Point of sale (POS) might not be the most glamorous part of running a retail store, but it’s something that can have a huge impact on revenue.
With the Australian retail industry currently going fairly well (turnover rose 2.3 per cent between January 2017 and 2018, the Australian Bureau of Statistics reports), it’s essential businesses in the space are doing all they can to continue their growth.
This is especially the case now Amazon has arrived on our shores. Australian retailers need to find a way to keep up, and a customer’s experience at POS might just be the clincher in whether they return to your store.
What should retailers consider when choosing their point of sale system?
1) Working environment
The first thing to do is consider what sort of business you run and the type of working environment the POS system will have to operate in. For example, if you’re a food retailer, you will want very durable POS technology that can withstand spills and other damage.
Looking inwardly will also help you to decide what sort of POS features you require. If you are more of a discount or low cost retailer, you may want to have a POS system where it’s easy to input coupons or other mark downs, whereas luxury clothes sellers won’t be as interested in these types of features. Retailers that operate at lots of events and festivals, on the other hand, may wish to have a POS system that’s compatible with iPads or mobile devices.
The best POS systems for retailers will be scalable. Gaining more stores or moving into new countries is a huge step. You want your POS to be consistent across all your stores, and this means the system you choose needs to be able to grow with you.
Existing retailers who are looking to upgrade their POS technology also need to choose a system that can be retrofitted onto their current business.
POS technology works best when it’s integrated into your other systems. For example, if you have warehouse or inventory management systems, you can purchase POS technology that connects with these, so that stock levels are automatically updated and new orders made if lots of people are buying a particular product.
4) Data analysis
Even the smallest of businesses can now access data analysis tools that will enable them to find new growth opportunities. Many POS systems have the ability to collect a vast amount of data. They can even create customer profiles that detail someone’s browsing and buying histories, meaning you can create much more accurate target markets and find new groups to start selling to.
5) Security and networking
A solid, secure network is essential to the all-important POS system consistency, and it’s important the network you’re using is stable. Cameras, alarms and screen monitoring also all fall under the POS system umbrella, and will make sure your stores are as secure as possible.
Even the best POS systems can sometimes go wrong. It’s important that retailers have a managed service provider on-hand that can solve any difficulties any time, and can also help to ensure POS implementation is the best it can possibly be.
LOOKUP can provide that support. We’ve been setting up POS systems for years, tailoring solutions to ensure they expand as your business grows. We also provide managed support, so your operation runs smoothly no matter what happens.
Contact us today for more information.