Point-of-sale (POS) systems have evolved far beyond simply processing transactions at brick-and-mortar retailers, according to a trends report from Shopify.
As a business scales, it often struggles to meet consumer expectations for omnichannel shopping experiences. Tracking and managing inventory across e-commerce and physical locations can lead to challenges that quickly mount up. Left unchecked, these issues can even impact a brand’s reputation.
Retailers are increasingly looking for POS systems that can unify all aspects of their business into a single, cohesive solution.
“Enterprise retailers tend to value flexibility and extensibility above all other features in a POS platform—every retailer has their unique spin or ‘secret sauce’ that makes their business stand out from competitors and the POS needs to accommodate that,” said Don Apgar, Director of Merchant Payments at Javelin Strategy & Research.
Omnichannel Driver
An enterprise point-of-sale system provides a unified approach that connects sales, loyalty programs, and inventory across multiple channels. Serving as a central hub—facilitated by APIs—an enterprise POS offers retailers a 360-degree view of their operations.
This broader scope is essential for businesses aiming to integrate omnichannel solutions. Shoppers increasingly expect the flexibility to move seamlessly between in-store and online experiences, and an enterprise POS can serve as the engine that powers this capability.
“Omnichannel demands that both in-store, online, and mobile all operate from a common database so that pricing, inventory in-stock, and other customer-facing data like rewards points stay in sync across all sales channels,” Apgar said. “Payments is a key driver in all of this since most retailers use payment card data to track customer purchase activity across various sales channels.”
A Robust Repository
Data received from payments is another critical driver for the personalized experiences customers demand. Consolidating payments data into a central source provides merchants with a robust repository to make better business decisions.
According to Shopify, an enterprise POS system can track everything from customer feedback on products to the marketing campaigns they have engaged with. These data points help merchants tailor their offerings and deliver better service.
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