Getting Ready For A Busy British Summer
16 July 2021
With long, sunny days and the unlocking of the country on everyone's minds, most thoughts are turning towards the summer holidays. Everyone is in desperate need of a break, and businesses are in desperate need of customers. As a result, there's been a lot of interest in what tourism will look like this summer in the UK.
At Volumatic, we're here to support the tourism and retail sector with money counting machines and solutions that can help improve the customer experience as well as enhancing store safety and efficiency.
Summer 2021 Tourism Predictions
VisitBritain is currently predicting that there will be around £51 billion in domestic tourism spending. While this isn't back to 2019 levels, it is a significant increase compared to 2020. However, inbound tourism is still likely to be low.
Nevertheless, experts are predicting around experts are predicting around £6.2 billion in spending. In total, this represents an increase of approximately 50% in tourism spending for this summer over last year.
With service industries still recovering, this could lead to a busy summer. However, if staff are out of practice at dealing with an influx of customers, it could slow things down. Pinch points can form, especially around tills. For this reason, it's crucial for businesses to make sure they have the best solutions in place, from contactless payment devices to cash counting machines. It is critical to capitalise on consumer traffic and offer payment choices so that no sale is lost.
Experts Predict Demand Will Rise
With the rise in the delta variant and some tension in relations with the EU, it is possible that some travel operators may end up suspending international travel during the summer. If this happens, it could increase the pressure on all retail and hospitality venues in the UK.
For instance, if only 10% of those who typically go abroad decide to stay in the UK for a summer holiday, this could add £5.5 billion to the annual tourism revenue. Let's also remember that the tourism agency launched a £5million campaign, with the aim of getting more people to holiday in the UK. The addition of these two variables could mean that VisitBritain's prediction could end up being underestimated.
Businesses need to consider that the predictions may be playing safe. It is wise to prepare for a larger number of guests and consider what you can put in place to prevent bottlenecks from forming at pinch points. For example, ticket offices, payment booths, concession stands and shops may see large queues forming at the tills that don't have sufficient payment processes in place, such as forgery detectors and cash counting machines.
Where Are The Holidaymakers Going?
Seaside and rural locations proved popular last summer. However, recent surveys indicate that cities are also set to see a boost in domestic travel. So a more comprehensive range of venues might find that they benefit from an uptick in custom this summer. So it's a good idea for any business that can profit from foot traffic to make sure they're ready for the season.
Another intriguing trend is that people are choosing familiar destinations. Hotel chains have noticed that around 75% of their booking are from people who have visited before. This is likely because people want to feel safe and comfortable when they leave home. Falling back into familiar habits can be a way to regain some feeling of normality.
Increased Demand From Locals
Experts predict that demand for UK holidays is going to outstrip supply this summer. This could mean that people cannot get away from home for the summer. Alternatively, people may have limits on how far they can go. Adding to this is the fact that accommodation prices have been increasing by a reported 41%.
With this lack of affordable accommodation, people may indulge in true staycations. Businesses could expect to see an increase in demand from their regular customers. If people cannot get away from home, they may just act like they're on holiday where they live. This type of 'holiday spending' isn't considered in tourism calculations but is driven in the same way.
How Businesses Can Make The Most Of The Busy Summer
So it looks like summer is set to be busy for everyone in the service, retail, and hospitality industry. This is absolutely a benefit, but it's not without challenges.
Most employers are dealing with short notice staffing issues. If one staff member has to self isolate it can quickly domino into large numbers of staff members being off work. When this happens, businesses need to be in a position to keep working as efficiently as possible.
So, one of the best ways to make the most of the busy period and overcome the challenges that come with more customers is to be prepared. Any change that you can make that will simplify your procedures, save you time, and increase the safety of your staff is worth considering. One area that many businesses could find improvements is in their cash handling systems and having the right tools at the till points, such as money counting machines and counterfeit detectors.
While there has been a shift to more contactless payments, cash still makes up a large proportion of transactions. Furthermore, the leisure and tourism industry does typically see increased cash use. With people starting to return to the norm, cash transactions will likely become the more popular option once again, especially in places like pubs and restaurants, where groups of people often split payments.
Streamlining Your Cash Handling
Dealing with cash payments manually can be a hassle. Not only does the cash have to be taken in, stored and counted, but it has to be kept secure and taken to the bank, in a form they'll accept. However, with the right tool, you can accept the cash. Then, from that one touch, have it counted, stored and deposit ready.
CounterCache intelligent is an excellent system for accepting, checking, counting and storing notes. You can install this counting machine at a till point, and it requires minimal training to use. Having a simple and effective system for your cash management could be the key to unlocking your summer earnings.
If your team knows that they can easily take cash, with minimal handling, checking and processing, they will be able to serve your customers quickly. So any efficiencies that you can make in terms of speed with cash counting machines will pay off on your bottom line.
Minimise Downtime With Money Counting Machines
Volumatic offers award-winning cash solutions to tourism and retail businesses to help them best serve their customers. We're trusted by retailers and the hospitality industry globally for our ability to make cash handling more effective.
Some of the most effective solutions for tourism and hospitality businesses include;
CounterCache Classic – Add extra security to your till points with a point-of-sale note storage solution. This secure device can be quickly exchanged when full to reduce downtime.
BV30 forgery detector – Reduce shrinkage by validating every note with ease. The BV30 is a sophisticated counterfeit detector and money counting machine that can quickly authenticate and count banknotes. For tourism businesses, the BV30 can be essential as it can handle up to six different currencies at one time.
CountEasy TS – This user-friendly touchscreen money counting machine is a count-by-weight scale that is ideal for fast, efficient reconciliations. This can be ideal for quick shift changes and is six times faster than counting by hand.