The pandemic changed how we do things—from buying products in physical stores, sending money to a loved one, and even buying online. Nowadays, people lean into using cashless payment methods to buy and sell goods in the marketplace.
Meanwhile, the changes in norms also pushed existing practices to bloom. Electronic Point-of-Sale (EPOS) is a system allowing the exchange of money in a store or service. The procedure takes the concept of a cash register and integrates it with a computer system used for the growth and adaptability of a web-based system.
The need for the EPOS system arises in the retail industry. It keeps track of inventory management and sales and handles cashier operations. The system can also make management more organised and improve its workflow. But how are EPOS systems the future of the retail industry? Here are some ideas.
1. Promotes Mobile Payments
The existence of mobile payments continues to improve every year, making EPOS systems integrated in the future. It would make the system more flexible and adaptable to the advancement of mobile payments and make it more convenient for the customer. Furthermore, it would reduce the amount of loading time in EPOS systems.
Meanwhile, EPOS makes the checkout process more seamless and hassle-free for people struggling to pay with cash. Instead of getting discouraged due to a lack of money in hand, people can now charge their payments on their mobile phones through the help of e-Wallets and other digital payment methods.
2. Personalises In-Store Customer Experience
The in-store customer experience of a retail store has very little influence on the sale of its products. However, EPOS can help build the bridge between these two. Electronic payment integration can personalise the in-store experience of a customer, making their shopping experience more fun and friendly.
For instance, the store can be personalised to their taste and interest by proactively suggesting products that a customer may be interested in. The notification system can also be personalised to their preferences, making the customer feel safe and protected.
3. Provides Better Customer Control
Retailers can provide their customers with a self-checkout system for a more seamless buying and selling experience. A self-checkout system can also include a better and more accurate checking procedure for the customer’s information. It is essential, especially for an online marketplace, where the consumer buys a product from a store they have never been in.
Aside from the self-checkout system, the system can also give the customer an option to print the receipt. This way, the customer can keep the receipt for their records. The receipt can also be helpful for the customer in product returns, especially for online purchases.
4. Offers Better Security and Data Handling
One of a retailer’s biggest concerns is keeping the shop’s data safe. A retailer would not want to risk the safety of their customers’ and employees’ information, especially since the data can be considered the company’s biggest asset.
The EPOS system can help retailers keep the shop’s data safe and secure. Since it is a computer-based system, the system can keep track of the customers’ information, such as their payment history, information on in-store products, contacts, etc.
The EPOS system can also handle the data and ensure it is appropriately managed. For example, the system can combine the data dealt with once it gets integrated with the web-based system. As a result, the data can be updated and changed if needed.
5. Increase Productivity and Efficiency
EPOS systems increase the organisation, productivity, and efficiency. Since the system has a well-structured workflow, the retailer can quickly build a plan and ensure that the workflow is followed accordingly.
Which Business Types Should Implement EPOS Systems?
EPOS systems are highly recommended for retailers using a cashless payment method, especially in online stores. The system can make the exchange of money more efficient and hassle-free.
If a retailer has a small store that they could easily use in a small business, the EPOS system can be a great option. The system can help the company organise its operations, and the owner can easily manage the system itself.
EPOS can also be a good system for small- to medium-sized businesses growing and have a web-based selling system. The system can keep track of the growth of its business and can help its owners make better business decisions.
Why Are EPOS Systems the Future of the Retail Industry?
The existence of the EPOS system can indeed change the way we buy and sell goods. It can integrate with other web-based systems, such as a POS system, to provide the best experience to the consumer. It can also help small businesses grow and compete with other big retail chains, as it provides them with a more organised system and workflow.
However, suppose you have thought about implementing an EPOS system for your business. In that case, you should prioritise hiring an expert from a company that has proven its credibility in providing a quality product. Hiring an expert can assure you that your business is in good hands.
Conclusion – 5 Benefits of Switching to EPOS Transactions in Business
The future of the retail industry is indeed growing and evolving at the same pace as the business world. People are shifting their preferences to online buying and selling products, making brick-and-mortar stores adapt and provide a different type of experience for their customers.
Retailers are also shifting from using the traditional cash register to more electronic POS systems. Today, it is not surprising to see retailers using EPOS systems to help them with their operations.
The EPOS system is a computer-based system that can help retailers keep track of inventory and other data. The system can easily integrate with other web-based systems, such as a POS system. It enables the retailer’s workforce to become more productive and efficient.
Suppose you are looking for an efficient and reliable EPOS system for your business. In that case, you should look for a company that has proven competence and professionalism in its line of services. You should look at the service’s track record and customer satisfaction.
Easitill EPoS Systems provides efficient and reliable EPOS systems for retail shops. Our goal is to make transactions seamless and easy for physical and digital stores, including eCommerce website services, to help customers achieve more by doing less with their purchases. Learn more about how an EPOS system works by reaching out or booking an appointment with us today to discuss.
