6 Reasons Why You Need an Advanced Tobacco Store POS System in 2022
Tobacco Store POS sales are one of the most highly regulated industries. And if you’re looking to stay barely within compliance, then you need a Retail POS System that can spit out all the required reports and data in a timely fashion.
But what’s even more important is that your Retail POS Software needs to be cloud-based to provide an interface with the federal tobacco reporting and tax systems. These systems are not only owned by another company and managed separately – they also have their deadlines for when reports and tax remittances need to be submitted, so it is vitally important that your POS will work seamlessly with them.
Advanced tobacco store POS system in 2022
In the future, there will be many more tobacco stores. That is one of the things that has been predicted from a study conducted by a technology company, Mercator Advisory Group. They predict that between now and 2022, there will be a whopping 12% increase in e-cigarette and vape stores throughout the US. The study also predicts there will be an 8% decrease in traditional cigarette stores as well as a 6% decrease in cigar and pipe shops during this period. While it is good to see more options for these businesses, it also means more competition, which can drive down prices for consumers who cannot afford to go without their tobacco products.
The rise of electronic smoking devices has been dramatic since they were first introduced in China back in 2004. They started to gain popularity among the younger generation until more and more people started using these devices as a way to quit smoking cigarettes which are not only expensive but also harmful to one’s health. Tobacco is an agricultural product which means it is subject to the laws of economics, which drive the prices up based on supply and demand.
Source: https://www.mercatoradvisorygroup.com/
So what does this all mean? Well, it means that if tobacco stores do not improve their inventory management system, they will soon be out of business.
If you want to be a successful tobacco store in the year 2022, there’s one thing you absolutely must have: an advanced and compatible Point of Sale (POS) system. A POS system is nothing new – it’s been around for quite some time now. But with the tight regulatory environment and challenges that face the industry, relying on an antiquated POS solution may be a fatal mistake.
We’ll explain exactly why this is and how you can avoid it by investing in one of our award-winning POS systems today!
Why do you need a POS system?
For the owners, a tobacco store POS system accurately manages inventory. Whether distinguishing flavored cigarettes from regular cigarettes or redeeming reward points for a frequent customer, a POS for tobacco wholesale or retail business is a wise investment.
A POS for cigarette and tobacco stores assists the owner in creating and maintaining a genuine customer database. It enables the owner to automatically reward existing customers while also attracting new ones through loyalty programs or reward point schemes.
A POS system for cigar shops improves the customer experience. For many, cigar smoking is a form of indulgence. They would like to share their experiences, receive personalized cigar pricing, and gain access to a premium cigar lounge through a rewards program.
Knowing your customer base and catering to their needs is an essential part of owning a business. It is even more important when the products you sell have age restrictions. It is critical for a tobacco and vape store to ensure that the customer is at least 18 years old. Failure to do so will come at a high cost, and it may also result in a slew of legal issues for you and your company. A point-of-sale system simplifies and simplifies the process of age verification by allowing cashiers to scan and verify customers’ IDs.
Even beyond ordering, adding new stock to your inventory will always be difficult and time-consuming. Furthermore, a POS system allows you to manage and organize your entire inventory across multiple locations with fewer headaches. A POS system shortens the time it takes to import items and automates the process of adding items to the inventory.
The most important advantage of using a POS system for your vape shop is that it reduces customer checkout times. Inventory management is becoming more efficient, and payroll processing is becoming more efficient. A POS system allows your store to accept payments in a variety of ways, such as cashless payments or e-wallet payments. Store owners no longer have to manually record and check inventory.
Bottom line
As tobacco stores across the country continue to lose sales from the uptick in people switching to vaping, it’s clear that the decline of tobacco products is not a trend that’s going anywhere any time soon. This trend has plenty of consequences for both industries and governments trying to combat smoking addiction. One important consequence is how businesses can use an advanced POS system to keep up with growing challenges like declining sales and increased competition.