I like to keep up to date with the latest tech developments - and being in Australia, that means I'm a diehard online shopper. I'm old school, so I like to know the difference between all the models and how the different brands compare. (I'm not quite as fussy about how they look, but the missus is, so sometimes I get here to write an article from her point of view too!) I also like to know how to fix items and how to get the parts to do repairs. This site has all of my research and comparisons between models and ideas on how to find those hard to source items.
There is a move away from big retail and toward small "mom and pop" shop owners with a local touch. As this trend unfolds, the small retailer needs to keep up with technology, in order to grow their business in line with demand. For this reason they really need to adopt the latest in point of sale technology. How can this help?
What's Changed with Point-Of-Sale Systems?
POS systems are a lot more user-friendly these days. They are now much more likely to have "all in one" touchscreens, which are also easier for the small retailer to maintain. The inbuilt LCD screens can be configured to display special offers, or store information for that last-minute purchase trigger, or "match" a particular item that the shopper has just purchased.
Gathering Intelligence from Your Point of Sale Equipment
They are much smarter, too. Today, you can use a combination of specialised apps and "bolt on" services to make your point of sale system a virtual treasure trove of information. For example, you can collect and analyse data that shows traffic patterns, analysed by hour, day or week. You can look at any variations in conversion rates according to particular hours of the day, and figure out whether you need to put any specific promotions in place. You can calculate which products are in high demand and compare this report to the profiles of the customers actually buying the product. From this information you can determine why the product is selling so well, and how you can extend its marketing in order to sell even more.
Being Proactive to Keep the Business
Small retail business owners should talk with their point-of-sale equipment suppliers in order to tailor-make their products precisely for their own needs. They may not need all the functionality of a larger store. As an example, the small business owner who values personal interaction during checkout may not be interested in a technology that allows the customer to scan as they shop, quickly pay and run out of the door.
Nevertheless, it is important to be proactive, no matter how "small" the small business is. Customers are expecting a lot more when they visit a "bricks and mortar store," given the fact that they can get a lot of convenience and a certain amount of personalisation just by shopping online. If the local retailer can provide personalisation levels that were previously unheard of with creative use of a POS, then they are likely to retain the walk-in shopper for the long-term.
Share27 March 2015
