While the economic landscape has been anything but stable, with international trade tensions and the national budget fallout spooking the market before rebounding when the VAT increase was later withdrawn, the retail sector is showing remarkable resilience.
This is according to Ecentric Payment Systems’ Rory Bosman, who says many retailers proved at the end of last year that investing in a superior retail experience reinforces a growing belief in the sector staging a powerful comeback.
Bosman says that mobile point of sale (mPOS) technology is a gateway to the modern retail experience, which consumers are looking for.
“Even during times of peak demand where online commerce leads the charge, such as the rush between the beginning of November to Christmas Eve, in-store retail is undergoing a powerful resurgence.
“In-store revenue as a proportion of total revenue during that period saw a whopping 109,4% surge, doubling from 5,3% to 11,1% of total holiday revenue,” Bosman says.
He adds that this is especially astounding because the period in question coincides with Black Friday, Cyber Monday and discounts leading up to Christmas – yet consumers were still choosing to purchase goods in-store.
“Our data in the Black Friday index shows us that retailers who capitalised on the peak moments saw the biggest gains. And that’s the crux of it, right? Just how do you capitalise on peak moments when the store is packed to capacity?”
Bosman believes that mPOS is a gateway to a modern retail experience because it goes well beyond just a mobile point of sale. “It is a sophisticated technology architecture that reimagines retail. It redefines actual interaction technologies.
“At its core, mPOS integrates cloud-based processing platforms with advanced technologies such as machine learning to enable real-time data interpretation and transactional intelligence. This encompasses secure payment gateways, biometric authentication protocols, predictive analytics, and more, to transform traditional retail spaces into intelligent engagement environments.”
The outcome is that a well-designed and -implemented mPOS transforms retail experiences, Bosman concludes. “And so it enables a modern retail experience, which means more efficient, personalised customer interactions, while optimising operations for retailers.”
He adds that a well-designed mPOS needs to enable practical solutions. “For example, in a crowded store elevating customer experience is non-negotiable. You don’t want customers to leave their trolleys and walk out. So shortening queue times is paramount. In addition to this, the technology allows retailers to optimise their return per square metre, and we all know that every square metre in a store is like gold – especially in the context of big points of sale that can take up significant floor area.”
But the benefits go beyond shortening queues and optimising space. “mPOS enables in-aisle product information and purchasing. It supports omnichannel experiences, and as the key insights from the Black Friday Index make clear, we know omnichannel shopping is the future,” says Bosman.
It is inevitable that every store won’t have exactly what a customer is looking for every time, so mPOS technology enables access to broader product catalogues. “With space constraints in mind, the retailer is able to engage the customer with an entire catalogue of products beyond just physical store inventory. These products can be selected, paid for, and delivered to the store or the customer’s house depending on the product type and retail category.
“Beyond this, mPOS enables the selling of digital products, which opens up new revenue streams from value-added services.”
One of the key strengths of e-commerce is personalisation. mPOS brings that level of customer knowledge into the physical store. Knowing who the customer is, and their past behaviour both online and in-store, staff are equipped not only to offer them what they want, but also to upsell and cross-sell based on real-time and predictive intelligence.
“We cannot underestimate the power of this capability,” says Bosman. “The Black Friday Index showed that personal recommendations and targeted deals will set leaders apart. It is vital, in 2025 and beyond, that retailers use data for targeted promotions.”
In peak periods, where customer service and experience can be the difference between retaining or losing a customer, mPOS can improve operations. “It is an intelligent system that enables real-time stock tracking which improves inventory management. If we think about high-demand periods, inventory management is absolutely critical to capitalise on the increased foot volume.”