eCommerce is booming and it shows in consumer buying habits. According to a survey, 79% of consumers shop online to find the best prices. Consumers want more choices when it comes to pricing and they expect an easy checkout especially when online. If you have both a brick-and-mortar and online store, you can combine these two revenue streams with the right strategy and an integrated payment platform.
Offer Free Shipping and In-Store Pickup
You may have heard of window shopping, but showrooming is unique to the digital age. “Showrooming” is shopping in-store before purchasing the same items online for a lower price. This puts online retailers at an advantage because they can incentivize customers to shop with them using free shipping. Offering customers the option to ship a bigger item can keep your customers in your store instead of going to a competitor.
Opposite to showrooming is “webrooming.” Consumers research a product online before purchasing it in-store for a lower price. Consumers are looking for the best deal, so expensive shipping costs can be a dealbreaker. But there’s an easy solution. You can offer free in-store pickup to keep them from abandoning their cart in favor of a competitor.
Integrate Your Inventory Management
Integrating your inventory management completely streamlines operations between your brick-and-mortar and online stores. Integrated payment platforms, in particular, have unique capabilities for reporting on inventory. They can also automate your reordering so you don’t run out of a popular product.
Integrated inventory management provides peace of mind and efficiency between your two stores. You can easily and consistently anticipate costs and cash flow for both of your stores. And by using an integrated platform, you can also view your sales trends from a single dashboard for your convenience.
Analyze Foot Traffic and Website Traffic for Better Sales
You can combine Google Analytics and your merchant platform to execute effective sales and online promotions. Some platforms will offer hourly sales data. This allows you to study the foot traffic based on sales volume to determine what day is ideal for promotions.
For example, Saturday might be the best day at your brick-and-mortar store for a sidewalk sale. But an online flash sale could be most effective if it starts on a Friday night. With both promotions running, you can attract customers to both of your stores and capitalize on the weekend. And with an integrated payment platform, you can still monitor sales from both of your stores from one place.
Add a “Shop Now” Button to Your Store’s Social Media Page
You can extend your online store’s presence on social media, especially on Facebook. If you have a Facebook Page for your brick-and-mortar store, you can add a “Shop Now” button to direct visitors to your website. You can also promote your sales on your pages and to all your followers. You can debut new products on your page, stream events, or add product videos to your page and direct people to your online or brick-and-mortar store.
Unify your revenue streams using an integrated payment platform and the right strategies. Your online store extends your brick-and-mortar store’s presence, so it’s natural to collaborate the two to stay on top of sales. An integrated payment platform can provide the visibility you need as a business owner to make quick decisions on inventory. It’s a great solution for managing more than one brick-and-mortar store. This includes the ability to see your multi-location data from one platform.
We never add hidden charges or fees just for the sake of profit. Interested in seeing how Fattmerchant can help your business reduce costs and increase savings immediately? Reach out to Fattmerchant today to find out how your business can quickly save on credit card processing fees.
Fill out the form below to request a free savings analysis. Find out how much you can be saving.