Internet Credit and Debit, what’s the fuss all about?

Up until 2 years ago fast authorization times for credit and debit transactions were left for the large retailers who could afford the high speed data pac lines or T-1 phone lines. The cost to put the T – 1 line or data pac line into business ranging between $ 800 - $ 1000, and the monthly fees for these could be as high as $200.00 per month.

For larger retailers the cost was worth it as they were able to reduce wait times at the tills, provide customers with better shopping experience, and move more customers through the tills. For small to medium businesses who would have liked to have had the same benefits the up front installation costs and monthly fees were cost prohibitive and would take a very long time to recoup the costs.

So what has changed?

The internet has now allowed small to medium businesses to benefit from high speed authorizations. Depending on your POS software selections transaction times can be quick as
5–10 seconds.

Internet credit and debit is affordable as well. Typically the monthly cost of business high speed line averages $60.00 a month. The bonus being if you have several lanes of POS you still only need 1 high speed connection.

Business owners report they are very satisfied with the new service and improved customer experience at the tills.
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From Singapore comes the Venue VBOX, a portable store in a shipping container, which can be set-up temporarily. Any place. Any time.

The VBOX enables a brand or company to follow an event they wish to align their brand with, or pop up where consumers least expect it. Tag along with a photography exhibition or set up shop temporarily at a large sporting event. Brands can even showcase items that consumers may not otherwise be able to purchase elsewhere: just fill the VBOX with one-offs or special editions and you’ll pull in consumers with the prospect that they’ll able to purchase something unique.

Is this the future? Click below on the link to read more.

V.NEW

Check out Wiffiti,a service that enables people to send text messages to large flat panel displays in venues such as cafes, bars and clubs. Messages sent to Wiffiti screens are also visible on the service’s website, encouraging people to text from anywhere and then watch responses from across the US, if not the world.

Check out the site by clicking the link

www.wiffiti.com

Opening next month in Nagoya, the Robot Mirai Department store will sell robots and robot accessories. The store is part of a complex that also houses Nagoya’s new Robot Museum, and its star product will be a 35 centimeter tall humanoid that goes by the name of Nuvo. Nuvo responds to voice commands, can be operated by remote controls and cellphones, and not only walks, but dances, too.

Heralded as the world’s first specialist robot shop and geared towards non-hobbyists, RMD’s high-tech look and ready-made products will no doubt more closely match their automaton fantasies.

Website: http://www.robot-museum.net/rmd

Crowd storm is a new way for consumers to find what to buy by measuring the buzz around products. Users recommend products, and the crowd defines the best products by recommending what they know and like. Good products go to the top of the list, weak products disappear:

Very different, I wonder if it will catch on. Check out the site by clicking on the link below.

Home - Crowdstorm

Benefits of buying brand name POS components

Customers investigating new point of sale systems have many decisions to think over. One of the most important decisions they will face is the choice of hardware to use. At first impulse, many customers will choose to base their buying decisions on price alone. Although a consumer should have a budget in mind when purchasing a new system, the evaluation should be based on the total life-cycle costs of the component from purchase to end of life.

Why is quality important

Customers should consider the brand name hardware being offered to them, rather then the entry level selections as a quality component will pay for itself during its life cycle. “You get what you pay for” has never been a truer saying when you are considering your hardware purchase. Tier one components are engineered for the demands of retail wear and tear and last on average 5-7 years under normal use, many last much longer.
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A recent article discusses the affects of Tobacco Manufacturers bypassing wholesalers and selling to customers direct. One customer I know says he will lose over 3 million dollars due to the situation. He was not sure long term how he was going to recover the lost revenue.

Download the article here and read more.

http://www.conveniencecentral.ca/images/imperial_tobacco.pdf

According to the article Toronto has launched a city wide wi-fi network, basically making the city one big “hot spot”. I wonder how long it will be before other cities follow suit.

Read more by clicking on the hyper link:

IT Business

This article from C-store magazine is very informative. It really gives the low down on the c-store market place and the problems many independants are facing as larger chains are moving in.

Certainly worthwhile to check out for some insight.

ConvenienceCentral.ca - Market Watch - The 2006 Gas/Convenience Report - Changing Realities Challenge Industry Players

There are times when we forget the basics when running a store. This article touches on some areas some stores may have either forgotten or neglected.

Click on the link to read more:

ConvenienceCentral.ca - Merchandise Right - Improving Your Customer Service