Modern retail technology is changing the playing field for all retailers, benefitting both large brands and smaller, independent businesses. The latest retail POS can now act as a conduit for all aspects of a retailer’s business, from finance and sales to logistics and social media marketing.
At Eurostop we’ve spotted five trends in retail EPOS systems for 2020 that will open up the retail market for all players:
1. Going Mobile
Mobile tech covers a wide range of products and can help retailers in a number of ways. It can be used in retail POS with benefits including improved customer service, the ability to show more product inventory and improved efficiency of customer teams. With a mobile POS your staff are freed to deal with customer queries away from the tillpoint – and can even use it for queue busting at busy times.
Mobile pay is also becoming a widespread mode of payment expected by today’s consumer, which means retailers now need to accommodate mobile payment processing and accept contactless payments, such as Apple Pay.
New shopping apps available on mobile devices can also transform your customer experience. Eurostop’s MyShoppr® has been developed to merge the mobile shopping trend with the physical brand experience in your brick and mortar stores. It offers your customers a digital, on demand service and empowers your retail staff to offer true customer convenience using a seamless omnichannel experience.
2. Experiential shopping is the latest way to draw customers into your store.
From in-store demonstrations, to themed days with advice and product techniques, workshops or film shows, to ‘influencer’ visits, these all help to keep customers coming back rather than just shopping online.
The experience gives customers an added reason for shopping in store and builds a relationship with your brand. Plus, encouraging customers to share their likes and experiences on social media is a great way to get your customers to be your best brand ambassadors.
3. Business insights – using customer data more efficiently and effectively across all areas of the business allows you to effectively segment marketing and coordinate sales and promotions, based on customer interests and shopping habits. Plus, with your retail POS connected to your stock control system, you can also drill down into your sales data to identify best sellers and less popular lines, helping with restocking and avoiding surplus or wastage.
4. Personalisation – customers today demand a consistent experience across the store and every sales channel. There is also an expectation for a more personalised experience, which means that your data on customers’ shopping behaviours can help you to engage with them with loyalty programmes.
A hyper-personalised marketing approach can help to create a new persona for your brand to approach new customers while maintaining and increasing repeat sales.
5. Customer Loyalty programmes also give you great opportunities to increase your sales by upselling and cross selling. Instant gratification plays a huge role in customer acquisition and retention. If you can sign up a customer and be able to communicate with them quickly (and with relevant offers) you are more likely to earn their loyalty. With accurate customer data, you can create seasonal promotions, early bird and multi-buy discounts and preview events to attract customers instore.
Why wait?
There’s no doubt that heading into 2020, having a smart retail POS and EPOS system system will become essential for businesses to offer customers a seamless experience. As the technology continues to evolve, retail POS systems are becoming more efficient, secure and affordable for all retailers to improve their business operations.
Do you want to take advantage of the latest retail POS and EPOS system trends?
To find out more, contact Eurostop on +44 (0)20 8991 2700, at [email protected], or request a call back
