Why should retailers invest in an mPOS?
In the retail industry, Point of Sales (POS) system plays a crucial role in the smooth operation of a business by managing transactions, tracking stock movement, analyzing sales, and the like. Mobile Point of Sales (mPOS) system is the new up-and-coming technology that every retail business must invest in. Along with brick and mortar outlets, e-commerce retailers can also use mPOS systems for completing customer transactions.
An mPOS solution is implemented on a portable wireless device, such as a smartphone or a tablet device, wherein the device acts as an electronic POS terminal for undertaking these transactions. Downloading an mPOS software, like Ginesys’ Zwing, and attaching a simple card reader converts the device into a typical cash register.
In spite of this, many Indian retail organizations fail to see the impact an mPOS system can have on the business. So, in this article, we are sharing three major benefits of implementing an mPOS.
1. Improving customer experience
Most customers do not like to wait in long queues for completing a transaction and making a purchase. These long queues, thus, hamper the customer experience. Implementing mPOS solutions allows retailers to enable self-checkout, eliminate long queues, and optimize the shopping experience.
Additionally, frontline employees carrying these mPOS devices can interact with customers and add a human touch to the entire shopping experience. This way, retailers build a valuable relationship with these customers and win their loyalty.
2. Gathering insights
While completing transactions using mPOS devices, frontline employees closely interact with customers. By striking a conversation, employees can easily gain more valuable and deep insights such as products most preferred by customers, factors that are enhancing or deteriorating their experience, and the like. These insights would, in turn, help retailers in making informed strategic decisions for the growth of their business.
3. Expanding areas of operation
Due to the mobility and ease of use of mPOS systems, retailers can also expand their scope of operations. For instance, retail businesses can go beyond brick and mortar outlets, and process customer transactions in events, tradeshows, and the like. Additionally, all the transaction data can be easily synced with data with the in-house POS systems.