POS Solutions, Ecommerce Merchandising
Article | June 7, 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.
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POS Solutions, POS Retail, Ecommerce Merchandising
Article | June 10, 2024
“Software-led payments is more than just ecommerce or online invoicing, as many software platforms are starting to offer solutions for card present transactions.”
- Caleb Avery, CEO of Tilled
The omnichannel retail marketplace has been witnessing a surge in recent years. A buyer has a natural tendency to check the details of the products or services on the internet. But a single purchase may involve different channels like apps, websites, store walk-ins, etc. For example, a customer may conduct online research and purchase an item before picking it up from a retail store; or, conversely, he may go to a nearby mall and inspect the product first before purchasing it online.
Therefore, retailing has become increasingly about providing multi-channel or cross-channel experiences to customers. If the merchant misses out on his goods being offered on any channel, it will harm the customer experience (CX).
In such a circumstance, deploying a POS system built for multi-site store networks that takes care of the maintenance of the website and all the locations in the chain simultaneously is a blessing for the retail sector. The point of sale is now an important part of an eCommerce plan for a business and a key part of its ongoing marketing strategy.
Drive Loyalty and Sales Using Your Omnichannel POS
A retailer's point of sale is the hub of every business action, wherein sales, marketing, inventory, customer management and customer service merge. But what many still don't realize is its powerful role in unlocking customer loyalty and higher revenue.
With a modern and adaptable point-of-sale system, lengthy transaction times are minimized and may be boosted while simultaneously processing more consumers, enhancing the customer experience.
Your omnichannel POS should permit the configuration of several payment methods. Customers can choose various payment methods, such as credit cards, digital wallets, PayPal, and cash.
POS data should be utilized in all company decisions in today's society. Additionally, POS data is essential for merchandise planning. For example, if a product is not selling quickly enough, sell-through and sales-by-margin analytics can influence your pricing decisions and allow you to adjust accordingly.
A common misconception about POS is that it is only a point of contact between your clients and your business. However, when its tremendous capabilities are utilized, it becomes a tool that helps you understand your clients, enhance their experience, and guarantee you are prepared to meet their demands.
Importance of Using POS and Ecommerce Integration
Combining CRM and POS software enables staff members to review and update client information instantly. You can develop new sales methods based on customers' interests and previous purchases. The omnichannel point of sale integrates with Tally, Quickbooks, etc. You may export order receipts from all channels directly.
With omnichannel POS, your firm is accessible to customers 24 hours a day. Customers can purchase at one store and receive delivery from another, as well as other choices designed to improve the shopping experience.
A retail eCommerce platform with seamless integration benefits both businesses and customers.
Bottom Line
Innovation in omnichannel retailing and investment in the POS system's digitization helps track and fulfill online, and offline customer needs. It goes without saying that the future of POS and retail are closely intertwined. In the coming years, POS will see a radical shift. Now is the optimal time for laggards to catch up or risk falling behind.
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POS Solutions, POS Retail
Article | January 12, 2024
Point of sale (POS) software is a critical corporate tool that has been well-known as an upgraded alternative to the traditional cash register. This system provides your business with management capabilities like loyalty programs and an improved shopping experience. According to a report carried out by Grand View Research, the worldwide POS terminals market is projected to attain nearly $126 billion by 2027. Here is a point of sale trend list that you will benefit from.
You should adopt this point of sale trend. More and more firms are using POS software that allows for quicker checkout time. People tend to have more than a location they wish to drop by. When they visit your store and buy something, they desire to spend as little time as they can, particularly when doing a checkout.
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POS Solutions
Article | October 13, 2021
You have to be living in a cave if you haven’t experienced e-commerce already!
No, we aren’t really bluffing when we say this. With a business model that is growing steadily at 23% year-over-year, aren’t e-commerce markets the place to be?
Further, to add on, 2020 has been a year like no other in recent history. The events of the coronavirus pandemic that marked its spread on a global scale, worked wonders in bringing us closer to e-commerce than we ever were.
The e-commerce industry was the backbone of humanity amidst the time of pandemic and uncertain lockdowns across different countries around the globe.
Considering the fact that e-commerce has been suited to the trend amidst the pandemic, let’s have a look at how the world’s largest democratic, India, which is also one of the hot spots for e-commerce giants, has kept up with its buying and selling during 2020.
Let’s get started!
The total “your order is placed successfully” notification so far:
Beginning its spree of three months, lockdown in the country was enforced in the last week of March. Being the innovators of ‘jugaad’(alternative way of solving or fixing a problem), Indian’s were prepared for the event, giving the e-commerce sites, a taste of dip with 2.40% on the overall orders placed (Yes, we should also consider the events of lockdown on courier facilities). However, this wasn’t it as the highest dip was about to come in April 2020, giving a 10% blow to the e-commerce industry.
While these were the lower points, the e-commerce industry has experienced a boom in orders placed after April, marking the highest for the year with July.
However, we are not done with the sales yet!
Wonder which particular segment was the king of sales amidst the entire pandemic drama?
Guess…
Seems like we Indians love our gadgets really well, yes, it was the electronics!
With ‘unlock 1.0’ in action, we had our carts prepared for checking out, the e-commerce industry in India witnessed a growth of 162%. However, this was just a mere aid to the losses as June faced a setback again!
Interestingly, September marked a change in the charts, making the highest number of orders placed in e-commerce platforms, marking a 43% spike in electronic sales.
How Indians sold in 2020!
2020 has been a year like no other (in both senses of the word). The extended lockdowns and social distancing helped our local kiranas (General Store) to share the platform beside some large enterprises, allowing businesses of all forms to adapt to hyper-local e-commerce.
Conclusion
Ecommerce has earned its rightful place as the most preferred shopping mode for us Indians. Thankfully, the markets have picked up with their pace, post the events of Unlock 1.0.
For any business, one of the best news that they can conclude the year with is the fact that consumers are no longer using digital platforms for their daily needs. Online platforms have earned their rightful place, making it the perfect time to depend on e-commerce business. Lastly, have also secured the 9th position in global growth.
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