The Martec International’s 2016-17 report identified some interesting findings that industry people will surely find intriguing. Some may find the results to be surprising, while, others will have seen them coming. Let’s see what you were expecting and what you could foresee, shall we?
The study found that replacement plans for EPOS software and hardware systems were high throughout 2016. In fact, 29% of retailers planning to replace their current POS solutions with updated ones, and furthermore, cloud-based computing is now a market standard. Additionally, new checkout technologies now provide customers and business alike with faster, more efficient shopping experiences, with many offering built-in modules to systematically analyse the entire experience.
One such module available is CES Touch Business Analytics which allows retailers to identify trends around your products. For example, it can source the most popular items, at what times, along with which products aren’t performing well.
This means management can make informed decisions about the products they order and avoid surplus stock or being under-stocked, which can reduce overall costs considerably. With cloud-based intelligence, you can make inventory changes, see a business’s performance by running a variety of reports, and monitor employee activity from anywhere in the world, at any time.
In effect, this data captures the behaviour, past purchases and preferences of your customers. Enabling retailers to offer well-timed and targeted promotions. This both rewards loyalty and keeps customers shopping in your store. For such reasons, checkout data can be of huge value to retailers. But it has to be enriched by data from other channels.
EPOS technology is transforming the checkout experience
A report by Retail Technology online magazine, the number of retailers, asking their customers to share their personal details is rising. One such method of gathering this is by providing digital receipts. This represents another technology that is not only convenient but acts as a means of gathering customer’s email addresses for direct communications. This will help to build a base of information on a customer’s habits and preferences on which to build personalised offers and act as a selling device with links to the transactional channel.
Technology is transforming the checkout experience, both in terms of the physical customer experience and the insights it can deliver to retailers. To be truly successful, a retailer must implement developments that primarily deliver genuine customer benefits. Technology needs to be truly innovative and help give your business that ‘X-factor’.
If you need any more help or information on EPOS technology or EPOS training for your business, please get in touch with us here at CES Software today!