Point Of Sale (purchase) (POS) is the hot seat of any retail business. More the customers at POS mean more business growth! But can retailers retain customers using traditional mean of operations?
You may bring customers, but they may desert you if you don’t provide efficient check-out system and friendly staff. Customers these days least preferred to wait (waste time) at POS counters to pay bills after spending (enough) time in selecting their merchandise. Modern technology has paved the way to treat customers for easy checkouts, whether at POS or at anywhere in the store.
But POS systems are not there just to aid customers at checkouts. Modern POS is much more capable than a glorified cash register.
If your business requirements include Customer Relationship Management (CRM), Inventory Management and enhanced operational efficiency, then you must consider a POS system.
Let’s see why a retailer should prefer a POS system to improve his business.
To Regulate Inventory Movement
Whether it is mom-and-pop environments, ecommerce, online shopping and order and pick up system, customers’ buying decision is mostly driven by one factor – stock position. If your store doesn’t have stock of a particular item, customers can find the item elsewhere in just a matter of minutes. So, it is mandatory to automate the inventory management system at your store to keep tab of the stocks in real time.
A POS system can help execute purchase orders, make decision to move items from one store to another, peak-hour staff management and adding inventory into stock. If you own an Ecommerce portal, a POS can provide customers with real-time view of inventory availability.
Focusing on the growth
The ability to enhance your business brings in new opportunities. But it can also lead to more in-store difficulties. If you want to expand your operations with additional products or sales channels, a POS can make the transition easy and efficiently manage your inventory and business operations.
Pamper them with Mobile POS
As I said earlier, customers do not want to spend even an extra minute at check-outs. You may succeed in getting more customers to your shop and luring them to fill their shopping kart. But if you don’t have efficient staff and equally efficient POS system at billing counters, you may tend to lose them.
Studies have shown that a checkout line can upset customers’ mood and distort their purchase behavior, though the wait time is minimal at POS. Arm your staff with mobile hand-held POS terminal, mPOS or mobile POS tablets, so that customers can be attended and billed anywhere in the store by-passing the checkouts.
POS as business enabler
Finding customer behavior and business transactions over a period of time is time consuming if traditional cash registers are used. Moreover, the data may be error prone and your business decision may go totally haywire. You need to have a POS system to research past transactions to find inconsistency in financial records, customer behavior tracking, improve efficiency of your staff, study sales pattern over a period of time to plan future course of action, and so on. All these you can do it in a jiffy, if you have a competent POS system at your disposal.
Improve Your Marketing Response and Sales Efforts
Customer retention is possible when you have staff at POS who are courteous and engage meaningful conversation with customers. A POS system can aid this and much more. Your staff can access information about customers’ buying behaviour and engage them with personalized conversations to guide suggestive selling. With POS system, you can send customized offers to them through email or sms for better marketing response, reduced acquisition costs, and increased marketing Return on Investment (ROI).
Efficient POS Vs Staff
An efficient team of sales staff can take your business to high level. If your staff is tech-savvy, you can automate several store operations to increase customer satisfaction and operational efficiency. Most importantly, you staff is capable of handling new technology including the POS system. Try to bring in the technology, which can be mastered in minimum possible time or required less training.
Better to have a plug-in type POS system to reduce the productivity loss while training staff to handle new POS system, which includes both software and hardware products like cash drawer, receipt printer, POS touch monitor, barcode scanner, etc.
So, when you plan to expand your retail business with new POS system, choose the system wisely after doing a thorough market research in terms of brand, software, serviceability, warranty, price, adoptability, etc.