In a new six-month series of ‘hands-on’ articles in association with PayPoint, SLR will offer a comprehensive, easy-to-follow guide to making more profit by leveraging the power of your epos system more regularly and more efficiently.
New technology has begun to truly revolutionise the convenience retailing industry in the last five years and that revolution is only likely to gather pace over the coming half decade. New technologies promise to allow retailers to achieve all sorts of exciting ways of growing footfall, sales and profits –yet one of the most powerful pieces of technology available today is already found in most stores: the EPoS system.
EPoS systems have evolved enormously in the last 20 years from being viewed initially as expensive luxuries to being seen today as indispensable tools in running a modern store in today’s complex convenience retailing environment.
While many stores operate to this day without any form of EPoS, that number is falling regularly as more and more retailers realise the benefits of having a system that can control and automate so many of the myriad tasks that must be carried out routinely every day if profits are to be maximised.
Indisputably, however, a significant number of those retailers who do have EPoS systems make regular use of only a very small proportion of their system’s functionality and capabilities. There are many valid and understandable reasons why this is the case but in today’s ultra-competitive environment it pays to make use of every weapon in the armoury to build a stronger, more robust and more profitable business.
That’s why we have partnered with PayPoint to build a six-month series of articles offering practical, hands-on advice for retailers on how to make more of their EPoS system.
Launched in 2016, PayPoint One is now the fastest growing EPoS platform in the UK convenience sector with more than 11,000 retailers now using it to help them save time, get valuable business insights and grow profitability.
Lewis Alcraft, Commercial Director for PayPoint, commented: “We’re delighted to have reached this significant 11,000 users milestone so quickly and that our retail partners continue to show a big appetite for adopting cutting-edge technology in their store.”
According to research by PayPoint and JWT (a division of Retail Connect), 46% of independent and symbol retailers view multiples as their biggest competition with 36% responding that having enhanced technology and a better understanding of their customers is their biggest opportunity for future growth.
Using a modern EPoS system and making use of all of its capabilities is a great step towards achieving that goal of future growth and we intend to help you do just that over the next six months.
We will demonstrate how you can make simple changes that benefit your business instantly and we will also tackle some more sophisticated challenges that will help you reduce costs, minimise administration, increase sales and, of course, improve your profits.
PayPoint Group Marketing Director Steve O’Neill commented: “Our goal is to help our retail partners reduce costs, save time and increase profits. Implementing a cutting-edge EPoS solution like PayPoint One can deliver instant benefits for retailers that they will see in the till and on their bottom line immediately and all with no upfront outlay.
“Over the course of this series of articles we will tackle a whole range of topics where PayPoint One can help deliver invaluable business insights that will help retailers make better informed decisions in key areas like ranging, pricing, stock management and promotions management.
“We will also be working with some of the 11,000 retailers who use PayPoint One to find out how they have used the system to reduce costs, save time and increase profits.”
This is the first in a series of six articles: