With the holidays quickly approaching, business owners are seeing money signs. According to the Wall Street Journal, U.S. holiday retail sales are the strongest they have been in years, which means people are going to need cash. To prepare for the holidays, there are steps a retail ATM owner can take to ensure they are receiving the greatest ROI possible on their machine.
Make sure your machine is stocked with cash, so it is able to meet the demand supplied by shoppers. Brick-and-mortar store traffic has shown to double during the holidays, so scheduling weekly services for your machine can help maintain a safe balance. During increased activity periods, like Black Friday or the week before Christmas, traffic is shown to triple, so scheduling an extra service around these two times is also a good idea.
If your retail machine is equipped with cash recycling technology, you may be able to cut back on servicing your machine. With increased traffic through a store, people will also be putting cash into your machine, providing your machine with more cash for withdrawals. If you are a business owner with an ATM that cannot stay stocked during the holidays, consider a cash recycling machine.
Ditch shared dial lines.
For those with legacy installs that are on dial lines, sharing dial lines could be a bad idea. Along with ATM use, phone calls and credit card transactions will dramatically increase during the holidays. If you are sharing a phone line with the credit card machine, you are most likely losing transactions. Lost transactions = lost revenue. Consider investing in a second modem solely dedicated to your ATM, so it can reach its full potential.
The holidays are a wonderful time for people to enjoy family, friends, and traditions and for business owners to make a lot of money. Have a successful holiday season by following these few useful steps and getting the most out of your ATM.