CBE Software international product manager Kevin Greene said several key advances from retail are overlapping into the pub and bar arena, giving operators the chance to take advantage of the latest advancements in sales and stock management.
He had the following tips for licensees on how pubs can learn from the retail industry.
According to CBE Software, British retailers lose £1.4bn thanks to busy checkouts as customers don’t want to wait and so the sale is lost. In pubs and bars, operators should be utilising a modern, integrated EPoS system, which easily copes with peak demand by merging card payment systems with tills.
This speeds up service as front of house staff do not need to switch processes to handle transactions when serving - so increasing customer satisfaction.
2. Self-service satisfaction
Self-service tills are widespread across the retail sector thanks to the fact they reduce waiting times and increase turnover.
Pubs and bars looking to grow footfall and sales are missing out by not adopting the latest technology, allowing customers to use self-service kiosks or tablet-based ordering systems to place and pay for food and drink.
An integrated EPoS system can help licensees manage price and margins more effectively. Prices can be changed according to the time of day, such as lunchtime and evening menus.
It also ensures operators only need to enter a dish into the system once for it to integrate with the EPoS’ automatic price branding, resulting in dish items correctly costed during specific time periods to maximise margins.
Having complete control of pricing and margin management from one central location is another benefit pubs and bars can gain from having integrated technology. The ability to implement changes quickly and effortlessly can save time.
5. Marketing masterstroke
Supermarkets run millions of offers on a daily basis through savvy technology to increase impulse purchases with intelligent promotions that react immediately without cannibalising other product sales.
With Christmas approaching fast, pubs and bars could introduce an instant offer on a festive turkey roast without a negative impact on other roast items.
6. Real-time reports
EPoS systems can produce real-time reports, giving management teams the right information at the right time, anywhere in the world. Licensees can get instant performance reports based on individual sites and across an estate, as often as required.
Stock management is critical in the hospitality industry and around three quarters (70%) of all shrinkage for pub and bar operators is down to poor stock management practices or direct pilferage.
Checking this is vital for multiple operators where management cannot practically oversee all locations at the same time.
Loyalty schemes can be integrated into a single visit to the cashier. As part of a loyalty programme, customers could also be informed that their favourite tipple is on offer through an in-app message. Personalisation can drive crucial footfall for pubs and bars.
9. Gentle sales promotion
Customer messaging can be controlled through an integrated system. Display screens linked to an EPoS system can be updated to let diners know about the provenance of ingredients or how their spirit of choice is distilled while delivering a memorable experience.
Customers who use the latest technological advances in a retail environment are the same consumers who want to see similar advances in pubs and bars.
They want and expect to be provided with technology to improve their shopping experience and their drinking and dining experiences.
Operators need to keep ahead and implement new developments to drive the customer experience and further enhance the bottom line in today’s growing and competitive marketplace.