Dynamic pricing in retail shops has become a prevalent strategy that allows businesses to adapt to changing market conditions and maximize their revenue. This pricing model, often driven by sophisticated algorithms and real-time data analysis, enables retailers to adjust prices based on factors like demand, competition, time of day, and even weather conditions.
Amidst change, McKinsey and BCG offer insights. Clean energy is driving service stations to innovate through new ventures and investments. Let’s explore their recent research for inspiring insights.
Before we dive deep into loyalty and self-service retail, we first need to understand why loyalty is important. Loyal customers are important because they offer repeat business, help you get new customers, generate high margins, increase your revenues and grow your business. It might sound obvious, but applying loyalty to self-service machines is not common yet. And that’s a pity because we know how to handle.
In this article, we give some examples of how (digital) vouchers can easily be used to increase your revenue, start new income models and get more and loyal customers. Let’s take a look at how SmartNow’s voucher system can help companies apply different marketing strategies on self-service machines. It is good to mention that our voucher system works out-of-the-box with our PayStation and any loyalty system connected with our API.
With thousands of connected self-service and vending machines in different countries, we see certain trends for upsell & cross-sell strategies in retail with vending and self-service machines. Below is a list of examples of how smart technologies help drive revenues and create a seamless customer journey.