With around one million units, the number of insurance companies in Germany has remained constant for years. However, many of them have had their best times behind them: according to the EHI Retail Institute, on average, the cash registers are 5.2 years old. There is often a lack of new functions that make the business more efficient, economic and competitive. Therefore, many retailers want to modernize their POS systems in the short and medium term.

Share
Tweet
Share

For its cash register study, the research institute surveyed 51 retailers from the DACH region, whose 62,000 branches generated sales of around 226 billion euros in 2017. 86 percent of entrepreneurs want to invest in hardware over the next few years. New software - on average, the operating systems are almost seven years old - will be available for two-thirds of these companies in the next two years. Half of the companies are relying on a new system. After all, hardware and software technology has made quantum leaps in recent years. Gone are the times when the cash register simply added up the sums. Today’s systems can be installed on tablets, operated by touch and combine merchandise management, customer administration, customer loyalty and online shop. Especially in times of Multi- and Omnichannel a real plus.

Retailers want cash register systems to be omni-channel-capable

The omnichannel capability of the new cash register system is also at the top of the wish list for 46 percent of the entrepreneurs surveyed. State-of-the-art technology makes it possible to link all available sales channels such as stationary shops, online shops or catalogues. As the broadband connectivity of the branches in German-speaking countries is becoming more and more popular, the basic prerequisite for fast communication between the head office and the branch office, which is important for Omnichannel services, has been fulfilled in many places. 70 percent of respondents are already exchanging data in real time or near-time.

Touch screen solutions are in demand

When deciding on a new system, dealers are looking to the future. 62 percent of them want to further increase the number of cashless purchases. For this reason, retailers pay particular attention to the flexibility of the system when selecting new cash register systems. It is particularly important to them that the software can be adapted quickly. In addition, there is a trend towards touch screens all companies surveyed want to use this solution in the future. Four out of five want to do without a supporting keyboard. Many companies go one step further and see the cash register of the future to be mobile. Today, around a quarter of companies already uses mobile devices with cash register functions and 69 percent are planning to do the same in the future.

Increase in turnover and profitability

The winners of the retail technology awards europe, which were honored at the EuroCis 2018 trade fair at the end of February, show how innovative cash register systems can change the face of the retail industry. The award winner Halfords, a British dealer for car and bicycle products, supports its employees with a new checkout solution that enables stationary and mobile use via tablet and thus a high degree of flexibility in terms of space. This system increased sales in the stores and saved time for store staff. A new mobile self-scanning system shortens the queues at the other prize-winning food market Isargärten in Munich. The customer can scan his articles with his own smartphone via an app. The app generates a QR code, which is read by the cashier via hand scanner and transmits the items to the checkout.

All in one: Cash register system supports local retailers

In 2017, a particularly innovative cash register system was honored with the Oscar of the German corporate world, the German Stevie Award, in several categories: the iPad cash register system from Inventor. The all-in-one solution for the retail trade is cash register, merchandise management, online shop and preparatory bookkeeping in one, enabling local shopping by bringing online and offline trading together. Thanks to the connection to an online shop and Internet marketplaces, stationary retailers can also sell their products via the Internet and customers can shop across channels. Inventorum‘s aim is to maintain the local retail trade and thus the cityscape. Founder and Managing Director Christoph Brem is delighted about the award: “We are very pleased with the particular appreciation of our solution, especially in the category of Best New Product. My team and I have set ourselves the goal of making it easier for retailers to find their way into the digital e-commerce world. For us, the profit is a recognition of our commitment. The fact that our solution was also able to win the jury’s approval against the numerous competitors is motivation for us to continue on this path.”

 

Link: www.ehi.org

Image:

EHI Retail Institute

EuroCIs 18

//KH