Point of Sale Systems: A Necessity for E-Commerce Retailers
A point of sale system is essential for brick-and-mortar and e-commerce businesses alike. This system is software and hardware that enables retailers to complete transactions when customers make purchases. POS systems encompass everything from the card reader customers swipe with, to the backend technology that processes the payment and updates the inventory counts. These systems accept customer payments and keep track of sales, whether at an in-store counter, on a website, or at a pop-up event.
Traditional in-store point of sale systems include:
- Register or connected device like an iPad
- Receipt printer
- Credit card reader
- Barcode scanner
- Cash drawer
Historically, POS systems were as simple as cash registers in a store, but now they are entirely digital. With the ever-changing online retail landscape, POS systems need to integrate with all selling channels—from brick-and-mortar, to webstores, to social media sales, and particularly with live selling channels—in order to prevent inventory management problems.
Any retailer who makes sales transactions uses some form of a POS system. The technology a retailer chooses to use for their system can make all the difference in optimizing their business.
POS systems seem simple, but with modern retailers taking advantage of multichannel selling and live commerce, processing payments can become more involved. That’s where innovations like CommentSold, an end-to-end live selling e-commerce solution, can be invaluable to businesses.
Increasing their Online Presence, How Innovative Retailers are Turning to Live Commerce
Savvy retailers everywhere are turning to live commerce to optimize their online presence, increase their revenue, and engage customers across multiple selling channels at once. This innovative way of selling is the new norm for forward-thinking businesses. Adoption is so widespread, in fact, that live commerce is forecasted to generate $17 billion in the United States in 2022 alone.
Businesses with established technology ecosystems are incorporating live sales and discovering major growth. They are increasing customer lifetime value, beating the algorithms, and making more sales. For retailers today, the attractiveness of multichannel e-commerce makes it almost impossible to steer away from especially those who want to expand their online business footprint.
Live Sale Success by the Numbers
- CommentSold live sellers have increased revenue by 200% in under 6 months.
- CommentSold shops have seen more than 34M items shipped per year from live sales.
- 7,000+ CommentSold retailers generate a collective $2.8 billion annually.
- Live sales with CommentSold are so addicting that top shoppers attend more than 500 live sales per year.
As the leader in the live selling industry, CommentSold provides the platform for live commerce and the technology needed for in-store retail processes, like inventory management and point of sale systems. 73% of consumers visit stores in multiple ways when shopping, so having a POS system that can support sales across every channel is essential for modern retailers and expected by modern shoppers. Whether you’re a new business, an established business, or an aspiring business owner, there are five key reasons you should be using a live commerce-friendly POS system.
The Point of Sale Problem
With the influx of sales from live selling, retailers are discovering that their current point of sale systems can’t keep up. With live commerce bringing in mass online sales, in-person transactions being made in brick-and-mortar stores, and customers shopping websites—all at once—retailers are facing new challenges when it comes to integrations and inventory.
There are numerous risks and roadblocks associated with juggling too many system integrations. Retailers who use one point of sale system for the brick-and-mortar, another for their live sales, and a third for their webstores, are at major risk for:
- Overselling inventory across multiple channels
- Disappointing customers with oversold items
- Losing time on manual updates
To avoid these pitfalls, retailers are adopting one all-inclusive point of sale system that works across every selling channel. Instead of installing plugins, manually updating inventory, and syncing extra downloads, retailers are seeking out a simple, streamlined solution that covers all the bases.
“I love that I don’t have to integrate multiplatforms, that I can use it in one shopping experience.“
Kati Kemph, Owner at Kie & Kate Couture
5 Reasons You Should Be Using a Point of Sale System Built for Live Commerce
CommentSold, an end-to-end e-commerce platform for live selling, provides everything retailers need to streamline their businesses online and in-store. With a point of sale system that integrates seamlessly with live commerce, webstores, and brick-and-mortars, you can:
- Streamline Your Retail Technology
Unify your commerce technology and point of sale e-commerce solutions with one platform. This will eliminate the need to integrate with third parties for webstore, live sales, or in-store purchases.
- Set Yourself Up for Multichannel Selling Success
Manage your inventory in real-time from the CommentSold dashboard, without additional syncs, apps, or integrations. With one POS system, there’s no risk of overselling, overcomplicating, or overworking.
- Create a Seamless Shopper Experience
Create a positive buying experience that transitions effortlessly online and in-store. 75% of consumers expect a consistent experience wherever they engage with a brand, regardless of the channel. By using one platform for all sales, you are creating a branded experience for your customers, no matter where they shop.
- Cut Costs and Save Time
Save time, and labor typically spent on workarounds or system disconnects with a fully integrated backend and point of sale system. With no need for extra integrations or downloads, you can direct your energy back to the revenue-generating parts of your business.
- Simplify Fulfillment Processes
Make shipping a breeze with a streamlined inventory management system. Get real-time inventory updates across channels and save time on manual tasks with automated fulfillment processes.
“Before the addition of point of sale, we had tons of discrepancies, whether it was with our inventory, with our numbers, with revenue…it was an archaic way of operating both a website and a brick-and-mortar score, so it wasn’t cohesive or compatible. My staff now has a very clear way of handling both online and in-store sales.“
Kati Kemph, Owner at Kie & Kate Couture
How to Transition to a Live Commerce-Friendly Point of Sale System
It is easy to see the benefits of a simple, unified point of sale system, but you may be thinking the switch from your established system could be challenging. If you already have a point of sale system, or if you are looking to get started with one, CommentSold has processes in place to make it happen without the hassle.
With help from a dedicated support team you can:
- Easily access point of sale support resources that make problem-solving simple thanks to CommentSold’s trusted support team.
- Reduce costs with free initial setup and terminal fees for up to two card readers.
- Streamline your operations with one point of sale platform for all of your selling channels.
- Get answers to your questions quickly with an average chat support response time of under 3 minutes.
Live sales are skyrocketing retailers’ growth online. Using CommentSold’s Point of Sale System that supports live selling is crucial to scaling your business. Retailers everywhere are using CommentSold’s Point of Sale System to simplify the way they do business while reaching more customers than ever before. Employees are happier, customers keep coming back, and business is booming.
Point of Sale Success by the Numbers
Since using CommentSold’s Point of Sale System, CommentSold customer Kie & Kate Couture has:
- Increased SKU count by 80%
- Generated 63% of total GMV from POS
- Increased repeat purchase rate to 90% since 2022
“Since the addition of the point of sale system, it’s been a seamless experience for the brick-and-mortar customer, and for the website, and our backend operations.“
Kati Kemph, Owner at Kie & Kate Couture
Are you ready to simplify your operations? Visit the Help Center to learn how to get started with CommentSold’s Point of Sale (POS) System. Get started today!
