If retailers and entrepreneurs want to meet the demands of customers, while at the same time optimizing profit opportunities, they need a next-generation point of sale (POS) or mobile point of sale (mPOS) solution that includes purchasing and returning functionality that enables them to offer consumers a seamless brand experience.
More growth with POS and mPOS
A recent American survey shows that retailers who successfully pay with the mobile in the store are expected to expect sales growth of more than 146% in 2018. From the research of Stratix, the manager of Managed Mobile Services in collaboration with the IHL Group, it turned out that success is tied to retailers who support the customer experience and have a trusted partner when it comes to efforts to deploy mPOS. It also emerged that retailers using a mobile POS successfully achieved an average turnover increase of 24% in 2017 compared to retailers who did not. In addition, retailers who had previously experienced flat or declining growth saw that the turnover for 2017 rose by 100% after deploying mobile POS in the store.
Traditional cash registers disappear
The technology had already replaced many tools such as cards and cameras, but now it’s the turn of traditional cash registers. The retail trade is shifting to an evolving world of customers using mobile POS (mPOS) solutions and technology to improve overall store experience. Thanks to the mPOS integration, retailers can offer their products both online and offline, including accounting and inventory, and it is a tool to increase customer engagement. This allows employees to focus on the customer and offer more personal service.
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Mobiles sales offers a number of advantages to improve efficiency. It can also deliver improvements in areas such as scale, data collection and the ability to sell anywhere. Because of the simplicity of cloud-based mPOS systems, companies can quickly and easily add more mobile devices to their arsenal or set up a new store without a headache. In addition, despite their small packaging, mPOS devices can store many valuable data points when it comes to real-time reporting on the status of inventory, replenishment and availability of the product. All data is available via the cloud and those who have access can consult reporting and business results everywhere.
Evolution of the POS system
The POS system has experienced rapid growth in recent years. But how did it all start? An overview:
- In 1883 James Petty patented the first draft of the cash register. The first mechanical cash register was called the “Incorruptable Cashier”. His invention came with that familiar bell sound, which is referred to in advertising.
- In 1906, Charles F. Kettering designed the first electric cash register. While working at the Cash Register Company, he designed a cash register with an electric motor.
- In 1970 the barcode was first used in 1966, but it soon became clear that there had to be a kind of industry standard. The first company to produce barcode equipment for retail use was Monarch Marking in 1970.
- In the period 1980 – 1990 the first development of a color graphical user interface and touch-screen-POS took place, with an Atari 520ST.
- Today, 93% of the total retail activities in the US are performed with a POS or mPOS cash register. In 2012 there were 3.98 trillion POS or mPOS transactions in America and in 2018 that number will increase to 4.2 trillion.
More than just a POS system
From a traditional point of view, a cash register system is only intended to accept payments. But nowadays a cash register can do much more than that. Retailers and catering businesses can use point-of-sale (POS) cash registers as business management tools. A POS cash register system can provide you with data to make better business decisions, improve the customer experience, help automate tasks and optimize daily processes.
Will you soon open your first branch? Do you want to make a switch to another tool? Then choose the right party, a partner that grows with your company. The Revel iPad POS system has unique functions. Thanks to direct synchronization with the cloud and unbound mobility, this ipad POS system help to raise customer satisfaction to a higher level.
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