The ring of mechanical cash registers is as old-fashioned as delivery by horse and buggy in this Internet age. But simply having a connected point-of-sale (POS) system in your retail establishment doesn’t mean your payment methods are future-proofed. As customer expectations change and competition increases, businesses have to adapt to the latest technology to keep up, expand, and grow. Key to meeting these challenges is high speed, high data connectivity with 4G LTE cellular as the backbone of your point-of-sale system.
With the rapid growth of online and mobile commerce, connected POS options need to feed into larger databases for inventory management, supply chain management, customer relationship management, and Big Data analytics for targeted marketing and sales efforts. A basic wired system can’t cut it, and even Wi-Fi has disadvantages such as less than broadband speeds and security problems. 4G LTE can better meet the demands for real-time, secure transactions of financial and personal data.
Retail Goes Unplugged With IoT
Even with online sales, brick-and-mortar storefronts are still relevant for many shoppers around the world. In fact, new styles of in-person shopping are literally ‘popping up’ all over. The trend for pop-up shops has gained traction with big and small retailers and with consumers. These temporary stores may be themed around a specific product line or a holiday sale (such as Halloween or Christmas). Even celebrities have gotten in on the act – Kanye West and Rihanna each had pop-up shops to launch their fashion lines, and Elton John does an annual pop-up shop to clear out his closet and raise money for charity. The spaces used for these can be as small as a kiosk within a traditional shopping mall or a public square or an entire vacant business or retail location.
High data POS is essential to make this kind of innovative shopping experience work in real-time. These events can draw huge crowds in a short time, requiring fast throughput for secure sales transactions. Plus, the business will want to capture customer information on the backend for future marketing potential, so fast cloud connectivity is crucial.
Reliability and Security Are Essential
Even if your business isn’t ready to create a pop-up store, more traditional retail kiosks and stores are using LTE connectivity to power real-time POS systems. The speed is of immediate benefit to customers on the front-end, while the high data capabilities provide back-end value in greater efficiencies and business optimization. And if you have multiple retail locations, having a high speed, high data connection between each outlet will increase productivity and reduce overhead.
While Wi-Fi is obviously not fast, secure, or scalable enough for serious retail POS systems, it’s also not feasible to stick with older 2G or 3G technologies for much longer. 4G LTE connectivity is widespread and affordable enough to make now the time to upgrade to this reliable, secure solution. The value for retail business includes high data, faster speeds, low latency, and high spectrum efficiency – meaning higher network capacity. All of this translates into improved cost efficiency.
If you’re ready to get high data for your business, sign up with Neo and get your LTE SIMs within 24 hours.