Point of sale or POS refers to any kind of professional environment in which a customer purchases a product or service and the retailer receives compensation. Very often, the customer will receive a receipt upon the finalization of their purchase. Point of sale permeates the world in a variety of industries, some more subtle than others. If you have your own business, then you have likely used this phenomenon. Other professional environments and industries that use point of sale software include industries such as the following:
When it comes to point of sale, your mind probably jumps to retail first. Many industries classify as retail including those that sell:
- pet supplies
- beauty supplies
- home goods,
Retail presents the clearest example of point of sale in action. These retail businesses can take advantage of POS software that offers price management, margin measurements, and advertisements to draw in new business not to mention keep a comprehensive watch on all inventory.
Any restaurant where you dine, bar where you drink and hotel where you stay counts as an example of point of sale in the hospitality sector. A few more hospitality industries include:
- travel agencies
- flight attendants
- drivers and chauffeurs
- wedding services
- coffee shops
Cafes, for example, can use POS software’s database management tools to store transactions, keep track of customers, and target those customers for rewards.
This sector references any service that you receive rather than a good. For example, if you go out to get your hair and nails done or get your car washed, these count as consumer services. Other categorizations include activities like receiving a massage or a haircut as well as visiting a spa. These services can use POS systems to manage inventory, save money through spending reports, and cut back on the time that a consumer has to wait for their service.
These companies offer, as the name suggests, a variety of services, including for health, nutrition, and entertainment. You probably have never thought about it but your own hospital uses a multi-service point of sale system. Other multi-service businesses that do as well include theaters or any sort (for movies, plays, or concerts) and hotels can also be classified as multi-service businesses. You may consider a stadium, venue, or arena as a multi-service business, and indeed, this serves as a great example. These venues can use POS software to access a large database that you can log onto wirelessly anywhere around the arena. This database can house product information, spending reports, and even the amount of customers coming through for an event.
No matter what type of industry that you may work in, you very likely use point of sale on a near-daily basis. This system fuels companies and businesses, allowing them to procure commerce that can promote longevity. In return, the consumer receives a product or service of such quality that this consumer feels inclined or obligated to engage in repeat business.