POS IN RETAIL & HOSPITALITY
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data to flow between a PoS and external CRM. “For the retail sector, modern PoS systems play a key role in delivering omnichannel experiences. That’s why they need to be engaging for store staff but also flexible enough to perform more than one task. This could be taking payment or having access to a store’s full inventory.” Connectivity requirements Jay adds that customers in the retail and hospitality sectors also have differing connectivity requirements, depending on the required application. “While customers continue to use a variety of connectivity options, traditional interfaces such as Serial are becoming less common,” he says. “Instead, Wi-Fi and Bluetooth are now growing in popularity. This shift is particularly notable among retail and hospitality businesses looking to increase the number of terminals and printers in their brick-and-mortar stores. These wireless interfaces reduce the need for additional cabling and infrastructure, offering greater flexibility in store layout and easier deployment.” Flexible friends Greater flexibility is something that customers also want from their PoS solutions, especially, as Jay notes, as mobile and kiosk PoS solutions are becoming critically important in the retail and hospitality sectors. “Their popularity is set to grow as they provide significant benefits by reducing queues and therefore improving customer experience,” he says. “Mobile PoS systems [also provide] the ability to quickly update and print labels and produce receipts on-site using mobile linerless printers meets the increasing demand for pricing transparency and compliance with regulations such as the EU Omnibus Directive and Natasha’s Law.” Alan agrees that mobile PoS solutions are becoming increasingly important. “Mobile PoS has been around for a long time but at Cegid we’ve seen a real acceleration where retailers are actively talking about embracing a mobile-first strategy,” he says. “Stores are being built with this mobile functionality in mind so that every salesperson on the shop floor has access to a device that can serve the customer better in many ways. In fact, one of the luxury retailers we work with has nearly 200 devices in their store alone. “I think it’s a trend that’s only going to grow in popularity especially when you consider the
premium on retail floorspace. By leveraging composable architecture, you can easily give staff access to a digital product catalogue that is accessible through the mobile PoS to open up omnichannel selling opportunities. “But getting a mobile PoS right does mean thinking about the customer journey, staff adoption and store design. Neglecting to consider this could hurt implementation.” Harnessing data Retail and hospitality customers are also looking to harness the data provided by PoS systems to help give them greater insights into the buying habits of their customer base. “It’s an absolute imperative for customers,” says Alan. “The PoS solution is the technological face between you and the consumer and the transaction you’re creating. By leveraging that data, it can help you better forecast trends or even unlock new revenue streams. “Cegid ran an omnichannel trial with one of our customers in a handful of their stores where we implemented click-and-collect. Within a few days, it was apparent that this was a service that their customers wanted so they were able to expand it. The trial also highlighted a bigger opportunity to open up stock that was held in-store and not just the warehouse by offering click and reserve in-store. “By not looking at the data, retailers could miss huge opportunities to increase profitability. It’s also easier than ever before to harness intelligence quickly because the software tells you how much the stock is costing you and how much revenue could be unlocked by leveraging endless aisle.”
39% of retailers plan to stay competitive this year by providing more payment options, such as contactless payments and services like buy now-pay later.
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