Business

Theft-Proofing Retail: How TRACARTS Revolutionizes Cart Security

Published

4 months ago

July 29, 2024

The problem of shopping cart theft is as old as the shopping cart itself. According to the Food Marketing Institute, approximately 2 million shopping carts are stolen or simply go missing every year, leading to substantial monetary losses for retailers that trickle down to the everyday consumer.

The escalating cost of living is a growing concern not only for consumers but also for retailers. While stolen carts may not be making regular headlines, they are a costly issue that threatens to worsen the economic strain that has already taken hold, with entire municipalities now getting involved in the missing cart problem.

Recently, the city of Fayetteville, North Carolina, earmarked $78,000 of taxpayer funds to tackle the cart problem and used the money to round up as many missing carts as possible over a two-year period. Albuquerque, New Mexico, ran a similar program, retrieving over 1,800 carts in just two months.

Missing and stolen carts create economic hardship, issues for consumers, and blight for cities. Thankfully, TRACARTS is a company stepping forward with a technology-informed solution, working to significantly reduce the number of carts that are stolen or otherwise go missing every year and save retailers time and money.

The cost of wayward carts

With each cart taken from a retailer, that retailer stands to lose upward of $180. Yet the millions of carts that go missing each year are a significant hit to not only the retailer but also the shoppers because when retailers seek to recoup funds lost due to missing and stolen carts, they are often forced to raise their prices.

TRACARTS has considered the human element of the cart problem with its system. In fact, the psychological aspect of the TRACARTS system is likely why it works so well.

“There are those retail stores that protect their carts by charging money from customers, who get a refund once their cart is returned,” says Chaya Grosinger, Chief Administrative Officer for TRACARTS. “In the U.S., this security measure is utilized with a quarter. If you wanted a cart, would you be willing to spend or lose 25 cents for a cart that costs upwards of $180?”

There is also an altruistic side to the cart problem that TRACARTS is leveraging. Recently, the question of whether one returns a cart after use has become a social media test of moral righteousness. The general consensus seems to be that “good people” return carts, while those who don’t face society’s harsh judgment.

This litmus test is part of TRACART’s multifaceted approach to solving the missing cart problem. TRACARTS is betting on the good feeling that comes from returning one’s cart.

A tech-informed solution

Along with psychology, TRACARTS is also using technology to address the issue of missing and stolen carts. They know that the psychological pull of a “good deed” may not be sufficient to truly address this costly issue, so the solution must be multifaceted.

The user-friendly TRACARTS system makes it easy to track and secure shopping carts while they’re in use and when they are returned. The TRAC hub — a series of customizable shopping cart trains arranged in one, two, or three multidirectional lines — can be installed in any retail store’s parking lot. Strategic placement of the TRAC hub allows for easy access to the carts without having to weave through parked cars.

When the carts are not in use, the TRAC system locks them into place. They can be released through the system’s smart technology program, with the TRAC kiosk acting as the customer interface that dispenses or accepts them. Shoppers can use a White Label app, a fob, a PIN code, or a phone number, among various other identification forms, to release the carts.

Returning the carts is hassle-free. Shoppers simply place the carts back into the TRAC hub without further interaction with the kiosk.

The integration of smart technology is another facet of the TRACARTS system that makes it stand apart from other solutions. It provides retailers with valuable data analytics and ways to engage with their shoppers. TRAC dashboard is entirely customizable, allowing it to meet the specific needs of different retailers depending on what date they are interested in collecting. Shoppers are incentivized to return their carts and given access to special promotions, such as VIP discounts and rewards, culminating in a positive shopping experience for both the shopper and the retailer while also gamifying the cart return process.

While the issue of stolen and missing carts will not vanish overnight, TRACARTS is deploying advanced technology, social consciousness, and psychology to help retailers save time and money. As more retailers realize that this problem will not simply go away on its own, they will turn to solutions like TRACARTS to help them manage their cart inventory and make shopping at their stores a more pleasant experience.

Business

Transform Your Expertise into a Profitable Online Coaching Business with Jon Penberthy

Published

3 weeks ago

November 3, 2024

Matthew Wiles

Transforming your expertise into a successful coaching business requires a strategic approach to monetizing your knowledge, with a strong emphasis on client satisfaction and adaptability to their evolving needs. By prioritizing these factors, you can build a coaching practice that flourishes, provides long-term value to your clients, and supports sustained growth for your business.

The potential for this growth is underscored by the global online coaching market, which was valued at $3.2 billion in 2022 and is projected to reach $11.7 billion by 2032, reflecting a compound annual growth rate (CAGR) of 14% from 2023 to 2032.

Jon Penberthy, founder of AdClients and a leader in online coaching, highlights the significance of the knowledge economy in today’s marketplace. He notes, “The knowledge economy is now worth over half a trillion dollars a year. That means every year, people like you and me are paying others—not for physical products, but for the exchange of knowledge.” This shift presents a compelling opportunity for those willing to leverage their expertise in this evolving market.

Penberthy’s philosophy emphasizes the power of positive thinking and challenges traditional views on credentialism and rigid professional roles. He asserts, “Nowadays you only need to be one step ahead of someone else for them to be willing to hand back some money to learn from you.” His success as a how-to coach exemplifies this approach, showing that with the right mindset, anyone can turn their knowledge into a flourishing business.

Essential Steps to Starting Your Online Business

At the heart of any business plan is the decision about what type of product you will provide in the online marketplace. Jon Penberthy explores various possibilities, from relationship counseling to pet care, ultimately settling on a widely sought-after internet offering: personal health and fitness.

“Let’s say you do not have a personal trainer certificate, but you have figured out a specific nutrition and exercise regime that works,” he states. “There are people out there who want to look how you look and are willing to pay you for your knowledge … the opportunities are endless – you just have to ask yourself what you know that is a little bit more than those around you. That’s the starting point for your own training program.”

The next step involves packaging your training for an online audience, and Penberthy recommends creating a series of recorded videos as an effective approach. This leads to the question of how much to cover in the initial video and the order of presentation.

He suggests finding friends and family who are interested in your topic and willing to learn more. By selecting a few volunteers and teaching them over several weeks for free, while taking diligent notes on what works and what doesn’t, the teaching process will gradually reveal itself.

Build a Sales Funnel

Regardless of how your business attracts customers, potential buyers often follow a similar path, asking common questions and taking comparable steps when deciding whether to make a purchase. A sales funnel is an effective way to visualize this journey, offering valuable insights into the customer experience. It helps you see the sales process through their perspective while also serving as a practical training tool for your sales team.

Penberthy highlights the importance of this approach, “A sales funnel helps transition potential customers from being strangers to ready-to-buy clients,” he explains. By breaking the process into a series of steps, the sales funnel gradually informs and engages potential customers, guiding them toward a purchase decision without overwhelming them with information.

Attracting Attention—The ‘Eyeball’ Factor

Once you’ve understood the initial steps for setting up your online coaching or course, the next challenge is attracting people to your funnel, often referred to as the “eyeball” factor. “Bringing traffic to your site involves content creation and deciding between organic (unpaid) traffic through various social media channels or, if your budget allows, paid traffic,” Penberthy explains.

Penberthy explains that with organic traffic, individuals will be active on social media, creating content designed to build an audience interested in their topic. He adds that if one can invest some funds, paid advertising—especially on YouTube—can be an excellent starting point, as it delivers instant traffic compared to the uncertain outcomes of organic posts.

Once the advertising strategy is established, the next step is to continually refine and enhance the course, making it more concise, message-rich, and easier for potential customers to understand what is being offered.

He emphasizes that this process isn’t just about feeling good about one’s work; it’s about boosting conversions. The more effective the campaign, the more referrals satisfied customers will provide when recommending the program. A stronger program also allows for higher pricing for the services offered.

After refining your online advertising strategies and advancing your course or coaching development, the next step is to scale up. Penberthy suggests that this may initially involve what he refers to as “the pop-up offer” or one-on-one coaching, enabling you to start selling your course in 48 hours or less.

He notes that this phase requires a significant investment of time but is crucial for growing your business with clients who will not only pay for your expertise but also recommend your courses to a broader audience. However, he emphasizes the need to leverage your time effectively, as there are only so many hours in a day.

The key to success in online courses lies in combining “low-ticket” (mass appeal) content with “high-ticket” one-on-one training. “I take the stand-alone low-ticket coaching and wrap it around the one-on-ones to create the concept of “high-ticket” group coaching, which is a limited-subscriber webinar-based training pitched at high-end clients who are willing to pay a premium to overcome their seeming lack of success in the online marketplace,” Penberthy says.

By implementing this strategy, he adds, you can not only maximize your time in the business space and free up energy for friends and family but also potentially increase your monthly income to four or five figures, ultimately leading to an annual income of six to seven figures.

Jon Penberthy’s insights provide a clear roadmap, emphasizing the importance of understanding your audience, leveraging effective marketing strategies, and continually refining your offerings. By combining low-ticket and high-ticket training approaches, you can maximize your reach while delivering exceptional value to your clients.

As you embark on this path, remember that your knowledge and passion can not only lead to financial success but also empower others to achieve their goals. Embrace the opportunities ahead, and watch as you build a thriving coaching business that makes a lasting impact.