Convenience stores have straightforward goals: they want to live up to their name, ensure happy customers, and increase their level of success. For business owners, offering the necessities to customers who are traveling, commuting, or otherwise pressed for time should be a top priority. Nevertheless, convenience stores won't be able to deliver the service they're known for without a modern, robust point-of-sale business payments system.
Choosing from what seems like an endless list of POS options can be a daunting task, whether you're looking to upgrade your outdated equipment or searching for a point-of-sale solution for your new c-store. Any store, new or old, needs the appropriate POS. Your POS system is more than a payment mechanism. A good POS system can also quickly provide correct data. Which POS system is best for your store? It's not hard to find a new or updated POS system for your organization. Here are our top convenience store POS tips.
Selecting a POS system requires an informed business decision. And, the right POS has key benefits. It can provide detailed sales reports, improve your day-to-day business processes, fine-tune inventory management, contribute to your credibility with customers and customer communications, improve inventory records and inventory tracking, enhance efficient customer service and customer experience, report data on daily business activities, prevent burnout for business owners, aid comprehensive business functions and your business roadmap, help business growth, as well as guide the long-term success of the convenience store.
This article provides expert business tips on what to look for in a convenience store POS system, how to choose the right POS system, and why you should choose a POS system for your convenience store so your busy customers keep coming back.
Without a positive customer experience, the crucial business operations of a convenience store won't live up to expectations—especially to the customer. You can satisfy customers in a number of ways, namely superior customer service, but a POS system is also essential to support your customers at your convenience store. Customer satisfaction increases with faster and more accurate orders, like when self-service technology such as touch screen kiosks or fixed tablet POS are integrated.
Congestion can be kept to a minimum at the gas pump by using POS units. This reduces wait times and maximizes foot traffic to your convenience store. Ensure your POS can expedite processes with zero downtime at a traditional checkout, perhaps the most critical point in your convenience store. This will make your store truly convenient for your customers.
Ensure your convenience store POS system comes with the right business tools and supports multiple payment options, including contactless payments like Apple Pay and Google Pay, as well as payments made with EMV and credit and debit cards, in addition to providing quick service. It’s important to give your customers a choice of payment methods to increase your potential for sales.
Owning a convenience store is a time-consuming business, and it’s easy to lose track of crucial inventory information and stock management. Even one oversight within conventional inventory control could result in under-ordering merchandise, leading to a loss of essential sales revenue and frustrated customers. With thousands of products delivered weekly, it’s essential to invest in a convenience store POS system that will streamline operations and maximize efficiency with intricate inventory management support.
With access to real time data and inventory management, your POS can help you reduce inventory costs and out-of-stock merchandise, at no extra cost. A projected stock inventory calculator provides the benefit of access to detailed estimations of the time taken to exhaust some items so you always know exactly how to find a balance between current stock and incoming stock. Additionally, a purchase order calculator can predict the amount of stock that will meet customer demand.
The POS system for your convenience store should have multi-store capabilities so your business and profits can expand along with it, regardless of how many locations you currently have or plan to open in the future. It's impossible to be everywhere at the same time when you own multiple locations. So, your POS' capabilities across multiple stores come in handy. Easily keep track of all your store locations from a single dashboard, including sales, reporting numbers and product tracking.
With all of your store management information in one place, it’s always accessible in case of an emergency, even if you're at home. To make better business decisions, having access to reporting for each convenience store location on your roster will help you compare which processes are working well and which processes need improvement.
You’ll probably want a traditional set-up with a full-service POS for your convenience store. Consider countertop POS systems, which are available in various sizes and take less space than traditional cash registers.
A single terminal is sufficient for most convenience stores. If you have a larger space or deal with variable amounts of traffic, having more than one terminal can help you handle the extra load. Remember: faster service means happier customers and more sales per hour.
In choosing a POS system for your convenience store, you need to consider many things, such as:
When selecting a POS system for your convenience store, keep budget in mind. A typical cloud-based POS pricing model includes a base price and a per-store or per-customer cost based on the number of stores, customers, products, terminals or other factors.
Determine which tier offers the best return on your investment by examining each one in detail. You should also consider the processing fees that come along with it.
The size and type of your convenience store will determine the type of hardware you need. If you operate a small convenience store, you may need a tablet, card reader and cash box. However, if you have a larger operation, you may need terminals, receipt printers, barcode scanners, or more.
Because POS systems are only as good as their software, it's imperative that you compare all of your available options and determine which one is best for your store.
What other tools, apps and software do you use in addition to the point-of-sale system? There are a lot of services out there that have proprietary software that forces you to exclusively use their products. It's a good idea to look into POS systems that work well with a variety of third-party vendors.
The safety of electronic payments is critical. This is especially important for small businesses, as nearly 43% of all cyberattacks target them.
Any potential POS system should meet Payment Card Industry (PCI) data security standards (PCI). End-to-end encryption and data tokenization are vital features to look for in a payment processing solution.
Whatever your level of technical expertise, access to customer support is critical. Look for a POS solution that offers 24/7 email, live chat, and phone support if you have problems or need assistance setting up the system.
The POS system should not require a software professional to install and operate. It needs to be simple to use for the average person. You should be able to use your POS system without consulting the manual or contacting customer service every time something goes wrong.
Is the system capable of automating tasks and reducing manual input? Data from your logistics and supply chain can be used to update inventory and order information with a good POS solution.
You must continually be planning if you are a business owner. Consider your projected growth rate and use that to help determine your long-term POS requirements. Be sure to ask yourself the following questions before settling on a POS system:
With most POS vendors, you can try out the software through demos or free trials so you can examine how the entire system works, try out new features, and see what they have to offer.
Make a list of any issues you encounter, as well as the features you like and dislike. Give the supplier a heads-up so they can address your concerns.
Find out what POS system other convenience stores and experienced merchants use after you've reduced your options to a short list. Alternatively, you may inquire about the challenges of the POS system used by other convenience stores.
You should consider a POS system for your convenience store because it can help you:
BNG Point-of-Sale are POS solutions that improve your bottom line. With a full selection of POS systems for various businesses, including convenience stores, you’ll find the right tool to grow your business with the personalized support you need. Connect with us to learn more.