mPOS & Customer Value
Value and engagement are driving tablet adoption in retail
There's little arguing the impact mobile devices have had on the everyday consumer landscape. However, shoppers often don't realize the impact the same technology has on their in-store buying experience. Retailers have recently discovered the added value mobile point-of-sale systems bring to not only their daily operation, but to their customers as well.
Adding value to their brand is a primary driver in tablet adoption among retailers. Providing shoppers with a more pleasurable and relevant buying experience is a strong way to improve recurring business, a main contributor to bottom-line revenue. The correlation between implementing mPOS and improving brand value has been established, as more merchants - especially smaller businesses - are adopting tablet-based technology quickly.
In 2012, 59 percent of respondents in a Retail Info Systems News™ said they were either currently testing tablets or planed on testing that year. The reasons for potential adoption were as follows:
- Nearly 52 percent of respondents said they wanted to improve sales floor support
- 48 percent said they planned on updating and revitalizing the in-store experience
- More than 46 percent of retailers wanted to increase comp-store sales
- 42 percent had plans of connecting to enterprise apps (1)
RIS News™ Editor-in-Chief Joe Skorupa said tablets were a no-brainer decision.
"Our research reveals that tablet adoption is no longer a question for retailers," Skorupa said in a release. "They know they are going to deploy tablets in the near-term, it's just a matter of what types of tablets and how they'll integrate them into the store experience."
Tablets are improving the retail experience.
Tablets in retail today
More recently, AT&T® and Chetan Sharma Consulting™ joint-study found small-business tablet penetration was more than 65 percent in 2014 (2). Consumer adoption of mobile technology is growing at an exponential pace, and it seems as if retailers are doing their due diligence to keep pace with this growing demand. Retailers now understand the benefits of mPOS integration with everyday operations. Separate Forrester ResearchTM statistics show that tablet adoption in the business landscape isn't just a fad, either. In fact, Forrester projects tablet sales in the enterprise market will reach $68 million a year, or 18 percent of domestic tablet sales (3).
Certainly, tablet adoption at the enterprise level differs from the small-business landscape, but local and regional retailers are in poll position to add tablet technology to their infrastructure. Not only does mPOS add value to the customer experience and the retailer brand, it also improves back-end operational aspects of a company. From a business perspective, mobility provides local merchants with quicker access to shoppers and information. In fact, 65 percent of AT&T's® small-business respondents said fast access to contacts and information was an important factor when considering mobility (2).
Tablet POS adoption on the local merchant level doesn't have to be an extensive overhaul. Since small businesses are a small operation, mPOS adoption is a relatively low upfront investment. The easy-to-use technology and seamless integration make tablet technology in retail a must-have aspect of business. Local and regional retailers can use tablets to drive sales and drive better customer engagement, as well as improve back-end operations.
1. RIS News, http://www.businesswire.com/news/home/20120116005252/en/National-Survey-Retailers-Testing-In-Store-Tablets-2012#.VNjxhvnF-RM (Jan. 16, 2012)
2. AT&T, https://bizcircle.att.com/articles/smb-leading-technology-adoption-believe/#fbid=qC2BdaUmu3n (May 22, 2014)
3. Forrester, http://blogs.forrester.com/jp_gownder/13-08-02-global_business_and_consumer_tablet_forecast_update_2013_to_2017_0 (Aug. 5, 2013)
Retail Info Systems News™, RIS News™, AT&T®, Chetan Sharma Consulting™, and Forrester Research™ are registered or unregistered marks belonging to their own respective owners who are unaffiliated with and do not sponsor Vantiv Integrated Payments, LLC.
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