What Are the Advantages of Mobile POS Systems for Flea Market and Craft Fair Vendors?
Point-of – sale software (POS) is in continuous development. Clunky cash registers can’t keep up. Brick-and -mortar stores are embracing leaner solutions running on mobile devices in lieu of complex installations costing thousands of dollars.
But it’s not just retail stores that are interested in POS systems — online shop owners who sell at craft fairs, trade shows, and farmers markets need cheap, easy-to-use point-of – sale solutions too.
So what exactly is software point of sale, how do you know if you need it, and how do you choose the right tool for your market business? Let’s take a look.
What is a POS System?
Point of sale software is what brick and mortar stores use to make in-person transactions. Often it’s a cash register, a computer, or even a tablet where cashiers input items, calculate the final cost, and perform the financial transaction. Most POS apps can also interact with inventory monitors too to keep everything in order.
Many big-box stores have wildly complicated and costly POS solutions, even some specially designed to suit their needs. Independent retailers are moving away from these conventional POS structures and toward point-of – sale applications focused on the cloud.
Types of POS System
There are two main POS software types: on-premise, and cloud-based. On-premise POS software requires that you be on-site to use it. The most common on-premise POS are credit card terminals.
Cloud-based POS software provides greater flexibility, as you can access the dashboard using any connected, compatible device. Cloud-based POS software is becoming more mainstream — the market has been valued at around $1.29 billion for 2019, with an expected growth rate of over 21.38 percent by 2026.
A cloud-based POS enables you to conduct sales and check in even when you’re not at the store. You access it directly from the internet, and it is often compatible with most of your tech stack’s POS hardware (cash drawers, printers, etc.) and other tools. This is great if you are a small business that, along with the occasional in-person event, sells in a store and online.
The Advantages of a Cloud POS System Over Cash For Bricks and Mortar Transactions Out of Store
Cash used to be king, but that’s not the case anymore. In the light of the COVID-19 pandemic some stores aren’t even accepting cash right now.
However, venues like flea markets, farmers markets and craft fairs were traditionally cash only affairs. Sticking to that may damage your sales outlook today though, as people just don’t carry cash anymore.
More customers than ever are using their smartphones to pay at checkout—whether through a service like Apple Pay and Google Pay or credit card details stored in a digital wallet. These same customers now head out to these traditionally cash only retail venues expecting to be able to pay the same way.
According to a recent report, only 17% of global payments will be made using cash by 2022. Digital wallet usage is projected to go up to 28% during the same period, to hit 1.5 billion users. And consider the impact of the COVID-19 pandemic on top of that—it has accelerated the need for contactless merchant-customer interactions.
Digital wallet payments are undeniably convenient for shoppers – the tap-and-go option allows customers to leave their physical wallet at home and feel safer about shopping in general.
Most small retailers don’t want to spend a fortune on fancy tech if they only sell on weekends. And given that they may have little to no Wi-Fi a traditional credit card terminal might not work anyway. Which is where a take it anywhere mobile POS system can be a big help.
Other Advantages of Mobile POS Systems for Vendors
Payment convenience and increased in person sales are not the only advantages a mobile POS system can offer to ‘occasional retailers’. A POS should also help you easily collect, track, and manage customer information.
Access to these details can help you keep marketing to customers long after they’ve left your stall, or, if you don’t want to handle online sales, inform them when you are due back at their favorite market and just what you’ll have on offer, valuable things that simply handing over a business card could never do!