CDE Infographic: Mobile POS is Changing Retail Forever
Our partner, CDE Services Inc., recently published an infographic titled, The Mobile POS is Changing Retail Forever. The article tells the story of how mPOS solutions have changed the retail landscape over the last 5 years alone. It’s a great read – we highly recommend you check it out.
Here are a few of most interesting stats in the article:
- mPOS sales have grown 9.2% per year, while traditional POS sales have fallen 2.5% per year.
- There are expected to be 27.7 million mPOS devices in circulation in the U.S. alone by 2021.
- 28% of retail workers say that mPOS increases the number of products a customer buys.
- 43% of stores using mPOS have downsized cash wraps.
- 62% of retail workers say mPOS has made their jobs easier.
Our take: As mPOS applications and mobile/tablet hardware gets better (thanks to the competitive landscape and investment in the mPOS and tablet POS industries), merchants are more inclined to try them due to their ease-of-use, easy set-up, mobile and countertop capabilities, and sleek, modern presentation. There are a ton of case studies about how mPOS solutions actually help increase sales.
We actually discussed this during our RetailNOW Panel as well. One of the biggest consumer trends these days is to go to a store, try something on, and then go on your phone to research if someone else has the same product for a cheaper price. Retail stores are essentially paying to showroom their goods only to have consumers purchase it elsewhere. But with mPOS, businesses can actually make sales in-aisle providing an extra level of convenience and making it harder for consumers to showroom.
Click Here to Read the Full Infographic. Thanks, CDE!