Vape shop owners are constantly looking for the best ways to stay ahead of their competition in an industry that has done nothing but grow over the last decade. The e-cigarette market will generate over $29 billion in revenue, according to Statista, which is almost double the amount in 2018.
Taking advantage of a growing customer base requires the best hardware and software for your specific business. Every vape shop will differ in marketing and product selection, so it's important to make sure you have the right point of sale (POS) system.
Vape shops face unique challenges daily, ranging from age verification to a wide variety of products in stock. It’s hard for vape shop owners to find the time to manage all of the smaller aspects of their business while keeping the focus on the customer experience.
POS Systems have evolved over the years from a system that deals purely with transactions to a software system that helps manage inventory, create marketing campaigns, and keep customers happy.
With the vape industry growing rapidly, there are a few features that your store will need in its POS system, especially with changing laws and regulations.
One of the most important features of any vape shop POS system is high-risk processing. Any purchases of CBD, delta 8, or kratom are classified as high-risk transactions, so you need the proper system in place if you sell (or plan to sell) any of those products.
Vape shops are seen as high-risk businesses. This means that banks (or other financial institutions) are generally less willing to provide them with merchant services. This means that vape shops need a reliable point of sale system to mitigate risk.
Ultimately, if your vape store wants to offer certain in-demand items, having a POS system with high-risk processing is necessary. Cigars POS is a modern solution that offers high-risk processing, making your vape shop’s transactions more secure.
With such a wide variety of products that vape shops offer, it’s important to have a system to keep everything organized. A POS system with inventory management features could save you hundreds of hours of manual labor on inventory each year.
Imagine not having to worry about re-ordering popular products or tracking how much stock you have of certain items. A vape shop POS system can do it all for you. This also means overstocking is a thing of the past. Building a better understanding of how to manage the stock of your vape shop is going to save you time and money.
Every business has regular customers, and vape shops are no different. Offering rewards to repeat customers based on sales data allows you to keep them happy and coming back to your store.
You can do this through targeted email campaigns, offering rewards on first-time purchases for new customers, or sending surveys that activate a discount after completion.
If keeping the customer happy is a goal for your store — which, let’s be honest, is more important than anything else — your vape shop POS system needs CRM options that excite your shoppers to come back to your store consistently.
Selling vape products means that your shop will need a reliable age verification system — one that gives you peace of mind as a business owner. Many POS solutions have integrated scanning technology that ensures the validity of your customer’s identification. It’s easy and only takes a few seconds.
Additionally, your vape shop POS system should have a record of age verification checks, which is essential during inspections or audits, keeping your business secure and safe from any laws or regulations.
Many systems also have pop-up alerts when an age-restricted item is scanned, meaning your staff will never miss when customer’s ID needs to be checked.
One of the best features that many point of sale systems offer is the ability to scale your vape shop easily. A system that allows you to manage multiple locations with ease makes sure your stores don’t drop in quality after expansion. With a centralized inventory system, you can seamlessly transfer stock between locations and manage orders from a single platform.
Additionally, the best vape shop POS systems offer a customizable experience for employees throughout the organization. This means that you can assign responsibilities pertinent to their jobs, minimizing security risk and enhancing the efficiency of your vape shop(s).
Cigars POS offers a variety of features that vape shops need in their point of sale system. From age verification to high-risk processing, you’ll have everything you need to stay within the legal requirements for many transactions you’ll encounter daily.
Additionally, you would have the tools to go above and beyond for your customers, ensuring you always have the most in-demand products, customer reward options, and the ability to expand your operation seamlessly.
Schedule a demo with a leading industry expert to see how Cigars POS could level up your vape shop.