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People Counting & Best iPad POS Software

By CountBOX | People Counting & Conversion Rate | 0 comment | 18 April, 2016 | 4

It’s easy to see the value of data derived from people counting sensors. Knowing the number of people coming and going can give great insight into your foot traffic trends and how they translate into overall sales. Taking it one step further and integrating this technology with your POS system is a quick and easy way to attain even more vital figures.

Here are two of the most useful calculations that door counters together with your POS system can provide.

Calculating Your Conversion Rate

What percentage of store entrants ends up completing a purchase?

(total transactions /total shopper traffic) * 100

Combined with the sales information straight from your POS, your counting solution can provide data on how well your business “closes” sales with each entrant. Once you know that only 30% of people entering your doors complete a purchase, you can start taking steps to increase this rate. This is also valuable for benchmarking multiple locations.

Calculating Your Shopper Value

How much is each entrant worth?

(total sales / total shopper traffic)

At first glance, this statistic seems familiar. Your POS probably already tells you—or you can easily calculate—your transaction average. That calculation divides your total sales by the number of transactions telling you that each paying customer spent an average of X dollars.

Your shopper value is distinctly different but just as important to know. With data from your door counters, you can view the total sales divided by the total shopper traffic. This sales average includes every entrant, not just paying customers.

Why does this matter? Let’s say you own a small business that averages $2000 per day in sales across 50 transactions. Your transaction average is $40 per transaction. Now let’s assume your door counters show 125 entrants per day. Your Shopper Value is $16, and your conversion rate is 40%.

Now imagine you can increase your conversion rate to 50% (with 62 transactions off 125 entrants). Your transaction average may stay the same, $40 per transaction, but now your total sales are $2480. Divided by the same number of entrants, 125, your shopper value has increased to $19.84, a 24% increase. If you increase the foot traffic, you can project this shopper value to increased total sales.

All of these numbers play a part in a big picture puzzle. Your POS reports can only tell part of the story. By integrating your POS with your people counting technology, you can get a more full picture of your current standing, potential problems and possible solutions. You can even use these integrated figures to attain more accurate projections.

POS System Comparison

With the explosion of tablet registers in the past few years, you have dozens of options for your POS system. Even if you already have a traditional POS system, the tablet registers and their generally lower fees are enticing. They are also much more user-friendly, especially for small- and medium-sized businesses.

The following are some of the most popular POS systems that integrate well with people counting solutions. All of these options use an iPad (though some can run with less expensive brands of tablets) as the main interface, as well as a backend accessible through your desktop browser.  This backend allows easy updating and inventory management, with some software capable of auto-ordering supplies and products. You can also look for a tablet POS that includes staff management or table layouts for restaurants.

Square Up

Pros –

  • Fewest fees and no monthly minimums
  • Pay only per swipe
  • Best cell phone mobile device

Cons –

  • Tends to hold money they deem “suspicious,” sometimes for 30 days or more
  • Reports of “random” deactivation of merchant accounts; if you’re deactivated, you have a much harder time getting in line for a support ticket
  • Slow customer support

Cost –

  • Swipe rate: 2.75%
  • Manual key-in rate: 3.5% + $0.15

Who it’s good for?

  • Businesses with low volume transactions
  • Small business start ups
  • Businesses that attend fairs or otherwise need to be mobile

ShopKeep

Pros –

  • No in-house card processing—You can shop around for the best rate
  • No contract
  • Bundle deals on hardware

Cons –

  • Does not have eCommerce integration
  • Not well-designed for multiple location features

Cost –

  • Free 14-Day Trial on your own iPad
  • $49 per terminal per month

Who it’s good for?

  • Small restaurants (that don’t need table layout)
  • Retail stores with one to two locations

VendHQ

Pros –

  • Provides a “free” plan, but limits you to 10 products
  • E-commerce integration in the Advanced plan
  • Completely Cloud-based—if your Internet goes down, you can continue processing cash transactions
  • Offers discounts if you pay a year of fees in advance
  • One of the most intuitive POS systems available
  • Great for scaling to multiple locations

Cons –

  • No discount on multiple registers, it’s always another $39/mo for each plus your plan fee
  • Phone support costs $19/mo
  • No item modifiers, no tipping, no table layout = not good for restaurants

Cost –

  • Starter Package is $69/mo ($65/mo annually prepaid)
  • Advanced Package is $99/mo ($85/mo annually prepaid)
  • Multi-Store is $199/mo ($169/mo annually prepaid, includes telephone support)
  • Free 30-day trial

Who it’s good for?

  • Stores with multiple locations or who expect to grow but don’t mind register fees
  • Stores that want straight-forward e-commerce and brick-and-mortar retail

Shopify

Pros –

  • The best option for retail stores that also use e-commerce
  • No per register fee—add as many iPads as you want
  • Offers a discount if you don’t need e-commerce platform or full register hardware
  • Excellent customer service reports

Cons –

  • Not designed for restaurants
  • Extremely limited hardware compatibility may cost you more

Cost –

  • Free 14-day trial
  • Basic with e-commerce functionality– $69/mo +2.9% swipe fee +$0.30 per transaction. Each upgrade in plan includes a discount in swipe fees.
  • If you don’t need staff accounts or hardware (cash drawer, receipt printer, scanner, etc.), you can slash your monthly fee to $29.

Who it’s good for?

  • Businesses switching from Shopify’s e-commerce platform to brick-and-mortar
  • Any business that wants to engage in both online and B&M retail

Revel Systems

Pros –

  • Infinite modifiers, especially useful for food industry
  • Delivery management for restaurants

Cons –

  • High upfront cost
  • Uses a reseller structure so customer experience varies widely
  • Confusing pricing structure; the company does not list prices on its site but encourages you to contact them for “unique” pricing

Cost –

  • No straight-forward plans to choose from—prices must be negotiated
  • Some complaints about manageability from companies with large inventories

Who it’s good for?

  • Quick service, fast-casual restaurants
  • Corporate retail
  • Revel is used by companies like Popeye’s and Cinnabon

Once you have selected the best POS system for you business, make sure you integrate your people counting solution as soon as possible. Your charting of Conversion Rate and Shopper Value can begin tracking your progress and guiding your business decisions in the best direction.

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