DC/PoS
Pointing the way Point of sale systems are no longer just about sales, it is increasingly about data capture, and using that data to help businesses to run more efficiently through inventory management and providing insights into things like sales trends to help maximise selling opportunities.
In retail, competition is fierce. In physical shops, retailers are not just competing against their rivals on the high street, but online too. Understandably, retailers are looking for any advantage they can glean to get ahead of the competition and ensure that customers keep spending with them. Increasingly, this is done through data. More data than ever is being produced by connected equipment and retailers are harnessing it to gain insights into sales trends and inventory. This is part of the reason why demand for point of sale (PoS) solutions are rising. As Taylor Smith from Honeywell Productivity Solutions and Services notes, demand for PoS solutions will continue to climb into the future, pointing to a prediction by Mordor Intelligence that the market will grow at a 12.8% CAGR in Europe between 2024 and 2029. “Customers want the speed and convenience of PoS technology to make their shopping experience frictionless,” he says. “In parallel, retailers are looking to use the technology to help control theft, including during self-checkouts. “Data capture [DC] at the point of sale will be imperative for retailers looking to the future. Harnessing the data and gleaning
customer insights from that data will help retailers further drive personalisation, improved customer experiences and more efficiency in store operations. “PoS technology can capture a variety of data, such as what products are more likely to be purchased at a certain time of day, where types of purchases occur throughout a store’s floorplan, customers’ typical basket size and how successful various promotions are in driving sales. This data can be a goldmine for retailers in making decisions about product placement, crafting seasonal campaigns and determining how best to deploy associate resources.”
Taylor Smith
honeywell.com
Data driven Phil Reynolds, EMEA channel account
manager at Zebra, agrees that the future of retail is becoming increasingly data driven. “And the role of PoS systems is evolving to match this trend,” he says. “PoS systems have traditionally been about sales transactions, but today it's about so much more. It's about data capture and leveraging that data to run businesses more efficiently, manage inventory effectively and provide insights into sales trends to maximise selling opportunities.”
PoS technology can capture a variety of data, such as what products “ are more likely to be purchased at a certain time of day, where types of purchases occur throughout a store’s floorplan, customers’ typical basket size and how successful various promotions are in driving sales.
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