Point of Sale Systems – the future is mobile, contactless and personalised
The increase in online and contactless retail has seen a need for more advanced POS systems for a greater personalization of the customer experience. The POS system sits at the heart of retail and improving POS technology has many benefits for both customers and businesses.
A cloud-based POS allows data to be instantly accessed for an omnichannel view of transactions and inventory. This means that businesses have a real-time view of in store and online transactions which are integrated to improve stock management. With this wealth of consumer data available, retailers can optimize the shopping experience and improve business efficiency. Another advantage of a cloud-based POS solution are the automated updates which allow retailers to easily keep up to date with the latest technological changes and therefore can stay ahead of the competition.
In a survey conducted by Accenture, “91% of consumers said they tend to shop with businesses who know them and give offers and suggestions that are relevant to them.” The right POS system allows retailers to personalize customer experiences by using machine learning to analyze past interactions and to recommend products. Intelligent retail will learn shopping behaviors and allow for hyper-personalized product offers and suggestions, therefore improving customer loyalty.
Contactless ordering and payment have become a major consumer concern since the start of the Covid-19 pandemic. Interesting developments in contactless technology for example US store Showfields who have developed the app to allow for a complete contactless, in store retail experience. Customers can interact with any product through the mobile App and all products are added to a virtual cart. This gives consumers the option of a completely digital experience on their mobile device whilst having a physical shopping experience.
Retailers need to be creative to keep pace with their competitors, and to make the retail experience as safe and convenient as possible. Modern POS technology will attract and retain a customer base and can embed into core business operations. The solution should be an essential part of any retailer’s business and ensures that they stay relevant in an increasingly digital world.