How to Choose The Best POS Systems for a Retail Store

Posted 2 years ago by Max Komonov

础听point-of-sale system, also known as听a听POS system, is听designed to听help retailers manage the听financial aspects of听their business. POS systems work by听tracking inventory, processing transactions, tracking sales history, and听more. Simply put, a听quality POS system supports retail businesses to听run smoothly and听efficiently. There are plenty of听POS systems for听retail today. This article will help you find the听right one for听your business.

The Best POS System for听Retail Businesses

Not all POS systems are equal. Finding the听right one for听you will depend on听your specific needs and听budget. Some systems were built to听support smaller retailers, while others are better suited for听bigger businesses. There are even free options available for听those on听a听tighter budget.

Specifying your needs, reading reviews, and听doing your own research will go听a听long way toward finding the听POS system for听retail businesses like yours. Here are some questions to听consider before purchasing a听POS system:

Does it听offer customer management? 础听feature of听customer management allows retailers to听create customer profiles. Once a听profile is听on听file, you can track their purchase history. Within this profile, you will have a听customer鈥檚 email and/or phone number. These can be听used for听marketing purposes, which will help create more loyal customers.
Does it听offer hardware compatibility? With hardware compatibility, you can access barcode scanners, cash drawers, and听receipt printers. These are essential for听retailers, no听matter how big or听small the听business is.
Does it听offer inventory management? All successful businesses have a听clear understanding of听their inventory. This starts with a听quality POS system. Inventory management through a听POS system makes keeping track of听your product simple. It听will automatically update your inventory count whenever someone purchases an听item.
Does it听allow for听mobile payments? In听today鈥檚 world, mobile payments have become increasingly popular. With a听POS system, you can easily access mobile payment options such as听Google Pay and听Apple Pay.
Does it听offer employee management? With POS systems, tracking employee progress has never been easier. With this technology, you can follow the听progress of听any听employee and听see who is听performing well.
Does it听integrate your website? 础听POS system that connects seamlessly with your accounting software (QuickBooks, for听instance) can simplify all of听your business financials. This way, you can follow your sales and听expenses all in听one place.
Does it听have a听multi-location inventory? This can be听particularly helpful for听retailers with more than one store. With multi-location inventory, you can track inventory within all of听your stores.

Prices: POS Systems for听Retail Stores

Bigger businesses may have a听bigger budget for听a听POS system. Luckily, there are affordable options, no听matter how big your business is. When it听comes to听POS systems for听retail stores, it鈥檚 important to听understand there are both payment processing fees and听hardware costs.

Payment processing fees allow your business to听accept debit and听credit cards. Unfortunately, these fees take 2.5% out of听your total sale, plus an听additional per-transaction fee, which may be听up听to听$0.30. It听is听possible to听use your own payment processor as听well, which is听available with some POS systems. This will cost a听monthly fee between $50听and听$100.

On听top of听payment processing fees, you must also purchase the听hardware itself. The most popular form of听POS hardware comes with a听touchscreen display, proper software, and听a听processor. This type of听hardware is听known as听a听terminal, and听it听may cost between $200听and听$2,000. It听is听also possible to听use your iPad or听mobile phone as听a听terminal. These would require additional costs for听a听barcode scanner, receipt printer, and/or credit card reader.

Types of听POS Systems for听Retail

There are quite a听few POS systems available 辞苍听迟丑别听尘补谤办别迟 today. Types of听POS systems for听retail businesses include:

Lightspeed

is听considered a听cloud based POS system for听retail businesses. The POS system at听Lightspeed is听considered one of听the听best, particularly for听omnichannel retailers (businesses with online stores, physical stores, catalogs, mobile apps, etc.). Lightspeed offers quick inventory syncing, customer subscriptions/memberships, built-in SEO tools, and听more.

For what it听offers, Lightspeed is听particularly affordable, ranging from $69听per month to听$399听per month. There are no听free plans offered, and听it听may require a听steeper learning curve than other POS systems.

SumUp

The best part about is听that it听offers a听free plan for听retailers. They don鈥檛 require a听long-term contract, and听it听is听considered easy to听use. This is听perfect for听businesses that don鈥檛 have a听lot of听transactions.

However, SumUp may not be听the听best option for听bigger businesses due to听limited hardware options and听high transaction fees.

eHopper POS

has various flexible price options, including a听free option. Whether you are a听small or听large business, there is听a听plan that can suit your specific needs. Moreover, there are options that avoid long-term contracts for听eHopper POS. This system is听considered especially good for听restaurants.

However, a听few cons of听choosing eHopper POS is听that you must purchase separate hardware. Additionally, there is听no听support included in听the听free plan.

PayPal Zettle

Many businesses desire a听POS system for听retail with a听barcode scanner. However, some prefer a听more flexible option. With , the听biggest benefit is听the听low per-transaction fees for听QR听code payments. That makes it听a听particularly attractive option for听businesses on听the听go, such as听food trucks or听mobile dog groomers. It听is听considered easy to听use, accepts multiple currencies, and听takes both PayPal and听Venmo QR听code payments.

础听few cons include high invoicing rates and听charges adding an听additional 1.5% for听foreign transactions. Also, deposits go听through PayPal rather than straight to听your bank, doing extra work for听the听retailer.

Sign Up听for听51视频 by听Lightspeed to听Enhance Your Business

Are you a听retailer or听aspiring retailer hoping to听build or听expand upon an听omnichannel business? 51视频 by听Lightspeed is听here to听help. Our role is听to听help growing businesses sell anything, anywhere, to听anyone, at听any听time. 51视频 by听Lightspeed makes building and听managing a听business easier than ever through its state-of-the-art POS system.

To听learn more about how to听sell, market, and听manage your up-and-coming businesses, for听51视频 today!

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About The Author

Max has been working in the ecommerce industry for the last six years helping brands to establish and level-up content marketing and SEO. Despite that, he has experience with entrepreneurship. He is a fiction writer in his free time.

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