The age of cashless payments has led to retail and
other stores adopting point-of-sales (POS) systems. These systems can ensure smooth
customer experience with its user-friendly and efficient design.
What
are Point-of-Sales Systems?
Point-of-sales (POS) systems are devices used in
providing a seamless shopping experience to customers. These systems are expected
to replace the legacy checkout system by offering higher efficiency. They are
encrypted with impressive firewalls to preserve integrity of customer data. They
can be regularly updated to prevent any thefts, considering recent fraudulent activities
of hackers. They can be used to gauge consumer as well as employee metrics and
serve as an ideal performance grading tool.
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Grocery stores and supermarkets are increasingly
adopting this technology in lieu of existing legacy checkout systems. Cashless
and digital payment schemes are also expected to play a major role in
influencing this trend. Recent technologies like Internet of Things (IoT) can
provide this market much-needed impetus.
POS
Systems Enriching Customer Experience
Hewlett-Packard (HP) recently launched a sleek POS
system with enterprise-grade security. This is expected to prevent any possible
theft from employees or any external source. It is an in-built system with a
standalone printer and barcode reader to give employees a rich experience. It
is portable and has a self-service option for consumers.
Cisco Systems has developed an architecture model
for its POS system with a database to store necessary metrics to enrich
customer experience. Its FastRetail solution and Connected Mobile Experiences
(CMX) allows consumers to improve their shopping experience with ease.
Market
Outlook
According to a report on Radiant Insights, Inc., the
global point-of-sales systems in retail market is estimated to generate increased
revenues by 2020. It is headed for expansion during the forecast period (2016–2020)
due to the systems’ rapid adoption by small and medium enterprises. Trend of
cashless payments is anticipated to drive global market growth.
Mobile POS systems can guarantee good dividends due
to their user-friendly nature. North America may reign over the worldwide
market till 2020, while Asia Pacific is expected to display a robust CAGR due
to expanding ecommerce sector.
Prominent players operating in the market include
Hewlett-Packard (HP) Inc.; Samsung Electronics Co. Ltd.; Panasonic Corporation;
and Cisco Systems Inc.
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Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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