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Point of Sale (POS) Software Market Advancing the Growth Globally by Shopify

The point of sale(POS) software market is witnessing an unprecedented boom in recent years. Almost every online store is highly relying on POS software to facilitate the payments by their customers. Hiring a Shopify development company to integrate POS software into your store will be one of the wisest decisions you will ever take for your online business.

If we talk about the POS market for Shopify, recent studies show scope for immense growth in coming years because the dominance of Shopify has increased manifold. 

There are hundreds of POS software helping even small businesses secure online sales. If you wish to establish yourself as an omnichannel retailer, you need to utilize the flexibility of POS software. Today we will provide you with insights into the growing POS software market and its impact on the Shopify universe. This article will help you decide why you need to hire Shopify experts to enjoy the inherent benefits of using POS in your stores.

What is the Point of Sale software, and how does it work?

You can consider a POS as a system that facilitates the checkouts and payments by the customers on any online store. Though the use of POS doesn’t restrict to only online stores, we will stick to it as they are the focus of the whole discussion. If you wish to be more specific, we can call it hardware and software that enable the users to make payments for completing their purchases.

You can hire a Shopify development company to integrate POS software into your store. Apart from facilitating the payments, the POS software can also help you manage the inventory, customer data, and staff. If you are running both the physical retail store and online store, POS software can help you connect both stores without having two separate systems.

The basic functionality of any POS system is to calculate the payments for the products that users wish to buy. It also helps to process them for completing the transactions. The below steps will help you understand the working of a POS system:-

  • The customers select the products and proceed to buy them.
  • The POS system calculates the total price that includes all items selected by the users.
  • The customers make the payments using bank cards, loyalty points, or any other prescribed method.
  • Once the payment is done, the sale completes, and products get shipped to the users.

Some promising facts about the growth of the POS software market

  • It is the right time to invest in POS software because studies project the market growth to around USD 34.4 billion by 2026.
  • More than 80% of online buyers prefer to use digital payments, thus having a POS will promote more sales using cashless payment modes.
  • More than 60% of store owners using POS say that the reports generated by such software help to get a bird’s eye view of business operations.
  • North America is the most crucial playground for POS software. It holds the largest share in the retail POS market.
  • As per recent reports, the grocery stores will witness higher adoption of the POS systems in the coming years.
  • Apart from Shopify POS, other players like Diebold Nixdorf (US), Ingenico (France), Intuit (US), NCR Corporation (US), SAP (Germany), Verifone (US), PAX Technology (Hong Kong), and Square (US) also witnessed tremendous growth in recent years.

What are the benefits of using POS on your Shopify stores?

The industry has seen an unprecedented rise in the use of POS software by Shopify stores in recent years. Almost every big or small store owner wants to integrate a good POS software due to the following benefits:-

  • Speed up the Sales

Minimizing the time taken by the users to complete their purchase is a priority for every online store owner. A similar rule applies to the Shopify stores too, and POS can become a solution for it. As per the surveys, more than 60% of customers abandon their orders during lengthy checkout processes.

  • Better Inventory Control

If you choose to use a good POS software, it will help you with features like inventory management so that you can know how much stock is available on your website. When you have a complete track of your inventory, order fulfilment becomes less challenging. It also helps to increase the efficiency of the other business operations.

  • Benefit from a Marketing point of view

When you integrate POS software into your Shopify store, you can get valuable customer data. You can use such data to market your products and services. Being a Shopify store owner, you will also get data to analyze customer behaviour. You can find out the best-selling products and key areas to focus on.

Conclusion

These were some insights about the growth of the POS market and opportunities it can help you avail. Hire Shopify expert today to integrate one of the best POS software. Ensure to hire the developer from a reputed Shopify development company for the best benefits.

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