In the past two years, we’ve seen massive changes in many industries—for a variety of reasons (not the least of which was a frantic response to a global pandemic). But one clear standout is the rise in demand for data capture (DC) and point of sale (POS) solutions. Together, these technologies are transforming everything from retail and warehouse operations to healthcare and the cannabis market.
All indications point to continued growth in the future, driven by these five trends:
1. Rise of mobile POS in retail
Mobile point of sale (mPOS) is one of the fastest growing POS product segments—driven by its many benefits to retailers, merchants, restaurants and other small businesses. In 2020, the global mPOS terminals market was valued at $1.7 billion, and according to Infinity Business Insights, will grow with a CAGR of 10.41% from 2021 to 2027.
In the next five years, researchers also predict that half of all POS systems will be a tablet or smartphone. And according to a 2019 study, 65% of retailers have identified mobile payments as a top priority for their enterprises.
Want to capitalize on this trend? Check out leading solutions from APG, HP POS, Panasonic Toughbooks and Samsung Mobile.
2. Growing complexity in healthcare
As healthcare organizations continue to grapple with the challenges of the past, as well as new ones that emerge, many are turning to DC/POS technology as a solution. Why? Today’s tablets, scanners, patient management solutions, medical devices and telehealth technologies can go a long way toward streamlining healthcare administration (including the transfer of paper medical records to electronic health records) and enhancing the overall patient experience.
Together, these technologies can improve patient safety (by reducing medication errors and the associated liabilities and costs); lower operational costs; increase productivity and data security; and help ensure compliance with HIPAA regulations.
Want to capitalize on this trend? Check out leading solutions from ELO, Honeywell and Star Micronics.
3. Increasing adoption of alternative checkout methods
For grocery stores, restaurants and food service, convenience is now the name of the game. So are safety-related expectations. That’s why so many merchants are turning to data capture and POS solutions, which make the retail checkout experience as quick, safe and painless as possible.
These technologies, plus mobile point of sale devices, enable a number of contactless payments, including: self-checkout kiosks; mobile checkout (enabling people to complete their checkout from anywhere inside a store); click and collect (with QR codes that help purchasers shop online first, then click and collect their orders in store); and curbside pickup (with customers paying online and picking up from the store or restaurant without ever leaving their cars). Curbside pickup is especially convenient for customers who are time-strapped or have young children in tow. And for restaurant owners, it’s a way to increase sales without expanding seating capacity.
Want to capitalize on this trend? Check out leading solutions from APG, ELO, Honeywell, HP POS and Star Micronics and download our mPOS playbook.
4. Evolution of the smart warehouse
Today’s warehouses are undergoing incredible transformation, including massive growth and adoption of new strategies to meet ever-changing consumer expectations. Change is rampant and efficiency has never been more critical. Automation, data capture, warehouse management systems and SKU/inventory controls can all help today’s warehouses make bold moves to improve productivity, address a labor shortage and ensure worker safety.
Want to capitalize on this trend? Check out leading solutions from Honeywell, Panasonic Toughbooks and Zebra.
5. Expansion of cannabis market
Currently in the U.S., 33 states have legalized the medicinal use of marijuana, and there are 10 states where recreational marijuana is legal. Additionally, there are 3,229 licensed retailers and dispensaries within the U.S. alone. So it’s no surprise to learn that global cannabis spending is expected grow to $31.6 billion in 2022.
POS solutions can be a key part of that growth, as more and more dispensaries are seeking software and mobile point of sale devices to manage, track and charge their customers. POS solutions also help dispensaries ensure state-compliant transactions, manage inventory, and provide customer analytics to support marketing, customer loyalty programs and sales forecasting.
To learn more about how DC/POS technology can help you grow business in 2022, contact the Ingram Micro DC/POS team today.