New technology trends and mobile devices are changing the expectations of customers constantly. In order to compete in the market, small and medium businesses (SMBs) need to set up the latest point of sale (POS) solutions that address these changing needs.
Technology #1: Mobile POS
Mobile POS systems are connected to smart devices like tablets and smartphones to scan the products and process payments for an easier and convenient checkout. Based on several experts’ opinions, this technology will become mainstream in the next few years.
The system also helps staff better interact with customers while improving the checkout experience. Stores with limited space can make use of this solution, as they will not need a dedicated cash register area.
They are more suitable for low-margin items than high-margin products as these products require proper bagging and de-tagging by store associates. If a retailer already has a checkout area in place, then it must be ensured that the mobile POS system is integrated with the main POS solution.
Technology #2: Loyalty Management Systems
This system enables retailers to interact with regular customers through a centralized system that rewards and tracks loyalty points, discounts, and gift vouchers. According to expert opinion, loyalty management systems will be widespread within the next few years.
These systems can be helpful in encouraging and rewarding customer loyalty through various methods. By tracking customer interactions on social media platforms and chat boxes, appropriate rewards such as cashback offers or special recognition can be provided to loyal customers.
Technology #3: Digital Wallets
Digital wallets securely store a person’s credentials, such as bank account details, identity cards, contact details, loyalty programs, and payment cards. Customers can pay for items at a retail store using digital wallets from their mobile devices.
The wallet stores multiple payment options available to the user, customers can also keep track of their loyalty program’s progress and benefits. The usage of digital wallets can significantly increase sales as customers are sure to appreciate the ease of transactions and the opportunity to receive customized offers.
Before making investments in such new technologies, we should determine the demand for them among customers. As the technology becomes more popular and more SMBs adopt these technologies, they should explain the advantages of using these systems to reluctant users and appropriate incentives should be offered to drive more customer use.
These technologies are already being used by your competitors, and customers will definitely rely on their ease of use and convenience. To stay competitive in the market, it’s essential to be aware of these trends and develop a plan to adopt them within the next two to five years.
Need to know more about POS solutions? Want to set up a POS system? x2x eCommerce is here to help you. Your issues can be resolved with stability, consistency, and affordability. Reach us at email@example.com or 888-929-3266 and grab your FREE 1 Hour demo today!