It’s important to be prepared for peak retail period to make sure that you can cater to the increased demand, and still ensure a consistent customer experience throughout your stores. Of course top priorities are stock, merchandising and staffing, but how optimized are your processes to help keep your business running smoothly?
The increased foot traffic can put a lot of pressure on your staff to make sure all customers are happy and aren’t subject to long lines. A high level of attention is also required during these periods, to ensure security – Of stock, staff, customers and of course – cash.
Now during these peak times, it is commont hat employees take on extra shifts, or have to train and oversee new staff members. It can be quite exhausting especially paired with the pressure your employees feel having to reach their targets. All these factors can drastically rise their stress levels and decrease their attentiveness.
Almost all of us are more likely to make mistakes in stressful conditions, and that can be a vicious cycle because it takes time to rectify those mistakes. One of the costliest mistakes you will encounter is miscounting cash e.g. when counting cash drawers between shifts, preparing bank, etc.
This helps to eliminate human error and drastically reduce the time required when counting cash. This means less discrepancies and staff having more time available to take care of your customers. In busy periods, this can be the difference between finishing on time and having to pay hours of overtime to managers to finish their cashing up and banking.
Ultimately having optimized or even automated cash management processes in place, keeps your team happier, your customers better served, and your operational costs low: