Inefficiencies and inaccuracies are uncontrolled in a retail store setting. A recent study revealed that a higher percentage of retailers mention lengthy checkout times as a significant pain point in-store, contributing to lost sales and decreased customer satisfaction.
Do retailers face even greater challenges due to the limitations of traditional point-of-sale systems?
Absolutely.
Traditional point-of-sale terminals use manual barcode scanners upon checkout or even self-checkout counters without proper technology, are still time-consuming, have limited detailed reporting, and are prone to errors, leading to inventory discrepancies and poor customer experience.
Even if customers have a satisfying time browsing and finding everything they need inside a store, encountering a long, slow-moving checkout line can ruin the entire experience.
In such a competitive and dynamic demand in the retail industry, retailers need innovative and advanced solutions to achieve better inventory control, greater visibility, and seamless experience.
RFID Technology and Its Scope
Radio Frequency Identification, or RFID technology, uses electromagnetic waves to automatically identify and track tags attached to items. The RFID reader captures the stored information from the RFID tag and saves it in a database.
RFID technology has transformed various industries by providing numerous benefits, including seamless inventory management, access control, and tracking.
Mostly in retail, RFID tags are used to monitor product movement to acquire accurate inventory data. These tags, equipped with microchips, communicate with RFID readers to transmit RFID data, enabling real-time visibility into stock levels and product locations.
Moreover, with its ability to simplify various aspects of retail operations, it has been increasingly being utilized by advanced retail RFID software applications.
The RFID POS System explained...
In traditional brick-and-mortar stores, point-of-sale (POS) systems have long been the basis of retail transactions, but they have their limitations.
With a retail software application developed by TRAZE, which employs RFID technology integration, in-store point-of-sale or POS systems have evolved and offer more advanced capabilities.
RFID-enabled point-of-sale terminals can scan multiple items simultaneously without the need for line-of-sight, allowing customers to simply place their items on the counter for instant recognition. This speeds up the transaction process, minimizes human error, and ensures inventory accuracy. The RFID data collected during checkout is instantly updated in its inventory management system, providing real-time inventory tracking.
Moreover, retailers can track an item's location throughout the store, and the RFID software helps in loss prevention to reduce the incidence of stolen items.
While aiming to provide customers with a frictionless checkout experience and an improved customer experience, TRAZE extends the idea of allowing retailers and their customers to shop and pay conveniently on multiple channels.
The impact of RFID-enabled mPOS systems goes beyond convenience
Can integrating an RFID system into mPOS provide a transformative approach to retail store operations?
Definitely.
It transforms the essence of retail, putting efficiency and ease into every transaction.
TRAZE innovated a traditional full-built point-of-sale system into a cost-effective cloud-based solution, creating a tangible reality with a mobile phone or any handheld device that is enabled by the integration of RFID technology, supporting omnichannel fulfillment.
It offers a range of optional choices to customize the checkout solutions according to specific needs and preferences.
Sales employees can instantly check stock levels and product information without leaving the sales floor. Products equipped with RFID tags are quickly detected by the mPOS, speeding up the checkout process in seconds.
TRAZE also ensures that the mobile POS solution with RFID allows for a more interactive and personalized customer shopping experience.
System setup
Mobile point-of-sale devices are configured to communicate with the RFID reader and process transactions efficiently. The devices are also linked with the store's inventory management system to ensure real-time updates.
Checkout Initiation
As products are brought near the mPOS device, the products are automatically scanned simultaneously, and the items are added to the virtual shopping cart. The mPOS dashboard displays all scanned items for the customer’s review, ensuring accuracy before proceeding to payment.
Moreover, TRAZE offers a user-perspective approach of providing customers with a personalized link to their shopping cart, allowing them to review and complete their purchases online after their in-store visit.
Payment Process
Customers can select their preferred payment method.
The mobile point-of-sale or mPOS processes the payment through secured payment services that are unified and cloud-based. Customers can have a digital receipt sent to their email or mobile device or request a printed receipt if needed.
Fortunately, TRAZE Pay supports various payment methods like Nets and Verifone, Softpay, Klarna, Walley, and Vipps.
Secured. Fast. Efficient
Transforming retail comes into various aspects, such as transforming a single store. When a goal is straightforward, such as providing revolutionized store operations, embracing this technology should come first.
Mediaset's partnership with TRAZE ensures that the mPOS solution's work processes are secured and very efficient, and it adapts to the store's existing ERP systems so that retailers can overcome the limitations of traditional point-of-sale systems.
Moreover, it's a strategic move towards in-store future-proofing, embracing RFID-enabled mobile POS to optimize operations into a model of modern efficiency.
