What is Retail POS System, and how is it enhancing customer experience

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www.360quadrants.com

• What is Retail POS System, and how is it
  enhancing customer experience?

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Point of sales in the retail industry is an area
surrounding the cash register where customers
execute payments for purchase goods. POS is
important for retailers as customers make
purchasing decisions on high-margin products and
other decisions right here. Earlier, cash
registers were used to store cash and a few other
information, but currently, POS evolved with more
functionalities that provide retailers a chance
to be ahead in the competition. Retailers need to
put in some extra effort around segmentation and
engagement policies to make a strong and
long-lasting connection between the brand and
customers. The best retail pos system market was
valued at USD 9.26 billion in 2020 and is
expected to grow at a CAGR of 9.5 from 2021 to
2028.POS actively helps in enhancing customer
experience, here are a few of the waysSupports
a growing range of preferred payment
typesCustomers vary from each other, and so does
their mode of payment. Customers happen to make a
critical decision at POS, and as a retailer, one
will never want them to cancel a transaction due
to the unavailability of the required payment
option. A good retail POS will take care of this
and go beyond traditional payment
methods.Provides quick product-related
informationThe integration between POS and
product catalog helps in quickly looking up for
any item and gives related information.
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• Seamless integration
• The retailer can integrate POS with other modules
  as well, such as inventory management or loyalty
  plans, this can bring customers immense
  happiness. POS checks the status of products and
  keeps updating in real-time this way retailers
  can minimize situations where customers cant buy
  a product because it is out of stock. Similarly,
  customers are delighted to be rewarded for their
  consistency and loyalty towards the brand.
• Customer-facing displays
• A customer-facing display means customers being
  involved in the entire transaction process
  keeping it transparent. They will be able to see
  the cost of each item and can even provide
  feedback, which helps in improving services.
  Customers can also submit their personal
  information through an interactive kiosk, and
  later they can be provided some discount coupons
  on their birthdays or anniversaries.
• Price Consistency
• If a retailer has multiple outlets, then they
  need to maintain price consistency across stores.
  Since POS offers a digital database, retailers
  can make amendments across all outlets easily.

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• Promotions
• Retailers may need to run promotions or discount
  coupons to keep their inventory moving POS will
  let retailers do this with ease, avoiding manual
  price updating or product-related information. It
  will let retailers identify which stock has to be
  moved and how much should it be priced based on
  various parameters, and it automatically triggers
  an email/SMS to customers.
• Analytics
• The retail POS system allows customer profiles to
  be attached with its purchasing history, and this
  becomes easier to identify shopping patterns and
  making customized offers for them. POS will let
  one categorize customers based on the amount they
  spend on shopping, and then retailers can
  accordingly suggest if they wish to cross-sell or
  up-sell.
• Accurately answers customer query
• With the help of POS, any sales associate can
  correctly answer customers questions by simply
  checking details of the product or
  purchase-related information on their database.
  It saves time for customers as well as retailers
  and eliminates chances of confusion.
• Connectivity across all the stores
• POS offers a centralized database that enables
  retailers to check, modify, or update information
  from anywhere. This is convenient for users as
  they do not have to particularly travel to the
  same store for customized offers. In fact, in
  case of return or refund, they can walk to any
  store, which is closer to them, this feature
  enhances the customer experience greatly.

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• About 360Quadrants
• 360Quadrants is the largest marketplace looking
  to disrupt US 3.7 trillion of technology spend
  and
• is the only rating platform for vendors in the
  technology space. The platform provides users
  access
• to unbiased information that helps them make
  qualified business decisions. 360Quadrants
  enables
• vendors to influence the business decisions of
  potential clients. Vendors get to win ideal new
• customers, customize their quadrants, decide key
  parameters, and position themselves strategically
• in a niche space, to be consumed by giants and
  start-ups alike. Experts get to grow their brand
  and
• increase their thought leadership. The platform
  targets the building of a social network that
  links
• industry experts with companies worldwide. The
  platform has around 400 total buyers across
• various markets.

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•  
• Contact
• Mr. Agney Sugla
• agney_at_marketsandmarkets.com
• 630 Dundee Road, Suite 430
• Northbrook, IL 60062