2018.
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