The checkout line is often seen as a tiresome experience. But for savvy retail businesses, it poses a prime opportunity to capture shoppers’ attention. With strategic point of sale promotions, retailers can drive further engagements, encouraging additional purchases and future visits.

The in-store environment, including the checkout, has been shown to vastly influence buying behavior. As per Marketing Dive, a shopper engagement study involving over 3,000 participants revealed that 82% of purchase decisions are made in-store, with 62% being impulse buys.

From tempting last-minute offers to rewarding loyal shoppers, smart in-store promotions at the point of sale can consistently drive higher engagement, boost revenue, and foster lasting customer relationships. Let’s explore effectively leveraging this crucial stage with innovative retail marketing strategies.

We’re in the Modern Era of the Point of Sale

Gone are the days when the point of sale (POS) was solely a tool for ringing up sales. Once reliable, traditional, monolithic POS systems now reveal their limitations in meeting the demands of modern retail, especially now that consumers seek personalized experiences and relevant offers.

While payment processing remains a core capability, modern POS systems have evolved into multifunctional hubs to keep up with these changing expectations. Now, they empower retail associates to view and manage global inventory in real-time, track customer insights, and execute targeted point of sale promotions and loyalty programs.

With a cutting-edge POS system, retailers can deliver the personalized in-store promotions that today’s shoppers expect and deploy clever retail marketing strategies at the final point of contact to encourage impulse purchases.

Why Smart Point of Sale Promotions Matter for Retail Businesses

Engaging customers at the checkout with well-implemented point of sale promotions has numerous benefits. Firstly, they capture immediate buying intent right at the transaction point, encouraging impulse purchases and increasing the average basket size. The immediate incentives lead to boosted sales while also helping clear out old inventory.

Moreover, rewarding customer loyalty means solidifying brand presence and encouraging repeat business. According to BIA Advisory, returning shoppers spend 67% more on average than first-time visitors. By adding unexpected discounts and special offers at the last moment, in-store promotions help retail businesses engross more customers, turning them into loyal patrons.

As mentioned earlier, monolithic POS solutions of yesteryear lack the flexibility needed to set up agile, personalized promotions. Modern systems equip retailers with the tools to capture valuable customer data and refine their marketing tactics accordingly.

Stop Leaving Money on the Counter – Smart Promotions with Veras Activate.

9 Types of Engaging Point of Sale Promotions

Retail stores can employ a variety of tried-and-true point of sale promotions to capture customer attention at the checkout successfully:

1. Discounts and Coupons: Offer immediate price reductions, either as a percentage off or a fixed amount. These can be applied through easily scannable digital or physical coupons.
2. Buy One Get One (BOGO): Incentivize customers to purchase more by offering a discounted or free item when they buy another.
3. Flash Sales and Limited-Time Offer: Create a sense of urgency and encourage immediate purchases with discounts available only temporarily.
4. Personalized Offers: Leverage data from your POS system to offer targeted discounts or recommendations based on a customer’s purchase history or loyalty status.
5. Tiered Pricing: Motivate customers to increase their order value by offering greater discounts as they buy more items.
6. Bundle Deals: Increase the average transaction value by combining complementary products and listing them at a special reduced price.
7. Gift Cards: Encourage future sales and drive word-of-mouth marketing by offering gift cards to new customers for purchase at the checkout.
8. Upsell Prompts: Suggest complementary or higher-value items to customers at the point of sale to increase the order value.
9. Bounceback Coupons: Encourage repeat visits by offering customers a coupon or discount that can be used on their next purchase.

Leveraging Veras Activate for Advanced Promotions

To maximize the impact of in-store promotions, today’s retail businesses need to move beyond introductory discounts. As discussed above, such varied point of sale promotional tactics employed at the checkout allow retailers to fulfill customer expectations and increase sales. However, seizing this opportunity also requires overhauling your existing price management system.

This is where state-of-the-art solutions such as Veras Activate take the lead. Our enterprise-grade system provides centralized management for executing super-effective promotions at the POS and online, be it setting up spend-and-save deals or triggering upsell prompts directly at the checkout.

With Veras Activate’s ability to deliver personalized promotions using real-time CRM data, retailers can target offers to their most loyal customers. Furthermore, it integrates robust tools to prevent coupon abuse and generate serialized coupons for enhanced tracking. Retailers can minimize errors and ensure their promotions run smoothly by simulating and monitoring price events.

Request a demo today – let Veras Retail make your retail marketing strategies stand out and be a whole lot more successful!