Running a gift shop can be a real challenge. You want to provide an eclectic mix of products yet establish a distinct brand identity. You want to cater to specific tastes, but you don’t want to standardize your inventory, because you’re always looking for ways to bring potential new customers into your store.
Mobile payments can help you achieve all of these goals. Here’s how:
1) They encourage impulse buying. If customers see something they want, they’re much more likely to buy it if they can simply grab their smartphone instead of fishing for cash or their credit cards.
2) They encourage credit card use. Studies show that credit card purchases are larger on average than those made with cash or checks. Because mobile payments use credit card accounts, that means a bump in the bottom line for your business.
3) They’re a godsend on high-traffic days. If you sell greeting cards, chocolates, or other all-purpose gifts, you’re likely to be popular on or around Valentine’s Day, Mother’s Day, and other holidays. Give an employee a mobile payments device to speed up the checkout line. Your customers will remember that.
4) They eliminate the need for pens. It’s Murphy’s Law: There’s never a pen on the counter when you need one for a signature on a credit card slip. With mobile payments, customers can sign with a finger on your smartphone’s touchscreen to complete purchases.
5) They help you identify hot sellers. The mobile payment software can display what customers are buying, so you can make the necessary inventory adjustments more quickly.
6) They simplify loyalty programs. It’s not uncommon for customers to forget their discount “punch cards” at home. Mobile payments allow them to keep track of rewards programs right on their smartphones.
7) They enable you to hit the road. No more hauling out a bulky cash register or credit-card terminal to a craft fair or festival. All you need is your smartphone and a card reader to process credit card payments on-site.
8) They make deliveries easier. Someone finally bought that large item in your store. Why don’t you offer to deliver it to the customer — and bring your mobile payments device with you to handle the transaction?
9) They can combine scanning with payment processing. If you like, you can set your smartphone up to read QR or UPC codes. Keep a print-out of the shop’s most popular items and their codes handy to save time for you and the customer.
10) They help you get to know your customers. You can easily view a customer’s purchase history with mobile payments software, so you can suggest a similar gift or inform them when your next shipment of their favorite item comes in.