Augmented reality is also known as AR as it’s more popularly known, began to truly impress us with its possibilities onto us through the release in the form of the Pokemon Go app. It has been a part of various areas of our lives since. Most people aren’t aware that they’re making use of AR like, for instance, the ever-popular Snapchat filters are an excellent illustration of augmented realities. Today, the increased involvement and interaction AR offers are being used in the retail industry which allows brands to deliver an enhanced experience for customers.
We look at what’s in store for POS software and examine how the most recent changes to POS have shaped the way we buy and sell in the future.
To say that the technology behind points of sale (POS) software is rapidly changing–as are the companies that utilize these systems — is an understatement. Checkout-free and shopping without cash are now available for physical stores, while Augmented Reality is becoming a favored new method of selling products online.
The consumer goods, retail toys, entertainment, and retail industries are battling multiple marketplace pressures. It may take several trials and iterations before a specific product or line is approved to be produced, and speed to market is essential to maximize margins. In the midst of the digital revolution, businesses have to come up with new strategies to grab attention from customers and communicate information in a way that is compelling.
What is AR and its Functionalities?
Augmented reality technology is expected to see an unprecedented increase in the year 2020. Commercial usage of the technology has increased dramatically because of the use by major players in the market such as Microsoft, Apple, Google, Facebook, and Amazon. According to Markets AR technology’s market AR technology is $15.3 billion. It’s worthwhile to explore the many options and trends that are driving the booming market for augmented reality.
The word “augment” is a reference to improving something by adding it. In the instance of AR augmenting, it is the addition of computer-generated sound, graphics as well as touch feedback, overlaying it on our perception of the world around us. By doing this, it lets users gain access to additional information and increase their perception of the world.
AR should not be confused with the virtual world or VR, which is a form of entertainment in which the user is immersed in a completely virtual environment through sound and sight. VR is well-known for creating an immersive experience for those playing video games or those who are watching 3D films. It is also used to improve training in real-world situations, such as using it as a simulator for flight to pilots who are in training prior to when they are permitted to attempt to fly on a plane. VR is usually accomplished using a headset that has headphones.
What is POS Software?
POS refers to Point of Sale. Point-of-sale software, also known as POS software is the location where your customers make payments for goods or services in your shop. For instance, if you visit Dominos and the counter-person is able to click on the screen, and choose the items you wish to purchase, and then a printed copy of the bill is sent from it, it’s POS software.
The POS, or Point of Sale software is an application where payments are made by the buyer for the service or product in the store.
POS software can be used for stores that carry cash such as grocery stores, restaurants. It can be customized, but it is not a final decision for the person operating it. The person running it is able to access the product number, and also provide the details of the customer. For businesses such as IT companies and consulting firms, as well as wholesale traders, the software for billing is more efficient.
The benefits accrued from AR fully integrated POS Software
While VR has been a shadow of AR for quite a while, however, augmented reality has recently made a comeback. I for one am not shocked by this shift: AR today has a more extensive application space than VR and is simpler to integrate into the daily routine. Retailers can make use of AR technology in conjunction with POS software in many ways to improve their revenue and enhance the quality of service they provide customers:
- Retailers can utilize it to integrate the virtual space of selling with their physical spaces and overcome physical obstacles. For instance, you can put up a window in a place where there’s none in your shop or show a wide assortment of extremely massive free weights and not need to strengthen your shelves.
- The benefits for customers for AR applications are numerous and exciting: users can try on clothing virtually and decorate their kitchen or see using their mobiles personalized directions for building their furniture. AR could be an effective sales tool the ability to superimpose products on real-world environments will help decrease pre- purchase uncertainty – and even decrease the frequency of return after purchase.
- Retailers can make use of AR built-in POS Software to display more inventory than they can be able to fit into their store. Stores that have limited selling space like those within urban locations, could consequently compete for the selection of products with brands that have larger space and budgets.
The beginning stages of fashion design are an iterative process that requires numerous rounds of evaluation and revisions prior to deciding on the style that will be made available for production. Utilizing AR designers and developers are able to examine virtual designs for their products in real-world space at full size. This allows them to get instant feedback from other parties as well as the ability to rapidly re-evaluate their sampling and aesthetic options
Your company can be ahead of VR and AR shopping trends by beginning by asking your customers to share their shopping habits as well as their desire for innovative ways to shop with your company’s products. In the end, VR and AR shopping may not be exactly what we immediately think of when we talk about point-of-sale applications but it’s the next generation of POS software is giving customers new opportunities to play anywhere, anytime they’re available.
When POS software was centered around a terminal located at the check-out, in the near future, business owners will have to be able to take a more flexible and fluid approach. It is possible that we will one day have a fully independent store that doesn’t require checkouts. Consumers are increasingly looking for more convenience, and omnichannel shopping apps could be able to do all the work.
It is therefore essential for businesses to consider the multidevice point of sale software that will not only facilitate the speedy and efficient purchase and order processing but also help facilitate quick returns.
A mix of fixed and multidevice POS software that is augmented by mobile POS or mPOS systems, can definitely help with this. Customers’ ability to collect items from their computer or have products delivered to them when it’s not available, has to be managed effectively, too.
Akshay Bhimani is a Software Analyst at Techimply, India. With experience in the technology-driven field, he has mastered his knowledge on How(s) and What(s) to be done for a business. Also, he’s keen to share his knowledge on a few technology-related topics such as cloud technologies, ERP, POS software, school management software, and data security with readers that can assist any kind of business.