5 EPoS Trends For 2022
As we approach the second anniversary of the first known case of covid-19 in the UK, it’s no surprise that retailers have had to react and adapt to an increasingly precarious market. These market factors have led to a change in consumer behaviour, favouring contactless payments and efficient transactions. With EPOS systems evermore becoming integrated business tools, what's in store for EPOS systems in 2022?
Mobility is The New Priority
By 2025, statistics show that mobile POS payments are predicted to reach about £4,500,000 million and will have nearly 2 million users. Due to Covid-19, people are more wary to be in close interaction with people they are un-familiar with.
Although many customers like using their debit/credit card for transactions, there has been an increase in using Google Pay and Apple Pay. This means paying via phone and watch is becoming the new norm in payment methods. The accessibility mobile phones have given customers means your systems need to be ready for a new method that won’t be decreasing anytime soon.
If digital contactless payments continue to rise in popularity, by 2024 most people could be using digital wallets over physical cards.
Benefits of Mobile POS:
• No contact, better functionality: When our systems are used at restaurants, these systems also work as a digital menu where customers can input orders. These orders get delivered to the kitchen and straight to their table.
• Convenient: Rather than using cards that need to be ran at a counter, customers can pay at tables meaning minimal movement around the restaurant, creating a safer environment for both staff and customers.
• Serves as a static till: For other shops that offer self-checkouts, mobile EPOS systems can also work as a static till. Meaning less face-to-face interactions and again, a safer environment for staff and customers.
With our EPOS System, our systems can accept a variety of payment methods including mobile wallets to help minimise human contact and convert sales quickly.
More Businesses Are Transitioning to The POS Cloud
61% of fast-service restaurants in the US have embraced cloud-based EPOS systems. Cloud-based EPOS is currently leading trends today. Having a Cloud-based POS system helps your business work efficiently by downloading one app to sync with your system. Cloud-based EPOS can be integrated with programs your business uses already. Additionally, it’s predicted that there will be a 50% increase in cloud-based EPOS adoption before the end of this year.
• Simple: Cloud based EPOS replaces all previous EPOS maintenance with a single app. Any updates will come from the cloud whatever device you choose to use. This entire process is a lot simpler and makes it easier for merchants to handle.
• Flexible: If budget is a concern for you? Transitions to a cloud-based system can be gradual, adopting the system in stages to help those with tighter budgets or starting up a company.
• Functional: Most cloud-based EPOS can integrate with programs that your business is already currently using. If that is the case, than an open API EPOS is best suited for your requirements.
Integrated Customer Loyalty Program
When businesses show loyal customers that their loyalty is appreciated, customers are more likely to return to buy more products. 75% of customers prefer businesses that give rewards and 52% sign up to loyalty programs.
Whilst most companies only provide stamps and cards, our EPOS system can create a digitalised rewards program. So, if a customer forgets their reward cards, you’ll have it online and ready to use for them. This can motivate customers to convert in your business more often.
• Continuous loyalty: When customers know they can gain points via transactions, they become more encouraged to come visit.
• Customer Retention: Gaining new customers is 7x harder than maintaining good relationships with your existing customers. With a loyalty program, shops can encourage customers to return and make more transactions.
• Customer Data: A digital rewards program allows businesses to learn more about their customers. Seeing a customer’s behaviour online can help see which products are popular, which aren’t showing much interest so therefore you can stock, promote and discount particular products.
Collecting Data from Customers
Customers want their shopping experience to be easy and flawless. 83% of shoppers and willing to provide information to gain a more personalised experience, therefore collecting data from customers has become easier. EPOS systems can help process the data from your customers to create the best experience.
Data has never been easier to collect with our EPOS system. See buyer habits so give you an idea of which products are best to push and which aren’t gaining you profit. After gathering buyer habits, you can create a marketing strategy that can help promote your brand and its most popular products.
This is fantastic opportunity for smaller businesses to take advantage of by using a comprehensive EPOS system. Here are the benefits this can do to your business.
• Viewing Buyer Habits: With out systems, get insights on what your customers are purchasing. This gives you an idea of what they are interested in to then create promotions, discounts and offers.
• Improved Marketing Strategy: After seeing your customers habits, you can create a marketing strategy to help promote your brands and products that you sell.
• Actionable Data: More advanced EPOS systems will not only gather data for you but present it as well. With that, you can quickly recognise what needs to be done in terms of improvement and more.
Customers like instant transactions, creating a quick experience through payment will leave with more satisfied customers. With the rise of mobile payment, retailers and restaurants are making sure to accommodate this new trend.
Our EPOS systems accept a wide range of payment methods including contactless payments including smartphone payments such as Apple Pay, Samsung Pay and Google Pay. These new methods of payment will make your transactions easier and will help you and your customers have a more flawless experience with one-another.
Get More Out of Your POS
There’s no doubt that having a state-of-the art EPoS system will set your business apart from your competition and allow you to process more transactions on a day to day basis.
As the technology keeps on advancing, retail POS systems are getting more effective, secure and affordable for all retailers to improve their business tasks.