fusion point research Marketing Research Reports

Marketing to Point-of-Sale System Leaders in Retail

Understanding Their Role

Point-of-sale, or POS, systems are the technologies used in processing transactions including the cash drawer, bar code scanner, receipt printer, credit card reader, etc. Traditionally POS systems are large, wired terminals, but new mobile and cloud technologies are changing the POS landscape. It is imperative to choose the right POS system for the company’s goals.1

 

POS systems range from very simple to very complex and the costs also vary widely. Some solutions are better for large companies and others are more suited to small, independent stores. Depending on the company’s needs, POS systems can offer any, or all, of the following benefits:

 

  • Time clock2
  • Inventory tracking3
  • Self-service checkout4
  • Credit and debit card payments/verification5
  • Detailed receipts6
  • Sales compilation by day, product, cashier7
  • Portability with tables and smartphones8
  • Faster checkout times9
  • Accurate pricing10

 

Determining the company’s needs based on the type of product sold, the size of the store, the volume of transactions, and their growth plan all factor in when choosing the most effective POS system.

“We are not going to rest until we understand what happened and how that happened….”

- Gregg Steinhafel, CEO of Target, regarding a security breach. 11

1  “Which System Is Right For You?” StateWays 43, no. 5 (2013): 33. EBSCOhost(90500537).

2 Konrad, Alex. “As Starbucks Bleeds Square, Can Startups Working With Retail Registers Make Any Real Money?.” Forbes.com, 2014, 4. EBSCOhost(95766869).

3 Ibid.

4 Bodhani, Aasha. “TURN ON, LOG IN, CHECKOUT.” Engineering & Technology (17509637) 8, no. 3 (2013): 60 – 63. EBSCOhost(86220278).

5 Berman, Barry, and Joel R. Evans. Retail Management: A Strategic Approach 12th Ed. Chapter 13. Edited by Pearson Education, Inc., Prentice Hall., 2013.

6 Ibid.

7 Ibid.

8 Bodhani, Aasha. “TURN ON, LOG IN, CHECKOUT.”

9 Berman, Barry, and Joel R. Evans. Retail Management: A Strategic Approach 12th Ed.

10 Ibid.11 Quick, Becky. “Target CEO defends 4-day wait to disclose massive data hack.” 2014. CNBC. Available at: www.cnbc.com/2014/01/12/target-ceo-defends-4-day-w...

 

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Retailers use POS systems to conduct customer transactions. Beyond processing the sale, though, the POS systems integrate much deeper into the retailer’s operations and perform other critical tasks such as inventory tracking and time management.