If your grocery store’s point of sale system doesn’t accept EBT, you’re missing out on serious sales.
Accepting EBT payments is a simple way to build a larger customer base, boost your business’ revenue, and make your grocery store more accessible and inclusive to everyone in your community.
In this blog, we’ll explore exactly what EBT is, and four must-know grocery industry insights about EBT POS systems.
What Is EBT?
The Supplemental Nutrition Assistance Program (SNAP) is a federal initiative that helps low-income families and individuals access and afford nutritious groceries. EBT, which stands for Electronic Benefits Transfer, is how SNAP recipients utilize these benefits.
With EBT, eligible parties use a card similar to a debit or credit card to purchase food at participating grocery stores that accept EBT payments.
Here are four things you need to know as a grocery store owner about accepting SNAP benefits with an EBT POS system.
1. EBT Recipients Make Up a Significant Portion of the Grocery Market
The number of SNAP recipients has risen sharply in recent years, with 41.1 million Americans using EBT to purchase their groceries. That’s 12.5 percent of the country’s population.
With more than one in 10 people receiving SNAP benefits, EBT payment acceptance is a major consideration when families are looking for a go-to grocery store.
Since SNAP is available to residents of all states and U.S. territories, there’s likely a large segment of your area’s population looking for a grocery store with an EBT POS system.
2. An EBT POS System Can Grow Your Customer Base
If you don’t currently accept EBT payments at your grocery store, you’re missing out on a large group of potential customers.
Accepting SNAP benefits through an EBT POS system means that more people in your community can afford to buy their groceries at your store, putting you well on your way to building a larger loyal customer base.
An added benefit is that accepting EBT payments also cements your grocery store as a pillar of the community and an accessible provider of nutritious food for families in need, creating goodwill with everyone in your neighborhood.
3. An EBT POS System Can Boost Your Sales
Since EBT directly reimburses SNAP beneficiaries when they purchase groceries, EBT payments are equally as profitable for your grocery store as any other card or cash payment.
That means that an EBT POS system boosts your overall sales and revenue by allowing anyone in your community to do their grocery shopping at your store.
An EBT POS system means more sales for your store from SNAP recipients and the opportunity to share your high-quality items with the families who need them the most.
4. How To Choose the Right EBT POS System
Many grocery-oriented point of sale providers make accepting EBT payments just as easy as processing any other card or cash transaction.
If you’re in the market for a new POS system for your grocery store, EBT payment support should be a must-have on your list of requirements, so that you can widen your customer base, boost your sales, and share your store’s amazing selection with families in your community who need nutritious foods the most.
IT Retail is an excellent option if you’re in search of an EBT POS system. Along with seamlessly accepting EBT payments, IT Retail has a plethora of other features like advanced inventory management, detailed reporting and analytics, and convenient online grocery options that can streamline your operations and help you grow your small business.
What are you waiting for? Schedule a live demo with IT Retail today to see how you can become your neighborhood’s go-to grocery store.
