Geofencing to drive in-store and online sales in pawnshops

As eCommerce continues to transform the retail, operators are increasingly turning to technology to help drive new sales and customer retention. Pawn operators are selling online and looking for additional ways to drive traffic.

Have you heard of geofencing?  Geofencing uses virtual geographic boundaries to enable software to trigger a response when a mobile device enters or leaves the area. “The idea of geofencing is to assist the customer during their shopping journey and enhance their experience, making it easier and more convenient to shop,” said Michael Levine, the vice president of marketing at Photon, an omni-channel digital experience provider.

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The global geofencing market size is estimated to exceed $500 million by 2023. Pawn operators can, and should, begin experimenting with geofencing now as their direct competitor big box operators like Wal-Mart, Costco, and Best Buy already are.

Good news for Buya users – Geofencing is configured for your store the day you activate Buya.

Bravo Pawn Systems’ omnichannel services include a daily feed into Google, Bing, and Yahoo every single day. We also bid on Google AdWords Product Listing Ads for you. These product listing ads are geofenced to your store’s location meaning Bravo drives foot traffic to your store daily.

Buya is the 8,454 most popular website in the United States. We reached nearly 1 million page views in July and 65% of our traffic comes from mobile (see above: why geofencing is important). Each company on Buya receives an average of 52 impressions per day. That’s 52 times per day that a consumer is seeing your logo, brand, and presence. Huge added bonus is that Buya average gross profit this month is 55%, with some customers reaching more than 60%.

Interested in learning more about the future of online and in-store selling? Call us at 888-407-6287 ext. 2.

Learn more about Geofencing: Retail 101: What Stores need to Know About Geofencing Mobile Marketer: 6 Geofencing Tips for Retailers to Deliver Targeted Advertising

About the author

Tally Mack

Tally Mack

I grew up wanting to be a pawnbroker. It’s in my blood (I’m a 5th generation pawnbroker). I started selling jewelry in my dad’s pawnshop when I was 10 and put my first ring on layaway when I was 12. The best thing next to working in retail is working with retailers. I’m a lawyer, a pawnshop lover, and an eCommerce enthusiast.

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