Did you know that ensuring that your point of sale (POS) system receipt printing can increase revenue and decrease shrinkage? A little counter intuitive at first, but it becomes clearer when looked at closely. To clarify, when we say increase revenue and decrease shrinkage, we are pointing to two different matters. Naturally, decreasing shrinkage increases revenue, but we are referring to a new source of revenue from printing receipts.
POS systems have several functions when it comes to printing receipts. Each store has the ability to set the POS systems and thermal printer to print receipts or not. Many merchants have started to out of printing receipts. This is specially true of merchants who runs smaller amount transaction such as frozen yogurt stores, coffee shops, and pizza eateries. The reasoning is actually very sound initially since 1) many customers don’t want receipts, 2) receipts cost money to print, and 3) some end up on the floor as trash. All reasonable, but these cost factors combined are only a fraction of the money saved or potential revenue generated.
Here is how works:
1. Decreasing Shrinkage: The ability of employees to circumvent the system and pocket money increased when receipts are not printed. Therefore employees need to be required to print receipts, present it to the customer, and retain it if the customer does not want it. The math: If $10 per day is disappearing that is $300 a month. The cost of printing receipts is roughly $0.50 per day.
2. Increasing Revenues: Several types of incentives can be provided through receipts including 1) discounts to customers who come back within a prescribed timeline for a future purchase with the receipts, 2) survey, and 3) personalized messages informing of availability of gift cards.
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