Point of Sale (POS) is the point where the transaction is completed. Often the Point of Sale is also referred to as the Point of service. It is the point where the customers place orders or return them.
Within the last one year, lots of trends came and went away. One major one is the trends that small businesses set up. With COVID-19 still raging, there is a high possibility that the small businesses may set up more new trends. Keeping up with the trends can be hard work. Plus, since they keep changing, evolving so frequently, they can get exhausting. Add to this the fact that there are multiple trends going on at the same time so you never know which one to pay attention too.
This article is for entrepreneurs or small business owners who wish to keep an eye on the trends, keeping point of sale in mind that will take place in 2022 so you can do better.
Although, the trends keep changing frequently, somethings will remain constant. For instance, the market and business in future will remain inclusive yet diverse and will always remain focused on customer needs.
Some of the trends revolve around technology owing to the fact that it is constantly getting better. It is now improving at an even higher pace than 5 years ago. However, since so many trends revolve around technology and customer is the main character in every business’s story, the trends are trying to take a turn and return their focus towards customers.
Here are 7 Point of Sale trends that will be very much prevalent in the businesses that one needs to keep their eye out for.
Marketing on Social media is going to cost a lot more, this includes Paid Placement advertisement
Everything has been going online for quite some time now and will continue to do so. Ads, publicity, and many more things like sharing our progress online is going to cost a lot more than earlier. Since everyone will be choosing to go online, the competition will be pretty high, resulting in everyone spending a lot more on social media than they ever would have.
The need to get paid placement advertisement has gone even higher than before. According to what the algorithm detects, the advertisements get placed in a manner that seems to really surprise us but should not be very surprising.
Investment in multimedia will be much better for companies and will result in much better returns than traditional press releases
Press releases are a thing of the past. We find out a lot of the news from social media, although the press is what social media depends on and vice versa. Anything new that is going to be released, we find from social medias. Any new product, movie, book, magazine, new edition, new series, the sources is almost always the social media. So, it is obvious that investment in multimedia is going to give better returns than traditional press.
Augmented reality and Virtual reality
Considering that not everyone is fond of their reality, and even in general, people being fond of other realities, augmented reality and virtual reality may really take the business by storm.
Everything has gone virtual anyways, with important conference meeting, college and school’s exams and a lot more important things. Businesses have gone completely virtual, a trend which the small businesses started first. If we notice carefully, it is usually the small businesses to set trends for a lot of things. So, it may not be surprising if the small businesses do it first. After all, they are the ones who are really up for experimenting to climb the ladder of success.
Artificial Intelligence and Data analysis are going to be a big part of the trend
iOS 15, the new Apple update has come up with a feature where the users can choose whether they wish to allow various apps to track their movements on other platforms. This is so that we can prevent or allow various companies to show ads relevant to what we are onto at that very minute. Google always knows what we are up to and what do we need. Surprisingly, so does Instagram. It may look and feel creepy but it is just the artificial intelligence and data analytics working together and doing an excellent job.
Small businesses can implement new technology immediately
Being a small business sure means that there are going to be budget limitations but it also means that the business can implement new trends immediately with just one or two trials if the owner wishes to. On the other hand, the big, established businesses tend to test and test and retest again and then by the time they are done with it, they have to implement it since they have already used up so much of their resources. Hence, it is easy to assume small businesses are going to be both, the trend setters and trend followers.
The Federal minimum wage will increase and paid leave could become a law
It has been almost a decade since the minimum wage has been increased. The last time that minimum wage had been amended was in 2009 and it is high time that it be increased. Also, the entire world being in a pandemic, the need for paid family and medical leaves has risen more than ever. To attend to the need for income in every household and for people to be able to attend to their family’s needs, this might become a law soon enough.
Small businesses will need to adhere to COVID 10 vaccination policy and will have to take care of certain pandemic enforcements, especially if OSHA (Occupational Safety and Hazard Administration) steps up
During the entire pandemic, The Occupational Safety and Hazard Administration has been very quiet. But it is likely to change. The small businesses will have to start adhering to the CDC guidelines as to how to protect themselves, their customers and employees.
With the COVID-19 vaccine being widely available everywhere it will be up to the businesses as to how do they address it, how do they get their employees to get vaccinated. They can make it a compulsion, they can recommend it, whatever they deem fit.
Author Bio
Aline Huseby is a Sales & Marketing Manager at ChargeAfter. She would like to share content on Finance Industry like Point of Sales financing, Buy now Pay later, consumer financing & Ecommerce financing for valuable reader.
