Online shopping has swept the entire world with more and more people relying heavily on buying things online while staying within their comport zones using sophisticated handy electronic devices.
Though these online shopping sites have created a dent on the traditional physical stores and small and medium retail businesses, there was a general perception that these mom-and-pop stores will soon go out of business. But thanks to the growing POS technology and survival instincts, these retailers are now giving a run for money to the online shipping retailers.
Compare to online shopping, brick-and-mortar stores have their own limitations and advantages. Though customers can’t have a guided shopping tour in physical stores and enjoy seamless buying experience, these stores are now catching up with the latest technology and offer customers with the best ever in-store buying experience.
Most of the mom-and-pop stores in India do not offer online or digital payment facility to customers and so the later have no option but to spend a lot of time in queues at POS just to make payment for the merchandise.
Modern technology has revolutionized the POS sector in the recent times with retailers of physical stores succumbing to the growing demands from customers for best in-store shopping experience and omni-channel transaction facilities, adopting modern POS technology to stay in the competition.
With over 90 per cent of Indians still preferring to shop at physical stores, brick-and-mortar stores are not going to fade away but with new mobile POS technology, are making customers engaged and enthralled.
MPOS as cash register
No more bulky touch POS monitors and associated paraphernalia such as barcode scanners, cash register, card readers, POS printers, pole displays, etc. There is also no need to allot more space in your retail store to keep your POS terminals. Just have a mobile phone like gadget or a tablet POS and you are up there to run your retail store successfully.
Mobile Point of Sale, also known as MPOS, is a hand-held POS terminal which can perform a host of retail business functions, cost effective, user-friendly, give best customer experience and can grow business manifold.
Not only does it speed up billing process, enhance shopping experience and bill customers wherever they are, it also helps retailers to have details on inventory movement in real time, staff performance, customer preferences, customer footfalls and analytical data and graphs which help store managers to take important business decisions. MPOS can be useful for multi-store management, payroll and staff management and customer relation management for better store operation, efficiency and growth.
As Mobile POS can be easily integrated, retailers can operate more number of MPOS devices simultaneously inside a store and the sale data can be stored instantly in the main console or on cloud.
Due to its simplicity, advantages and reliability, retailers are increasingly depending upon Cloud technology, which help them to add up multiple MPOS devices and establish new stores quickly.
With mobile technology becoming a major factor for growth in several industrial sectors in India, retail sector too has adopted this technology wholeheartedly to enhance its growth prospects.
According to 451 Research forecasts, there will be over 54 million units of installed MPOS devices worldwide by 2019 serving several verticals of retail businesses giving tough challenges to the rapidly growing online businesses. This emphasizes the fact that brick-and-mortar stores are here to stay and well set to move along with the online competitors.