The holidays can induce stress on your business if your point of sale system and payment process are not optimized for increased sales. Staying ahead of the curve and ensuring your business is prepared to process an increase in transactions will help reduce the stress. But what precautions should your business take before the year’s busiest season?
In terms of sales and foot traffic, Black Friday is the busiest holiday of the year. Coming the day after Thanksgiving, this is when businesses across the country offer their largest discounts. Many shoppers flock to stores in hopes of purchasing gifts or something for themselves.
Cyber Monday goes into effect on Monday after Thanksgiving. This is when businesses typically offer large discounts in their online stores. Instead of generating high foot traffic to physical stores, website sessions and transactions made through e-commerce gateways will increase.
Following these two holidays, sales will continue to maintain up until Christmas and New Year’s. Before the holiday season comes up, ensure your business is prepared to manage an increase in transactions.
When there is an increase in physical foot traffic and website traffic, it is imperative that your business can provide processing for a variety of different payment methods. Allowing customers to pay with additional methods expands your customer base and can improve the customer experience. Ensure your business can accept debit/credit cards, cash, digital wallets, and buy now, pay later (BNPL) options.
The holiday season can be hectic for both customers and businesses, which means clear communication is key. Use your point-of-sale (POS) system’s tools to send reminders about upcoming sales, promotions, or deadlines for online orders. Additionally, remind customers about store policies like returns and exchanges to prevent misunderstandings. Proactive communication builds trust and encourages repeat business.
Before the holiday rush, conduct a thorough check of your payment processing system. Ensure your POS hardware and software are updated and functioning properly to avoid downtime during critical sales periods. Test all payment methods, including tap-to-pay and online checkout processes, to confirm smooth operation. Partnering with a reliable payment processor is also crucial for handling high transaction volumes seamlessly.
Your staff plays a vital role in ensuring smooth transactions during busy periods. Provide them with comprehensive training on how to handle different payment methods, resolve common payment issues, and use your POS system efficiently. Well-trained employees can quickly address any problems, minimizing delays and enhancing the customer experience. Reinforce the importance of patience and professionalism, especially when dealing with long lines or high-pressure situations.
The holidays are a time for joy—make sure your checkout process reflects that. Streamline payment processes by minimizing steps and offering user-friendly interfaces. Provide clear signage for payment options and assist customers promptly if needed. For online stores, ensure the checkout process is fast, secure, and mobile-friendly. Small touches like festive packaging, loyalty rewards, or personalized thank-you notes can also make a big difference in creating a positive impression.
Long story short, ensure your business and its POS system are prepared to collect and process an influx of transactions during the holiday season. If you need help finding the right POS system for your business, get in touch with an expert from Coast 2 Coast Payments.
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