5 features you need from your point of sale (POS) system
Vaishali Ravi
·April 25, 2023
We just launched Loop POS to take your online returns offline.
And that got us thinking about point of sale (POS) systems; what they are, what they should offer, and how you can leverage them to grow your Shopify store. That’s why we wrote this quick blog, to empower you with information around POS systems and the key features we believe matter most.
Here are the 5 features you need from your point of sale system:
1. Data gathering capabilities
You should expect your POS system to provide detailed reporting and analytics.
This data can be used to gain insights into what products are flying off shelves while others get returned. When you’re able to capture the “why” behind less popular products, you can make data-driven decisions that keep up with changes in demand or customer behavior.
2. Revenue retention focus
Are exchanges so complicated that you find your team always recommending refunds?
Many POS systems struggle with exchanges, even though 60% of returns are due to wrong size or wrong style. When you can give a customer exactly what they need, without complicated workarounds, you’re able to retain revenue, improve customer experience, and even capture additional revenue if they took a moment to look around.
Don’t let your store be another way for shoppers to abandon their cart.
3. Ease of use and simplicity
One of the most critical aspects of a POS system is its ease of use.
Your store associates take care of all the details, big and small, which doesn’t leave a lot of room for time consuming transactions. Your POS should be intuitive and straightforward to navigate, allowing associates to complete transactions quickly and efficiently.
A simple POS interface can save time and reduce human error, a better experience for both your employees and your shoppers.
4. Maximum flexibility and customization
No one knows your brand better than you do.
That’s why you should expect your POS system to be highly customizable. A one-size-fits-all approach doesn’t work when it comes to specialty products, different return windows, warranties, and more.
Look for a POS system that has flexible restocking options, the ability to override return policies, and the option to complete multiple updates on one transaction.
5. Exceptional customer experience focus
It goes without saying that your primary focus is your shopper.
When your shoppers are happy, your brand thrives. And a big part of this is making the system work for the shopper’s demands. However, many POS systems lack optionality which leaves your store associates apologetic and your shoppers dissatisfied.
Look for a POS system that provides all options, including multiple return and exchange outcomes, so you’re ready for anything your shoppers throw your way.
In closing
When you’re in-store, there are few things as stressful as standing face-to-face with a frustrated customer. In these times, you want to make sure your technology is working with you, not against you.
Next time you’re working with your store associates, ask them what’s working and what’s not so you can start updating your stack to lift them up.
With a POS system like Loop POS that captures data, retains more revenue, and offers flexibility, you’re able to streamline operations, improve customer experience, and ultimately drive growth.
Want to get the most out of your store transactions? Check out the NEW Loop Point-of-Sale iOS app!
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Retain more revenue with Loop today
With Loop, your brand can offer everything from refunds to direct exchanges to shopper incentives and more. Even better? These exchanges build your business.