Forums: Discussions for entrepreneurs and small business.

Fixed Location Point-of-Sale Tools

• Point-of-sale terminals are the modern equivalent to the old-fashioned mechanical cash register. A fully functional point-of-sale system needs to be able to accept a variety of payment methods including cash, credit cards and debit cards, meaning that an electronic connection to an outside banking system is an absolute necessity. As of 2010, self-serve point-of-sale kiosks are a quickly growing trend in retail point-of-sale technology that allows customers to scan their own items through the computerized system and pay without human interaction.

Mobile Point-of-Sale Tools

• As of 2010, mobile point-of-sale devices are becoming more commonplace in the North American market. These devices are particularly popular with taxicab and food delivery businesses, combining the convenience of a fully functional digital point-of-sale with extreme portability. These tools can operate anywhere in range of a cell phone tower, a convenience previously reserved for cash and checks. More payment options for the customer mean there is a greater likelihood of securing that initial new customer transaction.

Point-of-Sale Techniques

• There are a few key types of point-of-sale control techniques that are found in most retail businesses. The most common and most helpful type of technique for higher volume retail applications is teaching front-line cashiers to count and manually enter the number of identical items passing through the till rather than scanning them each individually, which would take more time. Memorizing PLU codes for unlabeled products, such as supermarket produce, also leads to less of a wait for the customer.

The Up Sell Technique

• In retail and fast food businesses, up selling is one technique that can have a drastic impact on overall revenue. One example of the most basic form of up selling is the classic fast food line, "Would you like fries with that?" This seemingly innocuous phrase can increase the per customer profitability of the transaction by as much as 20 to 40 percent, depending on the specifics of the restaurant. The same up selling tactic works in virtually any other retail application.

 

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Thanks for sharing Point-of-Sale Techniques & Tools. It is to the point post. I like Up Sell Technique and the example that you have given for better understanding. Thanks for sharing such valuable post.

 

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