technological innovations at your point of sale

4 technological innovations that you should implement at your point of sale and why

Technology doesn’t stop changing at the same rate as society evolves. Innovations that appear on the market every time play a more important role in the life of people. Like brand or company, if you want to be update and still be competitive with respect to the sector, it’s important that you will be able to innovate and adapt technology innovations to your point of sale.

However, within this world of possibilities, it is sometimes complicated to know in which innovations you should invest your business efforts within the retail industry. At Cosin Consulting, as technological consultancy specialized in retail, we recommend you that you have to optimize your resources. Here we recommend you 4 technologies to implement in your points of sale, but always remember to measure your results. To choose a strategy that must be coherent with your business, your brand and your values is essential.

 

1. Artificial intelligence

 

Artificial intelligence is a branch of informatics that works on the development of intelligence agents, systems that are able to reason, learn and act in an autonomous way. Thanks to AI systems it’s possible to automate tasks, improve decisions and develop new products and services.

AI is every time more common to the majority of consumers on the day by day of the people. We can use artificial intelligence to improve the buying experience of customers, like a point of sale innovation, when it’s used to make customized recommendations based on their previous buying behavior. It is also used to answer pre-sale questions at the point of sale, both physical and online, and to resolve customer problems.

An example of how AI will be able to help the retail sector is identifying those customers who are more likely or more willing to buy a particular product. Once identified, we can offer them customized recommendations. We could also use this technology to resolve doubts or problems related to orders or deliveries.

Inteligencia artificial innovaciones tecnológicas para punto de venta

 

2. Augmented reality (AR) and virtual reality (VR)

 

In the first place, it is important to distinguish between augmented reality and virtual reality. Augmented realty overlays digital information to the view of the real world, doing and improving this one. On the augmented reality you don’t lose the contact with the environment that is around you. Instead, on the virtual reality, a different, totally immersive experience is sought. In this case, a virtual reality is created parallel to the environment and aims to generate completely new experiences.

Both augmented reality (AR) and virtual reality (VR) can be used to create more immersive and engaging shopping experiences. These technologies allow customers to try products before they buy them, learn about new products and services offered by retailers, and explore different environments.

 

The best example of how AR can be integrated into retail is in home decorating stores. We can use our mobile phones to see how any piece of furniture in the catalog would look in our home before we buy it. In the fashion industry, it also allows us as customers to virtually try on any garment or accessory. Mirrors or smart fitting rooms are already a reality in the most innovative stores.
 
VR can be implemented to allow customers to take virtual tours of stores or showrooms, or to experience products or services in a way that would not be possible in the real world. 
 
 

3. Chatbots

 

Chatbots are computer programs that simulate conversations with human users, usually over the Internet. These bots can be programmed with a set of rules, or they can use artificial intelligence to learn and adapt to individual conversations.

In retail, they can be used to provide customer support 24 hours a day, 7 days a week through online points of sale. They are used to answer questions, solve problems, and make recommendations. But they can also act as in-store assistants through interactive in-store displays if you have a digital strategy in place at your points of sale. We can use chatbots to answer pre-programmed questions about products or services and help customers with ordering issues.

chatbot innovaciones tecnológicas para punto de venta
 

4. Big Data

 
When we talk about big data, we are referring to the large volumes of data, both structured and unstructured, that inundate organizations on a daily basis. Big data is used to improve decision making, identify new opportunities, and increase efficiency. Companies that are able to harness the potential of big data have a significant competitive advantage over their competitors.
 
Within the retail world, Big Data can be used to collect and analyze large amounts of customer data. This makes it possible to personalize the shopping experience, identify trends and make informed business decisions.
 
At points of sale, we can use Big Data to identify those products that are most sought after by customers. In order to determine the optimal prices of our catalog through the information collected in our databases and to know which customers are more likely to buy a particular product. Through their customer file we can provide them with personalized recommendations.

 

We can use big data to identify which products are most in demand by customers. Through the information collected in our databases, we can determine the optimal prices for our catalog and know which customers are more likely to buy a particular product. Through their customer file, we can provide them with personalized recommendations.
 
If you are interested in learning more about how you can implement these technological innovations in your brand and connect them to your POS management system and ERP, please contact us. At Cosin Consulting, as an expert retail consulting firm, we can help you implement your digital strategy through these technologies and improve your results. Without a doubt, we bet on Retail Pro POS software integrated with JogoTech as the winning combination to have a good phygital strategy, as we saw in the WOW Concept case study.