Retail point of sale software helps to drive customer loyalty, retention
January 18, 2013
For retailers, putting a focus on creating satisfying shopping experiences and efficient transactionsis one of the most vital elements of operations. Failing to develop exceptional experiences and provide consumers with the products and services they are looking for can result in declines in loyalty and retention, as well as revenues. To avoid these types of situations, businesses are constantly looking for ways to improve their customer care methods and make their transactions faster and more efficient. One strategy that is working for companies is the adoption of retail and point of sale technology, as these systems give businesses the ability to manage a variety of operational aspects, such as sales, inventory management and report production. In addition, these solutions assurethat companies are compliant with Canadian point of sale legislation.
Lack of cross-channel retail technology can result in customer loss
According to Synqera, businesses that fail to adopt cross-channel technology for retail operations can actually lose out on business, as customer satisfaction suffers from inefficient processes and transactions. The marketing firm looked at companies that have implemented multichannel solutions for a variety of purposes, including marketing, communications and loyalty programs. One aspect analyzed was the use of cross-channel point of sale software by retailers, and firms that lack any kind of technology run the risk of seeing decreases in retention, as resources are not leveraged effectively to provide excellent experiences to shoppers.
"Using cross-channel technology allows brands to integrate their activities and is a safe route for ensuring maximum return on investment," said Kirill Gorynya, Synqera CEO. "Many retailers have access to useful customer data regarding shopping habits and choices, and using this to target them via emails, mobile technology and even in-store advertising will be sure to lead to success."
Using retail point of sale technology for customer centricity
In the past, retail point of sale software systems focused mainly on processing payment transactions and producing reports related to sales. While they still perform these functions, more updated solutions now also give businesses more insight into their customers' behaviors. Retail Info Systems News writes that 2013 is set to be the year that these technological tools serve as effective resources for enhancing shoppers' experiences. This will be accomplished through the acceptance of mobile payments, collection of consumer data and faster transaction processing times, resulting in higher customer satisfaction.