News & Events

News Hub

Money counters help retail managers save time in the backroom

Money counters can make all the difference in helping the managers of retail stores save time performing backroom processes. As the U.S. economy continues to regain its footing in the wake of the Great Recession, many stores in a variety of industries across the country may experience a significant increase in sales.

American consumers are still relatively hesitant to make large purchases on products such as automobiles. However, recent data released by the National Retail Federation suggests retail organizations that specialize in selling smaller-scale goods - in other words, products that could be easily purchased with cash - have experienced a substantial increase in activity in recent months. According to a press release from the NRF, overall retail sales across the nation decreased in September when automobile, gas station and restaurant numbers were included in the picture. A separate report eliminating those three industries revealed much different results.

In fact, sales in all other sectors of the retail industry increased 0.6 percent during September when adjusted seasonally from the previous month. Unadjusted growth year-over-year measured 3.8 percent.

"Falling gas prices combined with rising housing and stock prices continue to support consumer spending, and the broader economy," Jack Kleinhenz, chief economist for the NRF, stated in a press release. "While far from robust, consumers are shopping, but they are spending both discriminately and moderately. Volatility still persists in various retail sectors but spending has somewhat stabilized heading into the all-important holiday shopping season."

A recent article from The Record, a newspaper published in New Jersey, said lower gas prices often have a profound impact on consumer spending habits, as it is often one of the largest regular household expenses. However, if gas prices continue to fall, consumers will likely have more cash on hand to spend on smaller purchases at other retail establishments. As a result, store owners can experience substantial benefits by investing in cash counters that make it easier to count large amounts of money at the end of the day.

December 2, 2013