An article posted on ConsumerElectronicsNet.com entitled “Survey: Retailers Using Mobile POS Expected to Triple By 2018,” perfectly illustrates just how quickly new technology can spread throughout the retail sector of our economy.
The article points to a recent report issued by Infogroup Targeting Solutions (ITS) entitled “Breaking Through Customer Engagement Barriers with Innovative Marketing and Technologies.” Results were based upon a survey which polled 100 retail executives on technology and data use in sales and marketing.
As the only full-service POS provider — from software development to franchise incubator to ongoing support — part of Sintel’s commitment to our customers and industry is to share high-impact news.
We form lasting partnerships with our clients that you simply can’t get from a reseller, allowing larger franchises to grow and providing startups the foundation for future growth from the very beginning by acting as a franchise incubator. Our expertise can help you avoid common pitfalls of entry into this thriving but complex industry — including the rapid pace of technological change.
Whether you’re a first-time franchise hopeful, a small business owner or an established chain, it’s always smart to stay on top of technological industry trends.
Here below, we summarize the highlights from ConsumerElectronicsNet.com blog post:
– Although thus far only 26 percent of retailers have deployed mobile POS, more than half of the retail executives surveyed in the study said plans were underway to roll out the technology by 2018. ConsumerElectronicsNet.com writes, “Only 23 percent said they have no plans to ditch their cash registers in favor of a mobile checkout strategy that would allow them to complete transactions from anywhere in the store, instantly check inventory, and accept payments from smartphones and digital wallets.”
– “The adoption of mobile POS is a great way to capture valuable customer information, but our survey revealed that retailers struggle with using the data that they already have,” said Don Patrick, president of ITS, in the blog. “Retailers must also invest in analytics to maximize ROI and improve the customer experience.”
– The report shows similar results for sales via social media channels, with just 24 percent of retailers currently allowing for customer purchases via Facebook and other similar channels. By 2018, 46 percent of retailers estimate they will have the technology in place for such transactions.
– Although nearly 40 percent of the retail executives have no plans to offer free WiFi to customers, the blog post quotes Michael Penney, managing director of agency services for ITS, “Some retailers require the bandwidth provided by free WiFi because they’re developing sophisticated personalization strategies.” Alternatively, adds Penney, “Others either don’t have a marketing need right now or think that WiFi will become unnecessary as cellular networks advance.”
– The ITS report reveals the struggle retailers face in implementing so-called “Big Data” strategies, given that 47 percent of the surveyed executives named using real-time customer data to generate customer offers as their biggest marketing challenge. Currently, only 28 percent are frequently sending out real-time offers.
– Marketing message consistency across all channels remains elusive, with only 37 percent of retailers able to do so. Half said they could coordinate marketing messages across some, but not all channels, and thirteen percent of survey respondents admitted to marketing separately within each channel.
– Retaining transactional and purchase history data was ranked as the most valuable by 58 percent of those polled. When asked if social media data was the top priority, only 5 percent said yes.
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