Amazon Might Actually Be Good for the American Retail Industry (HBO)

POS Solutions

Article | February 14, 2024

Until recently, most brick-and-mortar retail stores relied on local platforms to save their point-of-sale (POS) data, such as transaction records and product price lists. These include a variety of solutions, ranging from larger network servers to on-premises PCs or servers used by service providers. However, a large number of retailers are shifting their business operations to online platforms, with cloud POS emerging as a trailblazer in the transition. Retailers are heavily investing in the development of digital payments, contactless, and cashless transactions and have begun to implement innovative point of sale (POS) solutions to improve their bottom lines in the long run. Cloud POS Providers Responding to Transition Over the years, POS platforms, especially cloud-based POS, have evolved into robust platforms capable of integrating a wide range of retail operations, including data analytics, accounting, inventory, accounting, and marketing. This evolution of POS platforms from traditional to cloud-based has manifested itself in a variety of ways, ranging from increased inventory management efficiency to improved user experience, data security, disaster management, and increased profitability, positioning themselves solutions as an imperative retail tool, today. On account of the rising awareness regarding the merits of integrating cloud technology, approximately 52 percent of corporate firms have fully migrated to cloud POS solutions, with more than 40 percent planning to follow the same, as per a study. Citing the trend, cloud POS solutions are anticipated to exceed $9 billion by the end of 2026. Leading industry players are riposting to this transition in earnest by launching innovative products designed to address the need for advanced POS solutions across the retail sector. For instance, in 2022, Visa unveiled a new cloud-based payment platform, Visa Acceptance Cloud (VAC), which can transform almost every device into a cloud-connected payment terminal. The Future’s Story In this digital disruption era, enterprises are gearing up to invest in innovative technologies and enter the new software market. One of these is the cloud-based POS system, which has permitted retail stores to manage customer data and handle sales and inventory digitally. POS software has clearly benefited all business domains, but it has completely transformed the retail sector's facet, making it more progressive, tech-savvy, and customer-oriented.

POS Solutions, Ecommerce Merchandising

Article | June 7, 2024

The coronavirus epidemic has so ravaged travel, live entertainment and physical retail that companies across those industries have frozen their marketing, causing ad prices to plunge. Meanwhile, online beauty brand Insert Name Here is generating so much business that it’s snapping up ad space at a discount. Based in Los Angeles, Insert Name Here sells hair extensions and wigs, which are in high demand now that women are unable to visit their hairstylists. To reach all those consumers who are stuck at home, Insert Name Here is working with social media influencers to create do-it-yourself styling videos for Instagram as well as Facebook, Tik Tok, Snapchat and YouTube.

Ecommerce Merchandising

Article | March 18, 2024

A significant transformation has been witnessed across the point of sale (POS) industry over the past few decades. Businesses around the world have updated their payment solutions from stationary credit card readers and conventional cash registers to advanced cloud-based POS systems. In addition, advancements in technology not only provide businesses with additional features but also assist them in keeping track of all transactions and reports in one place. Deepening Inroads Across the POS Sector with Cloud and mPOS Technologies Growing use of mobile devices has reduced the gap between the digital and physical worlds, allowing businesses to take advantage of their digital resources and integrate them into their actual locations. With the advent of cloud-based software and rising demand for highly convenient and secure payment solutions, mPOS devices are gaining huge popularity across e-commerce, hospitality, retail, and other sectors. It is extensively being adopted by service providers to automate the sales process and enable customers to shop online and pay for products ranging from restaurant meals to luxury items and even cars. Citing this trend, the number of mPOS users is estimated to reach 85.6 million across the U.S. by the end of 2025. The average mobile transaction value is forecast to rise from around $7,000, as reported in 2020, to $11,755 by 2025, as per a study by Statista. With 22% of current retail POS systems already on the cloud and 29% of businesses aiming to shift towards using cloud-based systems by 2024, demand for these advanced POS solutions is estimated to exhibit robust growth worldwide. In fact, it is anticipated that the cloud POS industry will total US$6 billion by 2025. Emphasis on New Product Launches to Transform the POS Industry To stay ahead of the competitors in the POS industry, more and more companies are investing in launching advanced technologies and solutions and aiming to forge partnerships with numerous payment channels. For instance, in 2022, Worldline, a French multinational payment and transactional services company, announced the introduction of a highly advanced LINUX-based 4G POS terminal. The POS system is integrated with a Dual-Core Cortex processor, LINURA LP 7220 with the highest security protocol, a resistive touch screen, and 256MB of RAM to provide an enhanced in-store digital payments experience in India. Similarly, well-known POS service providers are focusing on adding new features such as multiple payment options, loyalty programs, tracking employee productivity, and other things to help their clients improve their customers' experiences and gain a competitive edge. The Way Ahead The importance of having an effective POS solution is growing to assist businesses to manage money, staying organized, and maintaining customer relations. With increasing research & development activities and the introduction of novel POS solutions such as Buy Now Pay Later (BNPL), the industry will continue to experience transformation over the forthcoming years.

Article | April 16, 2020

A retail POS system is a system that includes customer display, barcode scanner, receipt printer, cash drawer, monitor, computer, and debit/credit card reader. POS systems offer the functionalities of CRM to interact with the customers or integration with an existing CRM system, sending of email & text messages, loyalty reward program, updating contact records, and functions for setting an appointment.