Retail Challenges - Holiday Season

The Holiday Season is officially own its way. The Thanksgiving, Black Friday and Cyber Monday Sales have started and are in full swing. Everybody likes a sale but having an excuse to indulge in Retail Therapy comes fully with the Holiday Season territory.

Businesses can expect the rush and disruptive sales pattern to continue well into the New Year. The promise of a boom in sale is evident; but are retailers really prepared and poised to exploit the opportunities? Perhaps more pertinently are Retailers ready to face the challenges this brings? To state the obvious: you can’t exploit the opportunities in front of you if you do not prepare yourself to face the challenges that come with it.

Here I look at the key Holiday Season environmental and customer behaviour issues the Retailer must consider in coping with the Holiday Season.

Increased Demand: one of the most noticeable disparities in business environment and customer behaviour would be the increase in demand. The increase is likely to be across a range of products but with some products proving more popular than the other, sometimes unexpectedly. In 2004 for example Hamleys reported that the Destination Game was the top selling board game ahead of Monopoly.

Shipping and Delivery:  customer requirements during this period change the rules of shipping and delivery. Retailers face extreme competition with free and quick delivery becoming the norm rather than the exception. Many customers expect click and collect purchases to be available. The smaller and medium retailers face a resource deficit in relation to the established big retailers but cannot take the eye off the ball in relation to this very significant issue.

Promotions and Offers:  there is no limit to the number of promotions and offers available to customers during the holiday season. Clearly the resources and business scale do not allow businesses to automatically match more resourceful rivals. Playing to their strengths and targeted promotions and offers hold the key to retailers. Here personalisation and localisation can act as differentiators.

Marketing Channels: everyone’s doing what you wanted or planned to do when the mad rush for customer is on. So how do you effectively market your business and products? The argument that Digital Channels dominate lead generation and market penetration is now beyond doubt. Effective use of social media tools like Facebook, Twitter and well planned and phased email campaigns are the secret to a successful Holiday Season Marketing campaign.

Omni channel Integration:  the customer is in a rush but needs the right product at the time and place of his choosing. It goes without saying that an integrated multi channel sales process will differentiate itself from its competitors. Data points and sales process should be seamlessly integrated supporting multiple channels such as ecommerce, in-store, telephone, click and collect from a single point of view.

Customer Engagement: disruptive requirements result in chaotic customer behaviours. Retailers face a big challenge in maintaining and managing customer relationships during this time. Requests for returns, refunds and exchanges are likely to be the norm and how Retailers deal with it will make or break their Holiday Season campaigns.

Transaction Security:  scammers and fraudsters see a global opportunity during this season. With multiple channels and extensive range of payment options available, there is a bigger opportunity to use credit cards, online payments etc fraudulently. Retailers faced with huge sales backlog may be tempted to bypass normal transaction security guidelines. This would be counterproductive to the Retailers operations  as well as reputation.

With the Holiday Season Retail Rush on, let me know what you think are the most relevant issues and how they impact trade during this period. Would love to hear from you.

Mobile Pos – a logical trend

Mobile Pos – a logical trend

Studies over the past 12 months indicate the mPOS (Mobile Point of Sales) installs is poised for exponential growth across businesses. The past three years have seen businesses gradually recognize the benefits and inevitability on the role of mobile platforms and technology to their POS (Point of Sales) solutions. 

Today’s mobile systems (hardware and software) are built with the ability and requirement of integrating all aspects of internal operations as well as possible third party applications. In simple terms the mobile device supports and works on full POS functionality.

A study by the IHL Group on the mPOS market in North America forecasts:

·         A growth of 110% in mobile installs.

·         A large number of businesses are likely to replace traditional electronic tills and Point of Sales devices with Mobile terminals.

·         By 2018 mPOS shipments will have grown by 325% indicating a more general acceptance and maturity of the Mobile model.

·         Currently 60% of mobile installs are in speciality stores and hospitality establishments.

·         Speciality stores will see a 25% reduction in implementation of new POS terminals in lieu of mobile devices.

A study from Europe published by Computerweekly.com in May this year points towards a similar development here. A quarter of small businesses in Europe are looking at implementing mPOS within the next six months.

Research by Yankee Group from December 2013 found that 51% of merchants who began trading within the last three years are looking at implementing mPos to their business within the next twelve months.

34% of smaller retailers (with less than 20 employees) and 30% of retailers with 20-99 employees already had implemented mPOS but equally significantly 19% of the smaller retailers and 30% of the 20-99 employee group were considering implementing mPOS within 12 months.

This indicates a general irreversible trend in the POS industry that will be mobile centric.

The Mobile POS in trading environment is shaped by business requirements and the increased performance capability and systems compatibility of mobile terminals.

From a commercial and operational point of view, there is an increase in adaptability of mPOS solutions due to:

·         It is easy to set up and implement

·         Enhanced customer experience as mobile device can provide stock availability, price and other information real time across the shop floor.

·         Frees up space used by large terminals and registers.

·         Can function on a fixed location or on the move.

·         Integrates with other devices and applications; from printer, cash drawers and other hardware peripherals a mobile terminal can seamlessly integrate. Similarly all POS features including third party applications are integrable.

·         Full POS functionality on the move.

·         Costs have come down to much manageable levels which are at times cheaper than traditional electronic tills and POS.

·         Transaction and payments on the move.

·         Real time information and data retrieval and integration.

·         Cloud based Mobile solutions providing more options

In view of the above, the case for implementing mPOS in a business is pretty strong and all indications are that the trend is irreversible. What do you think? What are the pitfalls and shortcomings? Should retailers blindly follow trends or wait and watch to do what they feel is appropriate.

(Part 2 will cover the HP – Elitepad Mobile Pos with Emperium Epos).

Epos Systems Peripherals

An Epos System can be enhanced by a variety of hardware peripherals ranging from Biometric access devices to Mobile Tablets and terminals and Payment processing machines. The selection of the appropriate peripherals to be integrated is dependent on a business’s objectives and requirements from an Epos system.

Modern Epos systems are designed with the flexibility to incorporate peripherals as and when a business requires. An obvious advantage of the peripherals is they provide a quicker, more accurate and orderly operation.  This results in increased efficiency, reduced wastage and a generally more positive trend bottom line wise.

Epos Systems Peripherals and Accessories

A look at some of the more popular Epos system peripherals with a brief description is below:

Card payment processing machines: There were 2.2 billion purchases in the UK totalling a value of £140 billion (UK Cards Association Plastic Card 2013). This makes card processing machines an obvious business requirement to maximise sales and customer satisfaction. About two-thirds of credit card holders have used their card to make a purchase once or more a month. Businesses that do not have the option of accepting card payment are narrowing down their customers and business prospects. Epos systems are now integrable  with most modern card payment processing machines.

Barcode scanners: stock management and product information retrieval at checkout are two areas where barcode scanners are prevalent and assist businesses achieve higher efficiency. Barcode scanners can be static or mobile, single or omnidimensional and come in different shapes and sizes. Barcode scanners detect barcodes from printed labels, mobile phones and computer displays.

Cash Drawers: a range of cash drawers depending on security, size and shape are available in the market for Epos systems.  It provides security for cash and works with the Epos system during transactions and cash safeguarding. 

Biometric Devices: Epos systems increasingly control and administer access with Biometric devices. This allows businesses to control access, administer rights and review and report any breaches in privileges or security. Biometric devices are seen as being more accurate and secure in access controls and management.

Tablets and Mobile Terminals:  where businesses require staff to be on the move, tablets and mobile terminals are increasingly used. From serving customers on the move to communicating throughout the business including with the checkout terminals, printers and on the move stock management are some of the more popular benefits of Tablets and Mobile Terminals.

Printers:  epos systems interact with a variety of printers. Other than the obvious printing of the transactions and receipt, printers are also used for printing product information labels and other communication. Printers come in different sizes and functions.

Weighing Machines: Epos systems are often connected to electronic weighing scales. This is especially useful where retailers sell products like vegetables, meat and other items sold in measurable weight.

Epos Terminals: the front end of an Epos system, Epos Terminals determines not just the appearance of an Epos system but also come with many features that distinguish and set the tone for the Epos system. Touch screen capability, flat screen, size and energy saving functions are some of the common distinguishing features.

Emperium Epos - an infographic

An info graphic on the Emperium Epos software !!! (Part one)

Epos software from Epos Direct

Part two will review each module category.

Renting or Leasing an Epos System

Implementing an Epos system in a business for the first time can be “disruptive”.  The presence of new technology means a change in operations, processes, reporting and resources management. But what makes most businesses (especially the smaller to medium businesses) apprehensive is the upfront costs involved.  

Investing or spending money upfront without quick ROI can prove to be very costly in an increasingly competitive and challenging business environment.  At the same time a properly implemented Epos System saves time, money, and resources and enhances efficiency and performance resulting in increased bottom-line.

One way SMB (small to medium businesses) can find the middle ground of implementing an Epos System without too much upfront costs is through renting or leasing these systems. There is a tendency to take this route as costs are phased out and shared over the operating year; this means costs and revenues can be evaluated real time and a truer picture of the actual impact of the Epos Systems is visible.

Epos Direct provides renting and leasing from £20 per week for integrated PartnerTech Epos solutions. For many businesses this is a very flexible and practical way of owning their integrated Epos system. For £39 per week for 12 months a business can implement the innovative Digipos A300 integrated package. All packages powered by the Emperium Epos Software Suite. This sort of flexibility allows more operational freedom as funds are not tied up and payments are in line with operating incomes.

Epos System from Digipos, Partner and Epos Direct

Many businesses would prefer to pay full costs upfront as any rental or leasing agreement would be a “longer-term” commitment that they would prefer to do without especially where they have allocated funds for such purpose in advance.

As in any business decision the exact circumstances and requirements dictate the suitability of the mode of purchase. But the option of flexible weekly payments can seriously benefit a business looking to implement an integrated Epos system without fully paying upfront.

Request a call back !!!

Epos Systems Software – making the right choice

Many businesses view Epos Systems from the prism of Hardware and Peripherals. This is an anomaly in thought and decision making. Most of the hardware and peripheral manufacturers are reputed brands that have standardized on their offerings. Epos software on the other hand is specific in scale, functions, operations and target market. A decision on choosing the right software package must be taken after careful consideration of various business and environmental factors.

An article on Barepos.com looks at key factors to look into before choosing your software package. This is true for all Epos software and not limited to Bar or Pubs. We have our own set of advice on things to consider before implementing your Epos system software.

Epos software based on industry from Emperium Epos & Epos Direct

System Integration and Scalability: Software with inbuilt capability to keep pace with any scaling up of operations smoothly is a long term winner. As businesses grow they will need their Information Systems to reflect the change in operations and Epos software that is scalable saves time, money and resources on new systems, modifications or even disruptions. Another feature not totally unrelated is the Integration capability of Epos software. Although Epos software has outgrown its initial transaction processing days and now includes a multitude of functions, many businesses still opt for popular third party applications like SagePay accounts and a host of CRM and Marketing automation tools. A flexible or open API in your Epos software makes such integration simple without any impediment to your operations.

Upgrades and Support: Upgrades in software are the norm and reflect the evolving environment of the technology world. No software can expect to be immune from this or from additions in features, licensing and support issues. When choosing your Epos software ensure that you have a commitment and background resource of your solutions provider for upgrades and support. In a busy environment 24/7 technical support can provide not just mental relief but also prevent serious disruption to operations.

Operations and Reports: Epos systems have gone beyond transaction processing and now encompass modules on almost all operational areas. But not all businesses require such features or may find third party tools more beneficial for specific areas.  So the choice of Epos software must reflect the core operations businesses want covered. Business Intelligence tools and reports are another functionality businesses can make use of. Reports that focus on key performance areas can provide businesses with a competitive edge.

Solutions Provider: the choice of solutions provider is particularly important for Epos systems software as industry knowledge, technical competence and training and support are all factors that cannot be ignored.  The profile and background of your solutions provider reflects not just on the software product but also its performance and support during its lifetime.

Price:  Software costs are more complicated that getting what you paid for. A lifecycle of a software product needs to be factored in evaluating the price of the software. What represents a correct price is not overtly visible as several factors need to be assessed before calculating the exact cost. Some of the issues include:

1.       What is the licensing model and charges?

2.       How does the vendor price the support and upgrades?

3.       Is there lifetime validity for product?

4.       What would be the total costs involved over the lifecycle of the product?

5.       How does the solutions provider deal with modifications, customisations and changes?

Clearly businesses have to factor in a lot before they can choose their Epos software. Epos systems can be very rewarding and can provide businesses with a competitive edge but a less well thought out implementation can prove to be a drain in resources and operations.

Want to speak to one of our Epos experts; click call back !!!

Restaurant Epos System

Restaurant Epos System

The hospitality industry has been in the forefront of implementing integrated Epos systems to augment their operations.  This is due to the hospitality operations being very receptive to software systems and a variety of hardware peripherals. Epos Direct is one of the global leaders in providing solutions for the hospitality industry. As authors of the Emperium software suite, Epos Direct is considered one of the leading authorities in restaurant management software used extensively for restaurant epos systems.

Emperium Epos Software

Restaurants worldwide consider Emperium Epos software as a solution of choice for their Restaurant Epos Systems. This is due to many factors including the rich functionality, flexibility and scalability in scope and operations. To make maximum use of any new system there must be the right combination of software modules and hardware peripherals; these must be seamlessly integrated to enhance processes and operations.

Restaurant Epos System

Restaurant Epos System Feature List

The Emperium Epos software has an extensive and relevant features list that provides restaurants with the most appropriate bespoke level solution. From table management to customer loyalty and special promotion modules the Emperium software looks at operations from a restaurants point of view. Some of the other differentiating features include user display options, menu management, stock management, audit trails, order management and connecting to head office suite to remotely monitor and manage multiple tills and branches.

Emperieum Restaurant Epos Systems also benefit from the most incisive and relevant business intelligence reports available in the market. Covering the 6 core areas of operations; Sales, Customers, Products, Human Resource, Financials and Suppliers restaurant owners and managers have access to reports that allow them to intelligently analyse current performance and take decisions based on past performance.

Things to consider when choosing an Epos System for Restaurants

Budget: an obvious consideration as restaurant epos systems can vary on the scope of operations and hardware peripherals. Setting up your budget early can help you in choosing your right Epos package and save you money in the short and long term.

Scale of operations: Epos software and systems vary according to scale of operations. Whether you are a single till restaurant or multi-till multiple branches restaurant chain, a software system that enables smooth and straightforward scaling up or change in operations can be extremely valuable over the short and long term.

Features: Epos systems have evolved from transaction processing tills to complex operations management systems. Epos software in the market are often generic and do not deal with specific requirements of customers. On the other hand customisable and bespoke Epos systems can come with a big price tag. The features and objectives the business expects to achieve are vital when choosing Epos software.

Technology:  the popularity of wireless multichannel and cloud platforms has changed the solutions delivery landscape. The presence of technology does not directly infer the necessity for businesses to implement them. Restaurants must choose from their requirements and capability to implement the relevant technology.

Flexibility: the option of integrating a range of software applications and hardware peripherals means restaurants cannot ignore future expansion or additions. Robust software applications have in-built capability that caters for future integration without any disruptions to the operations or systems.

Vendor Profile: with no dearth of vendors and solutions providers in the hospitality epos industry, restaurants need to ensure that their solutions provider is reliable, trusted, has a provable profile and provides comprehensive technical support and training.

In short businesses will do well to looking to the above factors when deciding the best Epos solution. Epos Direct a global leader in providing restaurants with integrated Epos packages is an example of an organization that delivers what restaurants require.