July 14, 2024 3:06 pm

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July 14, 2024 3:06 pm

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POS Technology Helps Brick ‘n’ Mortar Retailers Compete

Competing with big box stores can be challenging for a small, independent retailer, but technology can be a great tool to help level out the playing field. Small businesses need to be dedicated to learning and implementing new technologies that can help them streamline their operations, manage inventory, and build strong relationships with their customers. At the heart of every retail walk-in business is the checkout counter, where customers line up, conversations happen, and transactions close on the point-of-sale system. You can earn high commissions and build a successful, long-term revenue stream by selling retail checkout solutions, including point of sale, credit card processing, business cash advances, and more. National Retail Solutions (NRS) offers resellers a broad, robust opportunity.

The point-of-sale system tallies items and – with or without an integrated credit card reader that helps complete payment. Modern point-of-sale systems offer software that greatly transcends a primary cash register and credit card processor. These systems help merchants manage inventory, track sales, and even provide insights into customer behavior. The POS can also offer data analytics, loyalty programs, vendor management, e-commerce, advertising, a panic alarm button, and other features that can be beneficial for saving time and earning money.

Inventory Management

When using an inventory management system, merchants can easily track their inventory automatically without manually inputting data, which can be time-consuming and error-prone. This allows a store owner to make informed decisions about purchasing and restocking products, ultimately improving overall business efficiency and profitability. Inventory management systems can also help prevent overstocking or stockouts, reducing the risk of lost sales or excess inventory costs. The POS can be set up to alert the store owner when inventory runs low. Keeping inventory fresh will help retain customers and attract new ones.

Loyalty Programs

A POS system can also help merchants create customized loyalty programs, rewards, and discounts. Merchants should consider using a loyalty program since over 60% of loyalty programs make most shoppers more loyal to a brand. Implementing a loyalty program is proven to increase customer retention and repeat purchases, ultimately resulting in higher revenue for the merchant.

E-commerce

If merchants also want to reach more customers, they can utilize their e-commerce platform linked with their POS system, complete with linked websites and inventory listings, for a nominal monthly cost. This can help merchants expand their businesses and increase sales by providing customers a convenient online shopping experience. It also allows them to compete with larger retailers with established e-commerce platforms. About 70% of Americans are shopping online. In 2022 alone, there were 268 million digital buyers in the United States, and by 2025. This trend is expected to continue growing as more consumers prefer the convenience of shopping online. Businesses that need to establish an online presence risk losing a significant portion of their potential customer base. Alongside e-commerce is the delivery component. Customers have gotten used to shopping online without having to leave their homes. Offering delivery service, especially same-day or next-hour, goes hand in hand with an ordering website. Retailers can explore partnering with home delivery relationships with platforms such as Uber and Doordash. This can get expensive for a smaller business that is watching every dollar closely. However, a way to add e-commerce and delivery without high costs would be to leverage a point-of-sale system’s Premium Features. The National Retail Solutions POS has an add-on e-commerce service that offers retailers an ordering website linked with the POS pricebook, plus options for customer delivery service and online profile and reviews management.

Age-Verification

Another significant feature of modern POS systems is ID scanning technology. When store patrons wish to buy age-restricted items like alcohol or cigarettes, ID scanning can help merchants verify the age of their customers. This can help merchants comply with local laws and regulations and avoid penalties or fines. ID scanning can also help merchants prevent fraud and protect their business from financial losses by ensuring the ID is legitimate and belongs to the purchaser.

Advertising Promotions

Some POS systems allow merchants to run eye-level ads on the customer-facing screen. As customers check out, merchants can leverage point-of-sale customer-facing displays to market products and offer promotions, creating an interactive checkout experience that complements loyalty programs.

Technology Extras

POS systems provide peace of mind by tracking staff hours electronically. This makes it easier for a store owner to know who was on shift and when based on when they logged in and out. User tracking and employee time clock features can make payroll easier. Merchants will be able to readily determine when employee hours should be raised or decreased, as well as have a deterrent against theft. Another theft deterrent feature is POS-DVR camera integration, wherein transaction data is overlaid in real-time onto the store’s DVR footage. This enables store owners to review and reconcile recorded data from any given date or time.  A few POS even have a built-in panic alarm button. This further helps keep staff and customers safe. Panic buttons are silent and don’t inform the perpetrator when the panic button has been activated. Given today’s atmosphere of rising crime, especially in urban metropolitan areas, panic buttons are critical. At a merchant’s fingertips, this technology may make the difference between disaster and arrest.

A Hot Reseller Opportunity

Competition in independent retail stores is fierce. To survive and thrive, small and midsize store owners need help from technology that rivals that utilized by big-box retailers. A powerful point-of-sale system can bring in revenue and generate repeat consumers. When technology is fully employed, a small mom-and-pop store can effectively compete with larger chain operations.

This opens up a phenomenal opportunity for resellers to leverage their existing network of clients to sell NRS products and services, which yield top commissions plus residual income. For information about joining the National Retail Solutions Channel Sales Team, visit sellnrs.com or call (888) 870-0017.

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