Tackling the scourge of double discounting
Despite the rate of change across the world of convenience and fuel retail, one thing that is unlikely to ever change is customers’ desire to chase down a bargain. Offers and promotions are still very much at the heart of retailer sales strategy, and with many offering a wider variety of products, this brings with it a multitude of increasingly complex deals to administer.
As such, it can be difficult to keep track, and one common frustration for convenience store and forecourt owners is the impact of double discounting, where customers end up with a greater saving and the retailer is sadly left short changed.
What is double discounting?
Within a thriving convenience store, you’ll be running countless promotions at any given time, so there is always the potential for a customer to fill their shopping basket with a range of products all subject to separate offers.
Double discounting is where the same product or group of products are included within multiple promotions, and multiple discounts are applied at once, inadvertently resulting in additional savings for the customer. One typical example would be a discounted soft drink which is also included as part of a meal deal offering and the customer receiving the benefit of both promotions.
Why is this an issue?
Although on the face of it this might not appear to be a major issue, every additional discount is eating into already slim profit margins and the lost pounds and pence can very quickly begin to add up. You might be surprised at just how much you could be at risk of losing without even realising.
Equally, with traditional POS solutions there is a huge reliance on individual cashiers to spot double discounts on their terminal and adjust accordingly, so even the most diligent of shopworkers could be prone to the occasional mistake, which over time could amount to a significant loss.
There is however a solution for retailers keen to eliminate this growing trend, and harnessing the right technology holds the key to achieving it.
evoPOS eliminates double discounts
We created evoPOS with the needs and challenges of retailers in mind. That’s why we included a best deal promotions engine to help remove the risk of the double discount.
When retailers are processing transactions that are subject to multiple offers, evoPOS will identify this and alert the cashier, who will then have the option to select which deals to include, and subsequently which to exclude. Alternatively, evoPOS can automatically apply the best promotion, stacking discount in favour of the retailer or the customer.
In short, double discounts can be eliminated in just one click, with complete visibility over multiple offers and the reassurance that you will always be alerted to conflicting product promotions.
To learn more about evoPOS and how it could help your store to tackle the issue of double discounts, get in touch with a member of the team.
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