As a consignment store owner, you need a top-of-the-line point of sale (POS) system to meet your business needs. However, that’s only one piece of the puzzle. From a retail standpoint, you also want your consignment store POS to share insights that will help grow your customer base for long-term loyalty and profitability. The more insights you have on your shoppers and commissioners, the more you can grow your sales.
Here are the top three insights your POS should share in your reporting to increase sales and find new potential customers and commissioners.
Location of Loyal Shoppers
One of the critical insights to look at in your reporting for your consignments store POS is the location of where your shoppers or commissioners live. You may wonder how you can use this information to your advantage.
Understanding where your market’s top supporters live helps you learn what cities, counties, or neighborhoods are thriving with brand awareness. Specifically, the neighborhoods with dedicated shoppers don’t need a lot of attention if you’re looking to grow your reach. When it comes to finding new opportunities for reaching new customers, you will save money by targeting locations where you don’t already have a base of customers and commissioners.
So, how do you use these insights when it comes to marketing and advertising efforts? One of the best ways to reach new potential customers is through targeted social advertisements. With Facebook ads specifically, you can choose specific zip codes you want to target. That way, you won’t waste money in the locations where you have dedicated local fans. Instead, you’ll grow your customer base to reach new guests.
Plus, when it comes to Facebook advertising—a little money goes a long way. With Facebook’s detailed platform, they will zero in on the individuals who would be most interested in your business based on their activity using the app. You can guarantee an ROI even with a small budget.
Age Demographics to Leverage Social Commerce
There’s a dated assumption that only baby boomers are keen on second-hand shopping. That’s not precisely the case. Your consignment store POS should share insights on age, which can help you better market to your target market.
If the majority of your clients are Millennials and Gen Z, leverage social commerce to your advantage. It turns out, Millennials and Gen Z are notorious for their love of second-hand clothing. From environmental reasons to economic reasons, this opens an excellent opportunity for your business. In fact, Millennials and Gen Zers are turning to secondhand buying at a rate 250 percent faster than other age groups. That said, if you don’t use your POS insights to market to these generations, you’re missing out. Ensuring you have a presence online and offline is crucial for your business in 2021. Plus, you can leverage the perks of social commerce like Instagram Shops and Facebook Shops. According to a post on Hootsuite, 130 million Instagram users tap on shopping posts every month. That’s a lot of potential customers who are looking for access to your brand.
With this data at your fingertips, it’s an excellent idea to have eCommerce integration for your consignment store to reach the largest audience possible. The best consignment store POS will have a simple eCommerce feature that can set up an online site with a few clicks. Setting up an online site shouldn’t be a complicated process. By utilizing the Internet and the right consignment store POS system, you can grow your business with ease.
Emails to Address Promotions and More
Your consignment store POS should have an option for a loyalty program. If it doesn’t, you’re missing out on potential emails to engage and target your customers. With a loyalty program integration, you can reward shoppers who already love your consignment store. Email marketing will nurture your current customers and keep them in the know of any new merchandise, sidewalk sales, special promotions, or seasonal sales.
You’re probably wondering how you can use email marketing to find new potential customers? Well, the best marketing is word of mouth, where loyal customers sing your praises to their friends and family. Use your database to send unique email blasts that encourage shoppers to refer friends for upcoming sales. For example, offer a promotion like “Refer a Friend for 50% Off Your Purchase.”
Not only will that bring new business through your door, but you will also have first-time customers become part of your loyalty program. That means more emails for your database that you can market to in the future. With the right POS technology, you can grow your customer base in more ways than one.
Get Consignment Store POS Support with Osprey Retail
Looking for the best consignment store POS for your business? Osprey Retail’s POS system offers unique insights to help you grow your customer base and market to them effectively. To learn more about what we can provide your store, contact one of our team members to schedule a demo today.