Learn why a mobile point of sale can provide a competitive advantage.
Black Friday has come and gone, and now a busy festive period follows. A chaotic few months are underway for retailers. As consumers flood both brick-and-mortar stores and online sales platforms to complete their festive shopping, retailers relish the opportunity to capitalize on enhanced spending as the year winds to a close, before kicking 2023 off with a bang during January sales.
However, this year’s festive season is expected to be different. The past few years have not been without their challenges — COVID-19 negatively impacted brick-and-mortar shopping in 2020 and 2021’s holiday period was hindered by a plethora of supply chain issues. This year’s challenge, of course, is the current economic climate. While retailers will be wary of lower spending over the next few months, tighter purse strings only put more emphasis on the significance of a successful festive season — where retailers slash prices and offer deals to customers.
For retailers, competition is always fierce, but this year could potentially take that competition to another level. This is why they must evolve and find ways to create an in-store advantage over rival retailers — and mobile point of sale (mPOS) can provide that competitive advantage.
This festive season will see a significant surge in in-store footfall, and retailers must be ready for busy stores. With heavy traffic expected, retailers must act effectively to minimize queuing times, completing transactions quickly and effectively.
Only by optimizing the time spent in-store by customers can brands expect to succeed this year. Those who allow their customers to wait in long queues risk damaging the customer experience.
A mPOS plays a pivotal role in delivering this. With mobile point of sale, retailers can complete quick and easy transactions from anywhere in-store – providing a seamless experience for customers who want to spend their time finding great deals rather than standing in checkout queues.
Information is everything
Today’s consumer shops across multiple channels, and this will certainly continue to be the case as we hurtle toward January, as customers regularly browse online before heading in-store to purchase or pick up reserved items. In an effort to create a completely streamlined checkout experience, retailers can utilize an all-in-one retail technology solution that provides customers with maximum value throughout their entire journey — from initial interaction through to transaction.
Shoppers demand flexibility and ease at each touch point, and they need to be able to shop as per their personal preferences. Whether they want to buy online, pick-up in-store; buy online, return in-store (BORIS); complete their entire purchase online, or browse and purchase completely in brick-and-mortar stores, consumers expect a seamless journey at every stage of their journey. An omnichannel approach from retailers that stretches to POS is essential.
By deploying an all-encompassing retail solution that integrates a range of technologies across the customer journey, retailers can evolve mPOS devices from simple transaction systems.
From an advanced order management system (OMS), to clienteling, secure customer relationship management to accurate reporting and analytics (R&A) and inventory management, retailers can integrate a range of technologies that all communicate in real-time to provide the ultimate customer experience. By the time customers are being served, in-store associates can quickly gain access to all necessary information — such as reserved items, scheduled returns, the most up to date deals or stock levels – to deliver an efficient and streamlined checkout experience. This further minimizes queue times and maximizes sales throughout the festive period.
Personalization within the madness
An all-encompassing retail technology approach doesn’t only benefit the customer at a transaction level. It also plays a crucial role in helping retailers provide a personal touch during the hectic holiday season.
With the software mentioned previously — OMS, CRM, R&A and inventory management — retailers can appeal to customers based on past interactions. Personalization is at the core of consumer demands, and retailers who can provide a highly personalized customer experience can gain a competitive edge.
Returning customers can approach in-store associates, and staff will have prior knowledge of previous activity — from item preferences, to shoe sizes, all the way through to recorded notes from past in-store conversations. By leveraging this data, staff can provide consumers with customized offers and alternative suggestions — which can help to increase average order value (AOV) and total spend.
Efficiency is the key
As the festive season continues, retailers that succeed will not only offer great discounts, but they will correctly anticipate consumer demands and cater towards them. mPOS will save both customers and retailers significant time. Customers can in turn optimize their browsing — finding the best deals available — while retailers can maximize sales through fast transaction processing.
As retailers battle to gain a competitive advantage, a mPOS combined with a wider all-encompassing retail technology solution, can deliver highly personalized experiences with rapid checkout. It is the ultimate combination for festive season success.
With nearly two decades of experience in corporate and channel sales, as well as marketing, Amber Hovious leads Teamwork Commerce’s fast-growing retail software organization in its global expansion. Hovious joined the company in January 2013, and in her current role, is responsible for developing and managing Teamwork Commerce’s channel programs, partnerships and strategic marketing campaigns.