Breaking free from the spell of "Amazon-azement"

MARK BUNNEY | June 26, 2019 | 118 views

At its core, technology drives disruption. Innovation wouldn't be possible without the subsequent waves of uncertainty and awe that come as a result. Retailers are experiencing this shock today, as Amazon continues to push the boundaries and limitations of how retailers can operate — both in-store and online. Cashier-less checkout is a fascinating concept, but those retailers who are experiencing "Amazon-azement" and feel pressured to compete directly should take a minute to think strategically.

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POS SOLUTIONS, CLOUD BASED POS

How POS Solutions Assist Restaurants to Increase their ROI?

Article | July 14, 2022

Introduction The hospitality industry has always been challenging and full of obstacles, such as low-profit margins, high competition, and turnover management, irrespective of the type of restaurant or level of owner experience. However, rapidly changing business dynamics and current conditions have increased these challenges enormously. Changing customer preferences, including high customer service expectations and an emphasis on the sourcing of ingredients and nutrition values, affect the entire operation. Also, the growing importance of reviews and word-of-mouth referrals makes brand management both more crucial and complex. Thus, several restaurant owners are increasingly investing in innovative solutions, such as restaurant POS systems, to improve the consumer experience, empower business owners to manage restaurant operations more efficiently, and increase ROI. Top 5 Ways How Restaurant POS Integration Can Boost ROI Due to the fast-paced nature of the restaurant sector, coupled with ever-changing customer needs, business owners encounter numerous challenges in keeping up with the changes and meeting customer expectations while maintaining perfect control over all aspects of their operations. As restaurant POS systems provide solutions for these challenges while also improving workplace efficiency, automating several tasks, monitoring employee performance, and enhancing security, these systems are gaining massive popularity in the hospitality industry. Out of all the new features that restaurants can get from POS integrations, such as delivery management, accounting, and more, these are the most important ones that help owners get the best return on their investment: Create Data-driven Campaigns Modern POS solutions enable restaurant owners to collect valuable data about their customers, such as their preferred food choices, their addresses, how often they visit the establishment, and others. These actionable insights can be used to create personalized campaigns, increasing their chances of responding to a customized offer and improving ROI. Support Omnichannel Communications and Payments With the advent of e-commerce, food can now be ordered and paid for via multiple channels, including the restaurant's website, third-party applications, the phone, and others. Therefore, it has become essential for restaurant owners to increase contact with their customers. Integrating a restaurant POS system enables owners to facilitate omnichannel communication and payments and discover the optimal way to communicate with consumers, thereby increasing food order flow from both offline and online channels. Improves Customer Relationship As the restaurant sector continues to become more competitive year by year, it is becoming crucial for restaurant owners to improve their relationships with customers. With restaurant POS systems, customers can make the payment using their preferred methods, such as cash, credit or debit card, QR code, UPI, and others. These systems also reduce the time for placing food orders as well as decline the chances of order misplacement. This results in providing better customer service, improving customer relationships, and increasing customer inflow. Streamline Restaurant Operations From front-of-house to back-of-house operations, modern POS technology assists restaurant owners in streamlining various business operations such as inventory control, labor management, payment getaways, and order tracking and delivery, among others. Thereby reducing the overall cost, declining the chances of errors, and improving profit margins. Final Thought Today, POS technology is clearly a necessity for the hospitality industry, irrespective of the type of establishment, such as fine dining, fast food, cloud kitchen, hotels, and others, to enhance restaurant operations, provide a smoother customer experience, and improve ROI. With the introduction of customizable POS solutions and a growing shift towards cashless payments, modern restaurant POS systems are anticipated to transform the ways of food ordering and payment in the forthcoming years.

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RESTAURANT POS

Top 5 Reasons Why Modern Restaurant Needs Integrated POS Solutions

Article | September 22, 2022

Introduction Due to the dynamic nature of the industry and the ever-evolving demands of its customers, restaurant business owners are facing a unique set of challenges. This is compelling them to streamline their operations to meet customers' rising expectations while maintaining perfect control over all aspects of their establishment. In addition, emerging innovative technology solutions are rapidly changing the world of payment systems, and the restaurant industry is the best example of it. Today, opening a restaurant is more than just serving food and making money. It is about providing a memorable experience to the customers and retaining them. As a robust restaurant point-of-sale (POS) solution assist in delivering a better customer experience, pacing up the ordering process, and managing inventory, among others, it is gaining huge popularity in the sector. Why Does Restaurant Need to Invest in Modern POS Systems Today? As the trends of online food ordering at dine-in and competition in the hospitality industry continue to deepen, it is becoming imperative for restaurant owners to efficiently manage the point of sale for their eatery. Also, the growing need for faster customer food service, efficient employee scheduling, and effective inventory management is encouraging business owners to adopt innovative restaurant technologies, such as restaurant POS systems. Here are some of the main reasons restaurants should integrate modern POS solutions. Effective Ordering Processes The ordering process, being the nerve center for restaurants, is one such aspect that needs serious attention. As food ordering processes that take a long time can significantly hamper the customer experience and satisfaction, owners of food establishments are aiming at leveraging novel restaurant POS systems to streamline and ease the food ordering processes. Increase Cash Flow Optimum cash flow is the backbone of any business. If restaurants are unable to maintain enough cash flow, they will have difficulties staying in business in the long run. Since restaurants are able to serve more customers per hour with fast-paced POS technology, allowing for greater sales and increased cash flow, business owners are aiming to deploy these modern POS solutions. Organize and Track Profit and Loss Keeping an accurate track of the income and expenses is of great importance for understanding the financial position of the eatery and creating an effective strategy to increase its revenue. A POS system can assist business owners in preparing a settlement at the end of each day, week, and month, keeping track of the ROI, and organizing profit and loss. Offer Security to Customers Customers or guests are increasingly using various cashless modes for transactions, such as credit cards, online banking, and others, for making payments. With increasing instances of customer data theft, guests are increasingly concerned about their data privacy and payment credentials. Hence, several food establishments are emphasizing embracing restaurant POS software to offer enhanced security to customers. Build Customer Database In today's highly competitive world, engaging and retaining customers is crucial for the success of businesses, especially in the restaurant industry. As the latest POS solutions aid restaurants in enhancing customer communications and loyalty, along with improving customer relationship management by building a customer database, these solutions are increasingly being sought in the sector. The Ending Thought With the emergence of innovative trends in the hospitality industry and the ever-changing needs of customers, it is becoming difficult for restaurant owners to keep the customers happy and build credibility in the long run. Since modern restaurant POS systems with advanced integrated technologies, such as artificial intelligence, can assist these restaurants in overcoming these obstacles along with providing numerous advantages, including cost reduction and increased ROI, these systems are anticipated to become a necessity for restaurants in the coming years.

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POS SOLUTIONS, POS HARDWARE

Retail ,Wholesale Trade,Ecommerce,Retail,E-commerce,point of sale.

Article | August 18, 2022

Last July, a small group representing the giants of the tech industry gathered in the seat of US government, Washington DC. They probably didn’t want to be there. Congress had summoned their employers Apple, Facebook, Google, and Amazon to answer questions about the command they hold over the markets they operate in. On Amazon’s behalf, associate general counsel Nate Sutton spoke in defense of his employer’s role in US retail. Throughout, he argued that Amazon isn’t so powerful as to be able to control prices and stifle competition. Amazon, he pointed out, makes up less than 1% of retail globally. In the US, it accounts for around 4% of retail. In fact, Walmart is much larger than Amazon, he said. In terms of sales, Sutton is right. Walmart reported $510 billion in total sales across its US and international segments in the 2019 fiscal year, versus Amazon’s $233 billion in roughly the same period.

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How SMEs can emulate the success of Amazon through ecommerce personalization

Article | February 10, 2020

Whatever your feelings are towards Amazon, there is no denying that they have revolutionised ecommerce and now set the bar for the personalised experience of users when it comes to online shopping. So much so that it was recently reported that they have more than a 30% share of the UK’s ecommerce market. With statistics like this, it may feel like it is impossible to compete, especially as Amazon has huge tech and marketing budgets at its disposal. However, all is not lost. It is possible for SMEs to learn from the forerunner and implement some of their most successful techniques, with regards to their use of ecommerce personalisation and AI, to increase sales cost effectively.

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Spotlight

Value Retail

We are passionate about our product, which is the fashion experience we deliver. Each Village is home to a distinctive curation of international fashion and lifestyle brands, together with celebrated European designers unique to the individual fashion pedigree of their respective regions.

Related News

Delivering Regional Flavor With State-Specific Subscriptions

pymnts | June 24, 2019

To offer shoppers a curated selection of local products ranging from décor to local flavors, eCommerce innovators are assembling subscription boxes around different U.S. states. California Found, for instance, is essentially a boutique gift box of artisanal goods from the Golden State. In lieu of a big-box store or Amazon, the box aims to provide shoppers with opportunities to purchase gifts for friends or loved ones through a different channel, with a differentiated experience. “This is like going to a small boutique with unique items” they will not find elsewhere, Founder and Owner Beth McClure told PYMNTS in an interview.

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Betting on a Prime Day outage, eBay announces 'Crash Sale'

retaildive | June 26, 2019

EBay on Wednesday announced a "Crash Sale" on July 15 that includes brand deals and free shipping, according to a press release emailed to Retail Dive. If Amazon's website crashes on Prime Day which on Tuesday was announced would begin on July 15 eBay stated it will introduce more deals during its Crash Sale.EBay is running a series of sales during the month of July that includes "July 4th Savings" from July 1-7 with savings on items like stand mixers, robotic vacuums; the "Hot Deals for Hot Days" from July 8-22, which includes daily deals on tech, appliances and smart home devices; and the aforementioned "Crash Sale" on July 15, which offers discounts of more than 50% off select brands.

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Who benefits from an Apple, Best Buy partnership?

retaildive | June 26, 2019

In a bid to make its services more widely accessible, Apple announced last week that Best Buy is now an authorized repair partner.In addition to the retailer's roughly 1,000 stores providing repair services, the company announced that nearly 7,600 of Best Buy's "Geek Squad" members will also serve as Apple-certified technicians who are "ready to make same-day iPhone repairs or to service other Apple products," according to a press release. Apple also noted that it will back all repairs and that only genuine Apple-branded parts will be used for the services. Best Buy customers already rely on the knowledge and support of its employees, most notably from its Geek Squad base, so becoming an authorized Apple repair location will likely resonate well with consumers."We love being there for our customers no matter what their Apple need is, from helping them choose the right device, to offering AppleCare protection and now helping fix their devices," Trish Walker, Best Buy's president of services, said in a statement.

Read More

Delivering Regional Flavor With State-Specific Subscriptions

pymnts | June 24, 2019

To offer shoppers a curated selection of local products ranging from décor to local flavors, eCommerce innovators are assembling subscription boxes around different U.S. states. California Found, for instance, is essentially a boutique gift box of artisanal goods from the Golden State. In lieu of a big-box store or Amazon, the box aims to provide shoppers with opportunities to purchase gifts for friends or loved ones through a different channel, with a differentiated experience. “This is like going to a small boutique with unique items” they will not find elsewhere, Founder and Owner Beth McClure told PYMNTS in an interview.

Read More

Betting on a Prime Day outage, eBay announces 'Crash Sale'

retaildive | June 26, 2019

EBay on Wednesday announced a "Crash Sale" on July 15 that includes brand deals and free shipping, according to a press release emailed to Retail Dive. If Amazon's website crashes on Prime Day which on Tuesday was announced would begin on July 15 eBay stated it will introduce more deals during its Crash Sale.EBay is running a series of sales during the month of July that includes "July 4th Savings" from July 1-7 with savings on items like stand mixers, robotic vacuums; the "Hot Deals for Hot Days" from July 8-22, which includes daily deals on tech, appliances and smart home devices; and the aforementioned "Crash Sale" on July 15, which offers discounts of more than 50% off select brands.

Read More

Who benefits from an Apple, Best Buy partnership?

retaildive | June 26, 2019

In a bid to make its services more widely accessible, Apple announced last week that Best Buy is now an authorized repair partner.In addition to the retailer's roughly 1,000 stores providing repair services, the company announced that nearly 7,600 of Best Buy's "Geek Squad" members will also serve as Apple-certified technicians who are "ready to make same-day iPhone repairs or to service other Apple products," according to a press release. Apple also noted that it will back all repairs and that only genuine Apple-branded parts will be used for the services. Best Buy customers already rely on the knowledge and support of its employees, most notably from its Geek Squad base, so becoming an authorized Apple repair location will likely resonate well with consumers."We love being there for our customers no matter what their Apple need is, from helping them choose the right device, to offering AppleCare protection and now helping fix their devices," Trish Walker, Best Buy's president of services, said in a statement.

Read More

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