Retail is a notoriously competitive industry. Retailers must incorporate the latest technology to increase sales, efficiency, and income – while reducing costs.
The retail sector has undergone a significant digital transformation, and with some regions of India still recovering from the slowdown of the pandemic, the retail sector must prepare for a challenging and unpredictable future.
Even though it is hard to entirely future-proof their business, retailers can prepare for the unforeseen by making use of technology that fosters agility and flexibility within stores.
A notable example of digital tools is retail point of sale (POS) systems, which refer to the systems in place where retail transactions are conducted, such as self-service portals, cashier systems, or even mobile infrastructure. Simply installing this technology, however, is not enough. Customers today are quick to switch brands and transfer to competitor stores, spurned on by even the most minor inconveniences such as a buggy self-checkout.
A seamless digital experience is essential for success. Therefore, retailers must ensure their technology is faultless, intuitive, and solves a real customer need.
Time is Money
Recently, POS competition has increased as merchants compete for improved efficiency, convenience, and ease of payment.
POS systems need to be carefully and regularly tested, just like any other software-driven technology, to make sure they remain reliable. This is not a straightforward checkbox exercise!
Retailers will frequently add new features, such as mobile ordering, fresh offers, and contactless payments on top of existing and well-established platforms, as opposed to replacing an outdated unit – due to the lower cost and lesser time taken for upgrading rather than replacing. However, there comes a saturation point at which it becomes imperative for retailers to completely overhaul their existing systems. The question retailers must ask themselves is, “is it time to make the switch?”.
Innovation is driven by automated testing
A one-size-fits-all testing model won’t work because of the varying complexity of systems in place. However, businesses can avoid the stress of this time-consuming effort thanks to clever automated testing.
Retailers must have complete control over the testing process, as they are able to interact with digital devices from the point-of-view of the end-user, i.e. the customer.
Low-code methods must be employed so that non-technical staff can be easily educated to build tests without prior programming experience.
This would also allow retailers to swiftly implement testing procedures across all platforms, enhancing visibility while preserving resources. As an end result, this would enable merchants to become flexible, and ready to respond quicker than rivals to unforeseen circumstances.
The modern retail sector is competitive and more digitized than ever before. Technology adoption is no longer a “nice-to-have”, but a “must-have”! Modern tools such as digital payment platforms and supply chain solutions will now determine how well a business can perform. As platforms such as SwitchPe steadily become the norm for retail operations, retailers should embrace these solutions to maintain a competitive edge and grow faster than ever before!