VSR Magazine, this week, published the results of its second annual State of the POS Market Study, focusing on real-world trends affecting technology solution providers in the retail and hospitality markets.
Click here to download the free report
Mobility continues to be a major selling point and challenge for end users and solution providers. According to the study, 70% of end users plan on adding mobile POS when they upgrade or replace their current solution. Mobile phone and tablet integration are two of the top features requested by POS systems and 50% of end users stated that mobile POS will take a leading role over fixed POS. That's truly telling, considering how young the current mobile POS market is and the massive amount of unproven mobile platforms and software applications currently pouring into the Channel. Looks like end users are willing to hedge their bets in order to stay ahead of the competition.
The study also indicates that end users are looking for more add-on capabilities and service options with their POS. More importantly, they are willing to spend more in the short-term to get what they need. Half of the respondents indicated that sales rose by more than three percent and another 15 percent saw more modest sales increases. Conversely, only 11 percent saw any kind of decline in sales with the remainder seeing no change. Those are significant gains over last year when 20 percent saw declines in sales and only 45 percent saw a rise of any kind.
Here are the top line results:
The study queried the end user audience of VSR's sister publications RIS News and Hospitality Technology Magazine, as well as its own solution provider readers to get the broads view of the POS market. Click here to download the full report.
SMB Retail is the top market VARs sell to (61%)
33% of end users plan to replace their POS in the next 12 months
Add-on Functionality is the biggest pain point for end users (37%)
64% of respondents plan to upgrade their POS within the next three years
48% of end users will rip and replace their legacy system
80% of respondents said that they would use a POS Dealer or solution provider when installing a new POS
Also, don’t forget to join VSR’s George Koroneos at RetailNow as he discusses the results of the State of the POS Market Study with a panel of Channel experts and industry thought leaders. The panel takes place on Wednesday, August 7 at 10:15am at the Mandalay Bay Resort in Las Vegas. Register now at www.gorspa.org.