Thrift stores contain varied and unique inventory, making them a completely different retail environment from many other stores. Budget-conscious and environmentally friendly shoppers love searching for the next best deal and hunting through the wide assortment of items. However, owning, operating, or managing a thrift store can present many challenges unique to the industry.
The right point of sale (POS) system is the key to smooth management and organization in thrift stores. If you don’t already have a POS system or are looking for a new one that will meet your needs, here are the top 6 reasons to implement one today:
Thrift store inventory is donated, unlike the typical retail inventory in other stores. This means that every item is a one-of-a-kind mystery, and you never know what you’ll get on your shelves. Depending on what your store accepts, you may get furniture, clothing, decor, toys, games, and more.
All of the varied inventory means that you’ll need a POS system with robust inventory management capabilities. A thrift-store specific POS system will allow you to track all of the inventory that enters and exits your stores. You’ll be able to categorize and label items in several different ways. Detailed reporting like mobile reporting, sales tracking, customizable items, and donation trend monitoring will allow you to have a better picture of what donations you receive and what customers want. Better inventory management and analytics will help you make better thrift store business decisions, like which items to discount quickly.
Many thrift store shoppers are very cost-conscious, so discounts and promotions tend to be very effective. It’s common for thrift stores to run discounts based on tag color or department, so any additional promotions can become complicated to manage. A thrift store POS system is the best way to manage several sales and promotions that will allow you to handle mixing and matching, quantity discounts, and much more.
Thrift store pricing can also get messy, and it’s critical for every product to have its price tag or bar code. With the right POS system, it’s easier than ever to generate price tags and shelf labels automatically.
Loyalty rewards programs are a great way to draw in customers, encourage repeat visits, and increase your average order value. Many other retailers have customer loyalty programs, and your thrift store should too. Birthday and anniversary rewards, frequent visitor discounts, and rewards for purchases entice customers to come back more often. However, keeping track of customer loyalty programs can be a big challenge for thrift stores. A thrift store POS system will simplify and streamline the process of customer loyalty programs by tracking sale information, printing coupons, tracking rewards, and more.
When your managers and store associates have effective technology at their fingertips, they can move from behind the counter to interact with customers on the sales floor. This mobility is incredibly important in a modern retail environment and is something that your team and customers will appreciate immensely. Mobile functions also make it faster and easier to manage special sales events like tent sales, because you can take your POS system outside with you. Any thrift store POS system you consider should support mobile functions so that you can present an interactive, engaging, and convenient shopping experience to your customers.
Thrift store employees have a lot to handle, and operations can be tough to keep in order. One of the best ways to improve your employee’s experience and productivity is with a seamless POS system for thrift stores. The comprehensive POS system will allow your team to quickly and efficiently categorize items, reducing the headache and confusion associated with pricing and processing donations. You’ll enjoy smoother operations and happier employees!
Increase in Revenue
All of the ways a thrift store POS system can benefit your consignment store ultimately lead to one big advantage: an increase in revenue. You’ll be able to keep your expenses in one place and review all of your revenue. You’ll not only simplify your operations, but you’ll also be able to see where the money is coming from and going to. Having this level of oversight will make it easier for you to cut back on costs where it makes sense and optimizes your revenue.
Features to Look for in a Thrift Store POS System
While thrift stores can greatly benefit from a point of sale system, not every thrift store POS system is created equally. To get the most out of your system and enjoy the many advantages above, you’ll need a POS system with certain features. Here’s what to look for in a thrift store POS:
The best thrift store POS system makes your job easier and less stressful. The POS system must have an easy-to-use interface that you can quickly train employees to use. You’ll be able to enjoy all of the beneficial features with a short learning curve so you can reap all of the advantages of a thrift store POS system quickly.
As thrift store operators know, price is not always an indicator of quality. When shopping for a POS system, you need one that’s affordable. Thrift stores compete with other retailers on price, meaning that it’s crucial to run efficient operations and keep costs down. The top thrift store POS will be cost-effective, delivering value to your store at an unbeatable price.
Mange High Business Volume
Your thrift store POS must be able to manage a high volume of business, as the volume is key for thrift stores to compensate for lower margins. Since thrift stores sell products for less and experience smaller profit margins, they must be able to do a much higher volume than other retailers. Additionally, it’s important to move items out quickly to make room for new donations and to ensure you have relevant, seasonal items available.
Overall, the best thrift store POS systems are created specifically for the unique needs of thrift stores. They’re able to support price labeling and pricing schemes that may be different from typical retailers, and their features are geared toward thrift stores in particular.
The Best Thrift Store POS System
If you’re looking for a thrift store POS system that offers all of the above benefits and features, look no further than NCR Counterpoint. We offer a comprehensive thrift store POS system that allows you to catalog products, train your team, monitor operations, track customer purchases, and review transactions. NCR Counterpoint powered by RCS simplifies your operations and helps you increase your revenue quickly and efficiently. RCS is that #1 NCR Counterpoint provider and thrift stores around North America have used our thrift store POS to increase sales, donations, and customer loyalty at their stores. To learn more about how our top thrift store POS can help your store, request your free demo today HERE.