Retailers have been slow in keeping up with advancements in mobile devices and other technologies that make “retail anywhere” possible. Many retailers are still using POS software that was not designed to support multiple channels. These POS architectures do not deliver a consistent user experience or allow retailers to adapt to new technology trends and devices.
According to Gartner and Accenture research, it takes two to five years to bring the latest POS functions, such as retail public social networks or mobile coupons, into mainstream adoption. Traditional brick and mortar retailers struggle the most as they compete for customer loyalty and wallet share with similar retailers and online pure plays. Retailers run the risk of the productivity plateau if they do not adopt POS systems that can keep pace with customer demands.
Mobile customers are rapidly embracing technology, and they expect the retailers to do the same. In response, retailers must address the critical imperatives and build a flexible POS architecture that can meet the ever-growing needs of the digitally empowered customer.