People with a sense of style and a gift for customer service tend to do very well as owners and/or operators of clothing stores — and mobile payments can help them to become even more profitable.
If you run a clothing store, here are a few ways that your business may benefit from mobile payments:
1. Make more sales during peak hours. If you’re holding a big promotion or sale, you’ll want to enable as many transactions as possible during its run. Having one employee (or more) process credit card payments on a mobile device while another mans the cash register can help you accomplish that while reducing wait times for customers.
2. Understand what customers want. The easy-to-use apps available from mobile-payment providers let you quickly determine which garments your customers are buying. You can then adjust your inventory accordingly, without wading through reams of sales reports in the back office.
3. Promote credit card use. Studies show that people often spend more money when they shop with a credit card instead of cash. Giving customers another way to use their plastic can boost your bottom line.
4. Do away with pens. What’s the last thing your employees need to be doing while processing transactions? Looking for pens with which customers can sign credit card slips. Mobile payment apps let buyers authorize transactions by signing a touchscreen with their finger.
5. Study customers’ purchase histories. Mobile-payment software tracks what customers buy over time, so you can see what they’ve purchased. This knowledge could help you suggest similar garments or accessories that complement clothing the buyer already owns.
6. Facilitate off-site sales. Many clothing retailers rent booths at craft fairs, festivals, and other public events. Mobile-payment systems are fast becoming a popular means of processing credit card transactions at remote locations. Your smartphone or tablet device can eliminate the need for a bulky (and more expensive) card reader or even a cash register.
7. Encourage impulse buying. Impulse purchases are an important part of clothing store sales. The odds of impulse buying go up when a customer knows that he or she can easily pay with a credit card.