Point of Sale technology, also known as POS, really has changed the way the world operates. Of course it originally was designed back in the seventies to provide retailers with better inventory tracking and control, but this technology has literally touched and changed the life of every consumer in the world.

POS, better known as ‘point of sale’ technology has been around since the 1970’s. Yet, it didn’t become available to Mom and Pop sized businesses, in an easy and affordable manner, until the 1990’s. While POS boomed and evolved throughout the ’80’s, many really small businesses with revenues less than ten million per year, didn’t always cozy up to the costs associated with POS.

Today, consumers don’t have to always rely on another person to help them initiate or complete a transaction. POS terminals now allow travelers to pick up a car at the airport without ever checking in with another human being. Major grocery and hardware retailers have POS check-outs that allow customers to scan their own items and pay a machine without ever having to make contact with a store employee.

One of the biggest benefits for retailers has been the ability to provide a more personalized level of service to their customers. Through POS technology, a grocery store can offer a customer a special savings card that offers deeper discounts every time they shop. By tracking what the customer’s buying history entails, the grocer can automatically offer each shopper a customized set of discount coupons at check-out, in addition to store-wide sales.

Clearly one of the major impacts that POS technology has had on the retail industry is the ability to reduce staff and associated costs. Originally, POS systems were meant to provide better inventory tracking and deliver faster service. Both goals were achieved early on in the history of this technology. Yet there was a continuous drive to make the systems do more and do it faster.

POS systems have evolved to become so highly sophisticated that a hotel can assign wake-up calls, place a credit card on file and even provide specific instructions to staff electronically. In fact, most consumers take POS completely for granted. In a world that has become accustomed to getting more and getting it faster and faster, consumers are POS’s biggest fan!

Clearly the most significant impact on the retail industry has been that Point of Sale technology has allowed retailers to provide a more personalized shopping experience for their customers. The effect of POS on the retail industry is evident in its ability to reduce costs, maintain inventory and provide accuracy in bookkeeping and ordering. But the overall effects are based on the fact that a retailer can service their customers better and faster and that’s what keeps their customers coming back for more!

Want to find out more about POS, then visit Aralco’s site on how to choose the best POS system for your needs.