Do small retail shops really need a point of sale system? Before concluding that a point of sale (POS) system is not necessary or is out of your budget, consider how it can help reduce costs and achieve the goals you have for your business.
What is a POS System?
A point of sale system isn’t just a buzzword. Most simply, it’s the system used to process sales. POS systems can include a computer or tablet, retail POS software and payment terminal. It can also include hardware such as a cash drawer, bar code scanner and receipt printer. Beyond tracking sales and accepting payments, a point of sale system is your store’s hub for information on sales, inventory and customer information.
Do I need a POS System for my business?
When considering a POS system, take a step back to evaluate the goals you have for your store. Ask yourself what problems you face. These may be small day-to-day inconveniences or long-term issues – they all add up! Next, think about opportunities to grow your business. If you have some ideas, but aren’t sure how to make those a reality, a POS system can help. Retail isn’t easy. To stay competitive and grow, a point of sale system can be a key tool. Just be sure to find one that best fits the needs for your unique retail store.
POS for C-Stores
Convenience stores are a vital part of every neighborhood. Customers expect quick service and a wide range of everyday items. As a convenience store operator, you may also face the challenge of saving time on new employee training and deterring product theft. A point of sale system can help overcome some common obstacles while meeting the needs of your customers. Some features to look for in a POS system for your convenience store include:
Integrated payment processing not only speeds up checkout, but also ensures payments are secure while eliminating loss from discrepancies between the till and payment terminal
Real-time inventory tracking gives you the information you need to have the most profitable and popular products stocked for your customers. Inventory tracking also helps identify patterns in product loss to set up systems to deter theft.
Intuitive design makes a point of sale system easy to understand and operate, and employee training quick and easy. For added ease, look for solutions that include in-program help guides and online training videos.
POS for Health Food Stores
Health food stores are a destination for shoppers looking for natural or specialized products and supplements, and expert health and nutrition advice. Understanding sales trends and keeping shelves well-stocked while avoiding spoilage are common issues for health and natural food store owners. When researching point of sale systems, look for solutions with the features that help your health food store stay competitive:
Advanced inventory management takes the guesswork out of creating purchase orders, so you have just the right number of products in stock when customers are ready to buy, but also don’t lose money with excess stock and spoilage.
Product performance reports highlight sales by department and category to better evaluate and monitor customer trends and preferences.
User-friendly promotion tools give you the flexibility to set up sales events in advance so that you and your employees can focus more on helping customers rather than calculating discounts.
POS for Specialty Retail
Specialty retail shops offer a variety of products in a niche category. Customers consider you the expert in your industry and expect outstanding customer service. To stay competitive, the products you carry not only have to fit the market you serve, but also be priced right. A point of sale system can give you the tools to be profitable in your specialty retail store. Some key features to look for include:
Reliable customer management tracks customer contact details and product purchases. With meaningful knowledge at your fingertips, you and your employees can provide a personalized shopping experience.
Mobile POS means that you can serve customers anywhere in your store, or out in the community. Look up product information or make sales wherever your customers take you.
Pricing calculation tools consider the product’s cost, and your target margin goals to set prices that are competitive and profitable.
Retail isn’t easy, but a point of sale system can help your store run efficiently today and grow for the future. Find a solution that works best for your retail store, is within your budget, and offers outstanding technical support when you need it.
Do you have more questions about how a point of sale system can make a difference for your retail business? Contact us today to learn more about ClearTEQ POS.