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Retailers need to know the importance of building customer loyalty for their business. Even convenience store owners, grocers, pharmacies, and other specialty retailers experience the benefits loyal customers bring. Returning customers spend 67% more than new customers, according to business.com.Winning these customers can also increase awareness for your store, ultimately generating more foot traffic. Repeat customers are likely to recommended your business to a friend or write a review,...
By Lori London
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How Accepting SNAP Benefits Builds Business
Food Stamps are provided by the Supplemental Nutrition Assistance Program, or SNAP (a program provided by the USDA), to help people in need purchase groceries for their household. Many people only view SNAP as a way to provide help to members of the community in need, but business owners do not often realize that SNAP benefits make up a great deal of revenue for many retailers that accept them. Today the government distributes these benefits via an EBT card that is pre-loaded monthly with their allotted benefit amount. In fact, the government provides over $80 billion dollars in SNAP benefits, which cardholders use in various stores across the country. Having the ability to accept these EBT card payments in your convenience or grocery store can help you improve and grow your business in a number of ways.
goEBT signage brings in more customers
- Gain more customers
When you start accepting EBT card payments at your store, you’re opening the doors to customers that may have not even been coming in before. EBT cardholders appreciate businesses that allow them to use their benefits on the things they need, especially when it’s convenient.
- Keep the customers you already have
You may have customers already shopping at your store that have not been able to use their EBT card at your store. By accepting EBT payments, you have a better chance of making them a loyal customer and hopefully increasing the amount they spend at your store.
- Increase transaction amounts
Again, this new way to pay means more money being spent at your store. You even have the ability to sell more products. Typically, EBT cardholders will want to buy more substantial food products like gallons of milk or loaves of bread, rather than just a candy bar or bottle of juice (although they still want these, too). Learn more about what items can be bought with SNAP benefits.
When you use goEBT to process EBT card transactions, you have an even better opportunity at growing your profits and building your business. Other card processors will charge you not only a base monthly fee, but also a fee for each transaction you process. Sometimes, these processors even charge a fee depending on the amount of transactions you process. On top of the standardized rates, it’s not uncommon for card processors to tack on hidden fees or suddenly change their rates.
goEBT only charges a one-time account set up fee, and a single flat rate for processing. When we say flat rate, we mean just that. No minimum or maximum transaction fees, no hidden charges, no extra fees for transaction processing. Just one price every month, each month. We don’t even charge for new equipment, repairs, or equipment replacements! You work hard to maintain and grow your business, let us help you with EBT processing.
