A point of sale is an essential part of a successful restaurant or shop nowadays, it’s a combination of hardware and software that is used to sell to customers, and organize the related processes to sales. A good Retail POS system comes with a number of benefits such as logging sales, tracking inventory, and analyzing sales for maximum profit. Furthermore, it enables you to make more sales, manage your staff and identify smarter ways to get business done.
Why do you need a Retail POS System for your store?
A Retail POS system will help you manage your expenses while putting an emphasis on sales to increase them, also it will help improve employee workload, inventory tracking, and increase sales promotion.
Also, it allows you to accept payments in several forms; cash, credit cards, and contactless ones besides allowing for online payments, too. All the previous benefits make a good POS system a good value for money, with a good return on investment.
Mainly a Retail POS system will be accepting and managing payments, but that’s not everything. The leading POS providers have additional and advanced functionality that is not provided by everyone else. They could offer features as follows:
- Sales management: A Retail POS system will act as a fast checkout for sales transactions while logging them
- Inventory management: Keeping track of available inventory and updating the remainder of after-sales transactions with the option of reminding you to consider restocking.
- Employee management: Besides tracking clock-in and clock-out of employees, it also creates schedules and tracks employee performance.
- Reporting and analytics: This allows for leveraging statistics to optimize sales and marketing efforts besides inventories and many more.
- Customer relationship management: Top Retail POS will help you with providing discounts, promotions, and loyalty programs to retain your customers.
Top 5 best retail software POS Systems for 2022
We examine each Retail POS system in various areas to decide which one is the leading one. We check everything such as features, pricing, and usability, and highlight the features that could make the most impact on your business in terms of operation and profit.
- Square POS– Best all-round Retail POS System
- Lightspeed POS– Best Retail POS System for complex inventories
- Shopify POS– Best Retail POS System for integrating e-commerce
- Vend POS– More third-party integrations than rival Retail POS Systems
- Shopkeep POS– The best mobile app of any Retail POS System
1. Square POS
Best retail POS system all-round
Square features and pricing are a winning combination, that’s from an intuitive software that makes transactions simple and efficient.
Square POS hardware suite is affordable, which is not something its competitors can provide.
Square POS is popular for its free iPad POS system which does multiple functionalities simultaneously such as managing sales, tracking customer transactions, providing email receipts, and tracking inventory. The pricing is attractive from $60/month(plus a 2.5% + 10¢ charge for each sale).
Square POS retail POS plans include 24/7 email support and 12/7 phone support.
2. Lightspeed POS
Best POS system for retail and complex inventories
Lightspeed POS’ inventory management options are exceeding by far its competitors as it allows managers to import or order from pre-loaded catalogs, and its ability to group products by type. Users could also add more details like style, size, and color, too.
Lightspeed POS runs on iPad and desktops, and the hardware includes scanners, iPad stands, receipt printers, and cash drawers.
The most commonly used plan is called ‘Starter’ and it costs $99/month, and it includes a cash register with up to 5 employee accounts, easy onboarding features, basic analytics, and 24/7 support. The only downside is that while the Starter plan features are good, they are more expensive than the rest of the competition.
Lightspeed POS is an overall good Retail POS System, but for small businesses with a handful of products, it won’t be the optimal choice.
3. Shopify POS
Best for e-commerce integrations
Although Shopify is regarded as an e-commerce company, it provides a Retail POS that enables great e-commerce integrations. Shopify POS users will also be able to own their brand store online, with the ability to sell through social media channels such as Instagram, Amazon, and eBay.
Shopify POS features include the following features: Sales management, Inventory management, and employee management, besides excellent sales analytics with the ability to produce discount codes. Furthermore, there is a POS mobile app to manage operations on-the-go.
Shopify POS remains a viable option for businesses that have both online and offline stores, and you won’t need to worry about their support that is available 24/7 for email, live chat, and phone support.
Shopify POS price is a bargain at $29/month, although as you grow you might want to consider upgrading your plant to $79/month to gain access to advanced reporting tools and other useful functions. All the above elements make it one of the best POS systems.
4. Vend POS
Best for third-party integrations
Price: $59 /month
Vend POS comes on top retail POS systems, its seamless integration with a vast range of third-party features and apps gives it a big advantage, as it provides users with lots of features. For example, a payment could be processed via Square POS, Shopify POS or PayPal after third-party integration.
Vend also has awesome e-commerce integrations to consider, which enables retailers to sell through physical, digital, and mobile channels. Moreover, gift cards, customer profiles, sales and inventory management, and more are provided by Vend POS.
Vend POS is considered one of the most flexible Retail POS systems in the market, with multiple third-party integrations and compatibility with multiple operating systems, as it could run on Macs, iPads, or PCs.
5. Shopkeep POS
Best for mobile app users and retail POS carts
Shopkeep POS is one of the top POS systems, it provides the best Retail POS system via a mobile app. You can use the iPad to track both inventory and sales, and daily reports could be tracked by managers from anywhere.
Shopkeep POS system also provides a great set of customer service tools, enabling retailers to produce gift cards and special loyalty program discounts to retain existing customers. Besides, support is one of Shopkeep POS’s strong suits, where they provide 24/7 support over the phone, chat or email.
Shopkeep POS doesn’t set fixed prices for their plans. Instead, they provide a customized quote for each business, which is an advantage if you want to tailor your needs, something other POS providers don’t provide by default.
POS Software Trends: New Predictions & What’s Next 2022
In the aftermath of the COVID-19 pandemic, online shopping is swiftly becoming the new standard. Most shops have been forced to shift their companies to the cloud in order to stay up with the modern needs of extremely techy consumers, and POS software has become more important than ever. For small and large organizations, a cloud-hosted POS solution is no longer an option; it is now a requirement.
POS systems have given shops a more effective way to maintain inventory and manage sales, replacing the old cash register and traditional methods of selling. As eCommerce grows, point-of-sale systems play an increasingly important role in enhancing customer convenience and providing a more personalized experience.
To keep up with the newest POS system advances, we’ve developed a list of the most important POS software trends to keep an eye on. You may optimize the potential of your present POS solution or, better yet, have better ideas on future POS financing trends that might provide value to your retail business by knowing current reports and critical insights on POS software adoption.
- Multichannel Commerce
- Customer Loyalty Programs
- Personalized Shopping Experience
- AI Integration inPOS solutions
- Use of POS Data Analytics
- Simple POS Hardware
- Cashless Transactions Via Mobile POS Systems
- Adoption of Cloud-Hosted POS Systems
Now, as you have info on the leading Retail POS systems, and POS best practices, it’s time to make your decision and get one. You could start by reviewing the features provided by each POS vs the prices and get the best deal for your business that both sustains and grows it.