Franklin, Tenn. — Overall, mobile technology has created a roughly $8 billion industry in retail/hospitality worldwide, with POS a major factor. According to a new study from IHL Research, “Mobile POS: Reaching Escape Velocity – All Systems Go,” tablet POS systems are growing at a more than 300% rate in specialty retailers compared to 2013 levels.
In addition, more than 50% of general merchandise retailers are either piloting or planning to roll out mobile POS during 2014. And 68% of survey respondents expect customer satisfaction levels to increase following a mobile POS rollout.
While most retailers still view mobile POS as an incremental customer touchpoint rather than as a wholesale replacement for fixed POS, retailers expect to purchase 20% fewer traditional POS terminals the next time they upgrade. This is true although IHL data shows that some retailers are reporting decreased customer and employee satisfaction levels once mobile POS is deployed.