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Retail POS Terminals Market Analysis, opportunities Trends And Industry Strategies 2016 – 2023 – Credence Research

As stated in a new market report published by Credence Research, Inc. “Global Retail POS Terminals Market (By Product Type (Fixed POS terminals and Mobile POS terminals), By Component (Hardware and Software), and By Application (Supermarkets, Hypermarkets, Specialty Stores, Grocery Stores and Mass Merchandisers, and Gas Stations among others) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the global retail POS terminals market is expected to witness a steady growth, expanding at a CAGR of 12.8% from 2016 to 2023.

Market Insights

A Point of Sale terminal is an electronic device that accepts card payments from customers at a point of purchase. Some of the major functions performed by a POS terminal in a retail store include maintaining customer record, data backup, fast bill processing, inventory tracking, managing loyalty program, and offering special discounts among others. These functions enable retailers to ensure operational efficiency and streamline workflow, thereby boosting sales and profits. POS terminals offer higher durability and reliability over their traditional counterparts like cash registers, and hence have started replacing them in both small as well as medium sized retail stores. The demand in the retail sector is also driven by the escalating demand for mobile POS solutions.

Browse the Global Retail POS Terminals Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023 report at http://www.credenceresearch.com/report/retail-pos-terminals-market

Competitive Insights:

The global retail POS terminals/systems market is competitive and technology driven. In addition, the market for POS terminals in retail sector is extremely consolidated owing to the mergers and acquisitions of SMEs by/with large companies. Verifone Systems, Inc. (the United States) and Ingenico S.A. (France) collectively account for over half of the global retail POS terminals market revenue. Other players including NCR Corporation (the United States), PAX Technology Ltd. (Hong Kong), Toshiba Corporation (Japan), MICROS Systems, Inc. (the United States), Hewlett Packard (the United States), Panasonic Corporation (Japan), and Samsung Electronics Co., Ltd. (South Korea) have been identified as promising and emerging players in the retail POS terminals market.

Key Trends:

Growing adoption of cloud-based (SaaS platform) POS devices
Growing preference for cashless transactions
Banks have been instrumental in triggering circulation of credit and debit cards
Opportunity for retailers to add value and loyalty options
Mobility Revolution
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ToC:

Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase II-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted
Executive Summary
2.1. Global Retail POS Terminals Market Snapshot
Global Retail POS Terminals Market Analysis
3.1. Global Retail POS Terminals Market Overview
3.2. Market Inclination Insights
3.2.1. Recent Trends
3.2.2. Future Outlook
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Challenges
3.3.3. Opportunity Matrix
3.4. See-Saw Analysis
3.5. Attractive Investment Proposition
3.6. Market Positioning of Key Industry Participants
3.6.1. Major Strategies Adopted…
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Blog: http://prnewswireindustry.blogspot.com/2017/02/Retail POS Terminals-market-is-expected-to-grow-us.html

About Us:

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

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Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.

Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.

Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.

What we do

We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability.

No matter the challenge, we concentrate on delivering functional and persevering results, and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist work straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies.

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How to Choose the Right Retail Industry Consultant Firm?

The advancement in the internet technologies has pumped up the competition in the retail space. Today, retailers are not only competing offline but on the internet as well. This means that as a retailer you need to be on your toes and make sure that you don’t make fatal mistakes that can lead to the downfall of your retail business. If you operate a store and your objective is to drive more customers to your store you need someone who can understand your retail business and help you achieve those objectives. With the help of retail industry consulting firm you can achieve your business goals in a convenient way. Here’s how you can choose a great retail-based consulting firm for your business.

Extensive Knowledge – When you are looking for a retail sector consulting services firm you need someone who has extensive knowledge about the key trends and challenges in the market. This is really important because you want someone who has a thorough knowledge and information about how retail market is shaping at the moment and what kind of opportunities and formats will come up in the near future. The consulting firm must also have great knowledge about how to reach out to your customers in the best possible way to help you boost your revenue.

Unique Solutions – Retail industry is very competitive and therefore you need unique solutions to resolve complex business solutions. This is where you need the best retail strategy consulting firm that can help you break the norms and attract more customers. Consulting firms with plenty of experience and expertise understand what your business limitations and preferences are before they come up with unique business solutions. They also take a look at your business budget to ensure that you are not overspending.

Experience – When you are choosing retail consulting companies you need to make sure that you pick someone who has a good amount of experience. This is mainly because you want someone that has seen it and done it all, by your side. Experienced firms have a better control over what they should and should not do. They are well aware of the key market trends that can make an impact on your business. They have provided services to other previous clients as well and therefore you can refer to their testimonies and even get real-time feedback.

There are different retail consultants available in the market and not all handle all the tasks that you want and therefore you need to be very selective. If you want to boost your retail business you might want to look for retail industry consultant that can offer value for money services.

Retail Industry in India

India is the most attractive retail market in the world. Retail market matured in India over the years but still it is highly fragmented. There are around 12-15 million outlets in the country making it a US$ 550 billion market. In past 5 years retail market witnessed a growth of 15% from 2010 to 2014, which is higher than Indian GDP growth.

Growing youth segment and working women population, rising incomes and rising purchasing power, higher brand consciousness, changing consumer preference, growing urbanization, Increase in number of upper middle class and rising internet penetration are the biggest drivers in the growth of retail industry of India. Also, rapid real estate infrastructure development, easy access to credit, increased efficiency due to development in supply chain and growing interest of investors are also helping retail sector to grow in India.

Retail Industry in India unlike other emerging economy is still very traditional in nature and is largely controlled by Cooperatives and Independent Retail companies. Street markets play an important role in the Retail industry of India as most of the population does their shopping here. Before the liberalization and globalization in 1991, western apparel, foods etc. we’re not available in the Indian market and the brand awareness and recall among the local population was negligible but after 1991 the awareness has steadily increased. This has allowed international brands to flourish.

Apart from normal brick and mortar stores e-commerce is the next big sector in India and is poised for a boom. India has all the necessary conditions like moderate per capita GDP, rising internet connections, large number of engineering graduates etc which are required for the success of E-commerce. Currently the E-commerce Market is worth more than billions of dollars but that is just the tip of the iceberg. The retail industry of India is hugely untapped and investors can massive returns when they decide to enter India’s retail sector. The Retail Market in India is expected to grow at a CAGR of till 2020.

What the report offers

The study identifies the situation of India and predicts the growth of its Retail Market. Report talks about growth, market trends, progress, challenges, opportunities, government regulations, technologies in use, growth forecast, major companies, upcoming companies and projects etc. in the Retail Sector of India. In addition to it, the report also talks about economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector. Lastly, the report is segmented by bazaars, brick and mortar shops and e commerce.

Opportunities Galore in the Retail Industry

According to the Current Employment Statistics Survey conducted by the BLS, payroll employment other than farm added 169,000 jobs for the month of August, 2013 of which 44,000 were jobs in retail. This is considered to be a direct influence of the recovering mode the US economy has finally gotten into. With more and more consumers getting less conservative about their expenses, the retail industry is able to get back on its feet with impressive consistency. For individuals looking for lucrative career options, the retail sector is definitely worth considering.

Different areas where retail careers can be explored are –

*Operations in Stores

Careers in areas like store operations, customer, employee and merchandise security, store management and sales assistance can be explored for lucrative opportunities.

*Administration and Finance

Careers in areas relating to staffing, auditing, accounting, finance, liaising can be considered. Capital acquisition and identifying sources of working capital and mergers and acquisitions are some of the challenging tasks to deal with in the retail sector.

*Human Resources and Training

The retail industry is all about managing the company’s greatest asset – the workforce. People skills are needed for careers in areas like recruiting, managing and training people. Jobs related to legal skills related to managing employee issues are also available aplenty.

*Buying and Merchandising

An eye for detail and numbers to match with creative flair are the requirements for a job in this category. Studying and forecasting trends, bargaining with vendors, selecting merchandise are some of the responsibilities to handle.

*Marketing and Public Relations

Jobs are created in areas like handling of media and public releases, advertising, promotions relating to sales, art merchandising and creating content for the company website and the online store.

*Customer Care Centers

Customer care call centers, customer support centers and online customer interaction are great avenues for jobs. High school graduates may also find sufficient opportunities in this area.

*Information Technology

Every department in the retail industry is governed by technology and support is essential for smooth functioning of all the functions. Jobs in setting up the basic technology framework to updating the soft wares, handling inventory programs from the buyer to the seller, managing real time merchandise updates, etc. are some of the complex technology driven careers to be explored.

*Logistics and Distribution

Overseeing storage and warehousing of merchandise, planning optimal distribution channels, handling various transportation options and import – export related duties constitute functions in careers in this department.

Online job search engines, company websites, advertisements in various print media, word of mouth and referrals are excellent sources to scour for retail job openings.

The Employment Outlook report formed by the BLS, observes the retail industry as America’s biggest employer with projections of 1.6 million retail jobs added from the year 2004 to 2014 taking the figure from 15.0 million jobs in 2004 to the projected 16.7 million jobs in 2014. A profusion of opportunities offered for a diverse group of skill sets and education backgrounds make it an exciting and challenging industry to be in.

With Carefully Chosen Retail Industry Solutions- Agility & Flexibility Can Be The End Results

Retail is one such industry that stays subjected to changes, more closely than others. For any retailer who wants to come out with an environment in which dealing with the changes gets easy, going in for the retail industry solutions gets a must. With this, not only a retailer will be able to respond to the changes quickly, but meeting the client expectations is also going to get easy. For any retailer who wants to bring in agility and flexibility in the business process model, investing in the retail industry is going to act as an intelligent move.

The market demands are changing and with this the customers are becoming more peculiar in their behavior, with retail industry solutions, you will be able to get hold of this phenomenon and utilize it for your benefit. With these retail solutions, a retailer can come out with a retail approach that promises to add up the productivity, sales and profits at the end. For all those who want to strengthen their business and want to kill the competition, investing in these retail solutions will be of great help.

Some incredible after effects of opting in for the retail industry solutions are:

* Business innovation

* Increases sales

* Enhanced customer service

* Reduced IT costs

You are going to realize these benefits, if you have a correct retail industry solution working for you.

How To Choose A Right Retail Industry Solution?

If you dream to come out as a successful retailer, you need to know that it gets imperative for you to choose a right retail industry solution. Do not go by the retail industry solutions suggested to you by a vendor randomly as these might not be in sync with your requirements.

Selection of these retail industry solutions depends on the goals towards which you are working, such as, multichannel management, merchandising, supply chain, e-commerce, and customer shopping experience. It is not that you cannot get a retail solution that works on all these areas in a single go, but then you will have to place an order for this exclusively.

Only a custom made retail industry solution is going to help you exceed customer expectations, build in loyalty and gain agility. Make sure that the vendor you wish to go in for is capable enough to provide you with something that is usable and result driven, else you will repent spending money on these solutions at later stages.

The Indian Retail Industry

The Retail Sector in India has seen phenomenal growth in the past years. According to the recent report by Times of India, the Global Retail Development Index 2012 says that, India ranks 5th among the top 30 emerging markets for retail.

Many factors have contributed to the boom in this sector. One of the major reasons for the boom in Indian Retail Industry is the rise of consumerism. Unlike, a decade ago, people are spending more on the luxury goods now than ever before. The increase in the Purchasing Power Parity (PPP) of people has resulted in the shoot up of retailing facilities in India.

India also has a high internal consumption pattern. Due to the large population the internal consumption rate is very high. Also, owing to the diversity in cultures, religions and family values that promote larger expenditure on special occasions like festivals and marriages, keeps the machinery of retail sector well-oiled and working.

More number of Indians are travelling abroad these days. This has exposed people to numerous cultures and ways of life. As a result, there has been greater exposure to brands. This is the main reason for increasing brand loyalty among the Indians.

It is said that the big fat wedding culture of India is also one of the defining factors of the Indian Retail Sector. This is because marriage is a time when everyone irrespective of any religion, caste, creed or economic status engages in buying gifts. This provides a new dimension to the retail sector.

The Indian Retail market can be divided into two parts:

– Organized sector

– Unorganized sector

It has been pointed out that with the large number of opportunities in this sector comes the completion. The Indian Retail industry is now looking for a number of specialized retail professionals. The basic skills required for a person to succeed in the retail industry are conceptual understanding, analytical skills and details, observing the customers and understanding them and understanding global retailing strategies and market among others.

Therefore, it is evident that if you wish to have a career in this ‘semi-hospitality’ sector then you must have knowledge of all the front end issues such as Customer Relationship Management, ERP, Merchandize Mix, Retail Store Operations, and Customer Marketing etc. It thus becomes imperative for an aspiring professional to gain in-depth knowledge of the concept of retailing.

One mode of gaining such knowledge can be online courses. EduKart.com has designed various Certificate Courses in Retail Management, which will allow you to gain an insight of this field. These courses are certified by Retailer’s Association of India. The various courses have been comprehensively designed by industry and subject experts.

Meet the Demands of the Retail Industry with Retail Fulfillment Solutions

The term fulfillment stands for the “process of taking an order and executing it by making it ready for delivery to its intended customer. It may involve warehouse pickup, packaging, labeling, etc.” However, when it comes to retail fulfillment, there are certain requirements with respect to product specifications, packaging, palletizing, labeling and tagging that the retailers want the manufacturers to stick to. Take for instance, retail packaging which plays a significant role in attracting customer’s attention. Attractive packaging is important especially in the case of first time buyers. It is the first step to enter the market and therefore there can be no compromise. The retailers also expect the manufacturers to provide delivery times and files with advanced shipment notification. And with the retail arena becoming more competitive and volatile, retailers are not ready to take no for an answer. They want the manufacturers to comply with the strict rules at any cost.

The retailers’ insistence on conformance with the rules has put the manufacturers under tremendous pressure. With retail fulfillment, manufacturers are expected to deliver the goods at the right place, at the right time and in the right form. Hence, retail distribution is an important aspect of retail fulfillment. To meet the demands of the retail industry such as electro-mechanical assembly, routing guide compliance, retailer-specific packaging, and custom labeling, what manufacturers need is an effective retail and distribution management. By partnering with reliable retail fulfillment solution providers, manufacturers can not only focus on their core competencies but also meet the needs of the retailers satisfactorily that too at a lower cost and with more flexibility. The following are some of the retail fulfillment solutions provided by a global leader in retail fulfillment solutions.

* Retail Packaging (hardware and software pack out: retail box, RF sealing clamshell packaging, blister pack, shrink wrap, etc.)
* Custom Labeling
* Serialization/ Serial Number Tracking
* Warehousing, Inventory Control, Lot Control
* Order Management and EDI
* Routing Guide Management
* Direct to Store or Distribution Center
* Freight Management, and Tracking
* Returns Management
* Online Tracking, Inquiry and Reporting

Thus, depending on third party solution providers help manufacturers to ensure best-in-class retail fulfillment since most recent products are shipped that too in the quantities that are ordered – that means no stocking of products with a limited shelf life.

Careers In The Retail Industry

Today, the retail industry is not just expanding, but it is now more organized compared to the early days. This change has compelled many students to take courses related to the retail industry such as retail merchandising and retail marketing. This rising trend is opening up new avenues for the educated and specialized staff of the fashion industry.

The retail industry is a very big business that has plenty of job opportunities. An experienced person in this field can demand a higher salary. So if you are interested in the retail industry, then you certainly have a bright future ahead of you.

Purchasing Power

There is a sudden increase in customer bargaining power and this is why the retail industry is growing at a phenomenal rate. Most retail companies have a buying team, which is generally responsible for launching a profitable product portfolio that will attract customers. Customers are smart enough to analyze the product price and quality. So as a part of the purchase team you have to bargain and get the best possible price from suppliers. If you are a graduate and you have negotiating skills and some basic floor experience then this is the best job for you.

Merchandising

This is a field of work where you have to work in coordination with the purchase team at the head office. Your task involves controlling the operation of the department, analyzing the past as well as current price trends and also maintaining stock records. As a merchandiser, you will forecast future trends with regards to customers’ purchase preferences and also try to figure out competitors’ moves. In order to pursue a career in this field, you should be well aware of the retail market and you should also possess sound numerical abilities with good communication skills.

Design

The main job of a designer is to apply the basics of the latest market trends. As a designer you should be able to display your ideas to the buying team so as to attract customers. You have to update yourself with the latest trends by visiting the foreign market, TV shows, design fairs, fashion shows and also closely monitor competitors. To get this job, you should have a degree in textile or fashion; in addition, you should also possess a creative mind.

Wholesale

In this field, the scope is much wider as it also includes the areas such as the merchandising, sales as well as import and export. So as a wholesaler, your function would be to link the manufacture and the retail circulation. To perform this task you must have a relevant degree in fashion with a commerce degree and some experience.

Technology and Production

Technologists are responsible to maintain quality as per the specifications, with all the legal requirements as agreed to with the buyers. This job is for a person who holds a technical degree in the retail field.

The retail field is not as boring and mundane as it once was. So if you have a creative mind, a bit of experience and retail education, you could have a lucrative and rewarding career.

Retail Industry Consultant for Strategic Help You Need to Succeed

Now a days, the retail consumer has become more demanding in terms of buying options and value for money. With high expectations, retail consumers have more options to make purchases. On the other side, the retail sector is facing stiff challenges because of the emergence of new competitors in the globalized market. Increasing infrastructure, maintenance, and marketing costs add more complicity to retail management challenges. Outsourcing Retail Sector Consulting Services comes up as a viable solution for the retail sector.

Critical Challenges resolved by Retail Industry Consulting Firm:

Retail Consultants have to analyze the objectives, existing resources, business plans, existing capability and need to improve the performances according to current and future possible trends. The task is not simple; yet, the exposure to retail industry and experience of serving numbers of retail clients dealing different products help the experts to devise the perfect strategy for improvement. Understanding the demographics of retail buyers in emerging markets is the basic of exercise. Partnering with the right local players help the businesses to know their target clients. Dynamics of online buyers, loyalty programs, and customized promotions is ever changing in a global market. Understanding it is a complex task for the consultants because they need to structure a sustainable supply chain and marketing policy. Improving in-house talent, as well as vital partners, needs a strategic training that requires the involvement of experienced Business Management Training Experts. Experimenting with the new formats and expanding to new channels with innovative concepts is a continuous process, so, the Retail Consulting Firm needs to design long term program to help its clients meet out ever changing challenges.

Help You Can Expect From Retail Industry Consulting Firm:

Retail Management Consultant can’t deliver overnight results but over the time, you start experiencing the benefits. Sustainable innovation policies and advance methodologies improve the processes. Strategic execution brings down the cost besides adding new channels to market your product. Retail Sector Consulting Services assist the clients in addressing the strategic challenges besides enabling them to add new values to their business. Retail Consulting Firms have already helped thousands of industries to sell their products/services in new emerging markets while cashing the new opportunities earlier than others. The proven strategic methodologies, which are customized according to particular industry/trade, help you know your potential clients better and to communicate with them through various drives; it delivers the brand identity in return. Therefore, an involvement of retail industry consultant delivers multidimensional help that any business needs to counter down competitive challenges.

Retail Industry Solutions Support Retail Industry Trends

Retail industry is growing like a speeding train running at its fastest speed. The trends, features and functionality have changed evidently. Big names in the retail world are gearing up for further advancements in the retail sector. That is a dash of technology to further enhance the ever expanding retail market.

Retail industry solutions support retail industry trends that are the day to day part of any retail organisation. This includes, product innovation, expanding the territories in to global markets, aligning all the business assets necessary in functioning, improved supply chain management, sustainability in the market. The aim is to build customer loyalty and boost store revenue. Technology in retail has led to virtual access to information and applications that run the entire store. Also, to provide solutions that eventually leads to customer loyalty and brings in more revenue for the organisation.

Retail Industry Solutions Leads to

* Improved Customer Experience – Entire retail chain works around customer satisfaction. Adding a dash of technology further transforms mere customers into loyal customers. These solutions give the retailers a chance to convert potential customers into actual customers and actual customers into loyal customers.
* Retail Made Lean – Retail solutions make it rather lean to handle smoothly and conveniently. Optimization of data as well as applications is the result of retail solutions. Further, the process helps in reducing energy costs in the stores.
* Safe and Secure Payment Options – The most important thing customer is worried of is the billing method. Swapping cards is rather prone to frauds and thefts. Hence, an improved retail system solution makes sure that, the systems are secured. The same is then communicated to the customers.
* Timely Delivery – Another important aspect of retail apart from management of in-store things is, timely delivery of products to the customers.

Cloud Computing for Retail Solutions

Customer’s expectations are ever expanding and so are business needs. Such challenges can be faced with an authentic cloud computing solution.
How?

* Brings innovation in the services to enhance customer shopping experience
* Required information can be retrieved by customers as well as by the employees
* Virtualization of data
* Helps in maintaining a standard in terms of security related issues

In this way, cloud computing helps in effectively addressing consumer’s expectations. At the same time it focuses on delivery of quality service to the customers.