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Category: Solutions & Use Cases

  • RetailNOW 2018 Recap

    RetailNOW 2018 Recap

    This year, RetailNOW 2018 ran from August 5th to 8th at the Gaylord Opryland Resort & Convention center in Nashville, Tennessee. In this post, we’ll do a short recap of some of the trends and our own experience of it at Star Micronics and our growing ecosystem of partners.

    RetailNOW was buzzing this year on Twitter under the hashtag #RetailNOW2018. It’s held by RSPA, a trade association comprised of resellers, ISVs, manufacturers, payment processors, distributors, and other POS and tech ecosystem participants.

     

    Star Micronics had some exciting new products to showcase such as our mCollection including new printers and scales, which got a fair amount of attention at RSPA.

    RetailNOW is an important event for POS tech since it combines resellers with both hardware and software ecosystems. The point of sale industry is being challenged right now with channel sustainability and thus the role RSPA plays is crucial.

    Star Micronics’ booth was #803 and our set-up looked like this:

    RetailNow-2018-Booth-e1574798655138

     

    We held a contest where those who entered could win an Amazon Echo Spot. Our new mCollection series was well received, especially our scales.

    m-collection_with-logo02-e1574798680532

    With over 160 exhibitors and a packed agenda, RetailNOW 2018 was the ideal event for us to showcase our mCollection series that has been designed with the latest tech to deliver products that are especially compact in size, sleek, and offer the easiest setup in the industry with a reliable and remarkable user experience. Where our mCollection truly shines is in connectivity–each printer has multiple connectivity options including Bluetooth, CloudPRNT, Ethernet, and of course, lightning USB and traditional USB options.

    RSPA speakers had warm reception that looked like this:

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                              Image credit: RSPA Twitter

    The inaugural RSPA women of the year in 2018 was Abby Sorensen. On the ISV insights panel, the importance of finding partners who need your software but who also have the same DNA was mentioned. The RetailNOW 2018 event also included golf, free head-shots at the photo booth on the show floor, and many other perks. Many speakers added value around the best practices for ISVs, VARs, and Vendors.

    Tips for Value Added Resellers (VARs)

    POS VARs are evolving how they see the emerging ecosystem:

    Jim-Roddy-Presentation-Image-e1574798741922

                           Image credit: Jim Roddy on Twitter

    RSPA is really committed to providing year-round education on topics relevant to its community with everything from tech boot camps to regional events and global expansion. VARs are also increasingly relying on automation tools to streamline their business.

    Capture-e1574798762533

                      Image credit: Jim Roddy on Twitter

    VARs know what works for them in terms of the top lead generation tools. For many of them, product catalogs, software overview videos and educational content such as buyers guides, e-books, lists, and live chats work really nicely. RetailNOW 2018 was full of educational content for VARs, Vendors, and those in related POS tech industries.

  • Finding the Right Mobile Application and Printer for Your Restaurant

    Finding the Right Mobile Application and Printer for Your Restaurant

    When owning and operating a restaurant or food service business, it’s important that your customers are always left satisfied, whether that be by the food, wait service, or speed. What many restaurateurs do not realize is that this often goes beyond serving a good plate of food and having an attentive staff, but it all connects to your backend operations. Food service and restaurant businesses need to make sure that they have a solid point of sale system that keeps everything running smoothly and efficiently.

    fourleaf-drawing-e1574798579744

    Fourleaf and Star Micronics offer restaurant solutions for businesses of all sizes with top performance. Fourleaf is a restaurant point of sale (POS) application that allows management and staff to manage orders from start to finish using an iPad. Restaurant and food service business choose Fourleaf and Star for its mobility, always-on functionality, and outstanding user and customer experience.

    Mobility

    Smaller restaurants, cafes, and food trucks need mobility options that will allow them to take an order and accept payment from anywhere, at any time. With mobile ordering and payment becoming more popular options when it comes to food service, it is important for business owners to accommodate to the new generation of consumers by offering more mobile options. Fourleaf allows restaurants to seamlessly accept mobile orders and payments. Operating on iPads, Fourleaf’s POS solution enables food service businesses to go completely mobile using one of Star’s mPOS hardware options including the SM-L200 portable printer, mPOP, or mC-Print3.

    Always-On Connectivity

    With Fourleaf and Star Micronics, restaurateurs never have to worry about devices being disconnected, or losing payment or transaction information. The benefit of Fourleaf’s real-time sales and inventory updates is that business owners and managers are always connected and able to see updates whether they are in the restaurant or relaxing at home. And with Star Micronics’ new mC-Print3, they never have to worry about losing connectivity with the printer’s HUB interface with Bluetooth, USB, lightning USB, and Ethernet options. Not only does the mC-Print3 offer multiple connectivity options, but it also allows restaurants to connect multiple devices to be used all at the same time while boasting both spill- and insect-proof technology, making it ideal for kitchen and restaurant environments. For mid-size and large-scale restaurants, always-on and always-connected functionality is a must.

    User and Customer Experience

    The most important aspect of running a successful restaurant business is providing an exceptional customer experience. In order to do this, staff must be knowledgeable of the menu and the back-of-house operations including how food is prepared, wait times in the kitchen, and most importantly, the point of sale. Providing your staff with a user-friendly POS system helps set-up them—and your business—up for success, especially in a large-scale and busy restaurant environment. Fourleaf POS offers an easy-to-use and intuitive system that makes it easy for staff to take orders, print receipts, and track loyalty. This is also great for the customer experience because they receive excellent service and rewards for frequenting your business. Star’s TSP143III printer helps staff to quickly print receipts and credit card slips and offers an aesthetically pleasing printing solution for your business.

    The bottom line is that no matter what size or type of restaurant or food service business you run, it is important to have modern and functional technology to help your staff get the job done and provide your customers with a 5-star experience every time. Whether you own a food truck or a steakhouse, Fourleaf and Star Micronics have the solutions to help you succeed.

  • How PromoPRNT Empowers Retail Stores with Receipt Messaging

    How PromoPRNT Empowers Retail Stores with Receipt Messaging

    In an era of mobile advertising and discount shopping, retailers need to find new ways to reach their customers. New ways to create meaningful customer experiences. With new technologies coming and fading, for many retailers ‘going back to basics’ takes on a whole new meaning. Online advertising is expensive and the ROI has diminished in recent times.

    As consumers have fundamentally changed how they shop and how they buy, retailers need to rethink how they use their existing hardware and software to augment their paths to purchase. This can be achieved also at the POS and with existing technologies. For local retailers, it’s not all about customer data, but also about providing memorable experiences that foster a deep human connection.

    Nothing quite beats the charm of customer service and little personal touches on purchases and the intimacy of shopping at a local store or a favorite small business. So what then are the high-value potential channels that many retailers are neglecting? It turns out it’s offline and in-store marketing opportunities.

    What if there was a simple way to drive customers important messages that they nearly always see? Email marketing open rates are declining, so retailers need to think about an easier way.

    Consumers want to be recognized, and they want non-invasive messages that resonate with them. According to the 2017 DMA factbook, consumers with personalized experiences spend more and become repeat customers:

    Post-Purchase Messaging

    • Product-specific feedback requests in an appropriate post-purchase timeframe (not too soon, but don’t wait too long either)

    Event Reminders and Seasonal Campaigns

    • Invitations to special events at nearby locations

    New Products Launch

    • New product releases in areas of interest

    What if there was an offline tool at the POS itself that could deliver salient messages? Now there is.

    What is PromoPRNT?

    NewPromoPRNTLogoTM

    PromoPRNT is an in-store advertising tool that allows retailers, small businesses and any business with a physical location to leverage the full power of receipts.

    Any POS with a Star Micronics printer can be using PromoPRNT to drive customer experience, build loyalty and engage its shoppers.

    While retailers try to implement personalization and drive traffic online, this is a bit expensive for your local retailer or independent retail store. They need tools that humanize their brand, that are low-cost but yield long-term benefits.

    Benefits of Using PromoPRNT

    Customer-centric receipt messaging at the store or physical location can augment a retailer’s business in many ways:

    Convert Offline to Online Traffic

    • Convert offline eyeballs to online website and social traffic

    Drive Seasonal Deals and Advertise In-Store Events

    • Seamlessly increase “buzz” about seasonal campaigns and promote in-store discount events

    Communicate Important Updates to All Customers

    • Communicate general purpose messages that have a wide reach and a nearly 100% “read-rate”

    Conduct Retailtainment Campaigns that Charm Shoppers

    • Use wit, humor, and charm to create a memorable point-of-purchase experience that has long-term customer loyalty benefits.

    Improve Authenticity of Brand Impressions that Build Trust

    • Create authentic moments for shoppers that will get them to return to your location.

    Drive Repeat Sales

    • Drive repeat sales with loyalty program messages, discounts, coupons and time-limited offers.

    Want to be among the hundreds of retailers and small businesses trying out PromoPRNT?  It’s free and easy!



    PromoPRNT

  • Star Micronics Introduces the mCollection

    Star Micronics Introduces the mCollection

    Somerset, NJ – August 1, 2018 – Star Micronics, a leading global manufacturer of mobile, point of sale (POS), and customer engagement technologies, is happy to announce the release of their latest line of products: the mCollection.  The mCollection was designed with the latest technology to deliver products that are compact in size, sleek in design, and provide an easy setup and wonderful user experience.

    The central pieces of the mCollection are the printers: the mC-Prints.

    The mC-Print2 and mC-Print3 are the collection’s 2- and 3-inch front-exit thermal printers designed for easy loading and low maintenance.  Each printer provides multiple connectivity options, including Ethernet, traditional USB, Lightning USB, Bluetooth, and CloudPRNT, which allow for versatile use throughout retail locations. These printers can also be cloud-connected allowing any retailer to use Star’s latest printed promotion tool, PromoPRNT. The printer’s stylish, compact design compliments any brand and works with any modern retail environment, even when counter space is limited. Both of these printers have an integrated hub and provide the ability to connect peripherals.

    The additional peripherals include the sleek and compact 1D scanners and 2D imagers. These products can communicate directly with the host or through the Star printer hub.

    Also available in the mCollection is the customer display.  The customer display is offered in the two mCollection colors, black and white, and can fit perfectly on the mPOP or on the latest mC-Print printers.

    Finally, Star is adding three digital NTEP certified scales to the mCollection. Two of these MG-scales (MG-S322 and MG-1501) are perfect for the cannabis industry, while the third one is designed for generic retail (MG-8200).

    Another big benefit of the mCollection is that all products are controlled through Star’s common SDK software providing a quick, easy, and simple tool for integration by software developers.

    “The mCollection is creating a lot of interest because it meets today and tomorrow’s retailer needs for flexibility and mobility with a future-proof design,” said Christophe Naasz, Director of Business Development at Star Micronics.

  • 3 Things to Consider When Selecting a Scale for Cannabis Retail

    3 Things to Consider When Selecting a Scale for Cannabis Retail

    One of the most important elements of cannabis retail compliance is accurately selling products by weight. A dispensary’s inventory may include a variety of cannabis offerings, including packages of marijuana buds or flowers, edibles, vaping supplies, or containers of shatter (cannabis concentrate), topicals (ointments and creams) and marijuana extracts. Scales for cannabis ensure you are not over- or under-charging customers and assist in inventory tracking at a medical marijuana dispensary or cannabis retail outlet, regardless of the product you sell. Running a business that sells products by weight is impossible without the proper scale, so make sure you choose the one that addresses your business needs and adheres to local and state cannabis laws.

    Download for Free: Scale Buyer’s Guide.

    The standards and regulations for cannabis scales vary by state, so choose the scale that will keep you in compliance and accurately serve your customers. Here are three main features you should look for when shopping for a scale for cannabis:

    1. Weigh to One-Hundredth of a Gram

    Anyone shopping for a scale for cannabis should brush up on the metric system. Metric isn’t standard in the U.S., but scales for cannabis measure in grams. Although it’s commonly thought that an ounce of is 28 grams, it’s actually 28.349 grams—so don’t short your customers by rounding. Most scales will weigh to the tenth of a gram, but it’s recommended that scales for cannabis weight to the one-hundredth of a gram (0.01) for a higher degree of accuracy. This is important because it tells the customer they are receiving the exact amount of product they’re paying for, it ensures the cannabis retailer is receiving the correct payment, and it maintains accurate inventory records.

    2. NTEP Certification

    The National Type Evaluation Program (NTEP), overseen by the National Conference on Weights and Measures, covers every aspect of a scale’s use, including capacity, accuracy and the effects of temperature fluctuations on the scale’s operation. The standards are developed by the National Institute of Standards and Technology (NIST). A local weights and measures official will use NIST standards when inspecting your scale and sealing/certifying it for legal use. Every NTEP approved scale will have a NTEP certificate of conformance (CoC) number that an inspector can use to verify the scale has been certified. However, a CoC doesn’t mean plug and play—call your local regulatory agency for the proper procedure before using the scale.

    3. Class II NTEP Balance

    A NTEP CoC means the scale is legal for trade and able to be used to sell product by weight. However, there are different classes of accuracy. Class II is a higher accuracy scale that applies to lab scales as opposed to industrial or retail equipment. This higher class of scale can be used in medical or scientific uses such as pharmacy, laboratory, and compounding, which require precise measurements. Most states require cannabis retail stores to have a Class II digital scale.

    Medical marijuana and cannabis retailers are legal in more than half of the U.S., but requirements for how you run your business will vary depending on your location.  With products sold by weight and strict regulatory requirements, investing in the right scale will be vital to your profitability and compliance. Carefully evaluate your options and make the right choice for your business.

    Star’s mG-Scales are ideal for the cannabis industry!



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  • 5 Ways to Motivate Retail Store Staff and Keep Morale High

    5 Ways to Motivate Retail Store Staff and Keep Morale High

    Picture this:

    It’s just a normal Tuesday and you arrive at your shop. Your spirits are high and you are looking forward to your day. You step through the door and your cashier is on her phone. Another employee is lounging to the side. There is no sense of enthusiasm or motivation. There are no positive interactions with your customers. Your mood immediately changes and, suddenly, you realize that this is affecting your store’s sales.

    Motivation, the state or condition of being motivated or having a strong reason to act or accomplish something. In 2017, it was reported that 51% of employees in the United States are not motivated. With the lack of motivation, about 70% of Americans do not feel engaged at their job. Why? There is a science to motivation that needs to be understood in order to keep employees engaged in their daily work.

    Let’s first understand why it is so hard to stay motivated. As said by Forbes, there are three main mental reasons as to why it is so hard to remain motivated:

    1. “I have to”
    2. “I don’t feel right about this”
    3. “I can’t do this”

    Basically, motivation is determined by how your employees view a situation. So, how can you keep your staff motivated besides their paycheck? Take a look at these five tactics!

    1. Employee Training

    We get it, this sounds boring. Nobody actually wants to sit through training, right? Wrong. Employee training sessions may have a bad rap for being boring, however, when done correctly, can be fun and engaging. For starters, Myagi suggests utilizing quizzes and follow-up questions to bring about friendly competition to your employees and increase participation and memory retention. Additionally, get your employees to present their ideas to one another.  You never know what tricks they may have up their sleeves.

    2. Listen

    Such a simple concept, yet so effective. Think about your personal experiences. Don’t you feel more valued when your boss listens to what you are saying? Listening to your employees’ thoughts, concerns and ideas is crucial in allowing staff to feel involved. Showing employees that their insights are valued and appreciated guarantee a high morale and motivated work environment.

    3. Advancement Opportunities

    Knowing that you are working to achieve a goal is motivating. The goal is especially motivating if it leads to more opportunities to advance within the business. By offering these opportunities, you give your staff the encouragement to work to the best of their abilities.

    4. Incentives

    Incentives are a fun, simple, solution to keep staff members motivated. Don’t worry, your incentives do not need to be expensive. They can be as simple a gift card to Starbucks. Let’s be honest, most people love prizes, so why not give your employees a reward for a job well done?   

    5. Be an Effective Leader

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    Show that you’re passionate about your role. Be excited about your business’s goals. Nothing is more motivating than a leader who wants to succeed with their staff. However, passion is not solely what makes an effective leader. Take a look Peter Economy’s 10 powerful habits that leaders should practice:

    1. Confidence
    2. Persuasive communication
    3. The ability to be sensitive and responsive
    4. Determined
    5. Supportive
    6. Distinguished
    7. Responsible
    8. Optimistic
    9. Honesty
    10. Organized

    Takeaway

    Motivation is mental and the mind is strong. With the mind being such a powerful tool, one must learn how to interact with their staff in order to encourage a positive and productive workday. Motivated retail associates directly translate into better customer service and thus increased in-store sales.



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  • The Future of Cannabis Retail is Looking Good

    The Future of Cannabis Retail is Looking Good

    The retail cannabis industry is growing fast, $75 billion by 2030 fast.

    But let’s look at the nearer future. According to Arcview Market Research and BDS Analytics, by 2021 the cannabis market is expected to reach $24.5 billion. Currently, cannabis is legal in 9 states for recreational use while 30 states have legalized cannabis for medical usage.

    With such a high market growth expectancy, dispensaries sell a variety of cannabis products in the forms of hash, rosin, shatter, and oils which can be smoked or vaped. In addition, as many are aware, cannabis is also sold in the forms of candy and baked goods. As for pharmaceutical use, cannabis contains cannabidiol (CBD) which when used in the form of candy or oil aids in the treatment of pain and epilepsy. Now that sounds pretty good.

    Let’s Talk Business

    There’s no doubt that cannabis has health benefits that aid in the relief of:

    • Pain
    • Muscle spasms
    • Arthritis
    • Dravet’s Syndrome
    • Mental health symptoms
    • Etc.

    But what about benefits for businesses?

    Well, as was mentioned earlier, legal cannabis reached $9.7 billion in sales in 2017.

    But let’s dig a little deeper into the facts and figures…

    By 2021, marijuana sales are expected to reach a whopping $24.5 billion. Younger generations are turning to cannabis consumption and slowly turning away from alcohol. This has resulted in a decrease in binge drinking, 9% below the nation’s average, in the states where marijuana is legalized. Funnily enough, the industry’s sales will be led by people 55 and older. With such a diverse market, the cannabis industry is opening up multiple opportunities for businesses to flourish.

    The increased popularity, and acceptance, of the cannabis industry is leading to the establishment of more small businesses with an increase in employment opportunities. With cannabis stores becoming more common in legalized states, the industry of creating products to efficiently, and legally, weigh and sell marijuana to meet regulations are necessary for the success of the business. Additionally, with cannabis being legalized all over Canada, there may even be a possibility that the East coast will speed up its state adoption for recreational use.

    Regardless, cannabis is creating a diverse industry that includes the need for different markets to ensure its success, thus providing a positive impact on the nation’s economy.

    The Cannabis POS Industry

    With Cannabis creating such a diverse industry, it only makes sense that businesses will need reliable POS systems…image-e1574796602929

    Keep in mind that the cannabis industry is different than your average retail business.

    There are multiple rules and regulations that need to be followed in order to ensure that your business is legal. Here are some key points to remember when choosing your POS system:

    1. Cannabis is a cash business
    2. Sensitive scales are a necessity
    3. Labels are regulated
    4. Receipts are essential

    How Resellers Can Cash in on Cannabis Point of Sale

    The cannabis industry has become one of the fastest growing markets. Here’s how resellers can take advantage.



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  • How to Choose the Right POS Scale for Your Application and Industry

    How to Choose the Right POS Scale for Your Application and Industry

    If you’re in the market for a new POS scale, consider these points to help you make a smart choice for your business.

    POS scales are used in different types of businesses that charge for items by weight, including supermarkets, self-service restaurants and buffets, butcher shops, candy stores, health food markets with bulk bins, cannabis dispensaries, and more. From a pound of cold cuts to a cup of frozen yogurt, scales measure the weight of a customer’s purchase and calculate the price accurately.

    Scales ensure you are not over- or under-charging customers and assist with inventory tracking at your store or restaurant. Running a business that charges based on weight is impossible without a properly calibrated scale, so make sure you choose the one that best takes care of your needs.

    If you’re in the market for a new point of sale (POS) scale, consider these points to help you make a smart choice for your business.

    • Application: Why do you need the scale? Before you purchase POS scales, identify how they’re going to be used and what you need to weigh. Is it fresh produce in a supermarket, bulk candy, and meat or items like mail and packages? Are most of your products heavy or light? Large or small? Identify the types of items you need to weigh and use that as a starting point.
    • Accuracy: How accurate do you need the measurements to be? Scale accuracy is important because it tells the customer they are receiving the exact amount of product they’re paying for. An accurate scale also ensures that the retailer is receiving the correct payment. Across the U.S., every state has its own agencies and departments that regulate scales and inspect them for accuracy. Some states may require a yearly inspection, while others are inspected less frequently. Make sure the scales you purchase will meet requirements for accuracy.
    • Capacity: What is the largest possible load you need the scales to handle? If you own a candy store or a supermarket, would anyone ever purchase 500 pounds of candy? It seems unlikely, so if you’re a purveyor of sweet treats, the scale’s capacity can be lower. For a butcher weighing large pieces of meat, or a UPS shipping store, however, a scale with a higher capacity would be in order.
    • Environment: Where will this scale be used? Choose a scale that’s durable enough for your business. If it is meant for high-volume use weighing food products, choose a hygienic scale designed for easy cleaning. Also, consider where the POS scales will be used. Are there extreme temperature variations? Are there disruptive vibrations, interference from other electronics, or even air currents that could affect the scale’s accuracy? Choose the type of scale with the right features for the environment.
    • Installation and calibration: Choose the location for your POS scales carefully, because you shouldn’t move them around once they’ve been installed. Connect the scale to your POS system so it can be set up and calibrated properly. Scales that are used daily will need frequent calibration to maintain accuracy and stay in compliance with local weights and measures laws.

    Business owners who sell items by weight need an accurate scale to protect their customers and their business. If you’re looking for a new scale for your store or restaurant, be honest about your needs, how accurate it needs to be, where it will be set up and how often it should be calibrated. Taking time to understand your business’ requirements for POS scales and the options available to you will result in a greater ability to provide excellent customer service and to manage inventory down to the ounce—or less.

    Available for Free: Scale Buyer’s Guide



    POS Scales

  • 3 Benefits of Cloud-Ready IoT and Mobile Devices

    3 Benefits of Cloud-Ready IoT and Mobile Devices

    Business owners can monetize cloud-ready IOT data by using it to gain insights into their customers’ behaviors and to communicate with and engage them more effectively.

    The Internet of Things (IoT) is a vast network of connected devices in the physical environment that share information. The things can include RFID tags, customer traffic counting technology, printers, POS systems, digital signage, and customers’ mobile devices.  IoT and mobile devices and sensors collect massive amounts of data about our habits—what applications we use the most on smartphones, the entertainment we are streaming, which retail brands we prefer and the items we purchase. Business owners can monetize this data by using it to gain insights into their customers’ behaviors and to communicate with and engage them more effectively.  Retailers can also leverage the IoT to enhance in-store shopping experiences.

    Here are three ways the IoT and mobile devices can help your business excel.could-retail-e1574796392726

    1. Device Management. IoT technology can help identify a problem before it starts. With devices that have the capability to communicate when they are in need of repair, shoppers never have to wait while a sales associate finds a replacement device.  IoT devices are often able to communicate issues before they are apparent to the user, helping to minimize downtime.

    Cloud-ready IoT and mobile devices can also be managed remotely. Business owners or managers can identify what and where the problem is while working at the store or from home, another store location or sitting on the beach via the cloud dashboard. Error status notifications can tell you in real-time what the problem is—whether a printer cover or cash drawer is left open or if a printer is out of paper or unplugged. Identifying and fixing the problem immediately helps improve efficiency and increase productivity, so you’re never wasting time hunting around for the problem.

     

    1. Data Collection. IoT and mobile devices can collect and store important customer information. A cloud-ready device gives you the ability to transform shopping receipts into valuable digital transaction data. If you don’t have the time or manpower to analyze customer data on your own, data facilitation allows retailers to send digital receipt information to third-party partners or vendors who can offer a wide range of analytic and shopper engagement services. These third-party vendors can run loyalty programs and issue customer updates about new products and promotions. Through these services, retailers can gain unparalleled information about shoppers’ habits and promotional campaigns, including which ones are effective and which ones aren’t resonating, to ultimately increase ROI.

     

    1. Data Utilization. Data collected by IoT and mobile devices and stored in the cloud can be used for other purposes, including digital signage. Digital signage is an interactive gateway that allows a business to communicate directly with a consumer, engaging them while they are in the store. Digital signage is easy to control and can be modified quickly, allowing it to be incorporated into virtually any environment. Depending on the setup and service you choose, you may be able to store your own graphics and update the signage as often as you want. This is especially useful during holiday shopping time, or if you want to promote doorbusters and flash sales during certain hours.

    Cloud-ready IoT and mobile devices can help you gain important insights into your business, customers, and operations. They can help you identify a hardware problem in-store, even when you’re offsite, and collect data that can keep messaging and promotions relevant. Evaluate how your business is collecting and leveraging data to provide better in-store experiences. Are you doing what it takes to be competitive?

  • 3 Things Cannabis Retailers Need to Know About Cannabis Receipt Regulations

    3 Things Cannabis Retailers Need to Know About Cannabis Receipt Regulations

     

    Running a marijuana dispensary requires in-depth knowledge of the local laws and meticulous recordkeeping including retaining copies of each cannabis receipt.

    Running a medical or retail marijuana dispensary requires in-depth knowledge of the local laws and meticulous recordkeeping including retaining copies of each cannabis receipt. As of April 2017, 29 states have legalized medical marijuana, which can be used to treat several illnesses, including multiple sclerosis, HIV/AIDS, inflammation, pain, mental disorders and substance abuse, among others. In addition, 9 states have legalized recreational use. That means cannabis retailers are legally operating in more than half of the U.S.

    Their businesses can be very different, however, depending on the states in which they are located.  One difference is startup costs. For example, annual licensing fees range from $3,000 in Colorado to $75,000 Connecticut. States may also require a minimum of liquid capital, some places as high as $250,000, so it’s imperative you protect your investment with perfect recordkeeping of every transaction. Retaining a copy of every cannabis receipt ensures your dispensary follows state and local laws and protects your business in the event of an audit.

    What should the receipt include? How can you prove your business is operating in compliance with state and local laws? The cannabis receipt provided to the customer proves you are collecting all the relevant taxes and dispensing marijuana legally.

    If you are considering opening a marijuana dispensary or you want to make sure your business is operating in compliance with your state’s laws and make sure you are correctly formatting and recording cannabis receipts, your point of sale (POS) system is the perfect tool to manage this requirement.

    1. Check the Specific Requirements in Your State

    Understand your state’s tax laws to ensure you are charging the correct amount. For example, in California, retailers charge a consumer-excise and sales tax, while in Colorado, cannabis is subject to different taxation, whether it’s classified as medical or retail marijuana. It’s important to stay up to date on changing tax laws to ensure you are collecting the correct percentage. Failure to comply could subject your business to fines and added scrutiny.

     2. Manage Copies of Cannabis Receipts

    Use your POS system to send a backup copy of each cannabis receipt to the cloud or store the backup offsite. If you are issuing receipts with carbon copy paper, staple or clip the receipts together. It’s also a good idea to keep important financial records, licensing information and other sensitive financial paperwork in a secure place outside of the dispensary. Retain all records for a minimum of three years in case of an audit.

     3. Include All Required Information on the Cannabis Receipt

    Although the exact information you include will depend on your state’s laws, most receipts will include store name and address, the category of taxable products or product category name/product name. Receipts should also include a code or other identifier for the product’s taxes. There may be additional requirements, however. In Oregon, it’s required to list the sale subtotal before tax, amount of state tax, local tax, total sale amount and identifying receipt number. A disclaimer stating that receipts are required for customer tax disputes is also required.

    The cannabis industry is promising for dispensaries, but it is tightly regulated by the states where marijuana has been legalized. Give your business the best chance for compliance and success with a POS system equipped with state-of-the-art printers to meet regulatory requirements while providing convenient customer experiences at the checkout.

    Contact the experts at Star to learn more about ideal solutions for the cannabis industry.

    How Resellers Can Cash in on Cannabis Point of Sale

    The cannabis industry has become one of the fastest growing markets. Here’s how resellers can take advantage.



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