How Point Of Sale Technology Has Changed The Retail World

Do you own a small retail business? If you said

, "Yes!" to this question then chances are pretty good that you are employing some type of Point of Sale technology at your shop or warehouse. If you have more than one or two locations, you're certainly in need of a streamlined system and probably have devised a system that you believe is working for you.

The effect that POS has had on consumers is critical because retailers need customers to survive and profit. Through better inventory and order management, consumers have actually been the big winner since the inception of POS systems. By saving money on staff and loss, retailers have been able to offer better and often lower pricing than would have been possible without POS.

But even into the 21st Century, there are clearly many micro-sized businesses that may 'look' tech-savvy when taking a customer's order, but have no clue how to handle or use the critical data that the system is capable of providing. Most smaller businesses, especially those that are super micro-sized and rake in annual revenues less than two million dollars, usually aren't taking full advantage of the systems they've purchased.

In the worst case scenario, are those super-microsized business owners who went into POS without a clue as to how they would use the data they were capturing. Savvy businesses use data continuously for planning and promotional purposes, in addition to the basic inventory controls and ordering tools available with all POS systems. Overworked and understaffed micro concerns do not always create systems that work for them. Further, the smaller the business and the more closely held it is, less likely are the chances that the owner will reach out to anyone for help.

The barista at your favorite coffee shop may remember your name and what you like to drink if you visit the shop three or four times per week. But that large department store that you visit once a month might know you and your spending habits better simply because of the manner in which their POS system tracks your preferences. Better yet, through POS technology, the store no longer needs to rely on the mere memory of a sales clerk, because the system can provide the clerk with information about customers who have charge accounts at the store. The clerk may not remember, but the system will know that you prefer Chanel No. 5 perfume, not CoCo Toilette.

POS systems are so sophisticated that most restaurants couldn't even function without them. A waiter may still take your order, but when he leaves your table he goes right to the POS terminal, not the kitchen. Kitchen staff merely receive a printout of your order electronically and the system notifies your waiter when the order is ready for pick up. Most people have simply become accustomed to getting more and getting it quicker without ever realizing that POS technology is making that possible.

Clearly the most significant impact on the retail industry has been that Point of Sale technology has allowed retailers to provide a more personalized shopping experience for their customers. The effect of POS on the retail industry is evident in its ability to reduce costs, maintain inventory and provide accuracy in bookkeeping and ordering. But the overall effects are based on the fact that a retailer can service their customers better and faster and that's what keeps their customers coming back for more!

by: Yasha Aghayi

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