From inventory management and financial operations to sales and promotions, everything in your store may appear perfect at first glance. But business operations are like a well-oiled machine, where even a single point of stagnation can dramatically slow down the entire system. For brick-and-mortar retailers, the most common bottleneck is often found at the point of payment.
Decrease shopping trolley abandonment
Studies suggest that shopping trolley abandonment in supermarkets typically ranges from 25% to 30%, or even higher. Long checkout lines are one of the main contributors to this high abandonment rate. Customers, especially those with full trolleys, can become frustrated with extended waiting times, which is a persistent challenge for supermarket operators.
Handle sales spikes without a hitch
Festive seasons bring a surge in customers and orders for boutiques, gift shops, grocery stores, and restaurants. While these periods provide an opportunity to impress consumers with a seamless shopping experience, they can quickly become a liability if checkout processes can't handle the volume. Enhancing customer engagement at the point of sale is critical, especially during high-traffic periods.
Integrate payment and management
No merchant wants to face the embarrassment of overselling, particularly when offering click-and-collect services. It can damage a brand's reputation if customers arrive to pick up their orders only to find that the item is out of stock. Real-time synchronization between sales and inventory management is essential to prevent these issues and ensure smooth operations.
Optimise the customer journey to boost loyalty
Market researchs show that brands utilizing loyalty programs can experience sales increases ranging from 5% to 20%. As a result, more merchants are adopting loyalty systems and gift cards, leveraging these tools to deliver promotional offers at checkout. Customers enrolled in loyalty programs tend to visit more frequently, resulting in long-term revenue growth. Since retaining existing customers is often less costly than acquiring new ones, a well-managed loyalty program can offer significant returns.
At Newland NPT, we've been at the forefront of payment technology for over 30 years, partnering with worldwide businesses of all sizes to help overcome payment challenges.
Tackle the challenges of growth with smart solutions from Newland NPT, and keep your retail business ahead of the curve! Our innovations, in collaboration with our trusted partners, address the unique needs of retail businesses, from local SMEs to international chains, offering a wide range of value-added services to enhance customer interaction and streamline payment processes. Whether supporting major international sporting events with hundreds of thousands of attendees or serving bustling supermarkets in Saudi Arabia, our solutions help merchants increase foot traffic and boost customer engagement at the point of sale.
As Newland NPT continues to lead in payment technology, we look forward to meeting customers and partners at the upcoming Paris Retail Week. Let's explore how our innovations can reshape the future of retail, and together, we'll achieve greater success in today's competitive market landscape.
Recommended smart devices for retail businesses
N950 series (N950, N950K and N950S), N750, P300, and X800
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Company Name: Newland Payment Technology
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Country: China
Website: https://www.newlandnpt.com/
