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How POS Technology has Enhanced the Retail Industry

By CIOReview | Friday, December 13, 2019

POS technologies have developed immensely and have become more affordable retailers are having more chances to generate a smart retail environment.

FREMONT, CA: Over the years, Point of Sale (POS) functionality has become extremely popular. With the advancing technology, the consumers have also started to expect enhanced service, and that too, in real-time from their preferred stores. There is no doubt that retail has entered into a new era. Moreover, as per a recent survey of the sale industry report, the POS terminals market value is estimated to reach $98.27 billion by 2022, which is the compound annual growth rate (CAGR) of 13.5 per cent. Below given are a few of the latest development in POS technology that every retail industry must watch out for.

Cash and cash registers are quickly becoming a part of history because of the increasingly digital age and new technology. Nowadays, customers have more choices than ever before, and all of these offer several advantages by not using cash. Cashless payments offer speed, expediency, definite payment for merchants, along with security and transparency for the consumers and retailers.Top Retail Solution Companies

The most unique benefit of using a cloud-based POS solution is that the retailers can easily access their data and upgrade their software in the entire store at the same time. Most of the stores can be updated and also improved in just a few minutes, and it makes the business easier and flexible for retailers. Since cloud POS is obtainable as a service, many latest features can also be constructed and released by the supplier rapidly than it was ever possible with a client-server POS.

However, the capabilities of POS are not limited to an enhanced understanding of the financial works of the business. Retailers can also use the individual CRM dashboards that will assist them in dividing marketing and coordinate sales and promotions based on their interests and shopping habits.

Check out: Top POS Solution Companies

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