More Related Content More from Software Advice (20) Three Emerging Retail POS Technologies That Will Benefit Retailers2. CONFIDENTIAL AND PROPRIETARY
© 2017 Gartner, Inc. and/or its affiliates. All rights reserved. 2
Here’s what we’ll cover:
● Technology #1: Mobile POS
● Technology #2: Loyalty Management Systems
● Technology #3: Digital Wallets
● Takeaways and Next Steps
According to Gartner’s Hype Cycle for Retail
Technologies, 20161
(content is available to Gartner
clients), these technologies will become mainstream in
less than two years.
This presentation helps SMBs understand key retail trends and how new POS
technologies can help them embrace mobile devices and digital payments.
Introduction
3. CONFIDENTIAL AND PROPRIETARY
© 2017 Gartner, Inc. and/or its affiliates. All rights reserved. 3
Real life use cases:
● A fashion retailer in London experienced a 40 percent YOY growth
after deploying mobile POS system in its store. Also, a customer
facing display app helped them capture customer data.4
● An eye wear retailer opened five stores across Australia with the help
of a mobile POS software to manage sales, inventory and reporting.5
Technology #1: Mobile POS
Mobile POS systems integrate with mobile devices such as tablets and smartphones to
scan products and process payments. They’re also useful for small retailers2
with limited
floor space, as they reduce the need for a dedicated cash register.
Benefits of Mobile POS for Small Retailers
● Manage multiple stores and engage with customers in a better way
● Improve sales and data security
4. CONFIDENTIAL AND PROPRIETARY
© 2017 Gartner, Inc. and/or its affiliates. All rights reserved. 4
Real life use cases:
● A small crafts retailer in the U.S. that deployed a customer loyalty
program7
had nearly 20,000 customers sign up for the program.
● The retailer can now identify the most valuable buyers and reach out
to them to promote sales events, trade shows and new merchandise.
Technology #2: Loyalty Management Systems
Loyalty management systems enable retailers to reward and interact with customers
through a centralized system that tracks loyalty points, discounts and gift vouchers.
Benefits of Mobile POS for Small Retailers
● Increase sales by building and maintaining ongoing relationships6
with loyal
customers
● Appeal to millennials
● Understand customers’ buying patterns to offer them personalized deals
5. CONFIDENTIAL AND PROPRIETARY
© 2017 Gartner, Inc. and/or its affiliates. All rights reserved. 5
Real life use cases:
● After introducing Apple Pay, a U.S.-based super market saw a 400
percent increase in mobile payments.10
● A bakery-cafe’s 80 percent transactions are derived from mobile
transactions.10
Technology #3: Digital Wallets
A digital wallet solution securely stores a person’s credentials, such as bank account
details, identification cards, loyalty programs and payment cards. Customers can use it
in a retail store through their mobile devices.
Benefits of Digital Wallets for Retailers
● Faster and more efficient process to complete the transaction
● Simplified buying process by securely storing customer's payment card
information on the server
● Increased sales as a result of streamlined buying process of overall transaction
6. CONFIDENTIAL AND PROPRIETARY
© 2017 Gartner, Inc. and/or its affiliates. All rights reserved. 6
Takeaways and Next Steps
Here are some next steps to keep in mind while choosing a retail POS system for your business :
● Read the full report here:
http://www.softwareadvice.com/resources/emerging-retail-pos-technologies-and-benefits/
● Check out our Retail POS Software Buyer’s Guide to see what the latest market trends are in retail
software for small businesses: http://www.softwareadvice.com/retail/#buyers-guide
● You can also read user reviews of top Retail POS software to see how other customers feel about
different vendors: http://www.softwareadvice.com/retail/
7. CONFIDENTIAL AND PROPRIETARY
© 2017 Gartner, Inc. and/or its affiliates. All rights reserved. 7
1. “Hype Cycle for Retail Technologies, 2016” - https://www.gartner.com/document/3375417
2. “NFC Payment Guide: Are You Prepared for Mobile Payments?” - http://www.softwareadvice.com/resources/mobile-nfc-payment-guide/
3. “84% of retailers to use mobile POS within 3 years” -
http://www.fierceretail.com/technology/84-retailers-to-use-mobile-pos-within-3-years
4. “Number Six uses Vend to achieve 40% YOY retail growth.” - https://www.vendhq.com/en/customers/number-six
5. “Dresden uses Vend to power super-fast growth: 5 new stores in 18 months.” - https://www.vendhq.com/en/customers/dresden
6. “Building Customer Loyalty That’s Embedded in Brand Trust” -
http://www.softwareadvice.com/resources/building-customer-loyalty-for-small-retailers/
7. “Why Loyalty Programs are Essential for Every Retailer” - https://www.bloyal.com/loyalty-programs-essential-for-every-retailer/
8. “Nearly 1 in 4 Small Businesses Have a Customer Loyalty Program” -
http://blog.biakelsey.com/index.php/2017/01/25/nearly-1-in-4-small-businesses-have-a-customer-loyalty-program/
9. “Gartner Says By 2018, 50 Percent of Consumers in Mature Markets Will Use Smartphones or Wearables for Mobile Payments” -
http://www.gartner.com/newsroom/id/3178217
10. “How Apple Pay and mobile wallets will transform shopping” -
https://www.marketingweek.com/2015/07/14/how-apple-pay-and-mobile-wallets-will-transform-shopping/
References