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Digitising brick-and-mortar retail stores

Retailers stand to benefit from a ground-breaking mobile Point of Sales solution developed by EU project Kaching.

Digital Economy

Retail is becoming increasingly digital, and traditional brick-and-mortar stores that fail to adapt risk losing market share – or worse. That’s why some of the leading names in retail are looking for innovative new solutions that combine the convenience of online shopping with the customer focus of the in-store experience. To help retailers strike this balance, Kaching Retail, a Sweden-based technology company, has developed a flexible line-up of digital applications for every type of store. “The retail ecosystem must incorporate solutions that meet 21st century customer expectations,” says Nick Toumpelis, Product Lead at Kaching Retail and Kaching project coordinator. “With the support of EU funding, we set out to discover what the particular needs of today’s retailers are and, based on this, create the right product.” The outcome of this effort is a ground-breaking mobile Point of Sales (mPOS) solution.

Back to the drawing board

Initially, the mPOS solution was designed for retailers coming from the large enterprise segment of the market, such as IKEA and MediaMarkt. However, Kaching quickly discovered that this targeted segment posed some significant challenges. For example, large enterprises require a POS solution to be fully integrated into a company’s existing – and often complex – product catalogues and accounting, customer relationship management, and enterprise resource planning systems. “Although retailers understand the need to improve their customer experience – and want to have systems to facilitate these improvements, they are often held back by concerns over business disruptions, sunk costs and compatibility with other critical systems,” explains Toumpelis. As a result, the company decided to go back to the drawing board. The result is an mPOS that is faster to scale, easier to manage and more robust than anything currently on the market – and thus ideal for both large enterprises and small businesses alike. “In addition to being a perfect match for this niche market, our solution is complete, efficient and a delight to use – both for the retail end customer and for store employees,” says Toumpelis. “By emphasising mobility and leveraging the power of artificial intelligence and data mining, the Kaching mPOS enables a better store experience.”

By Europe, for Europe

Although POS systems are quite common, the Kaching solution stands out in that it was designed without any preconceived notions about what an mPOS solution should look like. “As we talked with retailers, we discovered a lot of unmet needs,” adds Toumpelis. “We designed Kaching to address these needs, and the customer and employee satisfaction metrics that we monitor are a testament to that.” The Kaching mPOS is also unique in that it is a European solution that empowers European retailers to compete against the likes of such online retail giants as Amazon, Walmart and Alibaba. Kaching is now using the insight it gained during this project to develop an mPOS version specifically for small retailers.

Keywords

Kaching, Kaching Retail, mobile Point of Sales, mPOS, Point of Sales, POS, retail, brick-and-mortar store, online shopping, Ikea, MediaMarkt, artificial intelligence, AI, Amazon, Walmart, Alibaba

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Digital Economy

5 November 2018