Major retail and hospitality firms are changing POS software supplier to cater for evolving customer expectations
400,000 new POS software deployments over the past year
The number of POS software installations at major retail and hospitality operators worldwide surpassed 9 million as of June 2023, according to a brand-new study from strategic research and consulting firm RBR Data Services, a division of Datos Insights. Global POS Software 2023 covers more than 2,500 projects of retailers with 1,000+ POS software installations.
In recent years, many leading retail and hospitality chains have migrated to new POS solutions in order to modernise in-store operations. In the year to June 2023, there were more than 390,000 new installations, buoyed by rollouts from firms such as Hy-Vee and Aldi Nord.
Introduction of mobile POS compels retailers to roll out new solutions
Several fashion chains have implemented POS software from a new supplier to enable mobile POS capabilities in their stores. International firms American Eagle Outfitters and New Look are among those to adopt new solutions in order to roll mobile devices, helping to relieve pressure at fixed terminals, respond quickly to changes in customer traffic and reduce the likelihood of queues forming during busy periods.
Retailers aim for a unified experience across channels
With the range of checkout options increasing, one of the main reasons why firms such as footwear retailer Aldo and department store chain Myer chose to introduce new software was to enable a seamless experience across all channels. The omnichannel approach aims to allow customers to shop in their preferred way, but switch to another channel with no change to the overall experience.
Hospitality firms are also looking to provide a consistent experience to customers across multiple channels; online and mobile ordering, curb-side pickup and drive-thru services continue to flourish. US fast-casual chain Culver’s has rolled out a solution to support physical touchpoints and integration with third-party apps.
Flexibility and future-proofing at the forefront of major chains’ needs
The study shows that changes in customer behaviour seen in the pandemic have led some hospitality operators to seek more flexible solutions. US chain Taco John’s has introduced a new system enabling rapid menu and price changes across drive-thru and assisted POS, while multinational firm IHOP moved to cloud-based software to enable flexibility across its network of 1,600 restaurants in the USA.
As customer habits continue to evolve, some retailers are looking to future-proof their POS systems by selecting adaptable solutions. Swedish fashion chain Lindex, for instance, adopted a system built on microservices which can accommodate the introduction of endless aisle and mobile payments.
Drive to meet evolving customer expectations will boost growth
RBR Data Services forecasts nearly two million new POS software installations over the next five years. Store network expansion is forecast to remain strong in developing markets such as in Latin America, while changes in supplier will drive growth at major retailers in North America and Europe.
Jeni Bloomfield who led RBR Data Services’ Global POS Software 2023 research, commented: “In recent years we’ve seen global giants such as Walmart, Taco Bell and Uniqlo rolling out new POS solutions, proving that even the largest chains realise the need to adapt to a fast-changing landscape while keeping customer experience to the fore”.
About RBR Data Services
RBR Data Services provides clients with independent and reliable data and insights through published research, consulting and bespoke data services. Our global research covers the cards and payments, retail technology and banking automation sectors and is used by the leading market participants, analysts and regulators as the authoritative source of industry and competitor benchmark data. For any questions about this release, please contact [email protected].
About Datos Insights
Datos Insights delivers the most comprehensive and industry-specific data and advice to the companies trusted to protect and grow the world’s assets, and to the technology and service providers who support them. Staffed by experienced industry executives, researchers, and consultants, we support the world’s most progressive banks, insurers, investment firms, and technology companies through a mix of insights and advisory subscriptions, data services, custom projects and consulting, conferences, and executive councils. Visit us on the web and connect with us on LinkedIn.
The information and data within this press release are the copyright of Datos Insights and may only be quoted with appropriate attribution to Datos Insights. The information is provided free of charge and may not be resold.