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Are you all excited for the upcoming festive season? Well, after a somewhat sombre 2020, the final three months of the year presents a hope of bouncing back from the declining sales numbers due to COVID-19 related disruptions. After all, the festive season opens a plethora of options for retailers to boost sales and increase their revenue. Consumers look forward to the joy of shopping with some lucrative deals and schemes. While it is true that this year most consumers are shying away from the visiting offline stores but that is not going to continue for long with the festive season approaching. Several of our retail partners are finding innovative ways to reach out to consumers and fulfilling their orders. According to a report by The Times of India1, a well-known multi-brand store in Bhubaneshwar is taking orders on WhatsApp and delivering goods at the customers' doorstep without a delivery fee. Adding on to the list of conveniences being offered, retailers are also providing their customers the option to pay via multiple modes of payments and it is here that the ePOS by Pine Labs app has been a boon as this simple app ends up converting an Android smartphone into a payment acceptance device.
Let us have a look at how retailers can drive sales this festive season:
#1. Accepting digital payments
Never say "No" to customers who are looking to pay via digital modes of payments. Retailers must be ready to upgrade their point of sale infrastructure and let go of this reliance on a cash-only business model. Our Plutus QR and Plutus Smart products are equipped to handle multiple digital payments and will help you boost sales during this all-important festive season.
#2. Leverage the power of analytics
Supermarkets, grocery stores, large retail chains, and other brick and mortar businesses have an opportunity this festive season to retain loyal customers, retarget them, and engage them to get their sales back on track in the festive season. At this point, data analytics can help you in understanding the needs and shopping behaviour of your customers and create personalised campaigns for them based on their spend patterns. Pine Labs Analytics product offers all this and more.
We also recommend you read: Data analytics: The X Factor to boost your retail sales
#3. Offer products on EMIs
Affordability option during checkout can boost retail sales and this is one of the easiest ways to attract customers who are reluctant to make a lumpsum payment for products. Offering the option of EMIs on credit cards is known to all but not many are aware of EMIs on debit cards. Pine Labs offers Affordability Solutions at the point of sale through both credit and debit cards. Not only this, Pine Labs' Android PoS, Plutus Smart instantly pulls up latest brand/bank EMI offers which can help you to recommend the best offers to your customers. It also empowers the fastest EMI checkout experience in the market that helps retailers to sell more and close deals faster.
#4. Offer Loyalty Solutions
Building a robust customer loyalty platform is of utmost importance. This helps in identifying loyal customers and getting repeat business from them. Retailers should opt for loyalty programs to foster their loyal customer base. Using Pine Labs' Loyalty Solution, merchants can offer their customers the convenience of paying for an item of their choice through the accumulated reward points through our PaybyPoints offering.
If you're looking to upgrade your PoS to a new-age and smart Android PoS to make the most of the upcoming festive season, do reach out to us.
1 Source: https://timesofindia.indiatimes.com/city/bhubaneswar/sellers-customers-embrace-shop-from-home-as-festive-season-nears/articleshow/77858128.cms
By Vinisha Kataria | on February 28, 2021
By Vinisha Kataria | on February 25, 2021