The POS Powerhouse: The Evolution of Point-Of-Sale Systems

Point-of-sale (POS) systems should be simple, right? The customer has decided. They have goods in-hand. It should be as easy as pay and go. But no… far too many POS systems often serve as deal-breakers rather than deal-makers.

Due to limited functionality (such as no connection with online platforms and connected customer data), lack of mobility (most POS systems are fixed in place and/or don’t work with mobile devices as well as they could), and a lack of customizability and support, older POS systems are not keeping pace with either modern retail practices or current consumer behaviors.

Consumers demand a seamless shopping experience in-store, ideally one that carries over from related online shopping experiences, and here’s where a modern POS system can make all the difference to retailers across all markets: clothing, hardware, food and beverage — you name it.

The modern POS: Not just for transactions any more

The modern POS system is more than just a transactional tool; it's a comprehensive solution that integrates seamlessly with most all aspects of a retail operation: inventory management, customer loyalty, and more.

The modern POS is, essentially, an omnichannel communication and transaction station, capable of increasing customer insights and satisfaction in one fell swoop. And the benefits are evident — for consumers and retailers alike.

Seamless shopping

With a modern POS connected to ecommerce tools and channels, customers can enjoy a consistent shopping experience across online and offline channels. They can browse products online, make purchases in-store, and even return items through their preferred channels.

This seamless connection creates a bidirectional data stream between a retailer’s brick and mortar storefronts and its online markets, empowering them to create more compelling pricing, offers, and upsells. Additionally, it can help retailers drive more foot-traffic by offering in-store discounts for online shoppers when they have make a return, for example. (Why send them to UPS or FedEx when they could come to your store?)

Personalized interactions

Based on external data (such as a customer’s online preferences and browsing history), your POS system can help ensure every product a customer puts in his/her basket is a perfect fit and make recommendations that further fuel customer engagement.

From the retailer side, this means that your POS system can be used to actively upsell customers, and track the interactions that lead to more sales, helping store owners better tailor inventory, pricing, and even messaging based on an individual shopper.

Inventory visibility and management

Imagine a POS system that can help proactively manage inventory based on real-time reporting or purchases and returns. You don’t have to: with tools like Dynamics 365 Commerce and Power Platform, it exists. Retailers can reduce warehousing costs and in-store shrinkage costs by having critical information available the moment it comes into existence.

Customers benefit from this kind of visibility as well as they can easily check product availability across multiple channels before making a purchase decision. All of the above reduces the likelihood of out-of-stock situations and ensures a smoother shopping experience.

Loyalty

With countless ecommerce companies and as many business entities, the days of one big box store dominating any given market or geo are over. (So long, Sears-Roebuck: we hardly knew ye’.)  Which makes loyalty a currency more valuable in retail than cash money.

Fortunately — and by design — the modern POS system has loyalty at its core, integrating loyalty programs and other incentives that keep customers coming back and that also enable reward redemption across multiple channels.

The customer wins because, simply, there are more ways to win. Discount tiers, club programs, cash-back offers, and more. And the retailer wins due to that one word: loyalty. Because loyalty means more than a customer simply coming back. It usually means their friends and family are coming, too. Done right, loyalty doesn’t just last a lifetime: it goes on for generations.

Are you happy with your current POS system? Do you know where the rest of your market might be in adopting best practices in point-of-sale, customer engagement, and inventory management? Argano can help answer these question and solve these challenges, and create a strategic solution that will create a more data-drive, scalable, and profitable retail enterprise. Contact us for a free assessment.