The benefits of EPOS equipment are broad and impactful. There are businesses across the world which are streamlining their day-to-day operations using the machinery and cutting costs while improving efficiency.
However, there are a number of more subtle benefits which, while they might not be enough to convince you to buy the EPOS system on their own, can still be very valuable. In this blog, we will outline five of these lesser-considered benefits.
If you have an EPOS device which requires a repair or service, get in touch with us now on + 44 (0) 1294 274914.
Three Ways EPOS Can Help a Small Retail Business
Here are five benefits that EPOS Systems will offer that you might not have considered:
- Implement Electronic Gift Cards
- Process a broad range of payment methods
- Start a customer reward system
Electronic Gift Cards
Although we usually associate them with larger companies, all that is required in order to issue and process electronic gift cards. Being able to do this offers a significant number of benefits.
Firstly, although you have made the initial sale, there is potential to make more profit. Although theoretically, you may have to give away products without making any more money, about 50% of customers will spend even more when actually in the store.
In fact, people with a gift card for £50 will typically spend about 20% more than the total they have available. As a result, although you are giving out credit, there is potential to boost profits even more.
Secondly, the reality is that a significant percentage of people who are given gift cards will never even spend the entire value on the card. This means that through no fault of your own you will be able to turn a profit without having to offer any goods in return!
In short, gift cards can be a very lucrative addition to your business, and you can increase your customer base by people gifting credit for your store.
Accept Different Payment Methods
How we pay for things has changed significantly over the last few years. With the invention of things like contactless card payments as well as paying through your smartphone, fewer and fewer people are carrying cash.
In fact, the United Kingdom is the third most ‘cashless’ country on the planet. Over the next two years, it is expected that this trend is to increase exponentially. While this is convenient for the consumer, it puts small businesses in a difficult situation.
Small businesses which do not have electronic tills may find that customers simply cannot pay, and although they may go to a nearby ATM and return this is far from a guarantee. Additionally, you may not have a cash machine nearby.
EPOS systems allow for you to accept any form of payment regardless of what new technology is on the rise. Make sure you update your equipment and don’t miss out on sales!
Reward Your Customers
Repeat customers provide the foundation for the vast majority of retail operations. Having a steady stream of loyal customers can make sure that profits remain consistent over extended periods of time.
However, doing this is easier said than done. You can provide fantastic products, excellent service, and generally create a great experience for the shopper, but with the amount of choice, consumers have it is still difficult to guarantee their business in the future.
EPOS systems allow you to set up a reward scheme which provides an incentive for customers to return. With the infrastructure to offer discount codes or reward points, it will encourage people to come back and collect more points or trade in rewards they have already earned.
Get in Touch
As you can see, EPOS equipment can help to bring even the smallest of retail operations into the modern world. The cost of technology, available only to huge companies at one time, is exponentially plummeting.
Nonetheless, electronics are never going to be 100% reliable at all times. Faults will take place and accidents to happen. However, Elcomatic is here to make sure that when an error or break does occur, disruption is kept to an absolute minimum.
We have a team of knowledgeable repair technicians who are trained to the very highest standard, and we thoroughly test all of our work to ensure that the fix will be lasting.
To speak to one of our operators today about a repair, give us a call now on + 44 (0) 1294 274914.
Alternatively, complete our contact forms and one of our personnel will be in touch as soon as possible.