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Mobile PoS - The next Retail IoT buzz word

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Understanding the benefits of Mobile PoS and it's evolution in Retail space and why we need to treat it as next big thing in IoT

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Mobile PoS - The next Retail IoT buzz word

  1. 1. 1 Mobile POS As the Internet of Things evolves, the retail land- scape will move beyond the traditional POS register. If we look at the trends of mobile payments, some of them are gaining tremendous traction in the mar- ket. For an intuitive customer experience, retailers are creating more connected in-store environment. Let’s look at some of these trends which can help in creating a truly IoT in-store environment. Near Field Communications Although many think of it as a passé now itself, some 1 billion MFC enabled phones are going to be shipped by 2018. This technology finds its big back- ers in Google and ISIS wallet. Retailers are going to update their POS terminals for this NFC enabled technology. Beacons It is estimated that by the end of 2018, around 3.5 million Beacons would be employed. It amounts to a tremendous growth rate of 287% in the coming 5 years. Using beacons, retailers can enable location based targeting, payment options, product recom- mendations, etc. This will increase both the in-store app usage and app user retention. Beyond Payments Mobile shoppers are interested in such apps which enable them to do more than just payments. Some of the retailers are already working on providing them with – access to coupons, viewing shopping lists, tracking spends, etc. Another feature which is floating in the current scenario is gift card. Compa- nies like Starbucks, has rolled out gift cards in the form of a mobile app, as keeping a physical card has Info-Wallet Mobile PoS- The next Retail IoT wave
  2. 2. 2 about expedux Frequent innovations, 3-click away purchasing models and the internet of things world are constantly push- ing the boundaries for both online and offline shopping. As the digital and virtual in-store experiences shape the retail experience for end customers, it is opening up exciting new possibilities for the out of the box retail- ers. With this power shift comes a great opportunity for retailers, the front runners choose to adopt the tools and insights from the web to close the gap between the smart online consumer and the offline retailer, which enables them to stand out in a fiercely competitive & crowded marketplace. The biggest question now for the internet retailers is – How will I increase my revenue from X to 2X within the given time frame? Who has the mindset to help me achieve my revenue targets promised to my stakeholders? Expedux technologies an Online retail specialist operates with a single minded focus towards achieving one goal – Increase the online retailers revenue from X to 2X for our customers. We frequently push our bound- aries in technology and marketing perspectives to achieve our customers end objective of maximizing their online presence and revenue within short duration. Online retailers interact with customers through count- less channels—websites, physical stores, kiosks, direct mail and catalogs, call centers, social media, mobile devices, gaming apps and more. Expedux can help Online retailers to have their presence across all the above mentioned channels with the technology and customer engagement best practices. Email: info@expedux.com Twitter: https://twitter.com/expedux Website: http://www.expedux.com become cumbersome for the people. Since, almost $100 billion is spent on gift cards annually, this kind of smart gift card will definitely work towards the IoT environment, enabling the customers for a seamless shopping experience. Inventory Mobile POS can help an employee to get all the re- quire information of a product like price, stock, etc. from the floor itself. Such mPOS devices eventual- ly make the customers’ experience more engaging. Even purchases could be made via this mPOS which again creates a complete IOT in-store experience. It can also help in tracking a shipment and checking on ‘return frauds’. As discussed, Mobile POS is going to be the next big wave in IOT for retailers. The question is how safe the customers will feel using it? Retailers would have to adopt these technological innovations to enhance both the merchant and customer experience. The growth is immense but so are the challenges.

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