Those big, clunky, old fashioned cash registers used in retail stores for years are getting a major upgrade. New POS (Point of Sale) systems are revolutionising the customer experience and increasing sales for businesses. The newest POS systems are tablets that are being used to display options, upsell products and services, and securely process credit card payments too. No need to print a receipt, the purchaser can opt to have their receipt emailed or texted to them. That functionality then allows customers to opt into email or SMS text messaging from the business, allowing for permissioned based marketing in the future.
Multi-Tasking Innovation
The restaurant industry is one that is widely adopting table top POS systems which have multiple functionalities including ordering, asking for drink refills, games, and music. All the while, appetizing images are flashing across the screen letting diners know what other tempting offers they could be trying. Lastly, when the meal is complete and it’s time to leave, no need to wait for the server to bring the check. Patrons can pay via the table top POS system with their credit card. It even offers tip % calculations that the guest can choose by pushing the button.
Better Service, Larger Tips, Higher Revenue
Restaurant chains have adopted this new table top tablet technology as a means to improve customer service, not to replace servers or take away jobs. If waiters and waitresses felt threatened by the device taking over their job, it’s quite the contrary, these devices help them do their job more efficiently and yield larger tips on average with the suggest-a-tip function in place. The increased tips can also be attributed to larger check sizes, which mean increases in sales for the restaurants implementing this new technology. The high definition images of specialty drinks, appetizers, and desserts give sales a clear boost.
Table Top Restaurant POS Case Study: Genghis Grill
U.S. based restaurant chain Genghis Grill participated in a study with the following results after installing table top POS systems for 18 months, according to HospitalityTechnology.edgl.com.
- 90% to 95% of customers are paying at the table and enjoying the faster service and improved speed.
- Loyalty program sign ups increased 60%
- Sales increased up to 27%
- Set a sales goal of 30% increase as a result of upselling.
DIY POS Systems Growing in Popularity with Retailers
These types of do-it-yourself POS systems are not only becoming popular in restaurants. May different retailers are exploring the possibilities with tablet type check out terminals that also allow customers to shop online and order directly from the tablet. This beats the show rooming phenomenon by capturing the online sales for the retail establishment themselves. This option is even scalable and affordable for small businesses. It helps to even the playing field and small businesses can compete with big box retailers on service, price, and convenience. Small businesses can capture leads and consumer data when customers use these in-store devices and opt-in to marketing programs or choose to receive specials and discounts, or join a loyalty program. Small businesses will find it refreshing that they don’t need a giant infrastructure or expensive hardware and software to be able to take advantage of this innovative advance in point of sale transacting.
Increasing Awareness, Growing Demand
Both consumers and merchants are becoming aware of the benefits of these POS platforms and are looking for them. Many consumers prefer to shop in places that offer innovative payment options. HospitalityTechnology.edgl.com also reported on the increase in demand:
- 5 out of 7 capabilities increased in interest over the last two years.
- Online ordering is the #1 choice for the 2nd year running.
- More than half (51.2%) of all restaurant operators that took part in the survey said that POS platform is the feature they would want most.
- Interest in mobile phones for ordering and payment is also on the rise with over 48% of restaurant operators adding it to POS shopping lists.
- Cloud computing was the area of most interest in the restaurant survey.
The following is an infographic from HospitalityTechnology.edgl.com that shows what businesses had in plan for 2013.
As you can see, almost half planned on adding new functionality, features, and/or modules if their already had POS software. This shows that it is working for those companies who employ the technology since they are adding and upgrading features.
On the flip side, this infographic shows what consumers are looking for in their shopping experience.
Of notable interest from these statistics is that over 50% of consumers are looking for an online POS for ordering online. Almost 50% of consumers surveyed would like to shop with businesses that offer mobile phone-based POS (mobile phone or virtual wallet ordering). Over 40% said they would like table side POS systems. All of those areas experienced significant growth from the year prior.
Takeaways for Your Business
If your business has not yet adopted advanced technologies for in store self-pay, checkout, and POS systems, it is time to start exploring your options. The studies show that not only is your competition adopting this technology and experiencing positive benefits from it, but consumers are looking for it, prefer it, and soon will be demanding it. Embrace the technology and explore how your company can benefit from the advancements in technology and increased sales and service options that come along with it.
