As technology becomes a bigger part of everyday life, customers are beginning to expect a certain level of modernity in their shopping experience. Because of this, cloud-based, mobile point of sale systems are increasingly becoming a necessity for retailers. Mobile POS systems allow for sales associates to be more engaged with customers and create a better in store experience by eliminating lines.
With cloud POS systems, retailers can sync sales data for both online and physical stores, eliminating the need to track metrics on multiple platforms. Payment systems, inventory lists and online catalogs can be viewed and analyzed in a single place, simplifying workflow. Mobile POS systems can be integrated with existing payment systems and card readers, and a variety of payment options, like split bills or multiple payment methods, are available.
Fashion designer Lilly Pulitzer’s The Pink Stores recently made the decision to transition from hardwired POS to a cloud-based option. The mobile model was piloted at the store’s Boston location where the cash wrap was removed to make more room for merchandise and the sales team was given tablets with a POS app to ring sales.
In the first 11 days of working with the cloud-based system, sales increased almost 25 percent over the same period last year ,and the store was 38 percent ahead of the year to date sales prior to the launch. Sales metrics were up across the board, with a 17 percent increase in transaction value, 12 percent raise in units per transaction and total units sold up by 19 percent.
Benefits of cloud for retail
Implementing a cloud-based POS allows customer metrics and buying patterns to be available in real time. Access to up-to-the-minute data empowers sales associates to make more intelligent product recommendations and creates a deeper bond with the customer, increasing the chance of a repeat purchase.
According to the Wall Street Journal, cloud POS systems help accounting to be more accurate, as transactional information is able to be tracked and consolidated on a central dashboard. Retailers don’t have to save receipts and other documents because it’s all saved electronically within the POS system and can be transferred into accounting software or bookkeeping programs.
Cloud-based POS systems are more convenient for retailers because they can be used on mobile devices, eliminating the need for dedicated cash wrap space that takes up floor space better used for inventory. With the hardware gone, most of the maintenance and upkeep of the POS system is also done away with. A third party cloud provider will take care of system updates and troubleshooting, saving money on IT professionals. Cloud-based options are also safer in case of a system failure, as the third-party provider will be much quicker in dealing with issues than an in-house team, reducing lost sales due to an out of service system.