The importance of POS system
The importance of POS system
Optimize the checkout process
A POS system speeds up your checkout process significantly. By having a centralized database of your products, pricing, and customers, you can quickly find the products, assign the order to a customer, and apply discounts with little effort.
If you’re using a barcode scanner, the process is even faster.
Customers never want to wait in a queue for long to complete their purchase. With the help of an efficient POS system, you’ll reduce the chance of customers leaving your store without a purchase.
A fast and convenient checkout is one of the many benefits of a POS system. It can be a winning point in your customer’s eyes, keeping them loyal to your brand.
Provide more payment options
Payment technology has changed significantly in the past 5 years and retailers are under great pressure to adapt to these changes, hence the importance of POS systems.
In addition to cash and credit card, customers can request to pay with eWallet, in installments, or they may want to combine different methods to pay for one order. With a flexible POS system, you can offer more payment options for your customers and make sure they complete the purchase with a good impression of your brand.
Offer discounts that benefit you and your customers
A POS system is important because it gathers all your data on sales, inventory, and customers. With this information, you can calculate and run marketing campaigns that encourage customers to come to your store while maintaining your bottom line.
Depending on your POS capabilities, you can set up flexible promotions based on items, order amount, membership tier, and more. Then the POS can apply for these promotions automatically on any sales, saving you the time and effort to calculate everything manually.
Run loyalty programs
In addition to promotion, running loyalty programs is a guaranteed method to attract new customers and increase repeat purchases. Integrating programs such as membership or gift vouchers into your POS makes sure your customers are rewarded for every purchase without extra work for your staff.
An advanced POS system can go one step further and display loyalty program information to encourage customers to purchase more. For example, your customer can see how many points they have or how much they need to purchase to qualify for free gifts.
The need for a centralized customer database is one of the reasons why many Magento merchants chose Magestore POS.
Eliminate human errors
If your staff is manually entering the products and prices, there’s a high risk of error, especially if they have to handle a high number of transactions every hour.
Another benefit of POS is that it ensures you’ll always have the correct product SKU, consistent prices across your system, and the correct order amount at any time. All sales order data is recorded into your POS system, making it easier to go back and review the information if necessary.
Reduce your losses
Intuit Market Research showed that retailers with revenue of $300,000 can cut costs by close to 10 percent or $30,000 a year.
One of the biggest problems many retailers struggle with is inaccurate inventory. These losses can be quite painful to absorb if you can’t get to the bottom of the issue.
Keeping good records of your inventory is an effective solution. By knowing how much stock you have in your store and where they are, you reduce the risk of misplaced or stolen inventory and have the ability to take action quickly.
Manage your employee
Coordinating and managing employees can be tricky if you’re using separate worksheets.
A POS system helps you keep track of who worked each shift. An advanced POS system can even provide you with reports on the sales performance of each staff and calculate the commission rate.
This helps you keep track of each staff’s progress toward their goals and decide how to support or reward them.