One of the secret weapons to surviving the adverse effects of the pandemic was point-of-sale (POS) technology. Today, this technology is empowering businesses across many industries to be more agile, so that they can design tailor-made experiences that enable them to maintain a loyal customer base and attract new prospects.
It’s hard to believe businesses have endured the challenges of COVID-19 for this long. As the world begins to slowly open up again and prepare for the next new normal, companies should reflect on what worked and what didn’t over the past year.
Overall, the rise in POS system popularity is mainly due to buyers’ expectations for customized shopping experiences. Shoppers are seeking unique and personalized connections with the brands or stores in which they interact. The key to success for retailers and restaurateurs in this volatile economy is the adoption of these tools that provide a better understanding of customers’ needs, wants, and expectations.
While no one can fully predict whether this shift in consumer behavior will ever go back to the way it once was, it is clear that the sophisticated POS system is helping businesses adapt and respond to these unique demands. Nevertheless, not every POS was created equal. They each have advantages that may or may not work for your business.
Key POS System Features
We’ve compiled a list of key features to look for when shopping for a modern POS system, so that you can ensure the investment is worthwhile.
Usability for your staff
Waiting in long queues to settle transactions and large crowds around the cash register are prominent pain points customers have endured for as far as we can remember. So, thanks to the POS, predicaments such as these have become a thing of the past. Additionally, a modern POS system also offers a better experience for consumers while being mindful of the hardships the sales and restaurant staff face on a daily basis.
Retailers have learned that shopping experiences must be quick and painless. Restaurateurs now know the value of a safe and convenient checkout process. POS systems are delivering these personalized experiences and facilitating customer-employee interactions. With Lightspeed POS, businesses benefit from increased mobility through an iPad with Bluetooth connectivity that can allow your staff to take payments from anywhere in the store.
An e-commerce plug-in or module
You want to create an omnichannel strategy to be able to provide the best experience online and off. Syncing brick-and-mortar and e-commerce stores is super important. E-commerce solutions are opening up new revenue streams by targeting potential customers. Typically, they target customers that seek the convenience of shopping from the comfort of home.
Cloud-based retail POS systems such as Lightspeed, are designed to connect all of the dots, so that a customer’s virtual experience matches the one in-store. Online shopping should be simple, fast and user friendly. Businesses need to understand how important a unified strategy like this is. By doing so, they raise their chances at making one-time customers into loyal ones.
It is imperative to get real-time visibility into your stock. You can accomplish this with software that allows you to sync and organize inventory your way. The right POS won’t leave you wondering if the shop has enough items in stock to meet customer demand. You’ll want to look for inventory management software that allows for accurate, real-time reporting at one’s fingertips. Essentially, this is necessary in order to make more informed decisions. Lightspeed takes inventory management one step further by simplifying tasks. These tasks might include verifying whether or not products are in stock with a touch of a button.
Reporting and analytics
Gone are the days when businesses didn’t know the needs and wants of their clients. The evolution of technology has made it very easy to obtain real-time data on customer purchasing habits. The secret to driving more profits and improving user experience is gaining a better understanding of the people buying the products. Over the past year, retailers and restaurateurs have turned to intuitive devices to help them better understand the buyer’s profile. Who are they? What are they buying? A good POS is the single source of truth for critical customer needs. Furthermore, these might range anywhere from who is purchasing top sellers, who is not, and so much more.