Researching articles for this weeks roundup proved extremely interesting. Learning about Go-Tags and the technology that comes along with it was amazing. The techniques outlined in the article about competing with the big box should be printed an hung on the wall of every small retailer, its great stuff! I also learned of a new concept for increasing revenue that I would have never thought of before. Enjoy this weeks retail and point of sale roundup.
1. Which Comes First, Stickers or The Phones? – “Go-Tags” is an interesting concept from First Data Corp. that will be available at some retail chains around the country. A Go-Tag is a contactless sticker that can be attached to mobile handsets for use at a point of sale. First Data Corp. has already made a deal with Visa to expand merchant acceptance in order to peak consumer interest.
CEO of product innovation Barry McCarthy hopes the demand will spur network operators and handset manufacturers to integrate the feature into future phones.
“We think we can kick-start this market.” he says.
It seems consumers were fast to accept the stickers and on average used it more frequently than conventional cards.
2. Panasonic broadens POS support – Panasonic has opened up its support base for their leading hardware platforms to add seven POS management software systems. This allows those software providers to offer their POS suite on Panasonic’s hardware including the new Stingray workstation. Read the rest of the article to view the seven POS software suites that will easily integrate into the Panasonic platform.
3. 5 Things Small Retailers Need to Compete with the Big Box – Great article for any small retailer that has faced the fear of a large retail corporation moving in on their territory.
“It is only the small merchant that can truly compete with big box.”
The list contains five things that you should do to beat out the Big Box competition. Be proud you’re a small retailer and remember customers love a personal touch.
4. Point-of-sale license issue aids hunters – Pennsylvania has jumped on the bandwagon that many states have already joined…POS Hunting Licenses! These hunters can now join the modern age by purchasing their licenses through a system the Pennsylvania Game Commission calls appropriately “Point of Sale”. The system will let hunters have a new smaller license that will be easier to obtain rather than the old large paper tags on your back.
“It will provide opportunities for the Game Commission to monitor license administration, license sales, create strategic business plans based on trend analysis and, most importantly, create marketing plans based on more accurate customer demographics.’’
5. Want to Increase Revenue? Reduce Your Inventory – When I first started reading this article I thought it was a backwards concept. As the article continued it began to make sense less on-hand inventory is a great way to increase your revenue! This is a must read for any retail business especially specific niche type stores. Grab a pencil and paper, follow the steps outlined in the article and you may be able to reduce unnecessary inventory to help with your overall costs.