Category: Technology & Omnichannel

How to Speed Up the Checkout Process: 5 Tips for Ring Up Sales Efficiently

This is a post by Alexandra Sheehan. The brick-and-mortar checkout process used to be pretty standard across the board. Merchants would handle cash transactions, accept checks, or process credit card payments at a cash register. As retail technology continues to advance, it’s morphing the checkout experience in the process. And as ecommerce continues to stake its claim in retail, stores have to compete with the easy checkout process and online shopping experience offers. Let’s take a look at how you can make the checkout process a little quicker so you can capture a lot more sales. 1. Accommodate different forms

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These are the Types of POS Systems Best-Suited for Retailers (and How to Decide Which One is for You)

This is a post by Akshay Sachdeva A critically important investment for every retailer is an effective POS (Point Of Sale) system. It’s what allows you to be efficient in processing sales, managing cash flow, monitoring inventory, managing customer relationships and accept customer payments. Not only that but having a good POS system also helps you be more cost-effective. On average, a POS system can help retailers cut costs by nearly 10%. Since POS systems help retail businesses manage the heart of their operations, choosing the right one for your business becomes a vital decision. The right POS system will

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Everything You Need to Know About POS Terminals

For generations, the sweetest sound to a retail store owner was the “ka-ching!” their cash register made with every sale. The more they heard it, the better their day. Of course, a lot has changed in the past decade or so. Nowadays, the sound isn’t nearly as common. Fortunately, this isn’t a bad thing. That’s because the vast majority of store owners have replaced their old registers with POS (Point-of-Sale) terminals instead. Far from just ringing up sales, these machines are capable of carrying out tasks that empower store owners to reach new levels of success. What are POS terminals?

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5 Hot Trends in Food & Beverage Retail — and How to Keep Up with Them

As a food and beverage retailer, you have a lot going for you. For starters, your business likely sees high transaction counts per month. In Vend’s recent Retail Benchmarks Report, we found that beer & wine retailers process an average of 963 transactions per month, while beverage manufacturers and specialty food merchants see an average of 806 and 589 monthly transactions respectively. (The overall average for retailers in general is 482 transactions per month.) F&B retailers also see larger basket sizes. While most retailers have an average of 2.73 items per sale, F&B retailers have basket sizes ranging from 3.39

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How to Accept Credit Card Payments in Retail: A Complete Guide

If you’re not accepting credit cards in your retail store, you’re missing out on many sales opportunities. Consider the fact that as of 2015 just 32% of consumer transactions with made with cash, compared to 40% in 2012. We can expect this downward trend to continue as more and more people use credit cards and other forms of payment (e.g., mobile). For this reason, if you’re still operating on a cash only system, you should seriously consider accepting credit cards. Yes, there will be fees, but let me assure you: it is more expensive NOT to accept credit cards. You

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5 Retail Technology Trends Making Waves in 2018

This is a post by Akshay Sachdeva and Francesca Nicasio. The future of retail is something we think about constantly here at Vend. And we know that a big part of predicting the future lies in looking at retail technology trends that are making waves today. So for this post, we’ve compiled a handful of the top retail tech trends that are making their way into stores, ecommerce sites, and consumer’s homes. The goal here isn’t to hype up technology or convince you to adopt them all in your business. But you do want to keep these trends in your radar

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Collaboration in the Retail Industry: A Q&A with Chris Petersen

­The key to winning in today’s retail environment is to serve your customers in the best way possible. This means giving them the products they need at a good price, and then fulfilling their orders in the speediest and most cost-effective way possible. It’s a tall order, and the fact of the matter is, you can’t do it alone. To truly wow today’s modern shoppers, you need to collaborate, and leverage the resources of other parties so you can focus on what you do best as a retailer. But, how exactly can you establish these strategic partnerships? That’s what we’ll

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The Future of Retail: 14 Expert Predictions and Tips on How You Can Prepare

This is a post by Alexandra Sheehan What is the future of retail? It’s the question that every innovative retailer should be asking themselves. The rise of technology and big data have created a quickly changing environment with more and more competition. Thinking about what’s to come tomorrow and how you can prepare your business today is one major key to staying ahead of the competition. That’s why we asked 14 retail industry experts to share what the future of retail holds through their point-of-view. Here’s what they had to say: 1. Retailers will have to reach customers through storytelling

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How Much Do POS Systems Cost? A Guide to Point of Sale Pricing

Chances are, if you’re reading this post, you’re shopping around for a new point of sale system. Perhaps you’re still using a pen and paper or Excel to run your business, and you’re looking to upgrade. Or, maybe you’re dissatisfied with your existing POS and are looking for something that has better prices, features, customer support, or all of the above. Whatever the case, this post can help. Below we’ll shed light on the key numbers around pos system pricing, as well as the top considerations to bear in mind when budgeting for a solution. Let’s get started. How much

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22 POS Features to Look for in a Retail Management System

This is a post by Cara Wood. These days, if you’re on the hunt for a new point of sale (POS) system, you can get overwhelmed pretty quickly. There are hundreds of options online, each boasting all sorts of features. It can leave you asking yourself, “What do I really need? What extras will help me grow?” Allow me to help and walk you through the features you should be looking for in your new POS (and which extras will actually help you grow). To start, let’s stipulate that even if you’re running the banana stand from Arrested Development, these

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