How To Use Your Retail POS To Improve Customer Experience
It’s easy to look at a point-of-sale system in terms of the advantages it brings you. Retail POS software improves your ability to track stock, analyze sales trends, predict future seasonal needs, and more. However, the benefits of a quality ePOS system go beyond that. They can also be powerful tools for improving the experience for your customers as well! Better CX leads to more repeat customers, better word of mouth, and improved presence on the online review sites. It really can be an all-in-one investment for improving the experience for everyone associated with your retail operation. Four Ways to Leverage A Retail POS For Better Customer Experiences 1. Beat long lines with mobile POS units Do you have peak times during your day when the checkout lines get longer, and you risk seeing customers abandon their purchase? Mobile POS units are the perfect solution. Handheld or tablet-based purchasing systems allow your employees to quickly service customers anywhere on the shop floor, reducing queues and ensuring every customer leaves happy. 2. Add an in-store cafe Some POS systems are flexible and can accommodate a wide variety of goods – even from different types of retail establishments. This can be leveraged to more easily add a cafe to your operation. Cafes encourage repeat business, while potentially also making your shop a place to relax, eat, or drink. (Just look at how much business IKEA pulls in with their in-store restaurants!) 3. Set up loyalty programs Loyalty programs are a time-tested method of improving CX and encouraging repeat business, and they’re even more useful when backed by a robust retail POS solution. You can track individual customers and their purchasing patterns, going far beyond the typical “punchcard” type solution. You could potentially offer rewards that are customized for the customer. At the least, tracking sales becomes much easier. 4. Display extra languages on the customer-facing screen Do you have a multi-cultural customer base, or occasionally have communication problems with foreign-language buyers? Your ePOS can use the customer-facing screen to show information in a variety of languages, customized for your particular selection of customers. It’s a quick and easy alternative to asking your employees to learn more languages. Businesses Worldwide Trust Eurostop More than 100,000 businesses utilize Eurostop retail POS and stock tracking solutions. With numerous must-have features and simple interfaces that reduce training requirements, our software enhances your CX! Contact us to learn more.
5 Reasons Using Inventory Management is Beneficial for Your Business
Every retail business, no matter the size, relies on processes to help them keep track of the products they have in stock, orders, pricing and other aspects. Gone are the days where you need to spend valuable staff time and resources to accomplish these tasks. Nowadays, stock control software can provide a variety of automated solutions to help increase efficiency and save your business money. However, if you’re still not entirely sold on the idea, the team of experts from Eurostop has collected some of the most attractive features of a stock control system for you below, so take a look! Valuing your stock Stock control software should enable you to evaluate the value of your retail stock. It will allow you to calculate how much you spent on your existing inventory and how much you spent on stock already sold. A good stock control system will also calculate profits and margins to monitor how your business is performing. Forecasting Predicting trends and future costs for your business will help you ensure your company remains competitive in the years ahead. Stock control software helps with forecasting by providing in-depth data to help determine the demand for particular products, how much you should order and invest in inventory, and more duties based on insights and market trends. Security, Integrity & Collaboration The right stock control software goes above and beyond simply keeping track of inventory, it also provides added security and integration solutions. All of your data is stored in a central system and you control what it’s used for and who has access to it. Additionally, authorized staff can easily access the central data, which can ensure that everyone is using up to date and accurate information. Inventory Management With the right stock control software, you’ll be provided with inventory management solutions designed to help your business maximize profit. This is because you’ll be able to easily manage the purchase, delivery and selling of stock by automating such processes. This, in turn, ensures that there’s never a situation where you run out of your products or stores are not stocked correctly. Price Management Through the use of stock control software, you can easily administer and monitor product pricing. By using inventory management software, you can get a handle on the pricing process by tracking the costs of products from their point of purchase to when they leave your brick-and-mortar location, markdown products from your central system and synchronise pricing across your EPOS estate. Let us be your stock control software provider! To learn more about the stock control software solutions available from Eurostop, contact us online today. You can also call +44 (0) 20 8991 2700 to learn more about our retail EPOS solutions and services.
Four Big Signs You Need Stock Control Software
Stock control software can be a major boon for retailers who are expanding and starting to have difficulty keeping up with their stock. These software systems don’t merely track stock, they offer robust forecasting systems based on your real-world data which allows you to plan and make smart money-saving stocking decisions. However, these systems can also be a sizable investment, particularly for smaller operations. Is it time for your business to embrace smart stock control? Here are some signs that you need an upgrade. Do You Need Stock Control Software? These Are the Signs… You struggle with seasonal forecasting Properly planning for seasonal stock is a major problem for any retailer. In any situation where demand for a product can vary wildly across a year, it’s easy to end up either over-stocked or under-stocked – and both will be costly. This is particularly true when the items are perishable, or in a field such as fashion where trends change rapidly, and old stock will lose value. A good inventory planning software system can take your real-world data and make highly accurate forecasts, even when the items in question are volatile. Your warehouse is filling up When a retailer has poor stock planning, it’s often most reflected in the state of their warehouse – it’s becoming full of excess and obsolete items that are difficult to move. Sure, clearance sales will free up space, but that’s throwing away money. Having too much capital tied up in your stock can even negatively affect your liquidity and cash flow. Good item tracking and forecasting prevents this, equalizing your stock levels and preventing over- or under-stocking. Customers complain about unpredictable service levels Buyers today in all fields want reliability and predictability from their retail partners. You should be able to offer the same level of service, and the same rapidity of shipping, no matter the product on offer. If you’re seeing a lot of variation in how quickly customer orders are fulfilled, that’s another sign you need a better software package to get on top of the problem. You’re wasting time manually doing stock management or putting out fires Whether it’s you personally or an employee, how much time and effort is being spent on manual stock management. Are you constantly having to “put out fires” caused by stock problems, and having to go through time-consuming manual processes? If you feel like you’re being taken away from your core competencies to deal with stock issues, inventory planning software can take that burden away. Trusted by over 100,000 users around the world, Eurostop is one of the premier providers of software that supports your business. Contact our team today to learn more about our software solutions.
What is the Importance of Retail EPOS Systems?
When it comes to retail, ensuring all of your customers are given the utmost attention is key. That’s why improving the payment process and providing them with efficient service is essential. To attain such goals, many retailers implement a reliable retail EPOS system to help them track inventory, process payments, provide customer benefits, and more. At Eurostop, we’ve helped hundreds of retailers over the years track sales and improve their processes, so we’ve collected some insight for you here. Below you’ll find some of the most important aspects of implementing a system with reliable retail POS features. Pricing Benefits When it comes to pricing the products in your retail establishment, a retail EPOS system can help drastically reduce errors. This is because the system keeps pricing consistent by synching with your stock control or ERP system so that scanning a barcode gives you accurate pricing information, avoiding user error. Of course, discounts, sales, and other customer incentive programs are also programmed into your EPOS software, with additional options to override, depending on staff permissions set by Head Office. Tracking Employees The right EPOS system can also help you keep an eye on your employees. You can monitor their performance and what they’re doing, as well as reduce wasted time by making employees responsible for their own registers and payment terminals. You’ll also be able to track top-performing staff members and see where others need improvement. Inventory Management With reliable retail POS solutions, you’ll be able to keep a close eye on all of your inventory. Each time a customer purchases a product, that product’s stock level will be automatically updated, ensuring you know exactly how much inventory you have at a given time and when it’s time to order more. You can also check your stock’s performance to determine best-selling items and optimize your retail floor. Customer Service Retail EPOS systems make it easy to serve your customers. By making the buying process faster and more efficient, you’ll reduce wait periods. Additionally, EPOS systems can help you tailor to your customers’ specific needs, bringing up data about past purchases and other info to help you better serve them. It also makes it easy to run customer incentive programs and offer special discounts for loyal customers. Increased Efficiency EPOS systems can drastically increase efficiency by cutting down the number of employees needed to track payments or stock shelves manually; the POS system does all of these things. These automated solutions reduce the need for relying on human resources, enabling you to save money on operation costs and focus your resources elsewhere. Let us be your retail EPOS system provider; contact Eurostop today! Do you want to improve your retail process, keep better track of employees and customers, and save time and money! If so, our team of retail EPOS experts would love to hear from you. To learn more about our solutions, contact Eurostop online today or call +44 (0) 20 8991 2700.
Five Things You Need in A Point-of-Sale System
A great Point-of-Sale (POS) system is a must-have for retailers of all sizes, particularly those looking to sell their goods online, as well as at one or more physical locations. However, there are numerous POS software packages on the market, and sorting through them can be a real challenge. How do you find POS software that will meet your needs today, while also being scalable enough to grow alongside your business in the years to come? It’s all in the feature set. These are all features you might not see in some POS packages, particularly older ones, but are necessary if you want to make the most of your investment. Five Must-Haves in Point-of-Sale Software Syncing online and offline activity You shouldn’t have to treat your online and offline sales as two separate entities. A modern POS software package should be able to handle both at once. Look for features that keep track of stock across all sales outlets, online included, along with robust reporting and alert features that keep everything consistent. Empowering your staff The easier it is for your staff to use your POS software, the better it is for everyone. Your employees will have better morale, and your customers will see better service. Every user should be able to log in with their own ID and have a customizable dashboard they can set up according to their preferences and workflow. An intuitive GUI is a must! Included training and support The last thing you ever want to see is a sale halted because an employee had to call for assistance. Your POS vendor should offer robust training and support options, either as separate seminars or – better yet – integrated directly into the product. If you ever do need to call for technical support, you should have many different options for how to do this. Marketing campaign integration Your POS will be one of your most valuable repositories of customer data, and you should be able to leverage that data for marketing. A top-tier POS software package doesn’t merely enable sales, it also integrates marketing tools which bring new opportunities to reach out to your customers. Supporting your business’s growth Finally, look to the future. How easy will it be to expand the POS system to new registers, or new locations? Can it support “pop up” short-term sales outlets, such as at fairs and expos? Does it utilize open technology standards, for easier modification over time? These are all highly valuable features. Eurostop With over thirty years’ experience and 100,000+ global users, Eurostop is one of the top POS software systems on the market! Click here to discuss your business requirements with us.
Meeting fiscalisation laws – Five questions to ask about retail EPOS systems
Increasingly retailers that wish to operate in multiple countries can face costly and legally challenging issues around managing different fiscal regulations. A crucial element in the fight against fraud, fiscalisation ensures that a retailer’s transactions are recorded and that the appropriate VAT is paid for a particular country (read in French here). When operating in two or more markets that use fiscalisation, help with compliance is crucial, as is working with a retail EPOS systems partner that has already achieved certification and processes to support the varied requirements. At Eurostop we have identified five key questions to consider when thinking of expanding your business overseas: Which retail POS should I choose? Choosing a POS system that can meet fiscal legal requirements, handle multiple currencies, yet has an easy to use interface for staff, is critical. Having a POS that is intuitive improves customer service and reduces training time for staff, important in an industry when staff levels fluctuate to meet seasonal demand. How do the related retail processes work? While it’s important to have a POS system that processes sales that meet local tax requirements, it’s vital also to consider how it connects to your other systems. Unified retail EPOS systems help managers view transactions and stock movements across the whole business, including multi-channel as well as in specific countries. You may also have different fiscalisation requirements that need to be considered, depending on the nature of the goods, or for example, if there is an instore café, where the transaction needs to be recorded in a different way. What reports are required by authorities? Each country has specific tax laws which require different reports. These may also differ across payment methods, for example, cash, credit, vouchers, currencies and internal international bank cards can all require different reporting. Working with a specialist retail software provider helps to identify what your requirements are right from the start and how best to achieve them. How are sales reported to the authorities? Some countries in Europe (Poland, Italy and Hungary as examples) enforce the use of a network connected, certified receipt printer which communicates directly with the fiscal authority. However, software-based approaches are increasingly being introduced to meet new regulations. These define a process, for which POS software providers must demonstrate compliance. Often these approaches mean that each transaction must be signed using a certification process provided by the tax authorities. The signature is formed using a number of elements, such as Register ID, receipt no, previous transaction, transaction date and time, amount, VAT amounts at applicable rates. This data is submitted to the authorities immediately via a secure web service, and once recorded, the customer is provided with a receipt. Because each transaction is signed and contains the signature of the prior transaction, it creates a traceable history which allows the detection of missing or altered transactions, helping to reduce fraud. How do I choose the right supplier? Choosing the right supplier with certified software that meets the fiscalisation laws can save a lot of time and costs. At Eurostop we have experience of working with many international retailers (including M & S International, FatFace and Trespass) and are experienced in software development to meet local fiscalisation laws. We have recently achieved certification for our retail EPOS systems, e-pos touch, to comply with French fiscalisation laws. With this certification it means that retailers can trade in France knowing that their POS complies with French fiscal law, (introduced in January 2018). To comply with the French fiscal requirements, we integrated our retail EPOS software with EFSTA (a leading fiscal software developer) middleware solution “Electronic Fiscal Registers” (EFR). Retailers will be able to show the tax authorities that they comply using certified POS software, and the transaction process is straightforward, secure and transparent to retailers and their customers. If you are considering expanding into new European markets, talk to us today on +44 (0)20 8991 2700, contact us at [email protected], or request a call back
Is TMS the answer to requests for Shopping Mall rent reductions?
Requests for Rent reductions Retail needs to reinvent itself to stay relevant, and more to the point, to stay in business. While the death of traditional retail has long been predicted, at Eurostop we feel that bricks and mortar retailers still have a lot to give, and if the most recent headlines are to be believed so too do the latest generation of shoppers, millennial Shoppers are becoming more discerning and looking for a better experience and to be entertained, shopping after all is a leisure activity. One area that could really help stricken retailers is a reduction in rents. Recently we have seen a spate of high profile retailers such as Ann Summers, Clarks and Monsoon Accessorize asking for, and receiving, reductions in their rents. Landlords have traditionally set rents as part of multi-year contracts or leases, with very little option for flexibility, and over the years, many retailers have invoked a CVA or gone out of business as a result. TMS – a win/win solution While lower rents would be good for the retailers, they are not so good for the landlord. However, there is an alternative model – one that we at Eurostop have seen at first hand powered with a TMS (Tenant Management System), operating with great success throughout Asia. In the Far East where the mega-mall shopping culture is still ahead of the UK, landlords charge a smaller ‘rent’, plus a percentage of turnover. This results in a flexible rent option that adjusts proportionally if a retailer is doing well, encouraging sustainability for retailers in the mall. Those retailers that are highly successful generate more income for the landlord, and it is therefore in the landlords own best interest to ensure that they have a prime location within the mall. Lower rents + commission = a better deal for all This model could work very well in the UK where for some years now, there has been a trend towards out-of-town shopping malls. Consumers are attracted by more up market food halls, restaurants and bars, and often other leisure facilities such as cinemas and bowling alleys. Better decisions supported by sales and footfall Successful shopping malls offer a mix of high-profile anchor tenants to attract large numbers of customers together with plenty of fresh, new brands to keep the shoppers interested and coming back for more. A Tenant Management System (TMS) can help landlords to gather information such as sales and footfall data across all types of tenant, enabling them to make fact-based decisions. The data can show the location of sales so that landlords can identify the busiest, most profitable locations, and so allocate pitches accordingly. With a TMS they can also track information such as sales value by floor and retail sector. This enables the landlord to optimise the space and meet demand, by offering successful and sought-after brands premium positions within the mall. In addition, having an overall view of sales means that landlords can see the result of specific marketing campaigns, for example, a promotion to boost visitors on mid-weekdays that tend to be quieter. More detailed analysis shows whether footfall increased and if sales increased as a result. By combining a fixed price element to the rent, with a performance related element, shopping malls are able to offer rents that are manageable, even for start-up businesses, and benefit when those brands become more successful. In this way, it is in the landlord’s interest to help market the mall to attract visitors, and a successful retailer is happy to pay commission when sales are good, knowing that during quiet times the rent will be lower which helps with cash flow. For more information, find out more about our TMS solution.
Christmas Season Guide to Retail EPOS Systems: How to Propel Your Business
During the festive season, retailers experience increased in-store traffic and online purchases, making streamlining the transaction process essential. That’s why many invest in a cutting-edge retail EPOS system with software designed specifically for their business. The team at Eurostop wants you to know there are a host of benefits to having the right EPOS solutions during the Christmas season, so they’ve shared some insight below. Here you’ll find some tips for increasing sales and why having the right EPOS software this Christmas is key! Set Up Christmas Season Loyalty Programs Using a retail EPOS system can make it a breeze to set up Christmas loyalty programs and offer special discounts during the festive season. You can use the customer information you’ve collected to tailor rewards specifically to their likes and purchase history, as well as offer one-time deals like Christmas season discounts and buy-one-get-one-free deals. Have Your Top Sales Staff Working During Peak Hours EPOS systems also offer employee management solutions, making it easy for you to schedule your top salespeople during the busiest hours. Additionally, EPOS software can enable mobile staff to perform transactions on the retail floor, as well as issue refunds and perform other services. If you’re not sure who your best salespeople are, your system can break it down for you with the employee sales data it’s collected in the months leading up to the festive season. Prepare for UK’s 4 Busiest Days There are some big shopping days in the UK. This year, the top four are predicted to be Dec. 7, the first Saturday in December; Dec. 14 (second-to-last Saturday in December); and the 21st of December, also known as Super Saturday (the last Saturday before Christmas). The day after Boxing Day, Dec. 27, will also be one of this year’s busiest shopping days. Create a Sense of Urgency One way to attract more customers is by making them worried they’re missing out on something. You can create a sense of urgency by offering express delivery to select customers or increased discounts to the first 50 who walk through the door on busy shopping days. Email Marketing Another great way to boost sales during the festive season is by doing a little email marketing. Sending out personalized messages to repeat customers offering deals or enticements can do wonders for bringing them back into the store during the Christmas season. It’s also a good way to share some of the exclusive Xmas inventory you have in stock. Eurostop can help make it a great retail festive season! To find out more about our inventory control and total retail POS solutions, contact Eurostop today online or by calling +44 (0)20 8991 2700.
How Retail POS Systems Help Manage Festive Season Traffic
The festive season is one of the busiest times of the year for retailers, which means increased orders and in-store traffic. With a large influx of foot traffic and increased sales online, it can become difficult to keep track of orders without a reliable retail POS system. As one of the leading POS software and hardware providers in the industry, Eurostop has helped many clients manage festive season traffic and generate big returns. Here are some of the leading benefits of having a POS system during the festive season. Increased Efficiency One of the biggest benefits of using retail POS software during the festive period is that it can be much more efficient than ringing up sales the old-fashioned way. If your store has increased traffic, using reliable POS software will help you handle that heavy influx of customers, enabling you to serve more people. You’ll also be able to process payments anywhere, which means more solutions for making mobile sales and more transactions on the retail floor. Improved Customer Service Another added benefit to POS systems is that they can help you provide customers the very best service possible. This is especially important during the festive season, when people are expecting a bit of cheer and great service no matter how busy your store might be. You’ll be able to reduce lines and minimize the chance that customers are going to go elsewhere due to extended wait periods. You’ll also have customer loyalty information to hand, for that personalized service and be able to provide them with a digital receipt for each purchase. Offer Special Deals & Discounts Many businesses offer exclusive deals and discounts to drum up customers during the festive season. Having the right POS system makes it easy to set up promotions for scannable items, ensuring that the promotion/discount is applied when staff ring up sales. This makes it easy to offer gift cards, buy-one-get-one free deals, and other enticements, all while ensuring transactions are processed as quickly as possible. Added Marketing Opportunities Providing staff the ability to go out on the floor of your store and help customers rather than stay behind a register can be beneficial. With a POS system that’s compatible with tablets, for example, they can help answer pricing questions and ring up customers right then and there. Additionally, having facing displays and interactive screens can also provide added marketing opportunities. Let Eurostop help you handle the festive season rush! If you want to provide your customers with the very best customer service this festive season, as well as give your staff all the tools they need to streamline the transaction process, Eurostop would love to hear from you. Contact us online today for more stock control solutions and EPOS info or call +44 (0)20 8991 2700.
How to Choose the Right Retail EPOS System for Your Needs
Running a retail shop isn’t always a walk in the park: there are inventory and ordering to keep track of, in addition to managing employees and ensuring that your customers receive the very best service. That’s why many retailers try and take a bit of the work off their hands by investing in a reliable retail EPOS system, like the ones available from Eurostop. Switching over to retail EPOS software can help streamline processes and keep better track of your inventory. If you’re considering installing an EPOS system, here are some tips to ensure that you choose the very best one for your needs. Know What’s More Important: Features, Cost, & Transaction Execution Choosing by Features For some, the final choice might come down to features; others, the overall cost of the system. When choosing your retail EPOS system by features, it’s important to know which ones you’ll need. Some of the mandatory features included in any retail EPOS software package will be inventory management and reporting, credit and debit card processing, delivery tracking, inventory breakdown by size and color (for shoe and fashion retailers), and customer and employee management solutions. For some retailers, separating your EPOS system from your stock control software may be the best way to keep track of your inventory and oversee all your sales processes. Choosing by Cost Cost may be an important factor when it comes to selecting an EPOS system. However, we recommend that you consider whether your selected retail system is going to support your future plans. Will it enable you to scale up your EPOS estate as you grow? Does it have the correct support service plans to enable you to operate efficiently now? Having an idea of how the overall installation and implementation costs are determined both over the short and long term will help you get the most out of your investment. Transaction Execution Another important consideration to make is how you want transactions to be executed with your new EPOS software. Nowadays, most EPOS systems will be equipped with a barcode reader to scan the item/s a customer is purchasing. Some systems may also employ a touchscreen in addition to a scanner. These accessories will impact how your staff process transactions so select the ones most efficient for your retail needs. Let us be your premier retail EPOS systems provider! Do you want to streamline your retail processes, keep better track of orders, and track purchases? The cutting-edge retail EPOS software and hardware available from Eurostop makes it easy. In addition to our EPOS solutions, we also offer inventory control services, eCommerce integration services, and more. Contact us online today or call +44 (0)20 8991 2700 to learn more.