The efficiency, interactivity, and flexibility provided by mobile point-of-sale systems are making them an essential part of today’s shopping experience.

The Future Of Retail With Mobile Point Of Sale (POS)

The days of the checkout counter are numbered. More and more, innovations in mobile point-of-sale technology are transforming operations for both small businesses and big-box retailers. The efficiency, interactivity, and flexibility provided by mobile point-of-sale systems are making them an essential part of today’s shopping experience. While experts have varying predictions for the effects of this technology on the future of retail, it can’t be denied that change is happening rapidly.

Wharton professor Stephen Hoch outlines some of the reasons for the growing popularity of mobile point-of-sale systems: “In the long run, consumers want convenience and speed, and retailers want lower transaction costs, convenience, speed and fraud detection.” In a time when customer convenience is of the essence, mobile point-of-sale systems are increasingly preferred to EMV systems. According to electronic trading site Finance Magnates, “2015 marked the first time in history that mobile contactless payments were preferred to cash transactions, and it is predicted that by 2025, as many as 75% of all transactions will be made without cash.”

In a Retail Dive article, Boston Retail Partners principal Ken Morris proclaims mobile point-of-sale to be a must-have. “The customer requires it,” he maintains. Writing in Entrepreneur, Gordon Russell says, “Mobile point-of-sale systems allow retailers to re-imagine physical store layouts to maximize sales and increase the intimacy of customer interaction. No longer must there be a physical barrier between sales associates and their customers. No longer will customers be frustrated by sales associates that stand behind the counter and never greet or approach them.”

Mobile point-of-sale technology has come a long way since Apple stores first started employing iPod-based terminals in 2009. According to Business News Daily, the features and applications of the technology are advancing rapidly. These days, mobile point-of-sale systems do much more than simply accept payment. They allow retailers to track real-time sales, manage inventory, and integrate customer relationship management software.

Industry magazine PointofSale.com mentions next-generation point-of-sale system features such as software-integrated gift cards, mass marketing E-mails, and even suggestive selling prompts for cashiers. And the applications aren’t limited to sales associates and managers; customers can now use their own smartphones to compare products and share purchases on social media.

As for the future of mobile point-of-sale technology in retail, Morris forecasts an explosion in the use of shopping-related smartphone apps. He says that retailers can generate customer loyalty and intimacy by leveraging customer social networking. Consumer research firm TrendWatching foresees a greater adoption of “Point & Know” applications, which facilitate a “totally shoppable physical environment.” With these features, customers can simply point their devices at a product to download purchase options.

In TrendWatching’s view, more retailers will aim for an increasingly targeted, personalized customer experience. According to the site’s newsletter, there has been a huge growth in mobile Google searches for the phrases “for me” and “should I.” “The inevitable next step? Retail brands that go beyond simply knowing the consumer, and start reaching out and serving them in the physical context they happen to be in at that moment.”

While the future of retailing is difficult to predict, one thing is certain: it is sure to incorporate mobile point-of-sale technology.

If you’re looking for a bespoke retail solution please get in contact with the team at ECR for a tailored demo. If you’re interested in what retail point of sale systems have to offer, look into Leisure Pos, the very best in tailor-made technology, from health clubs to retirement villages.

More Blogs
How Airlines Can Grow By Effective Cabin Crew Incentivisation

Cabin crew are the key contact point between the customer and the airline, managing the face-to-face interactions that can make or break a business’ reputation. But as the passenger begins to expect more from their journey, how can airlines help their staff meet these demands? Simon Pont, CEO of ECR Retail Systems, explains more in International Airport Review

5 Ways Your POS System Can Help To Improve Security And Efficiency

Today’s electronic point of sale (POS) systems can help businesses to enjoy better security, efficiency and customer service in new ways. The latest systems are far more than simply digital cash registers; they have advanced features that offer added and fundamental value to the business.

5 Ways To Increase Retail Sales Using Mobile POS Technology

Mobile POS systems offer several key benefits to businesses who want to increase their sales and are particularly useful in the retail, leisure and hospitality, in-flight, restaurant and ticketing industries where the ability to move around to interact directly with the customer is a huge advantage.

ECR Retail Systems Launches the GoFree

ECR Retail Systems (ECR), the leading UK-based MPoS specialist, has developed and launched the GoFree, the first compact handheld terminal of its kind, designed specifically for the airline sector and with inbuilt Miura PED.  Incorporating the latest ECR AirPoS technology, the GoFree uses customer data to enhance the passenger and airline crew experience, and is designed to work as part of a full end-to-end airline system.

Time To Get Personal!

Time to get personal!
Is it time for Airports and Airlines to get personal?

Up Close And Personal

Take a look at our latest article, published in this month’s issue of Rail Professional as we look at how the rail industry can use business intelligence to drive customer service and growth

ECR Bolsters Airline Expertise with New Recruit

Having worked for the award-winning Emirates Airline as a Flight Attendant and travelling to more than 70 countries, Jade Baker shares her unique experience from her time as Cabin Crew...

 

ECR Retail Systems Launches the First All-In-One Contactless Mobile Point of Sale Device

ECR Retail Systems Launches the First All-In-One Contactless Mobile Point of Sale Device for the Airline Industry

The Benefits Of Cloud-Based PoS Systems

One of the biggest recent developments in PoS technology is the ability to now host your system on the cloud.
Here are some of the most compelling reasons to choose a cloud-based PoS system.

Five Important things to consider when purchasing a Point of Sale System

A point of sale (POS) system is essentially a software program that allows businesses to track the activity on cash registers, calculate when stock needs reordering, and analyse levels of inventory according to item. A POS system automatically records the details of each sale as it happens; meaning records are constantly kept up to date.

The Latest Trends In POS Technology That You Need To Know

As with all things rooted in technology, Point of Sale trends are continually changing and evolving as developments arise

How An Effective MPoS System Can Improve Customer Satisfaction

The maxim that the customer is always right applies to retailers, restaurants, travel services and other businesses, even as their traditional customer landscape continues to change drastically. The customer, wherever they are, expects less fuss at the checkout, no waiting for the bill, and no queueing for the only ticket machine at the station.