
Point-of-sale (POS) systems have come a long way.
Once upon a time, retailers relied solely on simple cash registers to process in-store transactions and track sales. Then in the 1970s, electronic POS systems entered the scene, revolutionizing the retail experience by introducing digital record-keeping and more advanced sales tracking.
Over the years, these systems evolved further, becoming powerful retail management tools that integrated various features like real-time inventory management, sales analytics, and customer relationship management (CRM).
As technology continues to evolve, mobile POS systems are taking this transformation a step further. Unlike traditional POS systems that are typically anchored to one checkout counter, mobile POS systems bring the transaction process directly to the customer.
This particular feature, and others that we’ll look at later, have made these systems extremely popular. In fact, Statista reports that transaction value in the Mobile POS Payments market is expected to reach $10.86 trillion in 2024 and $23.50 trillion by 2029.
In this article, we’ll explore how mobile POS systems are changing the in-store customer shopping experience for the better and enhancing business performance for companies that have adopted them.
What is a mobile point of sale (MPOS)?
A mobile point of sale (mPOS) system is a versatile, technology-driven solution that allows retailers to process transactions on portable devices like tablets, smartphones, or any other specialized wireless device. It functions as a traditional electronic POS terminal or cash register but without the physical constraints.
This portable setup allows retail staff to process transactions, scan items, and accept payments from almost anywhere in-store, providing unmatched flexibility compared to traditional checkout systems
Key components of an mPOS
Mobile POS systems typically consist of several components:
- Mobile device: This could be a smartphone, tablet, or dedicated mPOS device.
- Payment card reader: A small machine that plugs into the mobile device and enables the mPOS system to accept various payment methods, including credit cards, debit cards, and mobile payments.
- Software: A specialized software or app from a mPOS provider that enables the processing of transactions.
- Barcode scanner and printer (optional): For added convenience, some mPOS systems also include a barcode scanner for easier product identification and a printer to print payment receipts.
- Mobile connectivity: Wi-Fi or cellular connectivity to enable secure and reliable data transmission.
How an mPOS works
The working mechanism of mPOS is quite simple.
- Product selection: The customer selects the product(s) they would like to purchase and brings them to the sales associate or calls them over.
- Product scanning: The sales associate either manually enters product details or uses a connected barcode scanner to identify each item.
- Price calculation: The mPOS software instantly calculates the total cost, including taxes and any discounts or promotions.
- Payment Processing: Customers pay using one of several supported payment options, which may include credit cards, debit cards, or digital wallets like Google Pay or Apple Pay.
- Receipt generation: After processing the payment, the mPOS generates a receipt which can be printed on a connected mobile printer or sent directly to the customer’s email in digital form.
- Data synchronization: The transaction data is then synchronized with the store’s central POS system, updating inventory levels and sales records in real time. This helps keep track of product availability and sales metrics.
Key benefits of Mobile POS systems
Implementing a mobile POS can benefit your business and your customers in multiple ways.
1. Improved customer experience
Mobile POS systems massively enhance the overall customer experience. Here’s how:
- Anywhere checkout: With mobile POS systems, sales associates are no longer confined to one single checkout counter. Instead, they can check out customers from anywhere in the store. This mobility is especially helpful for customers who need assistance with large, bulky items. Rather than having to walk to the sales counter with the item, they can complete their purchase right on the sales floor, saving time and effort.
- Personalized interaction: Because sales associates aren’t confined to a single counter, it means that they can also walk about the sales floor, providing customers with any necessary assistance including tailored recommendations.
2. Faster transaction times
Mobile POS systems speed up the checkout process, helping to eliminate one of the biggest pain points for shoppers: waiting in line. In fact, according to a survey by WaitWhile, 82% will avoid going to a business if they think there will be a line. 40% of these customers will go to a different store or stop shopping altogether to avoid lines.
Sales associates can process transactions directly on the sales floor, eliminating the need for customers to queue at a traditional checkout. This fast, on-the-spot checkout minimizes wait times and keeps the flow of foot traffic moving smoothly, particularly during peak shopping hours or special events.
Faster checkout also allows retailers to process more transactions in a shorter period, which can increase overall sales.
3. Streamlined inventory management
The best mPOS systems seamlessly integrate with your store’s inventory management system. This integration allows sales associates to access real-time inventory data directly from their mobile devices. For example, when a sales associate sees a customer is interested in a product or when a customer makes an inquiry for it on the sales floor, the associate can instantly check stock levels without needing to run to the back of the store or consult a computer terminal.
The convenience of immediate inventory information helps turn inquiries into purchases faster and prevents the risk of lost sales opportunities due to uncertainty about stock levels or having to leave the customers' side.
Additionally, when transactions are completed via mobile POS, inventory levels are automatically updated. This synchronization keeps inventory records current, enabling better stock control and reducing the likelihood of overselling, or running out of popular items. You can configure the combined mPOS and inventory management system to send you alerts when stock levels are low or even reorder supplies automatically.
Furthermore, mobile POS systems can capture detailed sales data, including product information and quantities sold. This data can be used to quickly identify trends in product demand and adjust their purchasing strategies accordingly.
4. Increased sales opportunities
Mobile POS systems empower your sales associates to offer additional products, upsell, or cross-sell directly on the sales floor as they interact with customers. Because they have product and inventory information at their fingertips, they can suggest complementary items or alternative options that might better meet a customer’s needs, thereby increasing the overall transaction value.
5. Better staff morale
Mobile POS enables staff members to work more flexibly and independently. Not being tied to one sales counter can increase job morale and satisfaction. Motivated sales associates are likely to serve customers better and give them a more satisfying experience. Satisfied customers are in turn likely to come back for repeat purchases and stay loyal to your brand.
6. Enhanced payment flexibility
With mobile POS, retailers can offer various payment options, including credit/debit cards, digital wallets, and contactless payments. This flexibility caters to customer preferences and encourages more purchases. Shoppers appreciate the convenience of using their preferred payment method, which can lead to higher transaction volumes and customer satisfaction.
7. On-the-spot customer assistance and engagement
With mobile POS devices, associates can assist customers throughout the store, answering product questions and completing transactions wherever the customer is.
This on-the-spot engagement not only boosts sales by eliminating any inconvenience but also fosters a more dynamic shopping experience. Engaged customers are more likely to make additional purchases and feel a stronger connection to the brand, which encourages repeat visits.
8. Flexibility for in-store events and promotions
Mobile POS systems allow retailers to easily set up special sales zones or temporary checkout areas for promotional events. This flexibility is ideal for in-store events, product launches, or seasonal sales, where an increase in foot traffic could otherwise overwhelm traditional registers. By strategically positioning mobile POS devices throughout the store, retailers can manage higher customer volumes and capitalize on sales during peak promotional times.
Boost sales with Cin7 POS solutions
Mobile POS systems have emerged as a game-changer for retailers, offering a host of benefits that can positively impact business operations and customer experiences and ultimately lead to more in-store sales.
If you are a retailer looking for innovative ways to stay competitive, investing in a robust mobile POS system is a strategic move that can yield substantial rewards.
But to maximize the potential of mobile POS, it's essential to select a reliable and user-friendly provider. That’s where Cin7 comes in.
Our Cin7 Core POS feature, integrated within Cin7 Core, is tailored to meet the POS needs of modern retail businesses, offering a variety of features, including:
- Seamless syncing: Keep your product catalog, stock levels, and sales orders synchronized across multiple locations for accurate inventory management.
- Customizable store settings: Tailor POS store settings to your sales process, including syncing preferences, order consolidation, and tax rate application.
- User Management: Easily invite users with specific permissions and roles, including Cashier, Manager, and Administrator, to streamline operations.
- Analytics and reporting: Access detailed reports on sales performance, product metrics, and inventory levels, enabling data-driven decision-making.
- Multiple payment options: Accept credit cards, debit cards, and digital wallets like Apple Pay and Google Pay.
- Integration with other systems: Connect multiple payment processors and hardware options, such as Square, allowing for versatile transaction processing and an improved customer experience.
- User-friendly interface: An intuitive design that makes it easy for staff to navigate and use it effectively.
- Loyalty program: Encourage customer retention with a customizable loyalty program that rewards purchases
To learn more about the Cin7 Core inventory management software including the Cin7 Core POS, schedule a free demo today.
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