Mobile has changed how consumers shop. One of the more crucial steps in the shopping journey - checkout - has been flipped on its head. Influenced by EMV deadlines - which mandates merchants must accept EMV chip-and-pin cards at their point-of-sale (POS) terminals instead of traditional mag-stripe card readers - retailers have revamped their POS systems to include multi-device compatibility.
Tiffany & Co., for example, recently rolled out mPOS (mobile point-of-sale) solutions across their storefronts. One of the added benefits is that it helps eliminate long lines and lets customers complete checkout right where they are standing. For the retailer, store associates armed with clienteling tools and mPOS can create cross-sell and upsell opportunities that give way to more impulse purchases. Further, quicker and more convenient checkout saves time freeing up staff to help other customers.
Mobile payments is one way brands can tailor the in-store experience for the mobile-first shopper. However, this goes beyond payments - there are a myriad of reasons why retail brands may want to rethink their current in-store checkout options.
Customers’ changing expectations
Following the emergence of mobile payment providers like Apple Pay, Google, and PayPal, to name a few, customers increasingly expect retailers to offer and accept mobile payments. Some shoppers rarely carry cash or credit cards with them anymore, instead preferring to pay with a tap of their smartphones or smartwatch.
Forward thinking retailers and brands can leverage mPOS solutions to meet customers’ expectations, and use mobile payments as a vehicle for driving customer loyalty.
More time for store personnel
In the case of a brand like Tiffany’s, customers often lean on store associates to answer product questions, make personalized recommendations, and assist with sizing. Today, customers are the new point of sale. Brands that are able to empower their store associates with tools like clienteling and mPOS solutions that help them deliver a white-glove customer service experience.
Collecting more data
Many employee facing retail technology solutions are able to collect valuable inventory, customer and employee data. A store manager could ask employees to review their current inventory levels. A quick check on their mobile device would indicate which items are purchased most frequently. The retailer could then easily pinpoint bestselling items and use that information to inform next season’s offerings.
Additionally, retailers can integrate their loyalty programs with mPOS solutions, resulting in a more seamless experience for the points-collecting shopper and garnering more consumer loyalty data for the brand.
Staying environmentally friendly
Digitizing in-store checkout experiences come with an added bonus in terms of making a significant impact on brands’ desire to become more green-conscious. Mobile point-of-sale systems typically encourage users to have digital receipts emailed or texted to them, thereby cutting down on the amount of paper receipts printed each day.
Whether its influenced by the hassle that comes with meeting EMV mandates, or the brand is focused on providing a more seamless experience, shoppers can expect to see more big brands taking strides to deliver a true omnichannel shopping experience.