Today’s retail technology is defining the way that brands are interacting with customers. Providing excellent service and having the right stock are still the absolute essentials when it comes to successful retailing, however, forward thinking retailers are capturing market share with new technology that include specific EPOS features to enhance the customer experience.
Clever adoption of the latest POS systems is levelling the playing field for smaller, independent retailers, enabling them to challenge the bigger players. With new EPOS features now available, the new POS systems can act as a central point for all aspects of a retailer’s business – from stock management, fulfilment, e-commerce and financial reports and customer marketing.
We’ve identified four key trends in retail POS technology that can help you to compete in a fast moving market;
1. Customer experience
While online shopping continues to grow, customers are still visiting stores to see and feel goods. The instore experience is becoming increasingly important. Faster checkout times, a choice of payment options and easily accessible product information are all key to a successful visit.
The best EPOS features integration with your stock and warehouse systems, so that your staff can provide advice on availability across your entire store estate, and enables you to transfer items for customer collection or delivery. As well as processing transactions, they can also provide email receipts, making it easier for the customer, reducing paper and streamlining the sale.
2. Faster payment
Today’s shopper is often cash rich, but time poor and won’t stand in long queues waiting to pay. Providing contactless payment, including smartphone payment options like Apple Pay and Google Pay is a faster, more convenient way to let customers pay. Investing in the latest systems that include EPOS features to accommodate these new payment methods ensures your customers never abandon their basket.
3. Collecting customer data
Research by Accenture has shown that 83% of shoppers are willing to provide their information in exchange for a personalised experience. Smart retailers are taking advantage of this trend by collecting data from their customers, and using the latest POS systems makes it easy for your customers to do so.
By collecting and analysing customer purchases you can gain insights on what they may buy in future, and create personalised promotions and discounts to entice them instore or to buy online. The latest EPOS also provide additional reporting features that present sales data in easy to understand formats so that you can make more effective business decisions. You can see at a glance which lines are selling well, according to colour, size or if you have multiple outlets – by location.
4. Going Mobile
New mobile POS and tablets can provide smart ways for customers to pay and reduce queues at the till point. They make it easier for your staff to assist customers on the shop floor, to answer any stock queries or provide style advice.
Mobile solutions are also a key technology trend, as new apps are enhancing the shopping experience. Apps like Eurostop’s MyShoppr™ are available and run on any smartphone device, enabling the shopper to check stock instantly on the shop floor, research products and product lines.
Getting the balance right instore is tricky. While some customers like to be left to browse alone, others like a true personalised service to help them choose the right product. The great thing about the latest EPOS tech is that by using some of the latest features available, you can enhance your instore service to keep your customers coming back, however they like to shop.