What Headwinds? Equipment Buyers Are Feeling Breezy
Almost 40% of buyers are upping orders. Sunny forecast: Despite yet another rate increase and continued economic headwinds, small-business equipment finance activity is rising. In our survey of over 6,000 small-business decision makers, only 9% were delaying an equipment purchase because of the economic climate… …While 38% were increasing their equipment appetite for 2023 over […]
POS-Recommended Products Yield Strong Sales
Suggesting products prompts more purchases. Question: How well do POS system-suggested “Next Best Purchase” offers work in the wild? Answer: Really well. In a survey of over 15,600 retail buyers, we found: 58% of buyers have made a purchase based on an additional product recommendation while shopping in the last 6 months. 78% of those […]
Credit Card Usage Is Up
When times get tough, customers rely on credit. Each month, TimePayment accesses POS industry research to help guide you on making the most of today’s opportunities. Today we explore increasing credit card usage in the face of economic turbulence. By the numbers: We surveyed more than 2,300 retailers and found: 29% reported increased credit card […]
Industry Roundup: Vendors Are Seeking Alternatives
The time is ripe to reach out It’s been difficult to break through and establish new vendor relationships at scale in recent years. New banks entering the market with very low capital costs—and boasting new technologies that allow for almost instant approvals—have created strong barriers to entry. Yes, but: With recent disruption and a […]
Where do smaller companies go for equipment financing?
Vendors have the edge. Where do most small businesses secure equipment financing? Here’s a hint: It’s not their primary bank. The real deal: A recent Sawbux survey of over 5600 small businesses found that those choosing their primary bank are in the minority. By the numbers: Here’s a breakdown by industry segment: Takeaways […]
Rewards Drive Behavior
Younger consumers are points-focused. Pulse check: What do customers think of payment rewards? Research from Sawbux and PYMNTS.com found: 35% of Gen X consumers prefer to use a payment method because of the ability to earn points or rewards. Meanwhile, 20% of Millennials won’t even use a payment method that does not earn them points […]
Small Ticket Construction Equipment Financing Demand Is Up
Here are the facts. Here’s a surprising stat: Application volume for construction equipment under $40,000 is only 7% off all-time highs. App volume is also higher than it was in 2017 and 2019. Why it matters: With all the talk of a looming recession, higher rates, and bank tightening, you might think that demand for […]
In the News: Biometrics & Cash for Guilty Pleasures
3 Payment Industry news stories to know Get caught up fast: Here’s a roundup of recent Payment Industry stories you may have missed, collected from Payments Dive. 1) The human touch: The U.S. has been slow to adopt biometric payments, but that could change as new tech emerges. Read the Story: “Will biometrics be the […]
POS Data Drives Real Revenue Increases
9 in 10 businesses saw results in 60 days. Each month, TimePayment accesses POS industry research to help you make the most of today’s opportunities. This month, we examine how leveraging big data from POS drives business opportunities. The big takeaway: 9 in 10 foodservice businesses who used POS data to improve the customer experience saw […]
Cash Preservation Is The Name Of The Game
The reality: This winter’s dire forecasts haven’t come to pass. Even in the face of rising rates, inflation, and labor problems, the overall economy has remained relatively strong.
