#RetailEXPO: New point-of-sale options mean tough decisions for retailers

As new POS payment technologies continue to emerge retailers have to balance the need to generate continued value out of their existing infrastructure while also investing in newer options for ever more demanding shoppers.

Jeremy Dunderdale, head of business solutions at TGI Fridays, said at RetailEXPO in London: “You’ve got to get money out of your assets. We’ve still got a five-to-seven-year [lifespan] for physical assets but can we reduce those assets while also putting in new PoS options including putting it onto customers’ devices or onto waitress’ devices.”

This situation is recognised by Cliff Austen, senior technical manager of retail IT at Co-op, who suggested that investments have to be made in flexible solutions: “You need to invest in systems that are open enough and can be adapted. We don’t know what POS we will need in the future and neither do customers so we want to be flexible enough to change.”

Such thinking has seen the Co-op invest in its Pay-in-Aisle mobile solution, which as well as being convenient for shoppers also allows the retailer to identify customers when they are in the store and communicate with them.

This identification in-store enables retailers to deliver a much more personalised level of service. Nick Popovici, co-founder of Vita Mojo, said this will be increasingly important at the POS: “It’s restaurants’ and retailers’ role to facilitate personalisation. We‘ve found customers have a higher satisfaction level with personalisation and have a 17% higher spend.”