In today’s retail market, it’s important to take advantage of every opportunity to increase sales and build customer engagement. However, many retailers aren’t fully maximizing one of the most important aspects of the customer experience: the checkout.
In a recent study of grocery customers, participants rated the checkout as the most important part of their shopping experience – even above the friendliness of store associates. In addition, 70 percent of customers say that checkout influences their perception of a store more than anything else, and nearly 80 percent say that having a bad experience at the check out makes them less likely to shop at the store again.
So what can retailers do to improve and maximize the checkout experience? We’ll share a few tips.
Keep Items in Stock
The checkout can be a powerful tool in boosting average and overall sales. Reports show that 77 percent of customers find additional products to purchase while waiting in line to check out. Failing to take advantage of that buying potential can mean a significant loss in revenue. But that is exactly what happens in many stores.
An astonishing $500 million in sales are lost at every year at grocery store checkouts alone, due to out of stock and misplaced inventory. Simply, when customers can’t find the specific items they want, or when price information is missing, they won’t make those additional purchases.
Update Inventory Processes
Retailers have no real way of tracking checkout items – and keeping them in stock – when using old and outdated inventory processes. There are new smart technologies that can help identify and correct compliance issues. An integrated point of sale system is also an essential tool in maintaining a well-stocked checkout.
Maximize Branding Opportunities
At the checkout, retailers have a captive audience. It’s the perfect opportunity to inform customers abut new products and display relevant advertising. Survey participants say that seeing such branding would motivate them to either purchase the product immediately or look for it on their next visit
Ready to improve the checkout experience? Retail Tech is there to help with a wide variety of new and refurbished POS equipment. We offer installation and staging, PoS printer repairs, and more. Contact our POS systems specialists for help finding the perfect point of sale solution for your retail store.