Mobile POS gaining traction with retailers of all sizes
Customers are constantly looking for ways to make their shopping experiences more convenient, and retailers are happy to oblige. To accommodate patrons who want faster and more streamlined transactions, businesses have a wealth of tools at their disposal. But one element that has been receiving more focus from brands recently is mobile point of sale technology.
Traditional cash registers are located at fixed points throughout stores, meaning that customers have to find the products they want, walk over to the registers and often wait in line. However, with mobile POS solutions, the normal checkout process is changing. Now, employees are equipped with mobile devices that can accept credit and debit card payments, giving shoppers the chance to complete their transactions quickly from any point in the store. Retailers of all sizes are seeing this as an opportunity to leverage the technology to boost customer satisfaction and their revenue.
Small merchants taking to mobile POS
For smaller retailers, staying ahead of the competition and their larger counterparts is a vital part of operations. Fortunately, mobile POS is helping them do just that, as Media Post reported that the technology is becoming more popular with developing retailers. The source cited research from the Local Commerce Monitor by BIA/Kelsey, which found that 40 percent of small companies are currently using mobile POS systems to process transactions. This is an increase from the 28 percent that said the same last year.
And while improving convenience for customers is one of the main reasons cited for adopting the technology, smaller merchants are enjoying that benefit as well.
"The key is they're not thinking of this as digital," said Steve Marshall, director of research for BIA/Kelsey. "They're not using mobile platforms because they're digital – they're using them because they're convenient."
Larger brands steadily adopting mobile POS
But the emergence of mobile POS within the retail industry is not only limited to smaller merchants – large brands are also getting in on the trend, according to Mobile Payments Today. Citing research from the Yankee Group, the source explained that 32 percent of U.S.-based retailers with more than 500 employees are currently using mobile POS systems. An additional 29 percent have plans to roll out mobile POS technology within the next year.
The source explained that analysts are expecting these solutions to continue to grow in popularity among retailers, especially as the holiday shopping season approaches. These systems provide more convenience for both consumers and merchants, which is an essential element for a great retail experience.
