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Mobile POS — also called mPOS — is taking off. Research by IHL Group found that the overall installed base of mPOS devices rose 24.9 percent in 2017. That’s largely due to enterprise retailers catching on to what small and medium-sized business (SMB) retailers have already discovered: mPOS systems can be a game-changer in delivering a standout customer experience.
Today, mPOS applications in small businesses largely focus on replacing traditional, fixed POS units with next-gen mobile payment solutions. In the enterprise retail space, it’s proving an ideal way to supplement fixed-position POS by bringing mobile POS solutions to the customer. In fact, according to IHS, enterprise retailers adopting mobile POS are seeing sales growth 42 percent higher than those that do not use mPOS. The affordability of tablets like the Samsung Galaxy Tab S4 and smartphones like the Samsung J8 makes it easy for SMBs to capitalize on this level of growth.
The truth is, mPOS systems are a great fit for retailers of all sizes, because of their ability to flip the script. Instead of consumers approaching a counter and waiting in line for the retailer’s staff to serve them, mPOS can make it all about the customer. That ties right into consumers’ desire for more personalized, exceptional shopping experiences — especially for millennials. According to the National Retail Federation, “customers are most satisfied with technologies that streamline the store experience, from checking out to finding and picking up the items they need.” With over half citing mobile payment as one of these technologies.
Retailers who want to run mPOS and other applications from one versatile mobile device will appreciate the Galaxy Note9, which puts the power of a laptop in a retail-friendly form factor.
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Some of the most effective uses for mPOS include:
To optimize their chances of success, IHL and Stratix recommend retailers keep these strategies in mind:
Mobile POS is the future of retail. While IHL Group found retail leaders are 150 percent more likely to be using mPOS than others, this technology truly levels the playing field. Streamlined, low-cost tablets and smartphones are well within the budgets of even the smallest retailer. That means SMB retailers can bring the power of mPOS wherever their customers want to be, creating the personalized brand experience that keeps customers coming back.
Technology is helping retailers change how consumers interact with businesses on a daily basis. Get a deeper look at innovations influencing this change.