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New Point of Sale is Crucial to Innovation in Retail

June 9, 2017

Over the past few years, consumers' preferences for how they make payments in their everyday lives have evolved considerably, and it's crucial that retailers adapt to these trends.

 

Over the past few years, consumers’ preferences for how they make payments in their everyday lives have evolved considerably, and it’s crucial that retailers adapt to these trends. A big part of that type of adaptation involves continually revisiting needs for point-of-sale devices and systems that allow companies to get a better handle on managing all aspects of everyday transactions. This is especially important as EMV and mobile continue to play a bigger role in the overall payments ecosystem.

When merchants are on the lookout for the best available point-of-sale options for their specific needs, working with a trusted reseller can go a long way toward finding a solution that works best on an ongoing basis.

There are a number of emerging trends for merchants, large and small, to keep an eye on as it relates to point-of-sale devices, according to PointofSale.com. Perhaps the most important of these is the way in which modern POS allows companies to more effectively collect and analyze sales data as time goes on, giving them the ability to better monitor their inventory, spot trends, and get a better feel for what their customers want.

Modern point of sale is evolving rapidly, and merchants must move to keep up.

Taking the next step
Armed with that type of information, companies will then have the ability to change how their stores are laid out or function, helping to better personalize shopping experiences, particularly for those companies that want to merge e-commerce with the in-store experience, the report said. Moreover, because POS data is increasingly being stored in the cloud, it’s vital for companies to examine whether it’s wise to upgrade to the latest POS technology regularly, especially because of the ease and additional access to critical data these emerging options provide.

PointofSale.com further points out that another way in which customer expectations have evolved is that they just don’t want to wait in line like they used to, the report said. To that end, having the ability to quickly and easily process any card- or mobile-based purchase is vital, and it may be wise for merchants of all sizes to examine their options when it comes to adopting even portable mobile devices that can handle transactions from anywhere within a store.

By using both advanced data and cutting-edge POS technology, companies can gain a far more accurate picture of what they need operationally on an ongoing basis. This helps inform purchasing and staffing decisions to help ensure businesses run at peak efficiency.

Getting involved
Finally, while it’s important to make the most informed choices¬†possible when it comes to modern POS, it’s also worth noting that the longer merchants wait to make a choice and implement new devices, the farther they may fall behind their competitors, PointofSale.com added. The certification process for new EMV and mobile POS devices can take some time, so it’s wise for merchants to get into the game as soon as they can.

Here, too, working with a reseller can help to inform the best possible decisions to ensure merchants are meeting as many of their customers’ expectations as they can, as soon as possible.

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