The ability of consumers to drive business technology has been a fascinating development over the last decade. With the introduction of smartphones and emphasis being placed on mobility and near-instant gratifications, businesses must adapt or risk being left behind. But where do you start? How do you go about trying to keep pace with increasing consumer technology demands in a world where retail pos solutions evolve seemingly overnight?
It is important to develop an understanding of what the exact expectations are of the customers you do business with. With this knowledge in hand, you can better align your business requirements, their technology needs, and the available POS software solutions to design the perfect blend for your store. Designing this solution must be a combination of your observations, data, and the expertise of an experienced POS solutions provider.
Building a 24/7 Customer Experience is Increasingly Critical
One of the things that consumers are quickly coming to expect is for their retail shops of choice to always be available. For small bring-and-mortar shops, this can lead to a loss of customers to other, more easily accessible, outlets. You must be able to provide your customers with a way to interact with your business even after you lock the doors for the night.
Introducing omni-channel retail technology keeps your customers engaged with your brand, while providing you valuable points of data, such as the most viewed online items or the generation of sales leads via personal information given in an online form. And, when this is combined with modern approaches to payment acceptance, it will yield a higher rate of return than the traditional brick-and-mortar model currently offers.
The ability to project your brand voice into the world through the web or app-based channels will organically increase foot traffic in your store by both physical and virtual means.
Secure Payments While Minimizing Processing Costs
The modernization of your retail POS solution will bring about new, flexible payment acceptance options with an added emphasis on security. Your customers will appreciate the ability to use emerging payment technologies, such as tap cards or eWallets, and you’ll both love the added layers of security that come with these payment platforms. Acceptance of these payment types opens the doors to cost savings that can be passed down to your customers.
The emerging new payment types, when combined with an innovative POS solution, provide these cost savings through the reduction of payment processing fees. Not only will you find yourself paying less to process cards or digital payments, but items like e-receipts will quickly gain the notice of your customers. And, you can finally do away with those minimum purchase signs many of you still have posted at the register.
The Right POS is Also an Inventory Solution
The cutting-edge POS platforms will help in paying for themselves in another valuable area. Managing inventory, one of the most disliked and avoided retail tasks, can be simplified with the right solution in place. By connecting the transaction data to the data acquired from bar code scanners in the back room, you will easily know what you have and what needs to be included in the next order.
The advanced use of data will no longer be the sole dominion of your Big Box competition. Modern POS platforms combine the accuracy and importance of data with the security and ease of access to the cloud to present you with cutting-edge data management at your fingertips. Reporting can be accomplished from the convenience of a mobile app, giving you full insights and control over your inventory while staying a step ahead of customer expectations.
Stay Informed About Trending Retail POS Solutions
The nature of the modern retail world is that it is the consumer, not the stores that are driving the shopping experience through the use of technology. Staying on top of these changes, daunting as this is, can easily be accomplished by developing a strategic relationship with an expert in POS technology. A valued POS partner will help the small retailer fully utilize the next-gen nature of today’s retail POS solutions to compete against their larger competitors.
With the help of the wisdom offered by a POS partner, you will solve many of the mysteries around what technology you need in place. They will also aid you in determining the features and functionalities that will not serve your business, saving you implementation costs and effort.
When you partner with talech for your retail technology needs, we devote our time to identify your business challenges. We use this information to work with you in applying a solution to provide you with an innovative POS solution that levels the playing field. Reach out to us today to sign up for a demo and to learn more about how talech can be your valued POS partner.