Maxime Cohen, Scale AI Chair Professor of Retail and Operations Management McGill University’s Desautels Faculty of Management says that a cash wrap is the area inside the store where customers pay. It also includes surrounding retail displays.
The cash wrap of a store is not just where transactions take place. It plays an important part in increasing sales, improving guest experience, and decreasing theft. Continue reading to learn more about this important retail fixture.
What is a cash wrap and what does it do?
A cash wrapping is the area between a shop’s checkout counter, and all of the aisles and displays that surround it. This is where a shop can find its point-of-sale systems. Cash wraps are a great place for increasing revenue by making impulse purchases or adding inexpensive accessories.
It is important that customers can check out and purchase merchandise in retail stores. This is the last chance retailers have to convince customers to purchase products.
Consider the checkout experience at your local grocery shop. There’s a good chance that the cash wrap is surrounded with displays containing magazines, snacks, drinks, gum, and other post-shopping goodies. These items have been selected in order to increase average purchase value.
Cash wrap counters are important
Cash wrap counters not only increase sales but also help prevent theft and improve checkout experience. Here’s how.
The cash wrap is a last chance to sell. Customers will reach for the cash wrap when they see displays displaying impulse buys at the checkout counter.
Cash wraps should encourage impulse purchases, but not be pushy. It should contain products that are targeted at the customers who visit the store.
Customers’ needs should be anticipated by the checkout counter. Big box stores may tempt tired customers with candy bars and soda. Boutiques that specialize in gifts might offer gift bags, wrapping papers, and greeting cards along with cash wrap.
Cohen states that “Common practices include displaying cool new products that are visually appealing – preferably high-margin items.” Other common practices include displaying small, inexpensive products such as accessories and gift card.
The cash wrap and checkout experience can be used to promote add-on products as well as to inform shoppers about sales, store credit cards or loyalty program.
Improved checkout experience
Long lines can be a sign your shop is busy, but they can also ruin a great customer experience. You can break down long lines by using a well-designed cash wrap and keep customers entertained while they wait.
Wayfinding signs and screens that indicate open registers help keep things moving quickly. Wait times can be reduced by card payments, particularly contactless. Store associates can reach customers in line with a mobilePOS and verify their identity before they go to the cash wrap.
Customers will be happy to wait if there is a long line. Inspiring impulse purchases will fill the aisles leading up to your cash wrap. You can also show promotional videos or information about your shop in this area.
A well-designed cash wrap will entertain and reduce the lines for shoppers, which in turn will keep them coming back for more.
It is possible to reduce theft
According to the National Retail Federation, retailers lost on average $461.86 per shoplifting case in 2020. Your cash wrap can help you reduce shoplifting.
You can see if someone is leaving the store without having to go to the cash wrap. If someone attempts to leave the store without paying, it is easier to spot them if you have your checkout counter near the exit. This location discourages theft.
Different types of retail checkout counters
- One countertop
- Double cash wrap
- Three-part unit
There is no universal cash wrap design. It is important to design a checkout counter that suits your shop’s needs. There are many options.
One point-of-sale (POS) system is contained on one countertop. This is ideal for boutiques that sell luxury goods, such as small shops. There’s less chance of people waiting in line.
Cohen states that a single countertop can have the advantage of taking up a very small space.
Despite being small, one countertop can be used to display impulse purchases on either the top or the racks next to it.
Double cash wrap
A dual cash wrap, as the name implies, is made up of two checkout registers. It’s easier for queues to be reduced when there are more points of sale. If your store handles a lot of transactions or is busy, you might consider a dual cash wrap.
Cohen states that a dual cash wrap is more efficient and can be used to display items on the counter. He suggests strategically placing impulse items near your counter to take advantage of this.
Dual cash wraps are available in many sizes and shapes. You could have two POS systems on the same counter. Or, you could configure the counter to form an L-shaped shape. You should choose the configuration that best suits your store’s layout, traffic flow, and other requirements.
Three-part cash wraps house three check out points. This design is more suitable for large stores that process many transactions.
You can have more retail displays at the register if you have a larger checkout area. These can be filled with accessories and other add-ons that will increase sales.
You can set up a three-part unit multiple ways, just like with a dual cash wrap. Side-by-side registers can be a great way to save space. L-shaped and U shaped counters make it easy for cashiers and other staff members to store returns and promotional items.