With the rise of technology in store and the increased adoption by consumers, retailers now have to seriously consider the installation of electronic-point-of-sale (EPoS) tools.

Such innovative technologies and solutions promise to deliver a mass of benefits to both the retailer and customer in the form of improving customer services and experiences, while optimising business processes and cutting costs from the store to head office.

Self-service and automation play a key part in the technology being used to transform the retail environment into one more fitting with modern society today. Three aspects of store management are particularly common such as providing customers with check out options that are more suited to the way they shop, automating cash management while it is more in use than cashless payments, and enhancing the customer experience through tools that offer convenience and reinforce the chance of making a sale.

Let’s take a closer look:

1.     The right check out

The ideal check out is one that accommodates all its consumer types, and simply mixes it up a little. Unless you have a very specific shopper profile the chances are you’ll need to cater for the trolley pushers vs the basket carriers; the tech savvy vs the traditional character; the leisurely vs the in a hurry customer and so on. The ultimate aim is to satisfy the customer by providing an element of choice as well as faster service while also reducing your running costs.

Enter self-service systems that can help to tick all of these boxes, and which are more frequently being seen at convenience, supermarket, DIY and department stores. The main technology based services to be trialled are self-checkouts, mobile self-scanning, and the scanning lanes. The likelihood is that in the not too distant future most retail stores will be offering a mix of the traditional serviced lanes complemented by self-scanning terminals and mobile self-scanning tools.

Self-service EPoS won’t necessarily be appropriate for every store, while running and installation costs may also be a concern to some of the retailers who want to opt in to this market. In such cases when reviewing the need for self-service in store and whether it will be a successful roll-out, retailers are advised to consider several aspects:

• the average basket size per customer.
• the average number of transactions per customer.
• the frequency a customer makes a cashless payment.
• the demographic and social profile of your customers.
• the sales area and whether there is simply enough space.
• the range of product sold in store and whether it is feasibly possible to use self-service.

2.     Cash automation

Despite the rise in cashless payment options through contactless cards and mobile device apps, many people in the world still rate cash payments in favour of the alternatives. As a result retailers of departments stores, convenience stores and even post offices are finding themselves spending more than they would like on cash management. Added to this is the concern surrounding the time spent processing the cash payments, the risk of error at the till point and back office, and the potential chance of theft through robbery or staff.

This is where the preference of automating cash transactions and management comes in for retailers. The main tools on the market include the automatic issuing of coins and notes at the checkout and secure provisioning and disposal in the back office, as well as the self-service payment kiosk which is able to process notes, coins, coupons and payment cards automatically and issue change.

Logistics and compliancy are key factors when considering such technology and retailers are advised to:

• ensure modules comply with the exacting security, reliability, speed and ergonomic standards of the banking industry.
• opt for a system that offers software management for all processes from the store to head office.
• choose a platform product that can communicate with all existing EPoS store solutions.
  

3.     Customer experience

Technology in store is widely being adopted to enhance the customer shopping experience. It seamlessly guides the consumer around the store from entrance to check out, encouraging additional purchases and creating new revenues for the retailer.

Known as customer facing technology, tools such as kiosks, electronic display screens and interactive applications are able to support the customer on their journey around the shop floor, providing added service. The retailer can control the content through content management systems that link to all devices.

Retailers looking to invest in such devices can choose from:

• kiosk systems that give the customer access to a full product catalogue and can be used as an order or reservation point, loyalty and help point, or perhaps a payment and collection point.
• mobile shopping assistants can introduce customers to special offers and guide them around the store.
• electronic displays such as shelf labels and digital signs can entertain a customer as they shop or queue and also cross promote store products and services.

The investment of time and capital that goes into rolling out new technology in store is not to be dismissed easily and researching the right systems for your business before hand is highly encouraged. With this said, the advantages of introducing technology-based services in store are frequently seen to top any concerns; the benefits that support both the retailer and consumer in turn include:

• Retailers can cut process and employee costs by using technology in place of staff where appropriate.
• Retailers can enable store staff to spend more time on other tasks like customer service and improve their service skills by complementing them with the tools at hand.
• Customers have the convenience of additional service by the kiosks that enable them to make educated decisions as to whether they buy or not, and also by providing an alternative route to making the sale.
• Customers can choose how they wish to shop in store and opt for a quick, private shop or a more leisurely paced, interactive one.

Looking to invest in technology for your retail store? Click here to get a free quote for an EPoS system.

Source: Wincor Nixdorf