POS System for Retail: 3 Important Features You Need
Running a retail store is no simple task. There are tons of moving pieces.
And when you’re managing a small business, it can be difficult to keep tabs on every aspect — which is why you need the best business tools on the market to help you streamline operations.
One of the easiest ways to do that? Find the perfect point of sale (POS) system.
If you’re ready to make the move to a modern POS system for retail stores, look for these three must-have features:
- Inventory management
- Online ordering
- Customer loyalty programs
Let’s break down each feature.
From hardware stores to clothing boutiques, retail store owners understand the importance of inventory management — and of finding the right tools to streamline business operations. A modern point of sale system does just that.
Look for a POS system for retail that allows you to easily import a list of products or add them to your inventory by scanning their barcodes. Then you should have the ability to edit information like category, description, price, and tax rate. You should also be able to create purchase orders to vendors directly from your system, based on low stock items or previous sales periods. If you set a reorder level, your retail POS will automatically reorder once your inventory slips below that number — and when you receive your items, inventory numbers will update immediately.
For retail stores, it’s also important to choose a cloud-based POS solution that lets you add your inventory and access other management features from a mobile device, like a smartphone or tablet, from anywhere you have access to the internet — which makes multi-store management a breeze, too.
To keep up with customer demand, make sure your POS system for retail gives your customers the opportunity to order items via the internet. Choose a point of sale system that has an e-commerce integration, so you can set up shop online — which can increase sales by allowing buyers to purchase items outside of your physical location and store hours.
Depending on your business’ needs, you can integrate with big name platforms like Shopify, or create a customized website with your branding. Give your customers the option to have their order delivered or scheduled for in-store pickup. If you choose not to integrate with delivery platforms, you can hide the option for delivery so that buyers must come in-store to receive their purchase.
Offering an omnichannel shopping experience is a must in the world of modern retail, and a POS system allows you to set up your webstore with ease. Plus, in addition to providing more opportunities for sales, online ordering helps you keep track of customer contact information, so you can maximize your marketing efforts.
Retail Customer Loyalty Programs
The best customer is a repeat customer. In fact, increasing customer retention by as little as five percent can boost profits by up to 95 percent — so it’s important to find a point of sale system with solid customer loyalty features like a points-based rewards program.
This feature assigns a point value to each dollar a buyer spends, which can be redeemed for discounts on future purchases. For example, you might offer a $10 discount for every 1,000 points earned, or a 20 percent coupon for every 5,000 points. This encourages customers to return to your store, and helps you build the relationships that become the foundation of your business.
And remember: In order to give proper store credit, customers have to give you their contact information. Use this to your advantage when it comes to marketing by sending promotional emails and text messages.
Get Started With the Right POS System for Retail Stores
Choosing the right point of sale system for your retail store might seem like an impossible task — but it doesn’t have to be.
While there are tons of options on the market, not all of them will be the right fit for your business.
So how do you find the perfect POS? Start by scheduling a demo with one of our Comcash specialists, and we’ll show you why our solution is the best in the business. Or if you already know what you’re looking for, use our build and price tool to create your own custom quote.