AZ Digitals Blog

Increasing the sales volume through POS systems is the ultimate dream of all the retail environments. This is while desiring higher and guaranteed results while investing in POS Technologies. The investments are irrespective of the size of the companies i.e. small-sized or medium. In Canada, the retail sector is highly competitive and demands high volumes of sales. This is primarily due to the huge amount of competition in the retail sector. Having said that, excellent customer service plays a huge role in increasing sales volume to more mature levels.

The customer’s expectations and demands are more linked towards the Quality assurance side of things rather than the technical aspects. However, we must not forget the role of customers as promoters of a business or technology. The customer feedback system, it is another vital aspect that is necessary. Taken in the retail sector as well as online shopping, its mandatory feedback system. Automatically, positive feedback will be the cause of an increase in sales volume.

Installing a POS system at your business is easy, however, what needs pondering is that how you will switch to the next level. More features in POS Technology will give your sales more boosts due to higher foot traffic.

The following are the ways in which POS systems can help increase your sales.     

Improving Efficiency Levels:

Improving efficiency levels is the best way to increase the sales volume to incredible levels. After the installment of the POS system, it automatically saves time for many things that you use to do earlier. It will save you time on paperwork, scheduling employees, accounting & inventories that are among other special functions in your business.

Ironically, you will have more time to focus on satisfying your customers and increasing the trust levels associated with your customers. Thus, definitely, the customers shall prefer to shop in your store the next time. 

POS systems accommodating Various Methods of Payments:

Another key element that can increase the sales volumes is using various different levels of payments. As a matter of fact, the payment method is a major factor that can influence high sales volumes for your business. Processing of payments through various payment methods is part of the integrated functionalities of the majority of POS systems. These modes of payment range from Visa Debit and MasterCard. Also includes, mobile payments e.g. Android and Apple pay among others. The variety of payment methods is a huge reason for the increased sales volume in the POS industry.

Processing of Transaction Receipts:

The receipts option is one of the most unique ways for the enhancement of sales volumes and increasing customer satisfaction. Most customers like to have automated & electronic proof of their transaction or in case a transaction is canceled or couldn’t get through. Many POS systems also request e-mail addresses and e-receipt is sent on the e-mail. Ironically, it is to make sure that customer satisfaction is guaranteed in every possible way. It is also one of the best marketing strategies, as it is a way in which customer retention is guaranteed. Furthermore, a relishing customer experience is an ultimate output. Thus, ironically increasing the sales volume in yet another comprehensive way.

POS Systems Speed up Transactions:

POS systems are the best way to increase the speed of the transactions and thus reduce the customer waiting time. Waiting in long queues can be a huge hassle for customers as they would never love to wait for long periods. Hence, a reliable POS system will definitely minimize the time taken for a transaction unless it’s a human error. Proper training with the POS technology shall definitely also help in reducing human errors to a higher extent. According to customer’s psychologies and most common results, most customers prefer to shop in where they will be served within the shortest possible time.

Help Build Rapport With Customers:

Building good rapport with customers helps in increasing the sales volumes whether you have integrated POS or not. However, with the integration of POS Technology into your business, rapport building can be easier and faster. Saving time is the most common way in which retailers make a good rapport with the customers while asking for cashback or offering them discount vouchers on card payments. An immediate feedback system makes customers feel more valued with business functions. Hence, it also creates loyalty automatically and customer loyalty is the building block in customer satisfaction.

Enabling Customer’s Feedback:

The Point of Sale system is designed in such ways that the retailers can have a shopping experience from customers in form of ratings. The negative feedback can easily be taken as a pointer for improving the areas where there is room for improvement. On the other hand, positive feedback will show business strength and how to keep maintaining the relevant standards. Hence, definitely building confidence in new and existing customers for future sales volume.

Creation of Sales, Gift Cards & Redemption:

The inclusion of gift card sales and redemption in your Point of System is yet another way of pleasing the customers and bringing an increase in sales. This will urge the customers to pop-in again to get discounts and redemption on the next purchase. The customer experience will enable them to love shopping at the store and thus, have a proper POS system for the management of Gift cards.

Therefore, gift cards are a unique way of attracting more customers to in-store and the shoppers will have a highly acknowledged shopping experience every time they pop-in.

As part of the health & Safety or HSE’s measures and potential warning regards to PPE’s that microwaving of the face mask has been marked as a potential hazard. PPE’s are Personal Protective equipment and include face masks, hand gloves, and other protective wear. This is necessary for prevention from the dangerous pandemic COVID-19. Hence, for other pandemics of similar nature as well. This is According to Ontario’s Fire Marshal Jon Pegg. A potential risk as it has been rated is pandemic the heating of a face mask for decontaminating it. A hazard that can turn into an accident. However, there can be alternative ways that are risk-free for people to avoid a fire.

Further according to the Office of the Fire Marshal and Emergency management. Resulting in overheating & catching fire, as the microwaves are designed to heat cloth materials. In form of potential fire hazards with the mask are the risk and warning associated. Equipped with a metal nose wire as they hold capabilities of fire.  Attached to the facial mask interior are the staples that are the main and most usual cause of the fire. Heating the face mask in a microwave is a huge cause of this fire hazard. The most recent stats also claim with readings between Jan 1 & May 4 that there have been fire fatalities in Ontario. These represent a huge 65% increase over the same time last year. Taken as future potential warnings, these stats are detrimental to the safe treatment of masks.

THE IMPORTANCE OF ‘HSE’ GUIDELINES FOR PEOPLE:

Nobody can deny the importance levels attached to HSE guidelines i.e. Health & Safety guidelines in place. Also, there are concerns with the risk levels for people. Attached in form of the potential risks that need minimizing. The risk-free ways of decontamination of face masks also include the application of a disinfectant or antiseptic for e.g. Dettol.

The other most used and prominent ways are recycling or using disposable face masks as the use of the masks has been made more common than was before. Health & Safety measures are an important treatment in the health & Safety industry and are given in writing in form of a report by any company. Guidelines for people are a set of procedures that needs to be taken care of while facing potential risks & hazards.

According to the fire marshal Ontario, it’s a reminder that fire safety is especially important and holds key values in place. This is particularly important during the pandemic COVID-19, as people are staying home and cooking as well. Further claims from the office include that people are currently unaware of any incidents. Hence, these incidents are related to the residents moving masks in Ontario.

However, they have significantly heard of claims and recommendations that face masks can be sterilized in different ways. Termed as a priority that needs to be avoided as well as a life hazard. For the benefit of the people thorough cleaning of the mask is much needed. This is According to the Chief Medical Officer of Health from the Province of Ontario. It’s not only awareness of Health & Safety that is provided to the people. Hence, it is also some intelligence quotient that is good for self-awareness. Self-awareness also includes being mentally sound about how to avoid potential hazards that can lead to the death penalty or injuries.

Is it Worthwhile buying a vacation property is a major question that everyone needs to ask. Especially, after the effects of the Pandemic, COVID-19 in the Real Estate sector in Canada. With family members & loved ones, considered as good time spending as vacations. However, the question that needs to be asked is, IS IT A GOOD DEAL?

The benefits of owning your own vacation property in form of a small cottage, or a nicely located home. Hence, it is always a beneficial idea in terms of enjoying the benefits. It will definitely help in providing a quick weekend charge for the next week. For family get-to-gathers, and relaxations, the holidays are needed for a busy & hectic schedule. Something that you can’t miss or ignore, as taken from an emotional point of view. However, what needs to be pondered are the financial implications, i.e. from a financial point of view.

As an example, we can presume that the Purchase price is $500,000. It doesn’t matter you use cash, or mortgage/ home equity, or a line of credit. Furthermore, a combination of payments, there are some other costs that need to be considered. If for instance, you have purchased it on money that you borrowed, despite the current mortgage rates being 2%. Therefore, in the long run, the interest rates are most likely to go higher. On a property that’s worth $500,000 there will be an initial cost, i.e. 4% or $20,000.

THE FINANCIAL PERSPECTIVES:

The financial perspective in this regard says that it might not be a good idea to invest. Hence, in times of the on-going financial crisis. A sympathetic situation that relates heavily to COVID-19. The costs can be even higher for those properties or cottages that are older. Hence, this includes a property with amenities and high fees.

What’s the Return on Investment for owning such a property, which can also be called as a cottage or an ideally located home far from the busy city? If we keep in mind the Bank of Canada’s 2% inflation target, arguments say a more reasonable long-term growth for real estate is 2% to 4%. The vacation property purchase might not be the best choice if financially manipulated and calculated. The best answer that the buyer must ask himself or herself is that can you rent a comparable property for less than $20,000 per year. Apart from other reasons, some Non-financial reasons are also associated with the add-on. These are associated with the purchase of the vacation property. Hence, these reasons are also related to leisure, luxury, and entertainment.

USING THE PROPERTY AS RENTAL PROPERTY:

Renting the property after buying it for some future income can reduce the net cost automatically. Hence, it can make the purchase more fiscally responsible. These are the tax implications if you do this, termed as a ‘Bad financial decision’.

Secondly, the rental income is taxable, and on the other hand, the renting out of a vacation property will also result in providing some tax deductions. Ironically, these deductions are based on the proportion of the year that the property is available for rent. Even, if you rent it for a period of six months after using it for six months then half of your eligible expenses will be tax-deductible. Hence, the decision is not worthwhile from a financial perspective and can result in losses that can damage your long term financial stability.

IS IT A GOOD DECISION?

Therefore, it’s best to do some basic maths involved, using your own numbers try to figure out the net cost of the property. Also, if you rent something comparable for less, only consider the option as the best one if there is affordability without compromising on other financial goals. Your basic and sustainable financial goals mustn’t hurt your decision to buy a vacation property, as your Pay-back period can considerably rise for such a non-lucrative investment.

However, when the financial crisis is over, and tourism rises, the decision can turn out to be a good one. This also depends on your mortgage term, costs, & percentage.