Given the insatiable demand for specialty coffee and tea, there’s a huge opportunity to compete in the market. Statista reports indicate that revenue in the U.S. coffee segment amounts to 86 million dollars today. In the UK, Allegra World Coffee Portal reports the UK coffee market is now valued at over 10.1 billion euros across 25k+ outlets. Demand for these products has led to fierce competition in the space from chains and independent coffee shops alike.
A good point of sale (POS) enables coffee shops to ring up sales, but a great one takes it a step further, allowing shops to cultivate customer loyalty, manage inventory levels, access detailed business analytics, and more. Adding a next-generation POS helps coffee shops elevate what they do beyond the brew.
Because coffee sales often come at a relatively low price point, each customer becomes increasingly important to your business. It’s critical to focus on customer preferences to help improve your bottom line.
Another way to maximize success is by encouraging repeat customers. A mutually beneficial loyalty program rewards both your customers and your business. Common practice in the loyalty space is to reward customers at a rate of 10 to 1. For every 10 coffees purchased, reward loyal drinkers with a free coffee.
The Bean is a neighborhood coffee shop with five locations across New York City. They implemented a rewards system of their own to help drive traffic into their shops and compete with the likes of Starbucks and Dunkin. After building the loyalty solution with Como, they were able to better anticipate customer preferences. As a result, they were able to engage with their customers in a more personalized way.
Today, the technology you use can play a big role in delighting customers, improving operational efficiencies, and ultimately improving your bottom line. Empower your entire business with technology, and make today’s manual tasks automated and seamless.
Managing your team doesn’t have to be a full-time job. Employee management integration partners — like 7shifts, HotSchedules, and Deputy — provide a more efficient way for you to schedule, track, and manage employee shifts. Look for a POS that integrates directly with partners like these, eliminating extra work for your busy store operators.
Though coffee is a quick order-and-go offering, many of today’s consumers expect to have their coffee ready and waiting when they walk into a café. Adding mobile or online ordering capabilities can make this a possibility. Integration partners like Mobi2Go and Olo make a customer-friendly, branded app easy to create.
Marketing your business to today’s consumers requires constant evolution. It’s helpful to consider more traditional marketing efforts, while also considering modern channels that are attracting consumers.
Building a loyal community of coffee lovers is likely any coffee shop’s goal, and a customer relationship management system (CRM) is a helpful tool to help cultivate that community. A CRM is essential for shops to gain insights into customers, and helps tailor digital experiences to forge better connections. For instance, a CRM enables your coffee shop to:
From daily coffee sales to employee timecard reports, an important step in growth is analyzing your business as it currently operates. To get a full picture of the healthy areas, and those that need improvement, leverage data to complete a deep analysis.
As a business, you’re likely constantly considering what is driving revenue, and what your business can be doing better to operate more efficiently. Operational features and reporting capabilities give coffee shops the tools to draw out business-impacting insights. This gives you a real-time glimpse into your operations and longer term reporting.
Having access to daily and monthly sales reports, employee profit reports, and overall historical performance lets operators lean on data to guide critical business decisions.
For example, identify your top-selling blends, and determine which drinks are not performing. Analyze all menu item sales, and swap items in and out of your menu based on historical performance and seasonality.
Do you know what your weekly waste is? Do you run out of milk or vanilla syrup frequently? The way to combat the unknown is to actively manage inventory levels.
By using an inventory management tool, you are able to take the guesswork out of the equation and replace it with data. For example, your POS can give you the ability to track the sales of your every drink, down to the ingredient level. With every latte sold, you know exactly how much milk and coffee beans are left–in real time. Advances in inventory management technology ensure your café will always be stocked at the optimal inventory levels.
Revel understands the complexities, and challenges, associated with the coffee business. We’ve built a customizable solution that empowers coffee shops around the world today. Maximize your technology investment with a solution that’s built to take advantage of every cup sold. You'll take the guesswork out of making informed decisions for your business.
To learn more about how Revel’s intuitive, cloud-based POS solution can empower specialty coffee and tea shops, connect with a product specialist today for a free demo.