Many Filipino consumers continue to patronize brick-and-mortar stores because they value the tactile and tangible nature of the shopping experience. Physical stores offer customers an opportunity to try out items, see them used in context, and experience alternatives firsthand. Compared to typical online stores, old-school retail shops also offer a less fussy payment experience, particularly if the store has an up-to-date credit card swipe machine or credit card POS (point of sale) device like the Maya Terminal. Together, these benefits create an elevated shopping experience that keeps customers coming back.
Whether you’re an e-commerce entrepreneur who’s thinking of opening up a new sales channel or want to make a full transition into a brick-and-mortar business model, opening a physical store after running a successful online business has its own set of challenges. Let’s look at a few tips that will help you navigate your own store’s expansion into the physical retail world:
1) Incorporate the Right Payment Technologies
One major reason that Philippine-based small- and medium-sized enterprises (SMEs) continue to enter the physical retail sector is the local market’s diminished but still strong preference for traditional cash payments. But while cash is still king, various digital payments have already been adopted by a majority of Filipino buyers, making it critical for stores to have a credit card machine or, better yet, a card terminal device that also accepts digital wallet payments.
For effortless in-store payments, the Maya Terminal is a favorite among local SMEs. With its ability to accept credit and debit card, QR code, and e-wallet payments, the Maya Terminal device is more than just a card swipe machine; it’s your key to meeting modern customers’ in-store expectations.
2) Don’t Compromise on Staff Training
Opening a physical store allows you to deliver a more tailored experience for your customers, resulting in more repeat sales and reduced sales costs. However, your store can only enjoy these benefits if your staff is up to the challenge of offering great customer service.
Aside from training staff in basic customer service, it’s important to educate them in areas that directly affect the customer experience, such as specific product recommendations and your store’s payment processes. For example, if you have a credit card terminal, make sure that your customer-facing staff members are knowledgeable about the types of payments the device can accommodate.
3) Understand Your Customer’s Motives and Expectations
Customer motives and expectations can vary widely from brand to brand as well as from channel to channel. Understanding how your offline and online customers are different from each other will help you craft a coherent experience that results in stronger patronage.
To better understand your offline customer’s habits, make sure to keep a close watch of their in-store behaviors and purchase preferences. For even more visibility, consider having customers fill out a survey in exchange for discounts or freebies.
4) Don’t Neglect Your Online Store
Running an offline retail operation will use up a lot of your attention and resources, particularly if it’s your first time doing so. However, you cannot let that compromise your online store’s overall customer experience.Many of your physical store’s visitors may be testing out your offers with the intention of later purchasing them online. If your online store fails to live up to their expectations, those customers are not necessarily going back to your physical shop to complete the purchase.
Take Your Store Further with the Right Card Machines
A Maya Terminal card payment machine smoothens out payment experiences and lets you offer next-level customer service at your physical store. Use the Maya Terminal or the ultramobile Maya Terminal Lite to accept a range of payment types and offer a new world of convenience to your store’s customers. Create a Maya Business Manager account today and request a Maya card terminal machine for your store.
Completing your Maya Business Manager account automatically lets you in on the exclusive Maya 1-2-3 Grow bundle. Maya 1-2-3 Grow gives you a 1% MDR discount on all QR Ph payments, allowing you to save PHP 14,600 for every PHP 1 million in QR Ph sales, far more than with competing services. As part of the Maya 1-2-3 Grow bundle, you can also enjoy the benefits of using Maya Business Deposit as your settlement account. With its 2.5% per annum interest rate, you’ll earn PHP 25,000 in interest per year on a PHP 1 million deposit. Opening a Maya Business account also qualifies you for a Maya Flexi Loan offer of up to PHP 2 million in just 3 months, which will give you more financial freedom to take on different challenges when growing your physical store. Create your Maya Business Manager account today to take advantage of hassle-free in-store payment solutions like the Maya Terminal card and electronic payment device.
