With the launch of the Amazon Kindle POS system its a great opportunity to talk about new technologies in the POS (Point of Sale) space for small businesses. How do small retailers & brands choose the right system? Watch on.
Hi, this is Syama Meagher from Scaling Retail. I'd like to welcome you to this week's retail roundup. This week we're going to discuss the new Kindle POS system that Amazon is launching.
You know, if you're familiar with POS systems, and you're a vendor or small retailer, chances are you've spent quite some time agonizing over which systems to use. Potentially, you're working off of an iPad, or maybe you're working off your iPhone and using such applications as Square, or even Paypal. With so much recent technology being introduced into the market of POS for a small business, it often times leaves someone thinking, "Where should I start? Where should I go? What's going to be the best use of inventory management for me, and how can I best take advantage of all these new products in the marketplace?"
Well, of course you're going to take a look and see all the return on investments, not only how much you're going to spend for initial setup, because obviously you have to buy the technology, but also looking at your continuing operating costs. How much is it going to cost you to manage that inventory and manage that type of system month after month.
Now, with all the recent additions, I'd have to say that one of the ones I'm the most excited about has to be the POS systems that integrate online and offline. Imagine being able to have your brick and mortar store, as well as being to have your online inventory for your ecommerce business, and being able to work on both of those in terms of being able to build up their sales strategies, but having those inventory be pulling from the same place. Because, of course, if you're a small business, chances are you don't get all the luxury to be able to allocate a certain amount of merchandise particularly for ecommerce, and then another amount of merchandise particularly for brick and mortar.
Now, how does this work if you're a vendor? Well, if you're a brand, hopefully you're taking advantage of all the new ways that you can access your customer. Meaning, with the integration of having a POS system that you can work with online and offline, you can manage your inventory and take advantage of things, like pop up shops, trade shows in terms of immediate selling, as well as taking a look at things, such as trunk shows and other types of events.
So, it's important to think about your long-term strategy and having introduction of this Kindle POS system definitely begs us to think about how cheap are these types of things going to be. Obviously, when you have so many products to market, things start to get a little more competitive, so as a small business, you're definitely in the advantageous position here. A lot of brands and companies are going to be vying for our business, and it's really up to us and you to be critical in terms of where you spend your dollars. Hopefully, you've found a good POS system, and if you haven't, definitely take a look at some of the ones that I've mentioned. Have a wonderful weekend.