Due to the availability and relatively low prices of digital cameras, tablets and camera-equipped smart phones,almost every consumer can now take high-quality photos at the drop of a hat. And, while some are content to post their photos on social media or share them through email, most people want to be able to print!
Not surprisingly, retail outlets throughout the country and around the world have responded by installing droves of in-store kiosks for photo printing. Simple, accessible and fast, these kiosks allow the average consumer to turn their amateur photos into works of art they can share with their families and friends.
Still, quite a few outlets – particularly smaller stores – have yet to take advantage of this booming business opportunity. If you have not installed a kiosk in your store, here are six bottom-line reasons why you should offer in-store printing to your customers.
1. An Extra Revenue Stream: With rising shipping costs and a still-stagnant global economy, it doesn't look like wholesale goods are going to get any cheaper. To make matters more difficult for retailers large and small, many consumers are cutting back on their daily expenditures – even on traditional convenience items and “must-haves.”
A digital photo kiosk is a perfect way to generate additional revenue and offset these losses. While some of your customers may be cutting back on knick knacks, souvenirs, packaged foods and other items you sell, many are still willing to drop some extra coin on a high-quality print. You might as well be the one who gets their business, rather than another retail outlet or a dedicated printing house!
2. Across-the-Board Increase in Sales: Everyone likes a one-stop shop, and anything you do to expand your overall offerings will lead to an uptick in across-the-board sales. If your store is already fast, convenient and centrally located, a printing kiosk just gives customers another reason to pop in. In fact, the value-add of a convenient kiosk may even allow you to charge slightly higher prices on other goods than your competitors.
3. Cross-Merchandising Opportunities: Even if you don't currently offer in-store printing, you're probably selling film, camera accessories, ink and other items that people use to take and print pictures themselves. Since you're already selling to a crowd of amateur photographers, you'll probably be able to sell more of the same merchandise if you combine it with the option to also print in your store. You can even cross- merchandise with combo deals on unrelated items that people will likely buy at the same time – foods, gift cards and more!
4. Customer Acquisition: Consumers will generally support local merchants when it's financially feasible, so don't give them a reason to shop anywhere else! By adding a digital printing kiosk to your other products and services, you'll be making your independent store more attractive to the locals. More people will start coming in to print pictures, and they'll keep coming back once they see what else you have to offer.
5. A Surefire Investment: With low margins and frequent failures, almost any expense seems risky in today's business environment. Fortunately, a digital kiosk is a low-cost, foolproof way to produce a quick return on investment. It'll begin generating revenue the day you install it, and depending on foot traffic, you could recoup your costs within months or weeks. Plus, since digital kiosks are low-maintenance – and since you'll only need to pay for more ink, paper and other consumables once you generate more printing business – long-term overhead is quite manageable.
6. Customer Retention: Still not convinced a digital printing kiosk is the way to go? Just think about all the other outlets, both chain and independent, buying them up. While some loyal customers may stick around – all the while making extra trips to other stores to print – you'll eventually lose business to proprietors who offer everything in one spot. Once customers make the switch, they may be gone for good, so you'll retain as much business and revenue by investing in a kiosk as quickly as possible!
Are you ready to start earning extra revenue from a digital photo kiosk? Contact a retail innovation representative today.