Cash transactions cost 4.7 cents per euro of turnover for beauticians compared to 2.3 cents for a standard card transaction – less than half the amount
The value of an average card transaction (€28.25) is almost double the average cash transaction (€25.91) for beauticians, highlighting the fact that card transactions often lead to higher sales for merchants
Increasing the volume of card payments to 80% of accepted payments can play a crucial part in lowering admin costs, saving a business as much as €7,500 annually
Interestingly you can see discounting, social media and general awareness were the biggest issues when getting new clients:
Discounting is always a temptation. The reality is though not every client wants the cheapest style or treatment and once you start discounting, it’s hard to get back to a more profitable point and get them back to buy at the regular price.
Facebook is also a great tool to drive ‘word-of-mouse’. The temptation is to just tell people how great your salon is and run special offers and competitions. But that’s where the real value is on Facebook.
Again discounting is causing problems. Lowering prices however is not the way to retain clients. Giving them a wow experience that gets them back more often is the fastest way to grow.
Woohoo Pay’s loyalty App runs within the card terminal. We recommend giving clients points for every euro spent. When they reach a certain amount of points they get a product or service for free. Here’s the difference though, they only ever get a product or service they’ve never had before. Now your clients feel loved and rewarded and your retention rates improve.
Unsurprisingly, staff is the biggest issue. When asked specifically about the challenges, the following were the main pain-points:
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