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Retailer trying to minimize inventory costs often create out-of-stock problems. In general, stock outages cost average retailer 6% of its sales, resulting in loss of billions of dollars every year and high customer dissatisfaction.
To make thing worse, today's airtime hard cards, also know as vouchers, scratch cards, replenishment cards, recharge cards, and hanging cards, increase likelihood of fraud. The biggest problem seems to be at point of sale where easily concealed, high-value airtime cards can be target of both retail customers and employees alike. To prevent comsumer theft, retailers often put cards under lock and key but still suffer losses due to employee pilferage. In conveience store industry, it is believed that as much as 80 percent of store's shrinkage is attributable to employees. Retail employess often feel underpaid and rationalize theft as a way to make up for what they're owed. As prepaid wireless airtime cards often range in denominations from $10 to $150, employees can easily conceal thousands of dollars of product in their pockets or purses. Cards are also attractive because they can be easily converted to cash on street by offering them for sale at a discount of their face value. Because they're close cash equivalents, prepaid wireless cards have become tantamount to an underground currency in some places including Europe. Because of proliferation of theft reduction is number one investment priority among convenience store executives.
Additionally, each of supply chain participants lacks efficient inventory controls and reporting while battling fraud. Because of difficulties they face, and retailers that sell traditional hard cards are in dire need of cost-effective distribution solutions.
Electronic Distribution Solutions
Prepaid Wireless Direct products and services solve distrbution problems of retailers that sell prepaid wireless (mobile) and other prepaid services.
Retailer. Retailers are increasingly demanding electronic delivery for significant benefits they derive.
By delivering prepaid products electronically, on demand, with point-of-sale activation(POSA) techniques, Prepaid Wireless Direct essentially allows any retailer to sell prepaid wireless or other prepaid service without carrying any inventory. This eliminates prepaid inventory costs that acted as enormous cash barriers, prohibiting many retailers from selling prepaid wireless or other prepaid services. What once tied up thousands of dollars in inventory, now requires no up front cash from retailers. Now virtually any retailer not only can afford to participate in selling prepaid services, but also can expand their product portfolios to include phone cards, wireless, dail tone, credit cards, internet and more. In addition, they can also afford to represent all of popular prepaid wireless service providers in their areas.
Also, because products are automatically replenished at POSA terminals electronically in PIN or real-time formats, retailer never run out of inventory. With Prepaid Wireless Direct POSA solution, retailers avoid heavy costs of out of stocks and resultant customer dissatisfaction.
Once installed in a retail location, POSA terminal virtually eliminates theft by retail customers and employess. Because only inactive products are on display, retail customers can no longer steal valuable airtime. And because all retail employees are assigned unique passwords required to accesss POSA terminal, system creates an audit trail that details all sales activity by date, time, shift and employee. This audit trail provides a monitoring system that virtually eliminates employee theft. With POSA system, retailer no longer need to count and reconcile scratch card inventory amounts at beginning of every shift.
POSA also reduces shelf space requirements and simplifies a retailers job by consolidating all prepaid products into one convenient POSA platform. POSA delivers operating flexibility to retail marketplace that traditional point of sale products fail to provide.
Retailers also have 24/7 online access to reports that show real-time sales activity by each of their locations. Retailers can also print real-time sales report directly for their POSA terminals. Reports can drill down to sales activity at individual retail outlets by product, clerk, day, and time. Reports come standard but may be customized to match retailers unique information needs. Retailers use sales activity reports can also highlight sudden changes in sales at a particular location. Subsequent investigation often reveals a simple solution to boosting sales such as replacement of signage that has been taken down by a window washer. Timely awareness of problems and simple remedies often make a significant difference to amount of sales at retail.
Prepaid Wireless Direct is proud to be leading way in electronic distribution of prepaid services through retail environment. By delivering unique, industry-first features and benefits, while supporting a growing list of platforms, methods, suppliers, and products. Prepaid Wireless Direct is poised to lead electronic distribution movement into future. In addition to its current suite of products. Prepaid Wireless Direct intends to introduce many more electronic product delivery solutions as it continues to leverage leading technologies to create cutting-edge, customized products for emerging customer segments.
Whether you are a small business retailer or a large retail chain store, Prepaid Wireless Direct has SMART solutions for you and your customers. Retail licensing provider of walk-in electronic bill payment services for financial banking Bill Payment Institute & Cellular Services Technologies Systems.
Think about it. This is all about how to increase traffic by deploying innovative strategies to make retailers more competitive with greater option innovations in technology, that hold the promise of generating additional capital to allow retailers to compete more effectively. costs.