Rapid change has become a defining feature of the retail landscape, and technology is at the heart of it. Faced with the unrelenting growth of ecommerce, traditional retailers have found their markets severely squeezed, to the point where even some of the biggest chains have found the competition too much and are no longer trading.
For those that do survive, trying to resist the march of progress and stick to the old ways is simply not an option. Modern retail is now an omnichannel business, with nearly all store operators also having to navigate a space for themselves online. But beyond that, keeping stores viable demands a rethink about their role, what they can provide to customers that ecommerce can’t, and what kind of experiences can be created to keep shoppers coming back.
Technology is key to this transition, and nowhere is the evolution of in-store technology more apparent than in point of sale (POS) systems. Compared to the simple tills and cash registers of old, modern POS solutions are increasingly sophisticated, versatile and varied, with multiple types of hardware linking together to create a whole greater than the sum of its parts.
Let’s explore some of the top POS hardware trends shaping modern stores.
Mobile POS (mPOS)
Mobile POS systems are revolutionising the retail experience by offering unparalleled flexibility and mobility. Equipped with specially modified smartphones or tablets, retailers can process transactions anywhere in the store, enhancing customer service and streamlining operations. From pop-up shops to large retail chains, mPOS is empowering businesses to adapt to changing customer demands and optimise their sales process.
Self-Checkout Kiosks
Self-checkout kiosks are gaining traction as consumers seek faster and more convenient shopping experiences. These machines empower customers to scan items, make payments, and bag their purchases independently. While they reduce wait times and free up staff for other tasks, retailers must carefully consider factors such as theft prevention and customer support to ensure a seamless and positive experience.
Biometric Payment Systems
The future of payments is becoming increasingly touchless, and biometric technology is at the forefront of this trend. Fingerprint, facial, or iris recognition systems offer secure and convenient payment options, eliminating the need for physical cards or PINs. As biometric technology matures, we can expect to see wider adoption in retail stores, enhancing both security and customer satisfaction.
Smart Displays and Digital Signage
Interactive displays are transforming the in-store shopping experience by providing customers with engaging product information and personalised recommendations. These displays can be integrated with POS systems to deliver targeted promotions and enhance the overall shopping journey. Digital signage, on the other hand, can be used to showcase products, display advertisements, and create a dynamic store atmosphere. They are also a potentially lucrative source of additional revenue for retailers via retail media advertising.
Ruggedised Hardware
Retail environments can be demanding, with POS equipment often exposed to spills, dust, and heavy use. Ruggedised hardware is designed to withstand these challenges, ensuring the reliability and longevity of POS systems. From barcode scanners to payment terminals, durable equipment is essential for maintaining efficient operations and minimising downtime.
As technology continues to advance, the POS hardware landscape will undoubtedly evolve further. Retailers who embrace these trends and invest in cutting-edge solutions will be well-positioned to meet the demands of today’s consumers and drive business growth. By leveraging the power of mobile POS, self-checkout kiosks, biometric payments, smart displays, and ruggedised hardware, retailers can create more efficient, engaging, and customer-centric shopping experiences.