The new normal for retail is changing. As an example, more shoppers nowadays begin their product search online, nine times out of 10 before they head to the store. The purpose of the store is in flux. It’s not a matter of if, it’s a matter of when. The story of the industry is changing, so how do we make ourselves leaders at the forefront of that change? The opportunity for Intel begins with traditional point of sale then moves to multiple types of transaction devices: mobile, self-service, automated, kiosk, cash-wrap, and more. The future is unified commerce.
We tested this information with leading retailers and had decision-makers weigh in. They agree it makes sense, as well as a compelling argument for change. Here are a few things to consider so you can find yourself on the right side of history:
It’s a challenge to tackle a technology upgrade on top of the training that goes along with it. Don’t be left behind. If you wait to begin updating and expanding the POS options in your store over a seven- or eight-year cycle, you’ll be too far behind the curve to catch up. The industry is changing now, and it’s your responsibility to change with it. Retailers must decide what type of store they want to be and pursue new systems that drive them toward that goal.
A Boston Retail Partners survey shows 63 percent of respondents plan to increase their use of handheld devices and 57 percent expect the same with tablets. Self-service checkout and kiosks are growing, too. The worldwide market for self-service technology is expected to grow nearly 14 percent by 2020. Your customers are now accustomed to a certain retail experience (one that is both convenient and customized to them); deliver it using different methods. This can lead to higher BIN POS and higher dollars per SKU sales.
Extending your reach to service customers outside the checkout line can be extremely beneficial, especially with smartphone payments growing more common worldwide. As you go mobile in your POS, Intel vPro technology can not only aid multi-device remote management, it can improve device security greatly. This will allow you to (securely) remotely oversee devices, enabling a better customer experience with consistent brand infrastructure. There are over 800 weekly malware attacks on retail enterprises worldwide, so it’s time for you to enjoy the peace of mind Intel-powered security delivers.
POS in the IoT
Change can be intimidating, but new methods of POS offer efficiency-building, lucrative advantages that make the process less daunting. A unified commerce solution to new POS devices collects information that will help leadership with strategic decisions. As data is collected from the POS system, it travels back to a data center that collates transaction log data, customer data, product attribute data, social data, and more to create an architecture to help you become an IoT store of the future.
Winning begins with POS. Learn more about our retail solutions and advancements in POS so you can extend them into a unified store architecture and come out on top.