Tech Savvy Convenience Store Features Innovative Cash Handling Technology

Convenience stores in the United Kingdom represent a £39.1 billion industry, about the same as industries such as oil and gas. Convenience stores number almost 50,000 and 72% of them are run by independent retailers.¹ These retailers face challenges like futureproofing their businesses and eliminating staff theft. More often than not, the answer to both is technology.

Intelligent Cash Drawers

After getting Patel’s call, MSP Systems prepared a proposal that included three apg smarttill® Intelligent Cash Drawers integrated with the POS, which also integrates with an intelligent price labeling system. The smarttill® Solution records and counts each transaction, tracking discrepancies as they occur in order to
resolve them on the spot.

These capabilities, says Patel, benefit both the store’s ownership and the cashiers. The owners, “know they can track everything their staff does and that any shortages will be recorded.” For its part, employees “feel safer that they can’t be accused wrongly of losses as everything is recorded in the till.”

Having visibility at the POS helps not only with cash loss reduction but also saves valuable management time. According to a Bizdaq report, 87% of UK business owners with young children reported that they were unable to take a yearly holiday due to business commitments; in the same report, shop owners reported working an average of 50.5 hours per week.² Due to these demands, time is a precious commodity for them. Currently, Patel’s family members do the cashing up in the evening but hope to pass these tasks to other employees. They feel safe in doing this because the smarttill® Solution “looks after” the cash.

According to Greg Dockery, Sales Director at MSP Systems, having the smarttill® Cash Management Solution in the MSP’s sales toolbox increases the value providers can deliver to customers: “More importantly, it makes any proposal MSP makes more well-rounded as we are now offering a complete solution.”

When opening a new store, owners have to make many decisions, including
what to sell, how to draw customers and what systems to deploy. Karan Patel
was especially interested in frictionless technology when setting up his SPAR
convenience store in Tunbridge Wells, UK. He wanted to future-proof the store
with modern technology to attract millennials and Gen Z customers.

That meant deploying a fully featured point of sale (POS) system integrated with
intelligent drawers, digital signage, a cigarette dispenser, and electronic price
labeling. Patel researched available technology and providers before he decided
to contact Borehamwood-based MSP Systems Ltd.

“We asked them to give us a complete solution that would integrate with all the
new in-store technologies we have, including intelligent labeling, a cigarette
display system, and media advertising,” Patel recalls. Having looked at seven
other solution providers, while reviewing his options, Patel ultimately chose MSP
Systems “because of their reasonable price and a good customer support line.”

His SPAR franchise is family-run and employs three family members and seven
part-time workers. Patel wanted technology that would allow him to run the
business efficiently and prevent cash loss while also making it attractive to
modern consumers, who often make purchase decisions based on digital signage
promotions and want to get through the checkout fast.

Integrated Digital Signage

Another key component of the SPAR Tunbridge Wells implementation
was digital signage. The store has tablet-sized screens on the shelves advertising the day’s specials. The screens are positioned strategically; studies show advertising and promotion at the point of decision influence buyer behavior and boost sales. Other promotional screens are placed behind the counter, at the POS stations and in other highly visible places.

Tobacco Dispenser

The POS deployed by MSP Systems also integrates with the store’s Navarra tobacco dispenser to record sales and stock levels. The dispenser releases a cigarette packet only when prompted by the POS. Nothing leaves the dispenser otherwise. This addresses a major issue faced by UK tobacco sellers; it is estimated that missing cigarette packs stolen by staff cut into sales by 0.3% to 0.7%. While that may seem small, it adds up over time.

Intelligent Pricing

One of the most advanced features of SPAR Tunbridge Well’s POS is integration with electronic shelf labeling for dynamic pricing. As any retailer knows, changing prices on shelves can take hours when done manually. The process is expensive, time-consuming, and error prone. Electronic labeling changes that. When SPAR updates prices, the system automatically changes the labels and updates the POS so that when a price is scanned, it is the same price that appears on the shelf. Pricing errors are eliminated. Another benefit of intelligent pricing is integration with digital signage, enabling screens to immediately show current prices when they are updated.

In the convenience sector in the UK, the number one cause of internal theft is cash stolen from the till, which is why retailers have invested over £5 million to address staff theft.

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