Boost Your Festive Sales with Integrated Digital Payment Solutions

Chaitali, Director (Marketing), Ezetap Mobile Solutions

Festive season — a time of the year where customers and retailers work in sync. While retail businesses try to increase their revenue and profit margins, consumers loosen their wallets. However, this year (2020), the festive season has brought a flicker of hope. For consumers, a hope to bring back fun and celebrations, and for retailers, a hope to recover some of the losses incurred ever since the COVID-19 outbreak. Since people are bored of leading an online life, it is the best time of the year for brick-and-mortar stores.

Deloitte’s 90-day analysis on the ongoing Global Consumer Tracker survey reported that Indian consumers are experiencing a significant decrease in anxiety levels, thus leading to increased in-store visits with the advent of the festive season. Porus Doctor, the Global Internal Audit Leader for Deloitte said, “The Indian consumer behaviour shows positivity in view of the upcoming festive season.” He also added that with reduced apprehension, consumers are ready to spend more on convenience, hence they are casting about for better deals, while also being cautious towards health, hygiene, and safety.

So, what does that mean for you, as a retailer?

This is an opportune moment for you, which brings with it a high possibility of skyrocketing sales and increased revenue. So, here’s what you can do to make the most of festive commotion.

Latch onto Digital Payment Solutions

Although people have become less anxious about the COVID-19 wave, they know it’s imperative to maintain social distancing. Unlike cash payments, digital payment methods such as UPI, QR codes, SMS Pay, and NFC cards allow you to process a transaction while also maintaining a safe distance from the customer. Right now, customers favour those businesses that allow them to make contactless payments.

Offer Queueless Checkout

During festivities, one of the most common gripes from customers is long queues. Maybe people were habituated to overcrowded payment counters earlier, however with evolving times, every individual is gravitating towards ease and convenience. Festive preps can be excruciatingly exhausting, so everyone desires a quick and comfortable shopping journey. Thus, planning a queueless payment process is indispensable. Moreover, an integrated payment system allows you to offer customers the flexibility of making transactions via any digital payment mode, and further facilitates hassle-free checkouts.

Upsell with EMI Solutions

This is the time when customers splurge on extravagance. You can get the best of this free-spending spree by upselling your products. EMI solutions allow a customer to buy something they desire, but is also beyond their price range. You can make high-end products affordable with easy EMI options and tap into your customer’s aspirations. Ensure that you are offering instant EMI options, not only via card payments but also through NBFC, so you can convert a sale into an EMI for customers who don’t have a debit/credit card.

Give Instant Deals

The Fear of Missing Out is quite common amongst customers, and no one wants to miss out on discounts and cashback offers. Especially with time-sensitive deals, consumers buy more products as it increases their purchasing power. Additionally, digital payment apps like GPay, Paytm, PhonePe, and more provide attractive cashback offers during festivities. So, by simply enabling digital payments, you are enabling your customers to avail exciting deals.

The retail sector has seen several changes over the years, but the coronavirus outbreak has brought about a profound transformation in customer behaviour. An integrated payment system alone can enable you to adapt and gain a competitive edge amid the pandemic. At Ezetap, we allow you to cater to evolved customer expectations. With our Universal Payment Platform, you can facilitate faster and queueless payments, convert a sale into EMI, offer instant discounts, and most importantly, a safer shopping experience for your patrons.

To know more about how we can help you boost sales during the festive season, visit Ezetap.