Small and medium size retailers have often struggled to bridge the gap with their larger competitors when it comes to implementing technology. According to Julian Fisher, CEO and founder of Jisp, and Stephen Back, Managing Director, Marin’s UK & Ireland, SMEs can now use smart technology for a fraction of the price and with the same results as the big retail.
Fisher and Back discussed in a video interview with The Logistics Point (watch the full video below) the possibilities that digital Point-of-Sale solutions provide to retailers. Firstly, as consumers are looking for faster ways to interact with brands, companies are opening their doors to sales opportunities and promotions by implementing digital solutions. According to Fisher the biggest advantage for retailers and brands for Digital PoS is the ability to gather real time data about who buys what, when and where.
Fisher’s words are echoed by Back, who manages a company specifically focusing at the Point-of-Sale experience. ‘Traditionally brands find it very difficult to understand who is buying their products,’ explains Back and continues, ‘With the digitally enabled PoS we are able not only
to capture what is being bought but also the demographics, their age and gender.’
All of that information is of extreme importance to brands that are looking to better connect to their consumers. In addition, the digital PoS allows consumers to understand the story of the product better and engage in promotions faster and deeper. For retailers the benefits come from receiving any payments straight away and not having to wait for the end of a promotion.
Back talks about the time when retailers and brands had to deal with paper coupons and how marrying up PoS and digital together has sped up the whole process. Due to Covid more consumers are looking at paperless and contactless solutions and retailers need to be able to respond to this demand. Both Jisp and Marin’s are planning to expand the work they do together. With the digital PoS they will be able to provide more security to brands that retailers are compliant with pre agreed terms and that customers are actually interacting with their products.
‘Our collaboration will continue with developing opportunities to expand how brands can promote their products,’ finishes Fisher. For Back the solution will be able to offer more than just promotions to both brands and consumers and be a sustainable way to bring retail into the modern age.✷