The holiday season is a time of joy, cheer, and... retail chaos.
As a retailer, you know the drill: The holiday season brings with it a host of unique challenges that can make even the most seasoned business owner break a sweat.
From managing high traffic and long lines to dealing with increased theft and managing promotions, the holiday season can feel like a whirlwind.
So, how do you manage your business during this festive frenzy?
It’s simple: Find the right point of sale (POS) system.
Let’s explore the top six holiday season pains for retailers, and how your POS system can help you tackle them.
1. High Traffic and Long Lines
The holiday season means an influx of customers — and while that's great for business, it can be a nightmare for retailers trying to manage long lines and impatient shoppers. This increase in foot traffic is not only overwhelming for cashiers, but can lead to a significant decrease in customer satisfaction.
The key to keeping everyone happy is choosing the right POS system. A solid point of sale solution can manage the high traffic and long lines with features like mobile and contactless payments, which means customers can quickly and conveniently pay for their purchases, reducing the time they spend in line. Plus, a customizable touchscreen and fast barcode scanning help cashiers process transactions more efficiently, further reducing wait times.
The bottom line: A POS system can drastically reduce checkout times, so you can serve more customers in less time.
2. Increased Theft
Unfortunately, the holiday season is not just a time for giving, but also for taking — retail theft tends to spike during this period. A POS system can help combat this with features like real-time inventory tracking, which allows you to keep a close eye on your stock levels and quickly identify any discrepancies.
You can also take advantage of your POS system’s real-time dashboard notifications. These allow store owners to send messages to the cashier screen, warning them about suspicious activity. The system also supports security and access rights, limiting who can access sensitive information and functions, and decreasing the chances of internal theft.
3. Holiday Promotions and Discounts
Holiday sales, promotions, and discounts are great for attracting customers, but they can be a headache to manage. Use your POS system to easily set up and manage special deals, and even schedule promotions for specific dates and times — try a “12 Days of Holiday Deals” promotion where a different item goes on sale each day.
Your POS system should also support flexible discounts, allowing you to offer discounts on the fly, just in case you need to make a last minute adjustment.
4. Gift Cards and Receipts
Gift cards are a popular holiday gift choice, but they can be tricky to manage. A POS system helps streamline the process with features that allow you to easily issue, track, and redeem gift cards.
Plus, with digital receipt capabilities, you can customize your receipts, and even send email and SMS receipts — so you can offer your customers an environmentally friendly receipt option and save on paper costs.
5. Retail Inventory Management
Another holiday season pain for retailers? Inventory management.
The holiday season often means fluctuating inventory levels, with popular items flying off the shelves and many products being returned. A POS system helps you stay on top of your inventory with real-time tracking, alerts for low stock levels, and easy adjustments for returns.
Remember to take advantage of sales reports, too. Look into your historical sales data to determine which products are most popular — especially this time of year — so you can make informed business decisions and stock your shelves accordingly.
6. Employee Management
With increased traffic and longer hours, managing staff can be another holiday season pain point for retailers. In fact, many business owners add more shifts or hire additional seasonal employees to keep up with the demand — which means you need a solid employee management process in place.
A POS system can help with features like time tracking, role management, and shift scheduling, ensuring your staff is efficiently managed throughout the season.
Manage Holiday Season Pains for Retailers With Comcash
The holiday season is a lucrative time for many retail businesses, but it does bring a host of challenges.
Luckily, a comprehensive point of sale solution can help you manage these pain points and ensure a smooth and successful season.
If you're ready to take your business to the next level — and ease these holiday pains for retailers — give yourself the gift of a solid POS system and schedule a demo with one of our Comcash specialists today.