Taking a look at two ways of maximising point-of-sale potential, GTN meets a few specialists who can help you achieve your goals.
When discussing point of sale you can look at physical sales displays, which are used to encourage purchases or the pos systems that you use to finalise sales and collect information to help improve your offerings.
Point Of Sales Displays
While they can be used anywhere, point-of-sale displays are usually found near the checkout area of retail shops, and aim to encourage customers to make final impulse buys before checking out. they are also frequently used to display special offers or new releases in store. When it comes to designing a point-of-sale display, it is vital that you fine-tune the attention-grabbing facets to ensure customers stop instead of just walking past.
As many retailers are already aware, your point- of-sale set-up is far more than just a well-designed cash register. it is also usually the final display a customer will see before making a purchase.
Marketforce offer customer experience management to businesses, and work with the Future field sports titles to successfully deliver them to market. Circulation manager, Matthew De Lima, suggests that there are a lot of factors to consider when creating a display in a retail environment. “The important thing is to keep it simple and avoid confusing the customer.
“Consumers are always intrigued by new products, so make sure that any brand new products are highlighted as such. this also lets the consumers know that they’re looking at the latest version of that product. they are more likely to buy these as a result.”
You can use these displays to instigate conversation. as well as creating an opportunity to upsell, take this chance to collect email addresses. at the checkout, sales reps can offer to sign customers up for newsletters or enter competitions. using a pos system can help you keep track and construct useful reports.
The messages you are portraying are important in building engagement with your audience, a common marketing tactic used these days is ‘witty banter’ to increase engagement, using a funny picture or quip to get that initial look towards your products.
Marketforce has recently tested these visual techniques in stores and saw an uplift in magazine sales. at the same time, messages are important in building engagement and special events and occasions provide a great opportunity to do this. “It’s about tailoring the right messages to your audience,” adds Matthew.
Point Of Sale Systems
It’s easy enough to take payments, hand out gift cards and go through the regular motions of running a business on a daily basis. but by creating digital point-of-sale channels you can also pick up useful data that can be translated into business-optimising alterations.
Tracking inventory is the most clear-cut benefit of POS. The right POS, including software, can reconcile your inventory after each transaction, track stock counts, and automatically withdraw products when stock runs out. this can offer you valuable data on a range of products, locations (if you have multiple store or manage warehouses) and any movement between locations. having this data to hand allows you to manage and adjust your product buying and also gives you the answers to customer queries.
In turn, this helps you to create customer profiles. each time the till rings, you can collect valuable information and give yourself an insight into your customer base. GDPR is a major factor and sensitive personal information cannot be used lightly, but anonymised profiles of past purchases and order histories are still useful.
This takes the guesswork out of promotional or marketing campaigns. if you are unsure of the seasonal trends, or if it is the right time to put on a sale, order histories can give you more insight into what works. when it comes to sales, based on order history, you can also offer a higher level of personalised customer service.
“The first thing to consider is to understand who your target customer is, as this will shape how your retail display will capture your audience,” explains Matthew de Lima. “Not just gender and age, but examining further into lifestyles – the way people live also determines the purchases they make.”
This can include: making product recommendations and upselling, creating personalised marketing messages and targeting adverts and promotions.
Being that a point of sale’s primary purpose is just that – to make sales – obviously any pos is going to track all the purchases that flow through your till. and while this is a seemingly basic function, retailers can glean all sorts of valuable pos data from sales. look at the peaks and troughs in your sales numbers to highlight day-to-day trends as well as long-term seasonal changes.
This kind of pos data can help you make small changes, like eliminating certain products from your shelves and adjusting staff roles and performance. these changes don’t just add another display to your countertop checkout but could make a big impact on your bottom line.