The Top 5 Retail POS System Advantages for Retailers & Consumers
These days, if you’re a retailer, implementing a reliable retail POS system is a must. Not only will it facilitate your retail processes, but it will also make the purchase journey much easier for customers, improving the in store experience and brand loyalty. As one of today’s leading retail EPOS systems providers, the team from Eurostop wanted to highlight some of the benefits.
All Watches enhance customer experience by adopting Eurostop POS and Loyalty Systems
Cloud-based solution provides cost-savings as an alternative for SMEs to eliminate the high cost of physical servers Dashboard monitoring provides remote performance monitoring and tracking, on demand and in real-time Improved CRM enhances customer experience both online and in-store “Eurostop has a very capable and responsive team that is able to drive the project implementation with go live extremely quickly” Darren Ng, Managing Director The Challenge With decades of watch retailing experience, All Watches provide the best retail experience to their customers by focusing on the quality of their products. Being an exclusive distributor of luxurious and branded watches, they strive to deliver exceptional service and products. Through their retail experience and ongoing years of success, All Watches has grown into five retail stores across the country, including one store across the border, in Kuala Lumpur, Malaysia. Due to this business expansion, they have frequent stock movements between the stores; i.e. from warehouse-to-store, store-to-store transfers, and vice-versa. The strenuous manual processes within operations had escalated, leading to balance discrepancies of stock-on-hand and at stock-take audits. Concurrently, customer details were also being recorded and stored manually in a logbook to allow the staff to keep track of past purchases and records. With these manual processes in place, there were understandably issues with data accuracy and also complications within the stores’ daily operations. The Solution The All Watches team was aware of the functionality shortfall with their existing POS system and how it was affecting the smooth running of their retail stores, and were therefore looking for a replacement system. After a couple of meetings and a product demonstration session with Darren Ng, the Managing Director, Darren was convinced that Eurostop’s POS system would be the ideal solution to address their business problem. The solution would ensure that the inventory, stock movements, and transfers would automatically update in the system and provide real-time information. Eurostop’s team also showcased their Loyalty system which tracks customer records and purchase history. Customer data, including member registration details, purchase history, deposits, loyalty points, rewards and other personal information are also automatically updated in the system upon successful registration. The All Watches team was impressed with the overall product demonstration and the benefits that the retail systems would bring to their business. The team also concluded that the Eurostop POS system came with a comprehensive list of features as standard, and yet could be customised according to their specific needs. The team’s capabilities and resourcefulness were the key factors that made them the chosen supplier. The Result The rollout was quick and efficient, with Darren Ng, Managing Director, commenting “Eurostop has a very capable and responsive team that is able to drive the project implementation with go live extremely quickly. They have a responsive support team which is crucial to our retail operations.” A single view of stock across stores The retail team and store staff members are now able to view stock movements in between stores, check product availability, sales commission, and customer information across all stores, from any store. The new retail POS system not only helps to record accurate stock levels, but it has also streamlined workflow by eliminating time consuming manual processes. Seamless customer registration for membership Eurostop’s Loyalty system enables customers to register remotely via their mobile, while browsing through the store. This enhances their in-store experience by reducing waiting time at the counter, which has been particularly useful in the current COVID-19 climate. Upon successful member registration, this information is then reflected instantly in the POS system. Darren said “The customer loyalty module really allows us to improve on our CRM efforts”. Real-time information and dashboard Above all else, the integrated systems provide visibility of real-time data. At the same time, the retail solution also provides a customised management dashboard to allow the management team to make informed decisions and increase operational efficiency. The management team can easily view information such as sales by store, product, customer, stock balance, and more. With this information, All Watches can further enhance their customers’ experience by targeting them with relevant content online and focusing on their needs while in-store. “A responsive support team which is crucial to our retail operations.” Darren Ng, Managing Director All Watches About All Watches All Watches is a reputable and trusted brand with a notable heritage as a timepiece specialist. With extensive experience in the horology industry, Mr Sunny Ng started All Watches in 1984 at Lucky Plaza and later with a second store at Wisma Atria. In 1996, All Watches created a shop-in shop concept first at BHG Bugis Junction and later at OG, Albert Complex. Through the years, All Watches has grown from one shop in 1984 to the current 6 point of sales, including 1 in Kuala Lumpur, Malaysia. With 34 years of retail experience and success, trust and support; All Watches is now the authorised retailer of over 50 established international watch brands, including high-end prestigious names such as Omega, Tudor, Tag Heuer, Breitling, Mont Blanc, and international brands such as Longines, Rado, Ball and Tissot.
Kwang Sia improve productivity by using Eurostop POS and Loyalty systems
Fully integrated system across all brands and channels, including ecommerce and in-store traffic count, streamlines processes Real-time inventory management optimises supply chain resulting in overall efficiency of operations Centralised CRM system improves customer relationships and results in enhanced customer satisfaction “The Eurostop team goes the extra mile during a project, from the beginning to the end” Esther Chan, VP Kwang Sia The Challenge When embarking on creating an omnichannel and multichannel experience for customers, retailers are faced with the complexity of collating information and data promptly. This was exactly the pain point for Kwang Sia; managing 10 different brands across multiple channels can be quite challenging and without the right systems in place it can be unmanageable. Kwang Sia was looking for a solution that would streamline their current supply chain processes; from improving order tracking and fulfilment, to managing their existing customers across all brands. The system needed to have a centralised database and CRM system to provide visibility of real-time data and information to improve operational efficiency and inform better decision making. The Solution The Kwang Sia team was impressed by Eurostop’s retail solutions, especially the e-pos and e-loyalty system that could help improve their overall business. After a couple of meetings and product demonstrations, Kwang Sia was convinced that Eurostop’s award-winning retail solutions would fit their business needs. Eurostop was the chosen supplier because of its ability to meet their requirements – to streamline processes and optimise workflow across the supply chain, eliminating repetitive tasks like importing and exporting data from the various data sources. The solution would provide customised real-time sales reports and dashboards to monitor business performance. Finally, the after-sales support service that was offered won them over. The Result Swift rollout and project support for immediate business benefits With the support of the experienced Eurostop project team, the rollout of the project was implemented swiftly and with minimal disruption. Eurostop fully committed to ensure that the system was installed on time and the data migration was completed seamlessly for Kwang Sia, with operational efficiency maintained at all times. As a result, Kwang Sia is now able to analyse sales performance both in-store and online, monitor stock movements, in-store traffic counts and have true visibility of customers’ data. Real-time inventory management for operational efficiency Kwang Sia can now leverage the e-pos and inventory system through mobile technology to improve customer satisfaction. The overall system, inclusive of their e-Commerce store, is fully integrated to provide real-time information which will provide benefits such as the ability to monitor stock movements and to simplify stock take processes across multiple channels. “A customized and integrated solution that meets our needs” Esther Chan, VP Kwang Sia Centralised CRM system with e-loyalty across all brands With a centralised CRM system, Kwang Sia can enhance customer experience by using the integrated e-loyalty system. So now, their customers can shop, collect and redeem points and rewards across all their brands. The e-loyalty system also consists of digital receipts or e-Receipts of past transactions for digital consolidation of records. Additionally, the application is also integrated to both online and offline stores where customers can connect directly via social media channels or contact the preferred store directly via WhatsApp. Eurostop’s e-loyalty system also provides an in-store booking system from within the application to control crowd limits and in-store visits, which has been particularly useful during the challenging COVID pandemic. Kwang Sia’s customers can now pre-book, cancel and rebook appointments using hourly slots at their preferred store. About Kwang Sia With more than thirty years of experience, Kwang Sia is a leading premium fashion retailer in Southeast Asia. Headquartered in Singapore, they have a retail network across Singapore and Thailand. They are the partner of choice for leading global fashion brands such as A Bathing Ape, Diesel, Gerts, HUGO BOSS, Max Mara, MAX&Co., Marella, Weekend by Max Mara, We Are Special, Y-3, and Versace. Their retail philosophy is guided by their understanding of the needs of their discerning customers who value quality and service, as well as their innate understanding of each of the brands in their diversified portfolio. They create a complete retail experience for their customers; beginning from immaculate stores in premier retail malls to impeccable and highly personalised service of their staff.
5 Benefits of Retail ERP Software
When it comes to improving your relationship with customers and keeping track of all of your retail company’s important data, there’s nothing quite as beneficial as reliable retail ERP software. As one of today’s leading providers of inventory control and POS software, Eurostop has helped hundreds of retailers improve their processes with our specialised ERP software. However, we wanted to share some of the leading benefits with you, so here they are! Real-Time Information Having access to the right data when you need it is essential for making informed business decisions, which is why retail ERP software is a key component of any successful business. This is because it provides you with real-time information from across your business. It synchronises all channels, as well as business functions such as accounting packages, to provide a single view of data on which you can reliably base your planning and strategy. This is particularly important when managing products, stock, sales, promotions, customers and orders across multiple channels in a fast paced retail environment and for an omnichannel customer experience. Inventory Management When running a retail business, inventory management is extremely important, helping ensure you have the necessary products stocked to meet customer demand. Both too much and too little stock can cause financial problems, as well as not having a transparent view of where stock is located in your business. Through the use of ERP software and stock control solutions, you know exactly what’s in your inventory, and where. This specialised software will also enable you to track trends and make long-term forecasts based on historical data Customer Management Solutions In addition to tracking your inventory, the right ERP software will enable you to record and manage customer purchase history as well. Improve customer loyalty by being able to understand your customers better. An ERP system automatically collects data from across your selling channels, and with the right reporting tools, you can analyse their shopping habits and preferences, providing you with insight into how you can serve them best. With this valuable information you can create targeted promotions that will help you meet their needs and expectations. Point-of-Sale (POS) Solutions Many ERP providers, Eurostop included, offer connected POS solutions designed to streamline your retail processes and provide added oversight and data. Sales and customer data is automatically synchronised to your central ERP system, and product, prices, stock and promotions can be reflected in your POS so that your entire business remains up to date with accurate information. Sales Analytics Many of your company’s major decisions will be based upon one thing: improving sales. That’s why the analytics information provided by ERP software is such an important component. You’ll gain insight into which products are selling and which aren’t, allowing you to make informed decisions such as which lines, colours or sizes need to be marked down, or what needs to be replenished. An ERP system can help buyers and merchandisers with planning and to establish how much product cover the business has. Contact us today for more about cutting-edge retail ERP software! For more information about our comprehensive retail solutions, contact us online today or call +44 (0) 20 8991-2700.
5 Gaps ERP Software Can Bridge in Your Business
When it comes to running a retail business, process efficiency and accuracy of data are both essential to your success. That’s why many invest in cutting-edge retail ERP software, like that offered by Eurostop. However, if you’re on the fence as to whether an updated retail ERP system will benefit you, we’ve collected some important facts for you here. Below are five gaps in your business that reliable ERP software can help you bridge. Dispute Resolution One of the foremost advantages of retail ERP solutions is that they can make dispute resolution easier for all parties involved. You’ll have an accurate audit trail and records related to, for example, suppliers, product information, prices, stock movements, sales, orders and fulfilment status to help identify and resolve any potential issues and prevent any disputes in the future. Comprehensive Data With ERP software you’ll have access to a wide variety of data, unifying it all under one umbrella, collecting data from across all channels and suppliers. This is not only the most convenient and streamlined option, but it also offers real-time data that is as accurate as possible. Informed Decision-Making When you make an important decision for your retail business, it’s vital to have all of the facts so that you can make an informed decision. With ERP solutions you’ll have access to the necessary data and insights to act in a timely manner, improving both the accuracy and efficiency of your daily processes; helping you to make better plans for the future. Customer Service Another very important aspect of your business is how you treat your customers. Retail ERP software is designed to improve your relationship with customers in a variety of ways, collecting and providing you access to data like customer purchase history and preferences. This enables you to better understand and serve your customers according to their wants and needs. In addition, fulfilment modules will also enable you to keep a close eye on store replenishment and order status, so that you can manage and fulfil orders as quickly as possible for true customer satisfaction. If your customer base is in the EU, then it is also important to consider the General Data Protection Regulation (GDPR) and ensure that your system has the correct features to enable you to deal securely with customer data Centralised System A robust ERP system will enable your business to operate seamlessly, rather than in silos. Different departments and users can be allocated appropriate permissions to different modules in the same system, which means that they are all operating off the same up to date information. Disparate systems that have to be updated manually can be time consuming to keep up to date, and are prone to error. Contact us today for more benefits about retail ERP software! To learn more about how our ERP software can benefit you, contact us today online. You can also call +44 (0) 20 8991-2700 for more information about our mobile POS systems, and more.
Getting the Most Out of Your Retail Business POS System
Nowadays, things are rarely done the old-fashioned way. If you’re using a calculator and an outdated cash register, you could also be harming your business without even knowing it. That’s why so many have switched over to reliable retail POS systems, like those available from Eurostop. Like with most things, a great POS system is only as good as its operator, so let’s take a look at some of the ways to get the most out of your retail POS system. Ringing Up Sales The most basic thing you’ll be doing with your retail POS system is ringing up sales, but there’s a lot more involved in this process than you might think. Of course, the first part of the checkout process is adding the items being sold to your POS system by either scanning a bar code or entering it in manually. But that’s not all you can do: POS systems also enable you to apply discounts, take various payment forms, apply gift cards, perform mobile payments, and more. Managing Your Customers In addition to improving the sales process, a reliable retail POS system will help make it easier to manage your customers, improving both your sales capabilities as well as your customer service options. With a POS system, you can create a customer database to keep track of sales and repeat customers, you can also organise those customers into groups based on purchases and other criteria. Lastly, you can reward your loyal customers by implementing loyalty programs that offer special deals and discounts to frequent buyers. Reporting & Analytics Retail POS systems offer important tools to keep track of sales, enabling you to improve your product range and track seasonal trends and demand. With the right POS system, you’ll have access to product performance reports, regular sales summaries, and breakdowns based on products, SKUs, locations and customers. In some cases, you can also implement stock control software that enables you to keep a better handle on your inventory. Getting the Most Out of Your POS System To get the most out of your POS system, make sure you’re using all of the features and taking advantage of the tools it has to offer. Experiment with it and see what works best for you, getting to know your system’s resources. Contact us today for more about the advantages of retail POS systems For more information about our POS systems, mobile POS solutions, and stock control software, contact us online today or call +44 (0) 20 8991 2700.
Cash Registers vs. POS Systems: Which One is Right for You?
It doesn’t matter what kind of retail business you run, every fashion, footwear, jewellery, accessories, sportswear or department store needs a way to process transactions. However, if you’re wondering what type of transaction method is right for you, we’re here to provide some insight into the differences between a retail POS system or a cash register. Eurostop has helped many clients implement the most efficient transaction systems for them, so here are some tips for choosing between a cash register and a POS system. What Exactly is a Cash Register? Before diving into the details, it’s important to have a clear idea of each type of transaction method. Cash registers are used to ring up sales and often have a money drawer, and the capability to indicate the amount of each transaction and collect that data. More complex ones can also create financial records, add taxes, offer receipts, and more. They’re the cheapest transaction equipment, but for those who want functions like scanners and card readers, they’ll often have to pay extra. What is a POS System? POS systems offer many complex options, in addition to being able to do everything a cash register can. This type of system provides detailed transaction reporting and often has a touchscreen for easy use. Often, POS systems are composed of several components, including card readers,barcode scanners and a cash drawer. Although POS systems have been in use for decades, they’ve become the standard for retail establishments because they enable users to perform a wide range of functions, everything from tracking sales and customer information to stock control services. Additionally, many POS systems also make it possible to: Develop customer loyalty programs. Implement gift cards. Personalise service. Perform automated services. Collect data for business centralised insights and reporting. Implement marketing strategies. & More. Key Differences Between Cash Registers & POS Systems To choose the right solution for your retail establishment, you’ll need to take your needs and expectations into account. However, understanding the key differences between cash registers and POS systems is important. Some of the most notable ones include functionality, accuracy, , ease of use, reporting and integrations. In most cases, the return on investment will be invaluable. POS systems will provide more flexibility and functionality, as well as being easier to integrate with other retail channels. If change and migration is a worry, then make sure you select a reliable vendor will also be able to provide support and consultancy in your transition, which means that you can experience the benefits as quickly as possible and get the most out of the system. Contact Eurostop today for more about retail POS systems! For more information about choosing the best POS system for your needs, contact us online or call +44 (0) 20 8991-2700.
Understanding How A Retail EPOS System Benefits Your Business
If you operate a retail business of any size, you’re undoubtedly familiar with the term POS – for Point-of-Sale. POS systems are standard in any sales situation, encompassing the till, as well as any hardware used at the point of sale such as screens, barcode scanners, card payment terminal, cash drawers and receipt printers. Now, a new kind of POS setup has appeared: the retail EPOS system. These go well beyond typical POS systems, allowing you to centralise and synchronise data seamlessly between Head Office, online and offline outlets, are scalable and more. In this article, we’ll briefly talk about what a retail EPOS system does, and how the most common features can benefit businesses of any size. The Major Features in A Retail EPOS System Real-time stock data across all outlets One of the most important features of an EPOS system is its ability to allow a single view of stock. You get full visibility into your stock across multiple outlets, including both online and offline channels so that you can see what is available, avoiding customer disappointment and never missing a potential sale. Robust analytical systems A retail EPOS system facilitates accurate data analysis. Since it reliabily tracks and processes sales, stocks, prices, promotions and more across all your outlets, you can be sure that you have the correct data insights on which to base future merchandising decisions. Customer relationship management features With a good EPOS system, you won’t have need of a separate CRM system because it’s all in one package. This is beneficial to you, in terms of saving time and resources, but it will also improve customer journey in store. It also simplifies potentially complicated tasks such as introducing loyalty card programs. All-in-one purchase, payment, and delivery options A good EPOS software package will streamline every area of sales transactions. They should speed up basic sales, while offering multiple payment options and upselling opportunities, empowering your staff to provide the very best service. Likewise, customer service features like returns will be simplified as well. Customisable and flexible Businesses aren’t one-size-fits-all, and neither is EPOS software. Retail EPOS systems are customisable, with different modules for different tasks, and should easily integrate into your existing stack of business software. Eurostop is one of the most popular retail EPOS systems in the world. Contact us to learn why it’s so trusted!
The Most Important Features in A Good Retail EPOS System
An electronic point-of-sale (EPOS) software package is one of the best ways for growing retailers to get a handle on their sales, stock, and customer management. A good retail EPOS system, combined with Head Office software, centralises numerous functions which were previously handled separately, allowing stock-related activities to be streamlined, while also tying in-person and online sales into a single system. If you’re looking at EPOS systems for your own business, what features should you look for? These are some of the most important you should focus on. Four Must-Have Features in A Retail EPOS System A simple user interface A good easy-to-use GUI is a must in a retail EPOS system. You should have to spend as little time as possible re-training your staff on the new system. Ideally, it should be intuitive enough that staff can figure out functions on their own, even without being specifically trained on them. Be sure to get a demo of the system before buying! Substantially improved transaction times One of the biggest benefits for your business, your staff, and your customers will be a reduction in the amount of time it takes to perform a transaction. Common activities such as basic purchases should happen much more quickly, and it should also be easier to perform more complicated tasks like utilising loyalty cards. If your EPOS system isn’t significantly speeding things up, there’s something wrong. Strong security & GDPR Compliance Cybercrime has become a major problem in the past decade, and it’s not going away. When you switch to electronic actions and record-keeping, you must do as much as possible to protect your customers’ information from data thieves and other online criminals. This is particularly important if you’ll be processing sensitive information like credit card numbers or handling personal data. The General Data Protection Action (GDPR) 2018, means that as a data controller, you need to ensure that you request and record consent when collecting personal data and respect the right of the individuals. Ask about what security measures and GDPR features the package utilises, before buying. All-in-one data collection Your retail EPOS system should be the focus of all sales-related data collection in store. As well as processing sales, it can also include customer management features and also store fulfilment, transfers and goods in features, as well as product and stock information. Combining them into a single place with robust reporting functions will substantially reduce your back-office work, as well as opening up new ways of reaching out to your customers. Eurostop is one of the world’s most-used retail EPOS systems, utilised by many of the most successful retailers globally. To learn more about Eurostop and its benefits, please contact us.
Mobile Point of Sale: Future Market Growth & Enterprise Benefits
When it comes to conducting business nowadays, technology is key. For a retailer, omnichannel retailing, click and collect and in store tech including mobile point of sale (mPOS) enhances brand touchpoints and the customer journey. However, you might be wondering about the future of mPOS; is it here to stay? The team from Eurostop has helped businesses of every shape and size implement mPOS solutions and we’ve collected some insight about the technology here. Below you’ll find some of the benefits mPOS offers and more. What Exactly is mPOS? Before diving into the details, it’s beneficial to learn a bit more about the specifics of mPOS. In the simplest of terms, it encompasses any mobile device (smartphone, tablet, etc.) designed to take the place of a traditional cash register. A retailer would require internet connection, a card reader, and a POS app. Barcode scanners can also be connected. Some vendors, like Eurostop, can even provide a single solution, all in one device that has built in scan engine and integrated payments, so that you don’t need to worry about connection to other devices, truly optimising mobility and convenience. Cloud-connected business management systems have enabled retailers the flexibility to move away from the traditional stationary transaction system, affording options for customers to purchase what they need and for businesses more flexibility when offering their goods and services. mPOS solutions make it easy for retail stores to deliver a personalised service and interact with customers anywhere on the shop floor. They can easily refer to their mPOS system to answer questions, check product inventories, process sales and more. Why Are mPOS Systems Growing in Popularity? Some of the key reasons why mPOS is becoming ever-popular worldwide are because: In a connected world, consumers are looking for an enhanced in store experience. Not only is convenience key, but a personalised service is paramount. mPOS allows retailers to scale up during busy periods, minimising queues, and being able to offer great customer service anywhere in the store. In the wake of COVID-19, mPOS can also assist with social distancing measures with increased security measures required in stores. The universal acceptance of EMV card standards. The growing rise in digital payments, including mobile wallet and high-value credit card payments. Increased global efforts by governments to promote cashless transactions. The low cost and easy implementation of mPOS systems. The value-added services mPOS solutions automatically offer. Other Benefits of mPOS Implementation You might be wondering if there are additional benefits to implementing the mPOS solutions available from our team of experts, and we’re happy to declare that there are. In addition to the advantages already mentioned above, the right mPOS system can make it easier to scale up with demand. Contact Eurostop for mPOS solutions today! If you want to streamline your transaction process and offer the very best services to your customers, contact Eurostop today to learn more about our mobile point of sales systems. Call us at +44 (0) 20 8991 2700 or contact us online!