Beware of Asset-Based Loans, RFID Technology, POS Features That Need to be Utilized, Point of Purchase Displays

Advancing technology has become one of the most talked about topics in the retail industry. This week we bring you more information on the use of RFID with mobile coupons and the first software driven drink dispenser. Also included is some sound advice on asset based loans, features you should be using with your point of sale that most likely you’re not and the power of POP displays.

1. The Dangers of Asset-Based Loans – Excellent article that all small retailers need to read because it concerns them the most. Getting caught up in an asset based loan can be an easy way to obtain fast cash for operations, but it has many dangers. An asset based loan is determined by your available inventory and it’s possible that if your inventory falls below a certain level you will have to start paying large chucks of cash back to the loan company. Another issue is that the value of your inventory is based on “liquidation” price not retail value.

An asset based loan may not be a bad choice in every situation, but it must be evaluated carefully. Read this article carefully and then base your decision on the knowledge you gain.

2. Dairy Queen tests stickers for targeted mobile coupon campaigns – Dairy Queen has teamed up with Tetherball to bring customers mobile coupons using RFID technology and stickers. The sticker or “tag” is affixed to the customers’ mobile phone and they activate it by sending a text with the ID number on the tag to the control center. Every time they make a purchase they are uniquely identified at the point of sale terminal and they can be sent promotional offers based on past purchases via SMS text messages or mobile coupons that can be redeemed in the store.

Jay Highley, the COO of Tetherball states:

“Mass adoption of mobile marketing using barcoded coupons just hasn’t happened because it’s far too complicated with a plethora of technical and user issues at the point of redemption,” Highley added. “Our solution doesn’t use mobile coupons with barcodes, or for that matter, require any type of mobile screen visuals to redeem offers.

3. Coke’s RFID-Based Dispensers Redefine Business Intelligence – RFID, which stands for radio frequency ID is truly amazing technology that Coke is putting into place for their new software dispensers. This may be unattainable to most small retailers, but with all technology the time will come that it will be an affordable, norm solution. Understanding the incredible features and implementation now will put you way ahead of the game when that time arrives.

Coke’s new Freestyle drink dispenser will contain 30 cartridges that will mix up to 100 varieties of sodas, juices, teas, and flavored waters. Each cartridge will contain an RFID chip that will send data back to the company giving them important data on customer preference and even if the dispenser is low and needs to be refilled.

4. Five underutilized features of the modern POS – James Bickers at the retail customer experience provides you with the five things you should be using your point of sale for that more than likely you don’t. These features may be the most ROI-rich capabilities. Do you use your POS for suggestive selling, remote management or data mining and product assortment? Head on over and read this article for tips on improving your overall profit line.

5. POP ism!! – Extensive and informative article on the effectiveness and use of Point of Purchase displays. The author describes two basic types of customers and the impact that numerous POP displays can have on their decision to by a product. Described are the elements of effective visual merchandising as well as options for point of purchase displays. Did you know if you have a large window in the front of your store that can be the best source of POP there is? Learn more in this strategic information packed article.