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Most of the retail merchants operate on tight margins and using manual methods to get insights on their shoppers can be a tedious and time-consuming process. Furthermore, being involved in tasks like sales reporting and inventory management manually can deviate the focus of a merchant from the core business areas.
A feature-rich Point of Sale (PoS) machine is one of the most valuable tools that can help retail merchants manage their routine tasks and reinvent the in-store experience for the customers. Having the right PoS machine is the key to success for any retail business can simplify business operations, reduce complexity and increase profitability. it is important to choose one that has all the necessary features required to run a business smoothly.
Let us have a look at some of the must-have features in a retail PoS machine:
#1. Helps in inventory management
A retail PoS machine must have the ability to track inventory in real-time. Inventory tracking in real-time can help businesses better plan their stock and not run of stock for high demand items that their customers want. Business owners can track their supply levels efficiently by integrating business orders with in-store purchases. A well-managed inventory can help a business in being more organized and streamlined. Adding on to this, if well-run, ordering stock with suppliers will take only a few minutes.
#2. Simplifies checkout process
A retail PoS machine should offer a simplified checkout process. Digitizing the payment acceptance process at the retail PoS will help expedite the checkout process and contribute towards an improved customer satisfaction.
#3. Helps manage the customer experience
A good PoS machine should have the capability of integrating with a CRM solution to help pull out relevant customer data. This will help keep a track of the customer's purchase history and help identify the repeat buyers. Sales and marketing teams can then use the data to build long-lasting customer relationships.
#4. Multiple payment modes
Modern retail businesses need to consider the payment preferences of their customers. An all-in-one PoS machines should therefore have the capability to accept multiple modes of payments e.g. credit/debit cards, mobile wallets, net banking, Bharat QR and UPI.
#5. Digital receipts
Paper receipts hardly contribute to the retail experience of the buyer or the seller and at the same time are not environment friendly. The PoS machine's billing software must have the functionality of directly sending copies of receipts to customers via text messages or email. This can further help in establishing a successful customer relationship and alongside improve customer experience.
To conclude, the retail industry is all about meeting the needs of customers. Use of better technology can not only simplify business management but can also provide an enhanced customer experience. A retail PoS machine having features that align with your business requirements is a must and investing in the right retail PoS machine can do wonders for your retail store. Make an informed decision and choose the right option for your business!
By Vinisha Kataria | on February 28, 2021
By Vinisha Kataria | on February 25, 2021