6 ways your POS can help you to make the most out of Black Friday.

Customers and retailers alike refer to the day after Thanksgiving as “Black Friday.” However, it might make more sense to give it the designation of “Green Friday” because of the vast potential for revenue it can represent for in-person and ecommerce sellers. Don’t wait until the last minute to optimize your selling space for elevated profits this year. Here are some suggestions that can get you started. They all work by harnessing the power of your point of sale system.

Start accepting mobile payments to draw in more customers

Already, over 2 billion people have used mobile payments at least once. In addition, the pandemic taught the world that online shopping was incredibly convenient and secure. As consumers in nations like India continue to adopt internet technology, this number will only increase. Failing to optimize your website to accommodate this trend will cause you to miss out on the flood of profits that could flow your way this November.

The ways people make online payments have also evolved significantly in recent years. More and more consumers are becoming comfortable with digital wallets that incorporate methods such as Apple Pay and Google Pay. Already, 49% of ecommerce sales are consummated with digital wallets. As buyers become more familiar with the technology, this percentage is sure to increase because of the speed, convenience and security of the mobile payments process.

Offer additional ways to pay so nobody is left out

The last thing you want to do is to lose a customer who is just about to make a purchase. Especially during the holiday season, patience is short. Consequently, you can minimize the likelihood of forfeiting profits to your competition by taking steps to streamline people’s purchases. For starters, talk to your payment processing company about broadening the scope of the payment methods you accept. In addition to credit and debit cards, your POS can also accept PayPal, Apple Pay, Google Pay, ACH, recurring billing and even cryptocurrency transactions.

If you are still using the same POS solution as you did a decade ago, now is the time to upgrade. This is particularly true if your current system has limited capabilities to take multiple forms of payment. Whether you operate online, in a physical store or both, your POS should be flexible and open to numerous payment forms, including contactless transactions for your in-person customers. If you have an iPhone that is synched with your POS, you can download the Payanywhere app to facilitate easy contactless payments that maximize security, speed your checkout line and leave you with a transaction record that can easily be accessed if questions arise or a customer wants to make a return or exchange.

Use mobile readers to accept payments anywhere

With a modern mobile POS, you no longer need to be trapped behind the counter and tied to a terminal. These days, you can harness the power and versatility of mobile readers, enabling you to have ultimate freedom in where you complete purchase transactions. On Black Friday in particular, your physical store can get extremely crowded with harried customers looking to make the most of every minute. With the help of your mobile POS, those long and frustrating lines at your register can become a thing of the past. Instead, associates can assist customers in getting product information as well as finalizing the purchase from anywhere in the store. Since an estimated 70% of shoppers are willing to pay more if their convenience is enhanced, adopting a mobile POS into your business has the potential to radically increase your sales while simultaneously reducing staff frustration.

Get real-time insights to help you spot your top-earning products

Your POS contains a gold mine of actionable data that can help your sales to skyrocket. Payanywhere’s systems, for instance, are configured to help you retrieve up-to-the-minute and past sales data that will reveal in just a few clicks what products have historically sold at this time of the year. Furthermore, it will show you what is flying off the shelves at this moment, enabling you to order just the right amount of inventory in plenty of time. Having this information at hand will also assist you in creating the best possible store and website layout that will magnify visitors’ exposure to your top items.

Use customer data to offer special loyalty rewards or discounts

The same POS databases that help you to improve your bottom line are also designed to enhance your customers’ shopping journeys. View your past sales statistics to learn who your top patrons are, and then use the system’s loyalty program tools to find ways to reward them for their frequent buying behaviors. Over 80% of the customers in one survey expressed the desire to have their Black Friday shopping experiences become more personalized, and that magic database that you initiate and maintain in your POS every time products are purchased can quickly become that vital link that will build your brand and even send referrals your way.

Keep track of inventory so you’re never out of stock

Add a barcode scanner to your POS, and you will instantly be able to keep a record in real time of every product you carry from the time it enters your warehouse until it leaves in the hands or the electronic shopping cart of your customer. Now that you are able to tally sales in real time, you will always have up-to-date details on the stock levels of each item. When you work with Payanywhere, your POS can even alert you when counts reach a preset critical baseline so that you can re-order in plenty of time to avoid needing to back-order or otherwise disappoint would-be buyers.

Your POS is equipped with everything you need to rise above your competitors this holiday season. With its built-in tools, you can reward your most loyal buyers, ensuring that they always get the bestselling products they want with no delays. What’s more, your system will help to facilitate a fast, convenient and flexible buying experience that accommodates everyone’s preferences.

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