A major shift is taking place in salons, and it's not what you would expect. Yes, products and techniques are constantly improving, but the shift I'm referring to is the digital transformation of payments. People are carrying less cash and looking for more convenient ways to pay and more personal methods to tip. That's where solutions like ours here at Tippy come into play.
We solved the "big three" tipping issues - real-time (instant) delivery, zero tip-processing fees for the owners, and an average 22.3% increase in tips through our personalized messaging.
Tippy's focus the last several years has been on optimizing the tipping experience for all parties. And I'm going to brag and say our team at Tippy has done a great job of leveraging modern technology and new payments features to make all this possible.
So, what's next? Retention is significant, and thus so are tips - they can represent up to 25% of a stylist's income. We believe it's not just a salon owner's responsibility to get the tips up and out to the stylists, it’s also the industry's responsibility to provide stylists an "optimized" experience once the monies reach their accounts.
Banking technologies are evolving as fast as payments, and there are many new opportunities and products available to make stylists' lives better at home. Banking products once only offered to the elite few are now available to all. We’re talking features like no-fee debit cards, free ATMs, unlimited free ACH transfers, early payroll, cash-back rewards programs, and wallet-based banking!
This is where Tippy is now turning its focus. It's no longer just about making the tips, it's also about keeping and growing them. Give us a call to learn how you can look at the bigger picture and get your employees started on their financial wellness journey today. And stay tuned to Tippy’s new "Lifestyle" campaign! We couldn’t be more excited about the future!
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