Revitalize Your Retail Sales: New Year, New Strategies

As the clock strikes midnight and a new year starts, it's the perfect moment to reflect on the past year’s performance and set the stage for thriving business results in the new year. New Year's resolutions aren't just for personal growth; they can be powerful motivators for business success. Here is our list of 6 resolutions for retailers to bring in a successful year: 

1. Boost Your Online Presence and e-Commerce Capabilities

   More and more Canadians are turning online for their leisure activities, including payments being made for online activities. By offering alternative payment options this year like reloadable prepaid cards and gaming vouchers, your store will be prepared to handle these kinds of customer requests. Not everyone is comfortable using a credit card online and by providing these payment solutions in your store, you will start to attract additional customers, all while earning commission on every sale.  
   
   

2. Add prepaid products for business success

   Through our Now Prepay retailer program, you can gain access to a wide range of prepaid products such as gift cards, mobile phone cards, gaming vouchers and other financial products that can increase store revenue all year round. Offering products that your customers want and need, will not only create new foot traffic but create repeat business turning your store into a destination for loyal customers.
   
   

3. Prioritize Employee Training and Engagement

   Happy employees lead to happy customers. Make a resolution to invest in ongoing training programs for your staff and make sure they understand the value of the prepaid and alternative payment products you offer to your customers. Well-trained and engaged employees create a positive shopping environment and build customer loyalty. When training your employees make sure you also let them know that there is always an opportunity to upsell and increase your revenue with these kinds of payment products.
   
   

4. Optimize Inventory Management

   With Now Prepay’s automated gift card ordering you never need to worry about keeping track of your inventory and missing out on a sale. This ensures you have the right gift cards in stock at the right time, and keeps your customers satisfied with a well-stocked selection. A Happy customer is a loyal customer.
   
   

5. Embrace Technology for Seamless Transaction Experiences

   In the ever-evolving retail landscape, technology can be your ally. We understand the importance of having reliable technology that is fast and easy to use, which is why Now Prepay retailers get the state-of-the-art touch screen terminal for all their prepaid product transactions. The touch screen terminal is not only a terminal but a printer and scanner in one. Best of all it’s wireless, so you're not tied down by wires. We have technology solutions for all retailer needs, whether a single store or a national chain we have you covered.
   
   

6. Monitor and Adapt to Industry Trends   

   The retail landscape is dynamic, with trends constantly evolving. Make it a resolution to stay ahead of industry trends. Attend conferences like the Convenience U CARWACS Show or the Atlantic Convenience Expo, read industry articles like Convenience Store News, and keep an eye on what your competitors are doing. Staying informed will help you adapt and innovate to meet changing consumer demands.

This New Year, seize the opportunity to breathe new life into your retail store. With these strategic resolutions in place, you can capitalize on the revenue opportunities that lie ahead. Here's to a successful and revitalized year for retailers everywhere! 

If you would like to learn about Now Prepay’s prepaid program, and how we can help with the success of your store this year and every year, contact us today.