CollectivePOS helps small merchants get ready for a 'Green' Christmas
December 1, 2005 - The holiday shopping season has become an increasingly crucial time for retailers who are positioned to bring in a substantial portion of their annual revenue. However, many independent and small-chain merchants will find themselves unprepared to accommodate potential customers' payment needs and are at risk of falling short of their earning potential.
According to Ernst & Young(i), the pre-holiday shopping period will bring in approximately $50 billion in sales for Canadian retailers; that number accounts for 18.4 per cent of Canada's annual retail revenue(ii). Furthermore, 70 per cent of Canadians will choose credit or debit cards as their preferred method of payment(iii) for holiday purchases. With 53 million credit cards and nearly 20 million debit cards in Canadian circulation(iv), it is in retailers' best interests to accept all forms of electronic payment.
"A significant portion of annual retail spending occurs in the 60 days leading up to the holidays, with 70 per cent of all purchases made by debit or credit card," said Michael Back, President of Collective Point of Sale Solutions. "With such huge earning potential, merchants can simply not afford to lose sales due to the inability to offer customers their preferred method of payment and to process those transactions quickly and securely."
Collective Point of Sale Solutions (CollectivePOS) helps independent and small-chain merchants to increase profits by offering a variety of wired and wireless point-of-sale terminals available for lease or purchase. With the ability to accept any major credit or debit card, merchants will never have to turn down a sale. Holiday line-ups will flow easily with faster transaction times, translating into more sales.
CollectivePOS provides customers with the latest technology, performs transactions in less than half the time of some financial institutions - in approximately three seconds - and reduces costly charges for phone service. All software upgrades can be completed remotely and are free of charge. Combined with 24x7 technical support by phone and four-hour on-site service in the event of any technical issues, CollectivePOS strives to eliminate downtime for retailers, so merchants are always operating at full efficiency throughout the holidays.
"Without the ability to accept debit or credit cards, we were turning away many potential sales. That's just unacceptable heading into the holiday shopping season," said Stephanie Martin-Smith of Deep Waters Music, a Mitchell, Ontario retailer providing musical instruments, equipment and lessons. "Now with services from CollectivePOS, not only are we adding more convenience for our regular customers, but we're facilitating walk-in customers and encouraging repeat business."
CollectivePOS understands the needs of independent and small-chain merchants and provides them a vehicle to increase sales and profits while keeping money invested in their businesses. Merchants will also operate with greater efficiency due to a variety of ASP management and comprehensive reporting services made possible by the company's IP-based, open-system platform. In just one week, even retailers who often have difficulty establishing credit with major institutions can find themselves ready for success throughout the holiday season and the year ahead. |
