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Inventory Management 101: What are SKUs?

Inventory Management 101: What are SKUs?

A SKU (pronounced “skew”) stands for Stock Keeping Unit and is used by retailers to both identify inventory and keep track of inventory movement. 

It is basically a unique combination of numbers and letters assigned to each product in a retail store. As a retail owner, SKUs give all of your products a single type of code to help you keep track of certain details for a specific product including price, product information (colour, size, features, etc.), quantity, and manufacturer. SKUs are often associated with vendors or supplier barcodes but can they can also be converted into scannable barcodes and printed on to product labels.

A retail POS system is the software that holds all of this inventory information so that you can track what you’re buying, how much stock you’re carrying and whether stock movement matches what you’ve sold. Whenever you’re looking for a new retail POS system make sure to check if the software will allow you to use your existing SKUs and also generate consecutive SKUs for new products. This is particularly important if you integrate to other non-POS systems (e.g. accounting systems) based on your SKU names. 

SKUs vs GTINs

SKUs should not be mistaken for Global Trade Item Numbers (GTINs) or Universal Product Codes (or UPCs). SKUs are internal codes used for products that are unique to a retail business. On the other hand, GTINs or UPCs are the same for a product – no matter who/what store sells it.

product label

How are SKUs Made? 

Each retail store has a unique and specific process in place for choosing SKUs. This method is usually easy to understand and follow for retail staff. 

POS systems can help you create SKU codes based on a format that works for your business. For example, your SKU code can have a specific prefix or suffix together with a number that increases consecutively. For example, a SKU for your business might be FD-2340-GR. Others use shortcodes within their SKUs as an easy hint to staff so they don’t need to memorize numbers.

retail POS system

How are SKUs used?

Inventory management: Inventory/stock-takes should be done at regular intervals in retail; both for tax purposes and to ensure accurate inventory levels. 

When each product is assigned a unique SKU, inventory availability is easier to determine throughout the year. And when it comes time for a stock-take, SKUs make it easier to reconcile stock levels – so that actual inventory levels match inventory counts in your retail POS or inventory management system. 

inventory management

Stock replenishment: Making use of SKUs can help store owners identify reorder points and a minimum threshold – so when inventory hits a certain level, they are made aware that a new purchase order needs to be placed. 

These internal codes also help you identify the products that move faster. Meaning you only have to re-order when you really need to – resulting in reduced inventory holding costs. 

skus make for easier stock replenishment

Better customer experience: Have you ever walked into a store and seen a pair of shoes or a t-shirt that you liked – but it turned out that you needed a different size? In this case, retail employees usually scan the item’s barcode or label to see if they have your size in stock, either in the back stockroom or at a different location. 

This instance explains how SKUs are used within a retail system to improve customer experience. When products share a traceable type of code, you and your staff can more easily identify stock levels quickly so that more time is available to actually assist customers.

identify stock levels quickly

Identify profitable stock: SKUs are generally the easiest way for retailers to filter for specific and detailed product reporting – e.g. identifying best sellers and underperforming products by their SKU. When you combine this with merchandising and product categories or tags, business owners can more easily see the effectiveness of their store’s product mix. 

identify best sellers and underperformers

Identify inventory shrinkage: Inventory shrinkage in retail can be defined as the discrepancy that exists between the inventory quantity in a retailer’s POS system and the actual inventory in that store. In other words, it consists of the stock/product/inventory that goes missing due to human error, theft, damage, miscounting etc. 

Inventory management is key to combating shrinkage in retail. As stated in an inventory shrinkage article published by Forbes, “Without an active inventory process, you do not realize your losses until it is too late.” 

And properly designed and implemented SKUs are central to any good inventory management system. They are key to modern digital retail since they are necessary to share and track inventory information between different locations, systems, and sales channels.

SKUs help reduce inventory shrinkage

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We will be posting more inventory management tips in the upcoming weeks.

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Traditional VS. Cloud-Based Retail POS

Traditional VS. Cloud-Based Retail POS

If you are a retail store owner, and you’re looking to purchase a new POS system, you’re going to have to decide between a cloud-based or an on-premise software. A new POS system is a significant investment of both time and money which is why it is so important to do research to find the best option for your retail business. 

In this article, we’ll explore the differences between the two types of software and the advantages and disadvantages of each. 

What is a Traditional POS System?

Traditional POS systems, also known as legacy or on-premise POS, store data on a local database. You can think of it in the same way as storing a report or document on your desktop computer – you can’t access it from anywhere else. 

What is a Cloud-based POS System? What is SaaS?

On the other hand, cloud POS systems store data in the cloud, meaning you can access it from anywhere with an internet connection. For example, think about using applications like Google Drive or Dropbox to store your data.

While “cloud” and “SaaS” are often used interchangeably, it’s important to remember that there are hybrid cloud solutions which are not 100% cloud-hosted. This is different from SaaS systems which are true cloud native applications – software that is licensed on a subscription basis and is centrally hosted. This central hosting is what makes SaaS so cost-effective and easier to maintain compared to hybrid solutions.

Comparison of Traditional and Cloud-based POS Systems

Accessibility: As mentioned above, on-premise POS solutions have disadvantages compared to cloud-based POS when it comes to data accessibility. Since data is stored on a local server, you can only access data if you are on-site/in-store. In comparison, because you can access data anywhere with a cloud-based POS, you don’t have to be in-store to make changes to inventory, check sales reports, etc.

data accessibility

Cost: On-premise POS systems require a high upfront investment. If you add maintenance, hardware, and re-installation costs on top of the upfront fees, on-premise software can be quite expensive unless you are able to use it for an extended period of time.  

Cloud point-of-sale software usually requires very little upfront investment – instead, you pay a monthly subscription fee. Since updates are automatic and handled by the POS provider, there are no maintenance fees required either.

However, cloud POS providers charge based on a variety of factors including number of stores, employees, and inventory. That means that a cloud POS system can be quite costly as well if it is not built to scale with your retail store. If you are leaning towards signing up with a cloud POS software, it is a good idea to choose a POS that can grow with you.

POS cost

Updates: Traditional POS systems need to be manually updated and may require on-site technical support. Not only does this take up time and money, it can be disruptive as the POS system cannot be used while the update is being done. In comparison, cloud POS software comes with the added benefit of real-time updates which are usually run off-hours. Not only does this reduce maintenance costs and help ensure that your software is always up to date, it makes your software “future-proof” as your solution will keep improving over time.

POS Update

Hardware: With on-premise POS software, it is likely that you will be tied to specific hardware devices. This is due to the fact that you must pay a licensing fee for every device you wish to operate on. The more devices you have, the more costly it will be for your retail business to implement an on-premise solution.

Alternatively, with cloud POS software, you will not be tied to specific operating devices. Innovative cloud POS technology can function perfectly on any device from touchscreen monitors and iPads to mobile phones.

POS hardware

Data: Since traditional POS systems store data on a local server, there is a risk of losing all of your data if your system crashes, there is a software bug, or there is a disaster (e.g. fire, flood etc.). On the other hand, since cloud POS software automatically stores data in the cloud, your data will be safe in the instances above. At the same time, reliable POS providers will always use reputable cloud hosting service providers such as Google Cloud or Microsoft Azure to host their applications for both security and world-class reliability. 

POS data

We hope you found this article helpful. 

Stay tuned for more POS tips! 

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12 Features to Look for in a Retail POS System

12 Features to Look for in a Retail POS System

Owning the right POS system is essential to the success of any retail business. Today, a retail POS system can do much more than just handle payments and record sales – innovative POS technology now functions as a complete retail management system. 

In other words, a feature-rich retail POS system acts as a tool that enables you to both manage and grow your store.

But with so many different retail POS software in the market, how do you find the right one for your retail business?

Whether you’re looking for your first ever POS software or looking to upgrade to a new one, finding the right solution for your retail store doesn’t need to be difficult. 

In this article, we’ve broken down the most important features to consider when choosing a retail POS system. 

12 Key Features to look for in a Retail POS System

 

Point of Sale Features

Let’s begin by discussing all of the features needed in the sales portion of your retail POS. This covers all of the functionalities and features needed for a fast and easy checkout experience. 

grocery store checkout

1) Easy to Navigate Salesscreen: In order to ensure a fast checkout experience, it’s important to look for a POS system that is user friendly and designed for minimum clicksCashiers shouldn’t have to leave the salesscreen in order to complete a transaction.

2) Fast Barcode Scanning: Your retail POS system should be designed for quick scanning speed while giving you the ability to quickly recall your last search. It’s also important that your POS software can handle multiple barcodes per SKU (an internal code, a shortcode, a vendor code(s), and a manufacturer code). 

3) Advanced Inventory Search: Besides handling a high volume of inventory and transactions (read inventory features below), your retail POS software needs to have smart search functions. This will allow you and your employees to search for products by keyword, description, barcode or tag in case labels fall off or are not scannable. 

4) Inventory Management: Inventory is the most important asset you have as a retailer which is why it is necessary to track and keep an accurate count of all of your merchandise.

retail employee doing inventory check

The inventory management component of your retail POS will help you replace tedious methods of inventory control resulting in time, money, and effort saved.

5) Mobile AccessibilityMore and more retailers are recognizing the benefits of cloud technology and consequently, cloud POS adoption is growing at a significant rate. Cloud POS software stores data in the cloud giving you the benefits of remote accessibility, cost-savings, and real-time data accuracy. Click here to learn more about the benefits of cloud POS technology.

You’ll also want to make sure that your retail POS is completely mobile-friendly and can be run on any device. This will enable you to ring in sales anywhere in your store (e.g. on an tablet or mobile phone) which means a faster checkout experience for your shoppers.

6) Cross-Platform Access: Having a POS software that is compatible on any device is important for emergency instances when your store’s internet connection goes down. In the past, it was assumed that offline capability is the best alternative when internet access is down. But the fact is, credit and debit cards are the most popular payment methods for shoppers today, and PINpads won’t work without an internet connection.

Some systems offer the ability to store credit card details in the device until internet is back up but not only is it riskier to shopper payment details, you’re taking the chance of the stored payments not getting approved.

In today’s market, offline capability is not as useful as a smart POS platform that can be logged in from any device. When internet goes down, it’s as simple as securely logging in with a mobile device with data to continue ringing in sales.

7) User Access Rights: It is likely that you will have multiple people working in your business. Which means that your retail POS will need to be able to identify different users and give them tailored access to the system based on their role. User access rights also enable store owners to limit permissions on certain features in your POS (for ex: reports, etc.).

8) Scalability: Look for a POS software that will grow with you as your retail operations scale. Your retail POS should have the following features: the ability to handle high transaction and inventory volume, international tax settings, multi-currency handling, unlimited stores, selling zones and multiple stock allocations. 

These features will allow you to grow and scale with your POS software. Some cloud POS software have limits on the number of users and stores – meaning if you eventually outgrow your existing system, you will need to invest a considerable amount into upgrading or switching to another POS altogether

9) Customer Relationship Management (CRM)

customer relationship management

The CRM component of your retail POS software stores shopper information and allows you to better manage your customer base. It can generate huge benefits for your store – including better customer relationships, sales reports that allow you to make better business decisions and more efficient operations. These benefits ultimately lead to more sales.

10) Bulk Item Import: For fast POS onboarding, you will want to select a retail POS that can import all of your inventory and customer details. Otherwise you will be stuck manually uploading your inventory – which is an extremely tedious and time consuming task.

11) Built-In Training Tools: Smart POS systems today will have self-service functions such as built-in chat support, online knowledge portals and even step-by-step guided products tours. Not only does this minimize your onboarding costs, it ensure that staff can quickly learn how to use the system at their own convenience.

12) Marketing Integrations: Traditional point-of-sale systems are essential to retail operations management but modern cloud POS systems are data-driven which means you can now use your retail store data to drive digital marketing. A POS that has built-in marketing tools will allow you to streamline your marketing efforts so that you can sell more. For example, a POS that integrates to Google will help your retail business appear higher up in search results – resulting in more local foot traffic and sales.


TAKU Retail POS is designed for high traffic retailers looking to increase foot traffic to their physical stores. Join our beta waitlist here

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How to Choose a Retail POS System: 4 Important Things to Consider

How to Choose a Retail POS System: 4 Important Things to Consider

Whether you’re a long time merchant or you’re just starting out in retail, having the right POS system in place is crucial for your success.

A retail Point-Of-Sale system helps you simplify and manage all aspects of your business operations including sales, inventory, and customers. Even better, today’s innovative POS software is data-driven and includes marketing integrations designed to help you increase your revenue. 

In this article, we’ll take you through the key aspects that you should consider when choosing a retail POS system.

4 Things to Consider when Purchasing a New Retail POS System 

  1. Cloud vs On-Premise: First, you must decide whether you want to use a cloud-based or an on-premise retail POS system. The main difference between the two softwares has to do with how data is stored.

On-premise software is installed on specific devices and data from your POS is stored on a local database (e.g. a device in your store). Because the data is stored on a specific computer or device in your store, you can only access data if you are physically in the store. For example, you can compare it to having data (e.g. a document or report) stored on your computer at home – it cannot be accessed from anywhere else. 

On the other hand, cloud software stores data on a cloud server – meaning that it can be accessed from anywhere with an internet connection. A simple example for this would be using Dropbox or Google Drive – as long as you have an internet connection, your data can be accessed from anywhere. 

When deciding between the two types of POS software, you must consider which one is a better fit for your retail business. Click here for an in-depth comparison that will help you better understand the type of software that will best suit your operational needs.

cloud technology

2. Device Compatibility: It’s important to note that not all POS software works on all devices. So you must also consider compatibility with your existing devices when selecting a new POS software. Otherwise, you’ll need to invest a considerable amount of money (and time) in new hardware devices.

When narrowing down your POS options, look for compatibility with existing devices and hardware such as your POS terminals, credit card terminals, barcode scanners, etc.

Expert Tip! An important point to note is that just because a software is cloud-based, does not mean that it is compatible on any device!  

POS hardware

3. Training and Onboarding Costs: While you may be tempted to choose the cheapest POS software option, it’s important to look at cost of onboarding the solution into the overall ROI (return on investment) of investing in new POS technology. 

A POS system that is inexpensive but difficult to use can cost you a lot in the long term. This is especially true for high-traffic retailers that deal with peak periods and long lineups. It is also important for retailers with high turnover rates or seasonal peaks. If you are constantly training new staff members, you need to consider a solution with built-in training tools.

A user-friendly software that is easy to operate will speed up store operations and make for happier, more productive employees. This means a faster onboarding process and lower training costs for you! 

employee training

4. Scalability: Many retailers make the mistake of choosing a POS without thinking about business growth. While you may only have one retail location with minimal inventory now, there’s no way to know how quickly your retail operations will grow. That’s why it’s important to make a decision about a new POS with the goal of growing your retail business. 

This means that your POS software should be able to scale with you. Look out for the following features when selecting a retail POS software: 

  • the ability to handle high transaction and inventory volume

  • unlimited stores, selling zones, and stock allocations 

  • the ability to hand multi-currency and multi-language

  • automated tax calculations based on geographical location  

Many retail POS providers restrict the amount of stores and inventory amounts that can be used – meaning that you have to invest a substantial amount of money upgrading your POS plan or investing in a new POS altogether. So rather than wasting resources switching to a new POS provider, choose a POS software that supports store growth. 

Your Retail POS should grow with you

We hope you found this article helpful!

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What is Local SEO and how can it Benefit your Retail Store?

What is Local SEO and how can it Benefit your Retail Store?

Reaching a local audience is critical to the success of any brick-and-mortar retailer. This is why local search engine optimization (or local SEO) is so important. 

Local SEO helps store owners promote their retail business to local shoppers.

In this article, we’ll go into detail about what local SEO is and how it can benefit your retail business – from increasing your online visibility, driving foot traffic, and ultimately growing your revenue. 

What is Local SEO?

Local SEO stands for local search engine optimization. It is the process of “optimizing” your online presence so that your store can appear as high as possible in search results. By focusing on local SEO, you can attract more business from relevant local searches.

Essentially, the purpose of a local SEO strategy is to ensure that users can find you – both online and offline. 

The Importance of Local Search

shop local flag

According to Google: 

  • 4 in 5 shoppers use a search engine to find local information.

  • 50% of shoppers who conducted a local search on their smartphone, visited a store within the same day.

  • And 34% of users who searched on a computer/tablet did the same. 

Having said that, the amount of users that are conducting local searches is also growing at a significant rate. 

Over the past several years, there has been over a 500% growth rate in “near me” mobile searches that contain the phrases “can I buy” or “to buy”. 

For shoppers, search is no longer about finding a specific business. It is about finding a specific product in a specific place and in a specific period of time. 

The challenge for store owners then becomes giving target shoppers the answers they are looking for at the exact moment that they are searching. And by doing so, capturing both their interest and the sale. 

This is where local SEO comes in. 

The Benefits of Local SEO 

local store

We know that the modern shopper prefers to conduct product research online before making purchases in store. So it makes sense that retail businesses with the greatest local online presence (or a strong local SEO strategy) will capture the majority of sales in a certain area. 

Listed below are the key benefits of a local SEO strategy. 

Local SEO Strategies

seo strategy

As a local store owner, you may feel that investing time into your Google search ranking is useless as it means competing with larger retailers like Amazon and Walmart. But this isn’t the case for local search.

Google recognizes the benefits of local business and it knows that shoppers do too. So in order to determine how your business ranks in local search and if it is geographically relevant, Google takes a certain set of factors into consideration. 

With that being said, there are key elements to ranking well in local search – which can be broken down into the following three components: 

  1. Optimizing your Google My Business listing: Google My Business is a free online listing service offered by Google. It is a powerful yet easy tool that retailers can leverage to drive local foot traffic. To learn more about Google My Business, click here
  2. Optimizing your store’s website for on-site SEO: Increasing your on-site SEO involves updating your website to optimize for several ranking factors. This includes improving internal linking structure, building local content, optimizing for keywords (website URL, meta descriptions, titles, headers etc.), and ensuring that your website is mobile-friendly. 
  3. Optimizing for off-site SEO: This involves everything you should be doing across the web (other than your own website). Key strategies to focus on include NAP consistency, inbound links, and local directory listings. 

If you would like help implementing a local SEO strategy for your retail business, hiring a local SEO consultant is a good place to start. Click here for an informative and thorough guide on how to find the best local SEO company for your retail store. 


Keep an eye out on our blog for more SEO tips. 

In the meantime, if you would like to learn more about how you can increase foot traffic and store sales, click here

 

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What is a Retail Point of Sale System and why your Store Needs One

What is a Retail Point of Sale System and why your Store Needs One

A point of sale system is demonstrably the most important tool you can have when running a retail business. 

In fact, retail stores that invest in a strong POS system are quick to see a huge return on investment. 

A retail POS can help you save time and money by streamlining repetitive tasks, maintaining business records, and reducing human error. Even better, it can even help grow your retail business with useful data and marketing integrations.

Keep reading to find out more about how your retail business can benefit from a POS system.

What is a Retail POS?

grocery store checkout

Traditionally POS stands for “point of sale” – which refers to the place where a customer transaction occurs. Or in simpler terms, the point at which a customer hands over money in exchange for a product that they’ve purchased. 

For many retailers, this usually means the area surrounding the checkout line. For retailers who adopt cloud POS or mobile POS solutions, their whole store essentially becomes a point of sale. 

What is a Retail POS System?

pos system

To better manage in-store checkout, retail POS systems were created. The original POS systems were a combination of hardware and software that retailers used to manage their sales operations. Because POS systems are the only source of all detailed store sales, they eventually expanded to include everything from tracking customer history and taxes reports to advanced marketing and inventory management. 

Retail POS Software

Today, there are 2 main types of retail POS systems in the market: on-premise software and cloud-based subscriptions.

On-premise POS software: This type of software is installed on specific devices and usually does not rely on the Internet because the data is stored on the same devices. Because the database is stored “locally” in a specific server computer in your store, you can only access the data when you are in the store.

Cloud-based POS software: Cloud software stores data in an off-site cloud server (often hosted by a major cloud hosting service such as Google Cloud or Microsoft Azure) and is accessed via the Internet. You can compare it to writing a report on Google Docs. As long as you have an Internet connection, you can access your report from anywhere. While there may be some limitations without Internet access with cloud systems, there are major gains in remote accessibility, cost-savings and real-time data accuracy. Click here for more information on the benefits of cloud-based retail POS software

There is also a 3rd type of “hybrid” retail POS system which combines a hardwired local connection with access to data in the cloud. While this type of solution reduces the reliance on Internet, it is often a more complex system to maintain and more commonly used by larger operations. At the same time, because it is designed to allow for longer offline use, there is greater potential for issues with data quality during “synchronization” of online and offline data.

Expert Tip! It’s also important to note that offline usage and “data integrity” actually work against each other. While it is key for operations to have usable salesscreen functions (or alternative ways of processing sales) when the internet or network is down, the quality of the pooled data is lower and less accurate the more often the stations in a POS are “offline.” So if getting accurate, accessible business data from anywhere is a major priority, it’s important to consider a system which prioritizes real-time data accuracy with fast and reliable data sharing and considers offline usage for emergency scenarios only. Systems that prioritize offline capabilities over the data sharing functionality will be designed for infrequent synchronization. While this may not be a concern for certain types of businesses, the reality is that omnichannel retailers that need real-time stock quantity and even restaurants that take online orders need accurate POS data to make better operational decisions. After all, customers now expect real-time information when they intend to shop or order something. It’s another reason why smart POS is now able to automatically help merchants update correct store information or product stock levels in real-time.

cloud POS

Retail POS Hardware

POS hardware includes all of the physical components of your POS system. It is usually comprised of the following items:

1. POS terminal: This is the hardware or device (computer, laptop, desktop etc.) that the POS software runs on.

Traditional, on-premise systems have limitations when it comes to hardware. This is because most on-premise solutions can only operate on certain devices and operating systems (such as Windows or Mac). 

To use on-premise POS software, a license must be installed on each device that a merchant wishes to operate on. At the same time, licenses are often tied to the hardware they are installed on and can be difficult or costly to transfer to other devices.  

For newer, cloud-based POS software, merchants can use any device with Internet connectivity to access their data – laptops, tablets, desktops and even mobile phones. Cloud POS software does not require merchants to pay per device, rather merchants often pay per active station (or users logged in at the same time). Transferable access offers multi-channel merchants a lot more flexibility when managing store operations.  

2. Cash Drawer: A cash drawer is an important yet simple part of a retail POS system. This piece of hardware provides both security and organization to retailers. It is where cash, coins, checks and credit card receipts are stored. 

The receipt printer will send signals to the cash drawer, prompting it to open when necessary.

cash drawer

3. Barcode Scanner: Barcode scanners are an important part of most retail stores. Compared to restaurants, retailers carry a lot more inventory and need to use barcode scanners to make checkout an easier and faster process for both store employees and shoppers. Scanners use lasers to read barcode numbers unique to each SKU and enter these numbers immediately in the POS software.

While most retail POS systems should be designed specifically for barcode scanners, it is important for there to be other search methods should barcode tags get damaged or lost. Without scanners, cashiers should be able to quickly search by product codes or keyword for each item in the store.

Expert Tip! Unless a retail store has a very low number of inventory items (e.g. coffee shop), the default salesscreen mode should be designed for barcode scanners. The picture gallery touchscreen mode commonly found in tablet-based POS was traditionally designed for restaurants where the number of inventory items is very low and is generally not efficient in retail stores with more than 500 unique SKUs. While some POS providers will serve both restaurants and retailers, if the default salesscreen is designed for touchscreen picture gallery, most likely the company that developed the original software started with a restaurant POS and later retrofit it for retail.

barcode scanner

4. Receipt Printer: Once a customer pays for the items that they have purchased, cashiers will usually hand them a receipt to confirm payment. While email receipts are increasingly popular, the majority of receipts are still printed based on the data received from the POS software. 

receipts

5. Credit Card Terminal: This is the hardware that store staff use to accept debit and credit card payments. Increasingly, shoppers prefer and make the majority of their purchases with credit and debit cards. 

There are three ways that credit card terminals can accept credit or debit payments: 

1) Using chip & PIN cards: Where shoppers insert chip & PIN cards to make a purchase. This type of payment is EMV-compliant and the most secure of the 3 types.

2) Swiping card magstripes: Where shoppers swipe their cards in order to make a payment. This type of payment is not EMV compliant and opens the merchant up to chargebacks on all payments processed.

3) Near-field-communication (NFC): Where shoppers use their devices (Apple or Google Pay) or simply tap their cards to pay. This type of payment is the fastest of the 3. While tap is not as risky as magstripes (it is generally only allowed for individual payments of up to $100), in a busy store, this can be costly as the merchant is still fully liable for any chargebacks.

credit card terminal

3 Reasons Why Your Retail Store Needs a POS System

1) Faster Checkout 

checkout line

Slower checkout speed often leads to abandonment. In fact, long lines and poor checkout experience are major contributors to low shopper dissatisfaction.

Adopting a POS software that is designed for checkout speed will help speed up store operations and improve shopper satisfaction. This is especially important for busy multi-lane stores as they often deal with long line-ups.

Faster checkout is also key to increasing revenue during high season or rush periods. The longer your customers wait in line, the slower your turnover and lower your sales.

Here are some checkout features to look out for when choosing a retail POS software designed for fast checkout:

Easy navigation: Look for a software that is designed for checkout speed and minimum clicks. You shouldn’t have to leave your salescreen in order to complete a transaction.

Fast scanning speed: Retail POS software should be designed for quick barcode scanning with easy recall of your last search. Make sure that the system you’re looking at is able to handle multiple barcodes per SKU as every retail product commonly has an internal code, a shortcode, a vendor code, a manufacturer code and possibly several carton codes.

Advanced inventory search: Besides barcode scanning speed, a retail POS software designed to handle high volume inventory or a large number of transactions quickly needs to be able to have smart search functions including keyword search by description, barcode or tag should labels not be scannable, etc.

If you want more information about adopting a line busting retail POS software that is designed for checkout speed, click here

2) Increased Mobility 

POS mobility

Retail POS systems – cloud POS software in particular, provide retailers with more flexibility and mobility. As data is stored in the cloud, store owners can access their business information around the clock from anywhere – even if they are not physically in the store. They can view inventory levels, tax reports and sales data right from the comfort of home or even on vacation. Well-designed cloud POS software can also function on any device – from tablets, laptops to smartphones. 

3) The Ability to Use the POS Data for Retail Marketing 

POS data

POS data is critical to the success of any business. This is because data provides retailers with the tools to effectively manage inventory, sales, and finances.

Besides standard sales and inventory reports, modern cloud-based retail POS systems help store owners sell more using their own POS data. Because cloud POS are particularly good at integrating with other cloud solutions, real-time store data can be shared other solutions such as e-commerce platforms, shipping services or listings such as Google My Business, which help improve SEO and drive more local foot traffic to stores.


We will be posting more POS tips in the upcoming weeks. 

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