| |May 20199With the internet sales rising continuously (i.e. over approximately 15 percent each quarter) and the ecom-merce share estimated to reach 17.5 percent of the total global sales by 2021, the stage looks all set for a `change'. What should businesses aim for?Of late, Digital POS systems have simply meant an electronic checkout system or at max an in-store screen for brand display and signage. However, this notion is gradually changing. With the continuously evolving technologies, the POS terminals have scaled too. To put more appropriately, the mPOS should no more only be defined as a point of sale, rather it is a `point of experi-ence and satisfaction'.From being merely cash registers to integrating bar-codes, credit card transactions, and further to mobiles, tablets, mobile POS systems, digital wallets, and more, modern day POS terminals allow retailers in being cus-tomer-centric, besides offering operational benefits. In other words, it primarily helps shop-floor sales teams in deploying smarter approach to selling prod-ucts and services. Moreover, it adds to the customer satisfaction level by delivering an enriched experi-ence, and keeping them encouraged to come back again and again. The `touch' to `technology' paradigm is ushering in the era of `connected digital POS'. This is a junction where information about people and devices will help retailers sell better and customers shop smarter. Questions and challenges for defining Digital PoS strategies:· How can businesses deliver an instant customer value by using the digital POS systems?· How can shopping experience be personalized through unified POS?The digitally-powered POS plays an imperative role in offering a seamless customer experience to, but at the same time, it also provides real-time data and in-formation from disparate touchpoints spread across lo-cations. It's not just about creating a future-proof POS system, rather about creating a unified experience. Furthermore, as future-proofing exercises of POS, the collaboration between Pay by Voice, Pay by Face, integrated cross outlets, mobile shopping, and various other evolutions can pave way for greater experience.mPOS Transcends Beyond the Conventional Aspects In the digital economy characterized by agility and ubiquity, customers demand a personalized experi-ence that can take them by surprise and delight them every time they communicate and interact. To drive this, businesses must implement measures to offer an omnichannel experience. The thoughts and strategies should transcend conventional parameters, such as product and price. The current and future success depends upon whether or not businesses are focusing on provid-ing convenience, curation as well as an immersive experience. The retail experience in this dynamic business environment is directly proportional to the brand's promise, and hence, it is the core to building consumer loyalty.In order to win consumer loyalty and advocacy, busi-nesses must focus on the qualitative aspects of custom-er experience; retailers must strive for enhanced, scal-able, and sustainable POS systems, which are not just limited to monitoring `sales' but also leave an ever last-ing impression on customers buying across platforms and devices. MORE THAN BEING MERELY A TRANSACTION FACILITATOR, THE MODERN DAY POS TERMINALS ARE ABOUT OFFERING SEAMLESS OMNICHANNEL EXPERIENCES TO CUSTOMERS AND MERCHANTS
< Page 8 | Page 10 >