Retail POS Systems Statistics 2024 - Everything You Need to Know

Are you looking to add Retail POS Systems to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Retail POS Systems statistics of 2024.

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How much of an impact will Retail POS Systems have on your day-to-day? or the day-to-day of your business? Should you invest in Retail POS Systems? We will answer all your Retail POS Systems related questions here.

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On this page, you’ll learn about the following:

Best Retail POS Systems Statistics

Best Retail POS Systems Statistics

☰ Use “CTRL+F” to quickly find statistics. There are total 301 Retail POS Systems Statistics on this page 🙂

Retail POS Systems Benefits Statistics

Because of the benefits of integrating AI into your POS system, 15% of US businesses have already used AI. ^[0]

Retail POS Systems Usage Statistics

A survey of small businesses shows that 50% of small businesses believe that the various reports that they generate are crucial in helping sustain their POS usage. ^[1]
In the UK, supermarket plastic bag usage has fallen by 86% in 2018. ^[2]
Another plastic reduction measure is the 5p charge per plastic bag in England, which slashed plastic bag usage by 86%. ^[2]

Retail POS Systems Market Statistics

The largest POS market segment is POS hardware, which is predicted to reach $66.30 billion by 2025. ^[1]
Cloud POS systems have gone beyond the 20% critical level in market penetration. ^[1]
In the UK, supermarket plastic bag usage has fallen by 86% in 2018. ^[2]
Together with Google, Facebook controls 82% of the digital advertising market. ^[2]
Millennials and Generation Z will represent 45% of the global personal luxury goods market by 2025. ^[2]
Personalization works 88% of U.S. marketers reported seeing measurable improvements due to personalization — with more than half reporting a lift greater than 10%. ^[3]
Personalization reduces acquisition costs as much as 50%, lifts revenues by 515%, and increases the efficiency of marketing spend by 10. ^[3]
About 80% of businesses still rely on email marketing to assist with maintaining their client retention rate. ^[4]
It is no surprise then that over 78% of people surveyed believed that brands should not be able to use their personal data to market different things to them. ^[4]
Almost two thirds of buyers surveyed could not even recall the last time a brand exceeded their expectations, while a staggering 87% of marketers believed they deliver an engaging customer experience. ^[4]
Fill out this short questionnaire Revenues for businesses that prioritize customer service rise 4 8% above their market. ^[4]
69% of US marketers believe technology has made it harder for them to offer customers personalized experiences. ^[4]

Retail POS Systems Software Statistics

More than 86% of the total software spending in the retail industry is dedicated to the concept of “unified commerce.”. ^[1]
77% of users are satisfied or very satisfied with their point of sale software. ^[5]
88% of companies have had their POS software for less than 5 years. ^[5]
46% of companies spend less than $1,500/year on their POS software. ^[5]
37% of companies spent more on their software than they budgeted for. ^[5]
As of that time, 36 percent of respondents indicated they were using Oracle software for their point of sale system. ^[6]

Retail POS Systems Adoption Statistics

It is predicted that there would be a 50% increase in cloud based POS adoption in 2021. ^[0]
Before 2024 begins, a 50% cloud POS adoption rate is expected to be reached in all restaurant categories. ^[1]

Retail POS Systems Latest Statistics

Within 2020, the mobilePOS transactionvalue is $1,017,982 million, and54%of businesses have utilized mobile POS to process transactions. ^[0]
Forstoresthat are using mobile POS systems, 79% of them are small and mid sized brands with sales less than $10 million, while 21% of them are large enterprises Now that we understand POS. ^[0]
Forbes reported that 61% of retailers consider getting cloudbased POS for their business, 60% of new retailers ask for cloud based POS rather than traditional POS. ^[0]
It is estimated that in 2019 mobile transactions value on POS in the US is around $745,795 million and a year growth of 16.2% of mobile payment users. ^[0]
Save money Ewallet has a low interest rate of 12% compared to 2 3% rate of credit cards. ^[0]
Furthermore, 30% of US businesses are planning to make the jump within the next year. ^[0]
Another study found that 40% of 18 to 24year old customers are happy with AI shops for them, as long as it meets their preferences and expectations. ^[0]
The top POS priorities among North American retailers for 2020 are omnichannel capabilities integration (59%), improve existing POS (52%), unified ecommerce platform (44%), mobile POS (44%), POS upgrade or replacement (41%), and hardware upgrade (30%). ^[1]
59% of retailers made focusing on omnichannel capabilities their top POS priority in 2020. ^[1]
Meanwhile, 52% of retailers wanted to enhance their POS systems in the same year. ^[1]
Compliance (7%) and considering a unified payment platform (7%). ^[1]
16.9% – the expected annual growth of mobile POS value from 2021 to 2025. ^[1]
54% of businesses have used mobile POS for processing transactions. ^[1]
79% of stores that use POS systems are small and mid sized brands, while 21% are large enterprises. ^[1]
23% of mobile POS users still can’t accept payment using the tool. ^[1]
Today, 46% of retailers don’t utilize mobile POS to process their transactions. ^[1]
As of 2020, 50.6% of mobile POS users are male and 49.4% are female. ^[1]
Among consumers, 28.6% of mobile POS users are between 25 and 34 years old, which is also the age group with the largest number of users. ^[1]
The yearon year growth rate of mobile POS payment users is +10.1%. ^[1]
Mobile POS Payment Users Based on Income 30.8% belong to the low. ^[1]
16.3% = 45–54 years 7.8% =. ^[1]
34% of retailers use mobile website or applications to retrieve customer information they can use to create a more personalized experience. ^[1]
78% retailers plan to use mobile apps to help with identifying the customers in their stores. ^[1]
56% of retailers can retrieve buyers’ contact information during checkout; 22% of retailers can do so before checkout and 7% can get a buyer’s contact details after checkout. ^[1]
35% of retailers are already offering personalized rewards based on customer loyalty. ^[1]
Meanwhile, 23% of retailers plan to offer personalized rewards within 12 months, and another 23% plans to do the same within 1. ^[1]
41% of retailers plan to add “suggested selling based on previous purchases” within 1 3 years as part of creating a more personalized experience for the buyer. ^[1]
This is already being offered by 22% of retailers and another 22% also plan to implement the same personalization approach within 12 months. ^[1]
23% of retailers are exploring NFC & Beacons and 15% uses media listening as alternative customer identification technologies. ^[1]
91% of shoppers are more likely to buy in stores that can provide more personalized and relevant suggestions. ^[1]
83% of consumers are willing to divulge personal information in exchange for a personalized shopping experience. ^[1]
For 79% of shoppers, a key consideration when looking for stores to shop is personalized service. ^[1]
56% of consumers opt for businesses with brands that allow shoppers to use a shared cart across different channels. ^[1]
Only 7% of retailers are currently using cloudbased POS, but 28% claim that they plan to adopt cloud based POS in the future. ^[1]
52% of corporate organizations have fully transitioned to cloudbased POS; 40% more are planning to migrate to cloud. ^[1]
More than 60% of recent POS system purchases were cloud platforms, setting a new milestone when cloud platforms first surpassed legacy systems. ^[1]
Here are a few significant POS + AI statistics 15% of businesses in the United States have used POS with AI capabilities. ^[1]
40% of USbased businesses are planning to use AI enabled POS within the next 12 months. ^[1]
40% of customers in the 1824 age group are happy with the AI integration in stores that meet their expectations and preferences. ^[1]
Experts predict that AI enabled services will grow further, with 15% of businesses already deploying it in their POS systems. ^[1]
78% of retailers are not capable of identifying their customers until checkout. ^[1]
22% of retailers do not have the capability at all to identify their customers. ^[1]
22% of retailers use their customers’ purchase history to suggest new products or services. ^[1]
75% of companies are planning to allocate in store mobile tools in their budgets within the next year. ^[1]
49.3% of retailers agree that fraudulent activities occur the most during instore. ^[1]
Multichannel purchases are also vulnerable to fraudulent activities according to 18.8% of retailers. ^[1]
The use of POS exception based CCTV interface as part of security measures has increased by more than 16% since 2019, rounding up the businesses utilizing this technology to 49.3%. ^[1]
72.5% of businesses use POS data mining as part of their loss prevention system. ^[1]
In 2019, 65.1% of US based retailers turned to POS data to power their loss prevention efforts, registering a 7.9% increase from the previous year. ^[1]
Over 56% of retailers in the US have already deployed POS analytics to combat fraud. ^[1]
New POS systems based technologies, such as fingerprint ID, are emerging, with 5.8% of retailers already using the technology, 2.9% in the testing phase, and 2.9% planning to implement in 2021. ^[1]
Unified Commerce Markets Analysis 2020 Over 86% of All Software Spending in Retail Is Now Focused on the Concept of Unified Commerce. ^[1]
25% of all American jobs are supported by the retail industry. ^[5]
Brick and Mortar stores generate 94% of total retail sales. ^[5]
53% of consumers have quit an in store purchase because they used their phone. ^[5]
68% had found a better price elsewhere. ^[5]
89% of companies plan to compete their basic customer experience by the end of 2016. ^[5]
44% of all stores use mobile POS to ring up customers. ^[5]
79% of those companies are small. ^[5]
Poor customer service causes US brands an estimated loss of $41 billion annually. ^[5]
You are between 520% likely to sell to a new customer, as compared to being between 60 70% likely to sell to an existing customer. ^[5]
40% of 18 to 34year olds consult social networks for gift ideas. ^[5]
25% of the population in general uses social networks for gift ideas. ^[5]
56% of companies find their solution in 2 6 weeks of searching. ^[5]
54%of consumers consider no longer shopping with retailers who do not provide them with relevant content and coupons. ^[5]
98.6% of all retail businesses employ fewer than 50 people. ^[5]
Available to download in PNG, PDF, XLS format 33% off until Jun 30th. ^[6]
In the next 12 months, 29% of retailers will begin a POS upgrade while 26% had upgraded in the past two to four years. ^[7]
When retailers were asked about POS priorities for 2018, omnichannel integration (56%), adding capabilities (56%) and system upgrades or replacements (54%). ^[7]
Unsurprisingly, the leading function performed by the current POS, according to RIS News, was enabling transactions (89%). ^[7]
Just 12% were integrating the POS with consumer mobile apps vs. 60% with future plans, and the POS operating on a sales associate’s mobile device was implemented by 7% compared with 55% with intent to add it. ^[7]
Despite all of the attention focused on cashierless checkout in the Amazon Go mold, most of these retailers had no plans to implement this tech (53%). ^[7]
According to the BRP study, just 8% of retailers had implemented mobile POS that was working well, 17% adopted systems that needed improvement, but 31% of respondents had plans to adopt mobile POS by the end of 2018. ^[7]
Top Retail Statistics to Look out for in 2024, Editor’s Choice Digitally native brands are predicted to open 850 brickand mortar stores in the next 5 years. ^[2]
E commerce retail sales are expected to account for 13.7% of retail sales worldwide in 2019. ^[2]
62% of customers expect personalized discounts or offers based on past purchases. ^[2]
81% of shoppers do online research before committing to a purchase. ^[2]
31% of consumers say they do their shopping while flipping through their social media accounts. ^[2]
82% of consumers say they are more likely or much more likely to purchase from a brand with multiple delivery options. ^[2]
When shopping for new products, 49% of US consumers start by looking at Amazon. ^[2]
In store shopping is still the preferred retail channel for 82% of Millennials, even the ones who also engage in online shopping. ^[2]
The Trump administration’s tariffs on $200 billion of Chinese exports increased from 10% to a hefty 25% in May 2019. ^[2]
According to Vend’s analysis of the US retail sales statistics, that’s with a gross margin of 50.96%. ^[2]
Some of the most profitable retail industries by net margin are building supplies and distribution centers, which frequently see a 5% net margin. ^[2]
46% of retail participants reported closing establishments in 2018. ^[2]
Nevertheless, 68% still planned to open more establishments in 2019. ^[2]
37% retail professionals claim they had to close their establishments due to poor location choice. ^[2]
In the same 2019 Geoblink report on retailing today, 87% of retail professionals stated that a store’s location was a priority to their business. ^[2]
75% of consumers don’t necessarily identify quality with high prices. ^[2]
Over 78% of consumers would choose to spend money on an experience or an event. ^[2]
69% of consumers believe attending live experiences helps them connect better with the brand, their friends, and their community. ^[2]
77% of consumers, including 60% of Millennials, have fostered relationships with specific brands for over 10 years. ^[2]
52% of people regularly take pictures of their meals. ^[2]
As the 2019 KPMG report shows, as many as 11% of respondents take at least one picture of their food per week, while 9% are unable to go a day without capturing what they’re consuming. ^[2]
In 2018, food retail industry sales were up by 4%, with the expected surge near the end of the year, on the eve of the holiday season. ^[2]
The most useful kind of data retailers used to evaluate point of sale performance was internal sales data (79%). ^[2]
The next most helpful items on the Geoblink’s list were In store shopper behavioral data (65%) and customer data such as addresses and loyalty card information (55%). ^[2]
73% of consumers use multiple channels to shop. ^[2]
As many as 60% of consumers start their product search on the search engine. ^[2]
And according to Adweek’s article on retailing statistics, 61% will read product reviews before making any purchase. ^[2]
In 2018, retail ecommerce sales grew 23.3% over 2017. ^[2]
Ecommerce growth for 2020, and 2021 is expected to hit 19.8%, and 18%, respectively. ^[2]
67% of Millennials and 56% of Gen X consumers prefer to shop online. ^[2]
According to Survata’s Amazon study data, 36% of consumers start their search on a search engine. ^[2]
Only 15% go directly to brands or retailers. ^[2]
Also, 84% of US consumers plan on buying a gift on Amazon this year. ^[2]
Other online sales statistics indicate that half of them expect to spend at least 50% of their holiday budgets on Amazon. ^[2]
84% of retailers say VoC analytics are important, and 59% were investing in it by the end of 2019. ^[2]
The number of people with smartspeakersenabled and voice activated virtual assistants almost doubled from 14% in 2017 to 27% in 2018. ^[2]
The increased use of smart speakers at consumers’ homes is expected to drive the massive growth (1900%). ^[2]
OC&C expects smart speakers to penetrate 55% of US households by 2024 compared to 13% now. ^[2]
As 31% of shoppers are completely bored, they rely on virtual reality to take their minds off shopping. ^[2]
According to Alliance Data’s 2019 Now, New, Next trends report, we’re on the brink of a revolution in social shopping. ^[2]
Ecommerce retail sales were expected to account for 13.7% of retail sales worldwide in 2019. ^[2]
While ecommerce accounted for only 7.4% of global retail sales in 2015, the figure went up to 11.9% in 2018. ^[2]
By 2021, the share is expected to rise even more, up to 17.5% so start working on that eCommerce store ASAP. ^[2]
When shopping in store, consumers value “prompt service” most of all (54%). ^[2]
When consumers decide to purchase a particular product they then expect a personalized experience (30%) and smart recommendations (30%). ^[2]
53% of Millennials don’t think store associates have the tools they need to provide great customer service. ^[2]
Nearly 70% of shoppers live within the area of a retailer’s brickand. ^[2]
The number one reason (56%). ^[2]
Other reasons why top online retail sites can’t beat an in store shopping experience include products look different (41%), long delivery time (34%), high shipping costs (25%), complicated return process (16%). ^[2]
60% of men and 52% of women say they at least occasionally, if not more often, visit a store to see or try out items before buying them online. ^[2]
What’s more, 28% of these young men say they always or frequently do so, compared with 20% of young women. ^[2]
52.8% of Americans visit Walmart in one month. ^[2]
Shopping mall statistics from the 2019 retail report indicate that the strong digital growth, at 43% last quarter, has now propelled Walmart to within spitting distance of the No. 3 post position, displacing Apple, at roughly 4% of retail sales. ^[2]
Up to 20% of consumers who return an online purchase in store make an additional purchase. ^[2]
Gen Z shoppers were 8% more likely than other respondents to be influenced by the availability of financing, given that they likely have lower incomes to support their spending. ^[2]
A study from the Pew Research Center reveals that 79% of US adults have made an online purchase. ^[2]
What’s interesting is that 51% of Americans have used a mobile device for online shopping. ^[2]
67% of consumers have downloaded a retailer app. ^[2]
According to the 2018 Synchrony Retailer Mobile App tudy, over half of thoe who downloaded retailer appdid o in order to make ue of an app only coupon or dicount. ^[2]
Still, almost 50% actually used the app to make one or more purchases, adding up to a satisfactory result. ^[2]
Shopping sessions are 32% shorter when customers use mobile rather than desktop. ^[2]
In 2018, mobile sales accounted for nearly 40% of all retail ecommerce sales in the US. ^[2]
As eMarketer, the leading research firm forecasts, mobile commerce will account for 53.3% of all retail ecommerce sales in the US by 2021. ^[2]
In 2018, 39.6% of retail commerce was mobile. ^[2]
According to eMarketer, in 2020 mobile commerce will be only 1% below half of US retail ecommerce sales, and is expected to surpass them the following year. ^[2]
Digitally native brands are predicted to open 850 brickand mortar stores in the next five years. ^[2]
When asked what will they invest in this year, most retailers identified new products (65%) and store associates (61%). ^[2]
Despite anticipated bumps in the road, retail’s future looks bright, with a 4.7% growth expected in 2019. ^[2]
Amazon accounts for 49% of online spending in the US, which is about 5% of all US retail sales. ^[2]
With a 6.6% share of eCommerce sales, eBay holds a very distant second place. ^[2]
Apple comes in third at 3.9%, while Walmart occupies fourth place. ^[2]
Rounding up the top five, The Home Depot comes in with a share of 1.5%. ^[2]
Ecommerce dollars now comprise 10% of all retail revenue. ^[2]
The percentage of ecommerce sales varies markedly by product segment, from around 2% for groceries to more than 20% for apparel to the overwhelming majority of sales in categories where products can be digitally delivered, like music, books, and games. ^[2]
US autos are still subject to China’s standard tariff rate of 15%. ^[2]
Despite the rumors that the tariffs on Chinese goods would increase to 25%, China and the U.S. decided to restart trade talks and put the new rounds of tariffs on hold. ^[2]
25% of customer service operations will use virtual customer assistants by 2020, a jump from less than 2% in 2017. ^[2]
According to the findings of a 2018 Gartner report, more and more VCAs are implemented on mobile apps, websites, and social networks, to help businesses handle customer requests. ^[2]
Brand leaders plan to hire 50% more data scientists in the next three years. ^[2]
Data scientist job postings increased 31% year over year in 2019, a 256% jump from 2013.Because data scientists, like AI researchers, are so in demand, they often command extremely high salaries. ^[2]
An entry level data scientist or one with little experience makes over $100,000 a year, according to Glassdoor. ^[2]
Retail statistics predict that, within the next two years, 65% of retailers will offer same. ^[2]
Research from Boston Retail Partners shows 51% of retailers now offer some form of same. ^[2]
U.S. retail sales rose 0.2 percent in November 2018. ^[8]
Department store sales rose 0.4 percent in 2018, partially due to decent Black Friday holiday sales. ^[8]
However, department store sales were down 1 percent since last year. ^[8]
E commerce sales were up 11.4 percent over the previous year. ^[8]
Yearover year retail sales were up 4.3 percent. ^[8]
As of March 31, 2018, U.S. e commerce sales made up 9.46 percent of total retail sales. ^[8]
78 percent of global respondents to BigCommerce’s survey made a purchase on Amazon, 65 percent in a physical store, 45 percent on a branded online store, 34 percent on eBay, and another 11 percent on Facebook. ^[8]
Amazon owns 49 percent of online spending in the U.S., which is about 5 percent of all U.S. retail sales. ^[8]
81 percent of retail shoppers conduct online research before buying. ^[8]
77 percent of shoppers use a mobile device to search for products. ^[8]
The average gross margin in retail is 50.96 percent. ^[8]
2019 is predicted to see total retail sales grow 3.3 percent to $5.529 trillion, and e commerce sales are expected to grow 15.1 percent to $605.3 billion. ^[8]
51 percent of Americans prefer to shop online and 96 percent of Americans have made an online purchase in their life. ^[8]
95 percent of Americans shop online. ^[8]
at least yearly, 80 percent of Americans shop online. ^[8]
at least monthly, 30 percent of Americans shop online at least weekly, and 5 percent of Americans shop online daily. ^[8]
Gen Z respondents spend 8 percent more of their discretionary income each month online than the global average and tend to prefer online purchases to those made offline. ^[8]
In 2018, U.S. retailers spent $23.5 billion on digital ads, which is an 18.7 percent increase in spend from 2017. ^[8]
Only 9.6 percent of Gen Z reports buying items in a physical store. ^[8]
. ^[8]
Only 56 percent of Gen Z consumers made a purchase in a physical store in the last six months compared to 65 percent of all respondents. ^[8]
E commerce dollars now comprise 10 percent of all retail revenue. ^[8]
6 percent of online shoppers prefer mobile wallets over other forms of payment. ^[8]
Mobile sessions account for 59 percent of all sessions on e. ^[8]
79 percent of smartphone users have made an online purchase using a mobile device in the last six months. ^[8]
Almost 40 percent of all e commerce purchases during the 2018 holiday season were made on a smartphone. ^[8]
12 percent of Americans have paid for in store purchases by swiping or scanning their cellphones at the register. ^[8]
Users who have a negative experience on a mobile site are 62 percent less likely to purchase from that site in the future. ^[8]
30 percent of online shoppers say they would be likely to make a purchase from a social media network like Facebook, Pinterest, Instagram, Twitter or Snapchat. ^[8]
84 percent of online shoppers in the United States review at least one social media site before making a purchase. ^[8]
39 percent of Americans have shared their experiences or feelings about a commercial transaction on social media platforms. ^[8]
85 percent of orders from social media sites come from Facebook. ^[8]
Around 30 percent of online consumers said they posted product feedback online. ^[8]
38 percent of research ahead of a purchase is conducted on social media. ^[8]
More than half of consumers (57%). ^[3]
6.5% of millennials considered themselves brand loyal, and those who prefer personalized communications have a 28% higher brand loyalty than those who do not. ^[3]
But for what reason? 60% want to expedite their shopping experience 60% want to be offered relevant products 58% want a more personalized experience. ^[3]
58% say it would better their overall experience 50% say it would make omnichannel shopping. ^[3]
more seamless 79% of consumers say they are only likely to engage with an offer if it has been personalized to reflect previous interactions the consumer has had with the brand. ^[3]
78% of U.S. Internet users said personally relevant content from brands increases their purchase intent. ^[3]
Increasing personalization in more channels can increase overall consumer spending up to 500%. ^[3]
Consumer Loyalty Statistics Editor’s Choice 82% of companies agree that retention is cheaper than acquisition. ^[4]
75% of consumers say they favor companies that offer rewards. ^[4]
56% of customers stay loyal to brands which “get them.”. ^[4]
65% of a company’s business comes from existing customers. ^[4]
Increasing customer retention by just 5% boosts profits by 25% to 95%. ^[4]
58% of companies pursue personalization strategies for customer retention. ^[4]
The probability of selling to an existing customer is 60. ^[4]
In fact, loyalty statistics data proves that the probability of selling a product to a new customer stays at a low 5 20%, The Pareto Principle shows 80% of your profits come from just 20% of customers. ^[4]
This means that, by studying the top 20% of your customers, you can work out how to attract similar people and increase your future profits. ^[4]
58.7% of internet users believe earning rewards and loyalty points is one of the most valued aspects of the shopping experience. ^[4]
This was the second most common answer, only below “Quick and easy checkout” in the same product loyalty research, which stood at a high 83%. ^[4]
87% of Americans are willing to have various details of their activity tracked in exchange for more personalized rewards and brand experiences. ^[4]
Over 70% of consumers are more likely to recommend a brand if it has a good loyalty program. ^[4]
So much so that 77% of people are more likely to continue using a brand’s services if it has a loyalty program. ^[4]
95% of loyalty program members want to engage with their brand’s program through new and emerging technologies. ^[4]
56% of programs employ game mechanics in their loyalty programs. ^[4]
72% of US adults belong to at least one loyalty program. ^[4]
77% of brands could disappear, and no one would care. ^[4]
This figure represents a 3% increase compared to the customer loyalty research from just two years ago. ^[4]
75% of consumers expect brands to make more of a contribution to their well being and quality of life. ^[4]
Of all those people, only 40% actually believe brands are contributing to their overall quality of life. ^[4]
60% of brand created content is failing to deliver. ^[4]
69% of US consumers say customer service is very important when it comes to their loyalty to a brand. ^[4]
54% of consumers say they’ve had at least one bad customer service experience in the last month. ^[4]
In fact, customer satisfaction statistics show the average American consumer is even more likely to tell 15 others about a negative experience they had with a business. ^[4]
In 2014, this number was at 67%, which indicates that US businesses have realized the advantages that quality service offers. ^[4]
77% of consumers say they stayed loyal to specific brands for 10 years or more. ^[4]
Despite their relatively young age, they already have long term relationships with brands at the rate of 60%. ^[4]
90.2% of US consumers feel equally or more loyal to a brand than they were a year ago. ^[4]
55.3% of consumers stay loyal to a brand because they love the product. ^[4]
51% of people cite this very reason, while only 23.5% of loyal customers abandon brands because of poor customer service. ^[4]
69% of US consumers do not trust advertisements. ^[4]
93% of consumers are more likely to make repeat purchases at companies with excellent customer service. ^[4]
74% of millenials will switch to a different retailer if they receive poor customer service. ^[4]
This number is high, but it is also significantly lower when compared to gen X and baby boomer consumers, where an estimated 86% and 85% would leave after one bad customer service experience. ^[4]
90% of US consumers prefer national brands to store or local brands. ^[4]
The biggest categories consumers are loyal to on the national level are electronic devices at 79%, apparel and footwear at 65%, and health and beauty products at 59%. ^[4]
More than 50% of Americans have cancelled a purchase because of bad service. ^[4]
Customer retention statistics additionally show 33% of US consumers consider abandoning a business and switching to a competitor after just one instance of bad user experience. ^[4]
50% of US consumers have left a brand they were loyal to for a competitor that better met their needs. ^[4]
37% of consumers feel they need at least five purchases to consider themselves loyal to a brand. ^[4]
A third of people will say they are loyal customers after three purchases, while only 12% will consider themselves brand. ^[4]
61% of consumers think surprise gifts and offers are the most important way a brand can interact with them. ^[4]
Other top answers from the research are a more convenient shopping process at 50%, solving a problem or a question at 45%, and recommending products based on needs at 27%. ^[4]
77% of consumers say they favor brands that ask for and accept customer feedback. ^[4]
The same research found that 68% of consumers will view brands more favorably if they offer or contact them with proactive customer service notifications. ^[4]
Globally, 67% of consumers feel like customer service is improving. ^[4]
What’s more, the main reason for customer frustration at 30% is not being able to reach the support staff. ^[4]
48% of people expect specialized treatment for being a good customer. ^[4]
86% of customers say an emotional connection with a customer service agent would make them continue to do business with the company. ^[4]
The same study found that only 30% of customers felt companies made that connection with them in 2018. ^[4]
75% of them believed those platforms are not viable for customer service. ^[4]
Total spending for Halloween 2021 is estimated to hit the all time record of $10.1 billion. ^[9]
Over 75% of respondents said that COVID 19 affected their Halloween plans. ^[9]
65%202058%201968%201869%201771%Purchasing plan on HalloweenCandy96%Decorations78%Costume68%Greeting card45%Sweets have an uncanny ability to improve your mood and bring a smile to your face. ^[9]
Thus, Halloween 2021 could be a candy moment during the COVID. ^[9]
pumpkin44%Throw a party25%Take children trickor treating25%Visit a haunted house18%Average spending of an AmericanLike many holidays this year, Americans plan to celebrate Halloween despite the ongoing pandemic. ^[9]
Per person’s Halloween spending increased steadily from 2005 to 2021, with an average33%Costume shop20%15%Friends15%Youtube15%Top purchase locations on. ^[9]
HalloweenDiscount store31%Costume store27%Online20%Grocery store18%Department store16%Home decor10%Because many stores are open after social distancing, the top shopping destinations have remained unchanged this Halloween. ^[9]
23–26%) are still more convenient places to shop than home decor, crafts or fabrics, clothing stores . ^[9]
14%).Halloween 2021 may be different depending on the local safety guidance. ^[9]
BNPL services are seeing 200%plus increases during COVID19 With cash strapped customers turning to payment deferment methods in order to make purchases during the pandemic, the BNPL sector has achieved record growth throughout 2020. ^[10]
The company processed more than $65 million in merchant sales during that quarter, a number that represents a 176% growth quarteroverquarter and 260% yearover. ^[10]
By June of this year, the Australian based firm had boosted its US user base to 5.6 million, an increase of 219%. ^[10]
➤ 87% of consumers between the ages of 22 and 44 have expressed interest in BNPL. ^[10]
It’s almost ubiquitous Data compiled by PYMNTS.com in a report on the BNPL industry showed that a whopping 87% of consumers between the ages of 22 and 44 have expressed interest in BNPL. ^[10]
One potential reason for the acceptance for BNPL is because young people just don’t have credit cards — according to a 2016 survey by Bankrate, only 33% of those between the ages of 18 and 29 are toting plastic. ^[10]
➤ 37.6% of consumers have used a BNPL service As BNPL is becoming more well known with consumers, it’s becoming a more popular choice at checkout. ^[10]
According to the same survey, 20.8% of consumers first used a BNPL service in 2020 compared to just 7.4% that had used one before 2015. ^[10]
Per a different poll run by The Ascent, 46% of Americans have had to take out a personal loan to make ends meet during the pandemic. ^[10]
For instance, a 2019 case study released by Klarna highlighted how fitness clothing retailer Gymshark noticed a 33% increase in customer basket size after it added a BNPL option at checkout. ^[10]
➤ 39.3% of consumers use BNPL because they don’t want to incur credit card interest. ^[10]
For example, credit cards routinely feature interest rates at an average 24.4% for those with bad credit. ^[10]
Using BNPL services to make big purchases is a close second — 38.3% of respondents said they opted into a BNPL service because the purchase wouldn’t otherwise fit their budget. ^[10]
According to survey results released by the BNPL service, 54% of Americans are scared about taking on too much credit card debt — something BNPL can help avoid. ^[10]
➤ 65% of BNPL users have made two purchases within six months of each other Any business needs repeat customers. ^[10]
In its latest biannual global fashion and trend report, Afterpay revealed that 65% of its user base made at least two purchases in the past six months. ^[10]
More than 60% of survey respondents said the biggest benefit of omnichannel is the ability to provide better customer service. ^[11]
64% of consumers want personalized offers from retail brands, according toSalesforce’s 2016 State of the Connected Consumer Report. ^[11]
It’s important to stay on top of this, especially considering that 6% of all possible sales are lost because of lack of service, according to one MIT Sloan study. ^[11]

I know you want to use Retail POS Systems, thus we made this list of best Retail POS Systems. We also wrote about how to learn Retail POS Systems and how to install Retail POS Systems. Recently we wrote how to uninstall Retail POS Systems for newbie users. Don’t forgot to check latest Retail POS Systemsstatistics of 2024.

Reference

connectpos – https://www.connectpos.com/retail-pos-trends-and-statistics-for-2021/.
financesonline – https://financesonline.com/pos-statistics/.
smallbizgenius – https://www.smallbizgenius.net/by-the-numbers/retail-statistics/.
revelsystems – https://blog.revelsystems.com/blog/2018/06/06/proof-personalization-stats-roundup.
smallbizgenius – https://www.smallbizgenius.net/by-the-numbers/customer-loyalty-statistics/.
capterra – https://blog.capterra.com/illuminating-retail-stats-that-will-change-the-way-you-run-your-store/.
statista – https://www.statista.com/statistics/753618/north-america-point-of-sale-system-vendor-software/.
emarketer – https://www.emarketer.com/content/pos-systems-are-getting-upgrades.
g2 – https://learn.g2.com/retail-statistics.
magestore – https://www.magestore.com/blog/halloween-statistics/.
merchantmaverick – https://www.merchantmaverick.com/buy-now-pay-later-statistics-2020/.
vendhq – https://www.vendhq.com/blog/pos-data/.

How Useful is Retail Pos Systems

One of the key benefits of retail POS systems is their ability to streamline the checkout process. Gone are the days of manually keying in prices and calculating totals by hand. With a POS system, transactions are processed quickly and accurately, reducing the chance of human error and improving customer satisfaction. This not only saves time for both the customer and the cashier but also allows businesses to serve more customers in less time, increasing overall sales potential.

In addition to speeding up transactions, retail POS systems also provide valuable insights into a business’s operations. By tracking sales data, inventory levels, and customer preferences, retailers can make informed decisions about their products, marketing strategies, and overall business performance. This data allows businesses to identify trends, forecast demand, and optimize their pricing and promotions to maximize profitability.

Furthermore, POS systems can help businesses manage their inventory more efficiently. By automatically updating inventory levels as sales are made, retailers can avoid stockouts and overstock situations, leading to a more balanced and profitable product mix. In addition, POS systems can generate reports that show which products are selling well and which are not, allowing businesses to make informed decisions about which products to reorder, discount, or remove from their inventory.

Another key benefit of retail POS systems is their ability to improve customer service. With features such as integrated customer relationship management (CRM) tools, retailers can track customer purchase histories, preferences, and contact information, allowing them to provide personalized service and targeted marketing campaigns. In addition, POS systems can facilitate loyalty programs, promotions, and discounts, creating opportunities to build customer loyalty and repeat business.

Moreover, retail POS systems offer enhanced security features that help protect both businesses and their customers from security breaches and fraud. By encrypting payment data, requiring user authentication, and monitoring transaction activity, POS systems can help prevent unauthorized access and fraud attempts. This not only protects businesses from financial losses but also enhances trust and confidence among customers, increasing their likelihood of returning to shop again.

Overall, retail POS systems are an invaluable tool for businesses looking to streamline their operations, improve efficiency, and increase profitability. By automating transactions, providing valuable insights, managing inventory effectively, enhancing customer service, and boosting security, POS systems offer a wide range of benefits that can help retailers succeed in today’s competitive market. As technology continues to evolve, retail POS systems will only become more advanced and indispensable for businesses seeking to stay ahead of the curve and meet the ever-changing demands of their customers.

In Conclusion

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Retail POS Systems Statistics 2024 – Everything You Need to Know