Foot traffic is one of the most closely watched metrics in the retail industry, and for good reason – more visitors lead to more revenue. However, increasing foot traffic shouldn’t just be about getting new customers to walk into your store. It’s about increasing traffic from existing customers, while also retaining any new clients that you attract. This is why retailers are looking for ways they can provide value for their customers while gaining an edge over their competition.
The best way to add value for your customers is to offer products and services that they will need on a regular basis. Not only will adding new products and services attract new customers, but the frequency with which they need them will help to maintain a loyal consumer base.
By offering services that encourage your customers to return once a month or more, you’ll be able to see consistent returning traffic. Take money orders for example. If your retail store is located in an area with a lot of cash-paying customers, there is a strong likelihood that they will stop in at your location to purchase money orders every month to pay their rent and other bills.
Which Customers Benefit From Money Orders?
A money order is a paper payment, similar to a check except that it cannot be returned for insufficient funds. This is because a money order must be prepaid at face value along with the issuer’s fee. At Fidelity Express, our fees are low enough that you can both make a great commission and encourage your customers to stick around.
Money orders are readily accepted by most billers and are often used by people without access to a standard checking account. This is because, in most cases, you must pay with cash, making money orders an easy way for cash-paying customers to pay bills like rent, repairs and maintenance, and other bills.
Increasing Traffic by Delivering Your Customers Needs
Adding money orders to your service offerings is a great way to increase traffic, especially if your store is located in an area that is predominantly unbanked or underbanked. In most cases, cash-paying customers in your area won’t just stop in one time to purchase a money order. They will need to return on a consistent basis to pay their bills each month, maybe even more frequently.
In addition to utilizing the walk-in financial services that you offer, these same customers are also likely to grab other goods in your store. Customers who use financial services in retail tend to have higher average basket sizes.
Fidelity Express Can Help You Serve Your Customers
For over 30 years, we have been providing our retailers with fast, convenient, and reliable walk-in cash services. Though we’ve greatly expanded our services offerings since, it all started with money orders.
With no monthly service fees, no requirements to offer other services, and low prices throughout all pricing tiers, Fidelity Express offers products that can be profitable quickly and with little ramp-up time. Our easy-to-use software runs in a browser, has a built-in training mode, and saves information for each customer so you can provide fast, efficient service that draws customers back to your store.
Our services are designed to help your business grow. We find ways to direct customers to your location, helping you increase foot traffic, basket size, and customer loyalty. Our goal is to help you, so you can help the people in your community.