4 key factors to consider when choosing a POS system
To retain customers and keep them coming back to your business, customer experience is paramount. When it comes to the point-of-sale and customers are ready to pay, they expect three things. Speed, convenience, and security. The technology you choose for your point-of-sale has the power to make or break a positive customer experience.
But how do you decide which POS system and hardware to choose? In this blog we dive into the benefits of using a POS system and our recommendations on a reliable solution.
What is point-of-sale (POS)?
Point of sale is an area in a store where a customer completes the last leg of a purchase. It’s a combination of software and hardware, which may include a computer, a physical terminal, scanner, printer, and other devices to operate the point-of-sale software. The software tracks and organiszes your store’s information, all of which creating a better customer experience.
Benefits of a point-of-sale system
There are many benefits to investing in a good POS system, one main benefit being speed. An integrated system can offer reduced waiting time, faster scanning of items, and quicker payments which customers can appreciate and enjoy. It can also help you with inventory management, orders, purchasing, customer management and more. Operations are simplified and the system can assist you with multiple functions to help you reduce mistakes automatically.
A POS system can also help you personalise the customer’s experience through special promotions and loyalty program offers. With the information from each customer, you can direct them to the products they are interested in. This can lead to increased customer satisfaction because you offer a product that matches their preferences and tastes.
According to a study by the Marketing Insider Group, “7 out of 10 customers are now in favour of more personalised customer experience.” ¹
Speed has always been a key factor for consumers at the point-of-sale, and today’s consumers want an efficient system that gets them in and out as quickly as possible. As for convenience, consumers increasingly expect contactless payment options, along with the tightest possible security.
To satisfy these consumer demands, the latest point-of-sale systems are experiencing huge demand. The number of contactless payments made in the UK increased by 12% to a total of 9.6 billion and accounted for more than a quarter of all transactions made in 2020. ²
With a projected compound annual growth rate (CAGR) of 13.87%, sales for POS terminals in Europe are expected to hit 22.10 million units by 2026. ²
It’s clear that there are many benefits to investing in a good point of sale system, with speed being one of the main factors benefiting both the business and its customers. But with so many options for you to choose from, how do you choose the right POS system for your business?
What are the key factors to consider when choosing a POS system?
1. Cost of hardware
When you’re considering updating or replacing your current system, hardware costs are front of mind. Not only the upfront costs of the hardware but you also need to consider potential repair costs. You don’t want to be caught out with buying something with a low price point, only to need regular repairs.
With a wide range of hardware available at the Barcode Warehouse, we can advise you on the best fit for your business. Because of the lower price point, using Android products can help reduce the overall cost of equipping your business. With the added option of our unrivalled managed services to keep track of your devices and any repairs you may require.
POS devices are specialised pieces of equipment built for retail, hospitality, and leisure environments. Point-of-sale systems are different from general-purpose computers, so you need a system built for the specific requirements. Android POS systems are a reliable choice as they are simple to install, connect and support.
3. Cost of development
Developing an Android POS system has a low cost in the long run due to a wide range of factors — including being one of the largest developer ecosystems. In addition to building your own system, you can easily leverage existing systems to keep under budget.
4. Customer experience
Customers encounter your company across various platforms. It’s important that customers who shop on your website have a familiar experience as shopping store, and those that use self-service kiosks have a similar experience in your mobile app. Using an Android POS system allows you to build across platforms, providing an interactive and fluid experience for customers.
Android may have started as a consumer-focused operating system, but companies such as Elo have made it enterprise-ready by offering a range of devices, support and security enhancements that make it a great choice for a reliable POS system. With Elo, you can configure the POS system you need, whether it’s either reinventing a retail experience with scan-and-go stations or self-serve checkout or updating dining with ordering kiosks or digital menu displays.
In today’s mobile-first world, Android is already heavily invested. A reliable choice for your POS system is Android for business to simplify and secure your point-of-sale.