- Upselling Tactics
POS Payroll Systems: Streamline Your Payroll Management
Effective payroll management is crucial for any business. Ensuring employees are paid accurately and on…
Read More >>What’s tobacco scan data? And how can convenience store owners and retailers choose the best scan data incentive program?
For convenience store owners, tobacco is easily one of the most profitable and in-demand products on the shelf, and while there’s a profit to be made from tobacco sales alone, there is also profit to be found in another field: customer data acquisition.
By sharing data with tobacco companies, convenience store owners can save big with rebates and sales incentives. Here’s how scan data incentive programs work:
Sounds like a great opportunity to drive revenue? Ultimately, getting started with a tobacco incentive program requires your store to have strong data collection capabilities (which is generally made possible via POS scan data automation). This guide will show you everything you need to know about tobacco scan data incentive programs, provide guidelines for getting started, and show how a rebate program can help you grow revenue.
Tobacco POS Solutions. Choose a POS system with tobacco industry features. FTx POS includes scan data integration, as well as customization, age verification, and integrated payment processing. Book a demo.
To qualify for discounts, retailers must send weekly reports to tobacco companies, called scan data reports. This data is difficult to compile manually, and in many cases, tobacco companies now require it to be submitted digitally. That’s why automated scan data reporting is a must-have feature in a tobacco store POS.
With scan data automation, these POS reports are prepared and automatically submitted on your store’s behalf to a tobacco company like Altria.
Sharing this data then qualifies you for the buydowns and discounts that big tobacco chains receive. This can be a game-changer for independent tobacco retailers, corner stores and minimarts, as they can compete on price with larger retailers.
However, in addition to scan data reports, many programs also provide greater incentives for more in-depth data. Therefore, to reach higher tiers, generally you’ll need:
Generally, these programs vary in their requirements, and the more data you share, the more savings you can earn. Email marketing and digital data submission may also qualify for further incentives, among others.
Scan-data incentive programs are designed to reward retailers for assisting manufacturers with customer data acquisition. Mostly, these rewards tend to take the form of rebates that are awarded for selling specific brands of tobacco; however, there are also a host of other benefits that can come from having the added capital awarded through these programs.
Ultimately, these programs can help businesses increase revenue in four ways:
In any case, regardless of its usage, the best way to capture customer data is to have an integrated scan-data reporting feature in the best POS systems for smoke shop. The proper recording and reporting software helps you capture and send scan data without hassle.
Scan Data Case Study. Read how Smokers Choice used POS tools to scale a scan data program and increase sales by 400%.
When considering the pros and cons of any POS system with scan data, be sure to keep the following question in mind and think about your business’s day-to-day operations:
Generally, some of the key features to look for in a tobacco incentive program include:
These programs should drive revenue. Therefore, start by looking at the cost of implementing a scan data reporting program. Many POS systems offer scan data and manufacturer loyalty out-of-box, and therefore, you pay a monthly fee to access the entire POS platform. Third-party providers charge monthly fees and may take a percentage of the incentives you earn. Be sure you’re aware of the costs.
Ensure that the scan data program is compatible with your Point of Sale (POS) system and other software tools they use. If you’re using a loyalty program, the scan data system should integrate seamlessly with it, allowing for targeted promotions and offers based on purchase history. Finally, the program should be flexible enough to adapt and scale to accommodate business growth.
Regulators keep a close eye on tobacco sales. The scan data program should help you comply with local, state, and federal regulations, including age verification and tax calculations. Also, given the sensitive nature of sales data, the program should have robust security features to protect against data breaches and unauthorized access.
Ensure the program has a reliable backup and recovery system in case of data loss. Also, you should choose a POS or scan data provider that offers excellent customer support, including training, troubleshooting, and regular software updates.
Be sure you to ask about data quality. The program should provide correct data capture and reporting. This is crucial for inventory management, sales tracking, and regulatory compliance. In addition, the program should offer real-time data access, enabling store owners to make quick decisions based on current sales trends.
FTx POS was built by tobacco sellers. Our software makes it easy for retail stores to earn Tier 2 and Tier 3 Altria incentives, thanks to our POS with integrated age verification and Loyal-n-Save loyalty solution. Let us help you launch and capture bigger rewards to help you grow revenue. Contact our team today to learn more or to request a demo.
Learn more about this topic. See these related posts on the FTx POS blog.
Effective payroll management is crucial for any business. Ensuring employees are paid accurately and on…
Read More >>A common challenge that CBD sellers face: Finding a reliable CBD payment processor. Here’s why:…
Read More >>Every time you sell a product in your store data gets recorded in your POS…
Read More >>