Retail and point of sale technology can help make the most of retail therapy
April 02, 2013
Buying can be therapeutic. For many Americans, making a purchase from a favorite retailer can be a step toward cheering up in light of negative circumstances, and this often means that stores play an important role in consumer satisfaction. For businesses to keep their shops running smoothly and effectively, it may be helpful to deploy retail and point of sale technology to manage important accounts and solutions. These tools assist accountants and other workers with tracking expenses and revenues and keeping records as accurate as possible, but they have other benefits as well. With retail point of sale software, it can be easier to properly process a number of different payment methods without costly mistakes occurring. When companies harness high-tech efficiency-boosting programs, they ensure that their services will continue to be available to valued customers.
Americans love retail therapy
According to a recent survey of 1,000 adults conducted by Ebates.com, 51.8 percent of American consumers shop or otherwise spend money to improve their mood. The pervasiveness of these habits differed across gender lines, with 63.9 percent of women admitting to engaging in retail therapy versus 39.8 percent of men. Additionally, one out of five individuals polled said they most often use retail therapy to recover after a bad workday. Nearly 15 percent do so after receiving bad news, and slightly more than 12 percent cope with fights with loved ones through buying goods.
Researchers also found that men and women have different priorities in terms of what to purchase to cheer themselves up. Among women, the top response was clothing at 57.9 percent, while for men, the most common answer was food at 28.1 percent.
Some studies have suggested that the benefits of retail therapy may not be a myth. The Daily Mail noted that a study published in the Journal of Psychology and Marketing in 2012 found that many individuals who make purchases to right a bad mood actually feel happier afterward. The consumers kept diaries of their transactions, and were asked to report their moods before and after. While 62 percent wrote that they bought items to feel better, few regretted their decisions, the study pointed out.
For retailers, this may be a good sign. But in order to ensure they can address patrons' desires to spend, they may also need to improve their retail point of sale software. By doing so, they ensure that transactions can be completed smoothly, which benefits the company as well.