4 Trending POS Technologies that Retailers Must Know
retailciooutlook

4 Trending POS Technologies that Retailers Must Know

By Retail CIO Outlook | Wednesday, November 27, 2019

The modernized POS technologies will be advantageous for the retailers as it will help them increase their sales and also provide better customer experience.

FREMONT, CA: In the retail industry, customer experience has become a significant brand differentiator. The fact that manipulates the experience of the retail customer is the procedure of completing the transaction because, in the traditional brick-and-mortar retail store, there normally is a long queue in the billing counters. Although a typical point of sale (POS) system permits the retailers to manage inventory, monitoring sales, and processing transactions, it does not serve the purpose of the escalating sales and enhanced business.

Due to a considerable shift in customer’s expectations, every company of the retail industry is focusing on enhancing the POS technologies and also the growth of their business.

Here are 4 retail POS tools that have always proved to be efficient in improving the customers’ experience, giving a boost to the business.

Big data analytics

By using technologies such as big data and machine learning, companies in the retail industry can better comprehend the behavior of the consumers, which will help them to make better-informed decisions regarding their business.  

Check This Out: Top Big Data Solution Companies

Mobile Point of Sale (mPOS) 

Portable wireless devices such as a smartphone or a tablet that operates as a cash register come under mPOS. The employees can easily do financial transactions with the assistance of mPOS devices, helping them to improve customer experience.

Customer Loyalty Program

Loyalty programs have also helped the retailers boost their customer retention, spread positive word-of-mouth, and increase brand advocacy. Under the loyalty programs, retailers present their customers with rewards like rebates, discounts, special offers, redeemable loyalty points, or even freebies. The awards encourage the customers to revisit the retail store and promote their brand in their social cycle.

Digital Wallets 

Customers use digital wallets to make an electronic transaction via online services. Today, the maximum of consumers like to go cashless and prefer digital transactions. Therefore, it has become essential for businesses to allow digital wallet transactions for payment.

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