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12/09/2009 -
Many retailers and merchants know that having up-to-date point-of-sale (POS) technology can help speed up checkout times, improve cash flow and protect PCI compliance. However, the "best-in-class" merchants know that POS technology can bring even more benefits, especially in terms of marketing.
A recent report from the Aberdeen Group showed that merchants identified as best-in-class regarding their POS technology are more likely to use the terminals for marketing purposes, to help increase their sales and boost their bottom lines.
For example, 77 percent of best-in-class merchants use their POS terminals for perpetual inventory management, while 70 percent use coalition loyalty and membership discount card programs executed at the POS terminals, to increase basket size and wallet share.
In addition, 67 percent use signature pin-pad enhancements that stream dynamic and personalized promotional content and digital images, prompting improved customer conversions, up-selling, cross-selling and impulse purchases.
Another technique, used by 56 percent of merchants, was using mobile or thin/lean POS terminals for quick checkout, self-checkout and assisted selling.
Other Canadian merchants can benefit from the best-in-class example, as another study from the Aberdeen Group found that 73 percent of retailers rated themselves as sub-par or worse in their POS technology.
