Study Finds that More Personalized POS Provides More Profit

A recent study performed by Forrester Consulting explains that a retail store or restaurant’s future success ties directly into their usage of integrated POS systems.

In our technologically advanced marketplace, a POS system should extend beyond monetary transactions.

By updating the digital usage within a business’ physical location, businesses can achieve a number of benefits:

  •      Improved customer experience and interaction
  •      Employees that are better equipped and more prepared
  •      Enhanced flow of operations
  •      Access to increased data sources

Ability to Better Serve Customers

In a pool of 150 surveys:

  • 87% of the respondents declared that they are interested in tablet-based POS systems as a means of improving employee-customer interactions
  • 93% believe that it is essential to integrate a digital experience into physical locations.

As technology advances and provides better customer experiences, consumers and shoppers are becoming more demanding.

Today’s customers expect employees to have thorough knowledge about the business, including inventory and other options. The majority survey respondents also note that their digital presence has become a direct extension of their physical one. This leads to an increased desire to utilize digitized options within retail shopping and dining.

The following are some of the most common expectations that business owners and employees are being forced to try and meet:

  •      Ability to check store inventory, including that of other locations
  •      Ability to fulfill restaurant and shopping orders both tableside and in store aisles
  •      Rapid checkout procedures
  •      Increased customer security assurances
  •      Access to customer profile and purchase history
  •      Capacity to recommend items and selections

Making the Move to Advanced POS Systems

The vast majority of decision makers who were surveyed also recognized that advanced POS systems positioned them to better meet the needs of today’s customers.

Just as the customer is looking for improvements in their shopping experience, though, businesses face a number of concerns when making the switch to integrated POS systems.

  •      High costs
  •      System Reliability
  •      Customer education
  •      Ease of use

All things considered, our society is on the cusp of a major transitional movement.

Customers are more educated and hyper-aware of what is available, while businesses are working dutifully to meet their evolving needs. It will be interesting to see what the next few years will bring in terms of customer-employee interaction.