Americans love to give the gift of shopping. More than half the adult population currently has an unredeemed gift card to one boutique, store, or service. The flexibility that gift cards afford make them appealing to almost anyone, and every day, more and more money gets added to these billions of dollars’ worth of potential retail experiences. That’s great news for retailers, as gift cards generate all sorts of benefits, ranging from turning indecisive shoppers into guaranteed revenue and providing a little free marketing.
Thankfully for outlet owners and managers, adding a gift card feature to the front-of-house technology array is far easier than accommodating some other consumer demands such as the number of payment options now available. The basics of a point of sale (POS) gift card system sit within your overall business management software and operate as a function of your register.
With the right software solution, you can begin offering a fully customizable gift card option to your range of services within just a few days.
Generating Sales With a POS Gift Card System
The amount of money lying around in unspent American gift cards exceeds $21 billion. That’s money that is already effectively working away on the bottom line of commercial income sheets despite never actually being exchanged for any goods or services. In fact, much of it may never be fully claimed.
What kind of retailer would want to pass up such an opportunity? Gift cards are as much a present for the owner/manager as they are for the recipient. Not only do they represent a potential money-for-nothing experience they also act as a promotion for the store in question and can become a product in themselves, which encourages otherwise reluctant shoppers to venture into the retailer’s store.
The great thing about gift cards is they can be anything to anyone. They are the promise of an experience, as they don’t hold any specific form. In the hands of a skilled retailer, they’re quite an effective revenue stream. Moreover, it doesn’t take an IT wizard to establish an effective POS gift card system.
Installing a POS Gift Card System
Thanks to the digital age, gift cards now come in both physical and virtual forms. Whether you want something to increase your online conversions or you need an attractive piece of plastic to hand out over the in-store counter, the underlying technology is the same.
The service simply sits within the all-in-one nature of your digital POS solution. The money gets included in your normal flow of purchase orders, inventory, and sales, and you can track the popularity, effectiveness, and unredeemed value of each card with all the sophistication of a modern data science program. The transaction goes through like any other sale and the true amount stays accountable on your books until it is redeemed by the lucky recipient, keeping your finances in realistic working order.
Aside from having to custom design the look and logos on the gift card, installing the program is no different than accessing any of the features that now ship as standard with modern POS systems. It’s a streamlined approach that makes running your store, boutique, or online outlet easier than you may have realized.
Add a Gift Card Program and Upgrade Your POS Solution
If you’re thinking of adding a POS gift card system to your store then you might as well take full advantage of what the best modern digital solutions have to offer. Based in the Cloud, these systems offer a one-stop-shop platform that houses all your retail management needs and can be accessed from any internet-connected device.
The systems generally take physical form as an iPad display paired with a range of cash draw, payment, printing, and barcode labeling hardware, depending on your preferences and customer demands. From there, all your business and customer-related software runs through a digital network that connects your sales with the performance of your sales staff, your purchase with your unsold inventory, and your online presence with your in-store displays.
These systems are all-encompassing retail management platforms that let you accomplish any or all of the following from the in-store main hub or your personal smartphone or laptop:
- Accommodate product variations and modifications
- Create unique product bundles
- Handle discounts, refunds, and returns
- Automate recurring purchase orders and supplier relations
- Management staff rosters and HR demands
- Provide sales and stocktake information
- Monitor customer data, sales patterns, and inventory movement
In addition, a digital POS gift card system can also handle all the demands of a loyalty card program. Loyalty cards act as a different kind of consumer incentive than the gift card, but you can leverage the relationship by offering your regulars the chance to become true brand ambassadors and physically build brand awareness among their friends.
POS Gift Card Systems Add Value
Gift cards give your customers an additional way to do business with you. They extend the shopping experience into areas where the person might otherwise be too uncertain to make a definite decision, while letting the regulars share their passion for your wares with their friends.
The nature of modern POS systems means this extra service is more a practical upgrade than an additional feature, should you head down the path of improving your customer interactions. At the end of the day, gift cards can become a great boon to your business, and with the right POS system, managing them is a breeze.
We at talech want to assist customers that have been financially impacted by COVID-19, in light of restricted movements in cities and towns across the country. We have launched a number of initiatives to help customers during this time. Click here to find out more or reach out to our Support Team at firstname.lastname@example.org