Mobile technology is recognised as being the most rapidly adopted consumer technology in history. Its impact is nothing short of revolutionary, generating a radical change in the way we work, play, communicate, connect and research. The economic landscape is also impacted – with mobile not only an industry in itself, but a transformational force on a wide range of commercial operations. Not least of which is retail. Mobile is transforming the way we shop and the way in which retailers run their businesses.
In my last article, I explored the way in which mobile POS technology transforms the shopping experience for consumers, making it faster, more convenient, and better informed. If you missed that discussion, you can read it here
This time, I want to turn the tables and look at mPOS from the retailers’ point of view – specifically how it can help them to run their business more efficiently. There are five ways in which implementing mobile POS can help retailers drive down costs and maximise the return on their staff and resources.
Efficiencies from flexible store configuration
Mobile POS gives retailers the flexibility to be able to add extra checkouts rapidly at busy time and when queues start to lengthen. Fixed lanes are just that – fixed, and inflexible. Most stores plan their total number of checkouts based on busy times, meaning that many are unused for a large part of the trading day. With mPOS, retailers have the option to reduce the number of fixed point of sale terminals, and simply use mPOS terminals to increase the number of lanes at busy time, driving far greater efficiency from their resources.
Cost savings from multi-functional devices
Mobile POS terminals typically cost less than their fixed equivalents, saving on hardware expenditure. But they can also be multi-functional, used for jobs other than checkout, such as endless-aisle inventory checking and stock-take, offering further opportunities to reduce expenditure.
More efficient use of floor space – more $ per M2
Fixed POS lanes are not only relatively costly, but they take up a large amount of floor space. If they are replaced with mPOS, that valuable space can be used far more efficiently for merchandising, increasing the store’s revenue per square metre.
Fast and easy Pop-ups
More and more retailers are recognising the value of taking their product to customers, rather than waiting for customers to come to them. Pop-up stores, especially with seasonal offers, offer significant opportunities for increased sales. But before the advent of mPOS, the time and effort to set them up made them a far less feasible option. Mobile POS, with its ‘transact anywhere’ capability makes setting up a Pop-up store swift and relatively easy.
Staff productivity from greater engagement
Great retail staff want nothing more than to engage with customers, to understand their needs and provide information about the goods they want. They enjoy finding opportunities to upsell and cross-sell, but they can only do this if they have information readily to hand. Mobile POS gives them this information – they have it readily to hand, the new staff have the same level of information as those who’ve been with you for years, dramatically increasing productivity.
iVend mobile is a full function Mobile POS App, providing access to all core point of sale and customer service functionality to help you achieve these efficiencies.
To learn more, download iVend’s Whitepaper, MOBILE INNOVATION – Reinvigorating the store’s value