Point-of-Sales Systems in Retail: Technologies and Usage Cases - Gaining customer insight while improving the in-store experience

Point-of-Sales Systems in Retail: Technologies and Usage Cases - Gaining customer insight while improving the in-store experience

Summary

Retailers increasingly face challenges from various angles such as eroding product margins, heightened competition from pure eTailers and the constant pressure to innovate. They need to offer their increasingly demanding customer base a better experience that is worth visiting a store for, instead of ordering from the convenience of one’s home. Traditional retail organizations need to embrace digital transformation by integrating and upgrading their systems, as well as by introducing a Big Data and IoT strategy that focuses on generating value and differentiation through analytics.

Major retailers are looking at possibilities for collecting a wealth of data in their stores and warehouses in order to reduce operating costs by improving efficiency, and for bringing the customer experience that eCommerce platforms offer to their traditional bricks-and-mortar outlets. In order to achieve this, various ‘things’ are needed that capture data and communicate with each other, customers, staff members, existing IT systems and databases. Devices that create an Internet of Things (IoT) infrastructure include various sensors, cameras and other tracking technologies such as radio-frequency identification (RFID) that can collect information about their environment including traffic flows, product quality, asset whereabouts and customer behavior.

IoT devices can also be used to enhance customers’ experience in stores through interactive terminals that react to movement, tools for creating a virtual or augmented reality experience, and also robots that can be deployed as smart sales assistants. In-store marketing can be better tailored to customers by displaying targeted messages on digital signage screens or mobile devices when sensors and cameras can detect customers’ gender, approximate age, group size or facial expressions.

The report Point-of-Sales Systems in Retail: Technologies and Usage Cases discusses various PoS technologies and concepts including retailer case studies, and points out the challenges and opportunities for retailers as well as for PoS solutions vendors. Moreover, this report provides opportunities to enhance customer experience in stores and on digital platforms by giving advice for retailers on how to choose the right system. Further, advice for IT vendors is provided regarding targeting retailers.

Companies mentioned in this report: NCR, Amazon, Oracle, Google, Epos Now, iZettle, Ingenico, Lightspeed, Zebra, Toshiba, VEND, Verifone, Beauty Base, California Fresh Market, Redner's Markets, WH Smith.

Scope

• While simple self-checkout systems can already be found in most stores, the trend goes towards digitally enhanced, automated and mobile point-of-sales (mPoS) systems
• Retailers also have to ensure that their PoS systems are reliable without any downtimes, and protect themselves from any cyber attacks by
• The rise of IoT and artificial intelligence affects retailers' business operations and is likely to gain momentum within the PoS area as well, especially regarding mobile payments

Reasons to buy

• Gain insight into retailers' point-of-sales (PoS) and checkout related priorities. This reports helps you to pitch PoS solutions to retailers and understand how PoS is linked to analytics and business systems, as well as the role that the PoS plays in innovative retail concepts.