Volumatic’s CCi gives retailers the perfect Christmas gift for the busy season ahead
06 December 2021
With Christmas less than a month away and consumer confidence returning slowly but surely following the pandemic, the busiest shopping season of the year is now in full swing, which is great news for the high street following the last couple of years of uncertainty.
Retail experts Springboard have reported that the latter half of November has seen a 7.9% jump in UK retail footfall across high streets and shopping centres from the start of the month, and that is predicted to rise to 24% in UK shopping centres as November turns into December, and 20% on the UK high street.
Of course, Black Friday, which has now established itself firmly in the UK retail calendar, has been a big part of this boost in spending during late November, but shoppers were actually out in force from mid-October, buying their Christmas presents earlier than usual this year, perhaps fuelled by the warnings that delivery services are continuing to struggle with demand and that supplies of certain items – particularly toys and some Christmas food favourites, could sell out way before the holidays begin.
According to the office for National Statistics, this consumer bounce back has seen sales rise by 4.2% in non-food shops, which means that sales are ahead of pre-pandemic levels for the first time since the COVID crisis first arrived.
Perhaps unsurprising, another big rise in spending – this time by 6.2% - has been seen in the clothing and jewellery sector, with customers splashing out on a new outfit for their first Christmas parties in two years and keen to put the misery of spending Christmas 2020 apart from friends and family firmly behind them.
It’s also interesting to note that at the same time as customers have started returning to physical stores, that online retail spending has fallen to 27.3% - its lowest level since the start of the pandemic, as customers show a preference in choosing items like clothing and presents for loved ones in person and are feeling the frustration of delays in shopping online.
And while this early surge in in-store Christmas spending and footfall is welcomed by retailers, it also means they have a major job on their hands in coping with their daily cash handling and banking procedures, while trying to maintain good customer service in assisting more customers and fighting against current staff shortages.
With worldwide retail spend in December expected to grow between 8.5% and 10.5% (National Retail Federation), many stores still need a smarter solution in place to cope with the demands this surge in Christmas sales will undoubtedly bring upon their workforce.
Treat your business to the CCi
Efficiency is the key to retail success during peak trading times, and the Volumatic CCi (CounterCache intelligent) can offer this in spades.
An all-in-one cash handling solution, the CCi validates, counts and stores your cash securely at the point of sale and provides a one-touch cash handling solution from your till point to the bank. The CCi can run as a stand-alone deposit device with transaction reporting at either store or enterprise level. Or you can choose for the CCi to be fully integrated into your existing EPOS system to give you accurate daily reporting.
It’s not just efficient, it saves retailers money too – less cash handling means the CCi can reduce cash processing costs by 75%. Add to this the reduction in errors, elimination of manual skimming and no forgeries coming through your tills, and it’s nothing short of a (Christmas) miracle.
Whether the surge in spending will last into the New Year with rising inflations rates is still hard to determine, but an investment in CCi will save businesses time and money for years to come, making it a worthwhile investment for anyone.
To find out more about how the CounterCache intelligent could be the best Christmas present you’ve ever given your business, contact us today for more information.