How Quick and Easy POS Builds Trust and Improves the Overall Customer Experience
A key element often overlooked in many luxury retailers today is the experience at the point-of-sale (POS). How quickly do I get serviced, how easy is the process, is the process accurate and reliable, is my personal information safe? These are all questions going through a customer’s mind when she is checking out and paying for her chosen goods to purchase.
The rise of ecommerce has created more rigid expectations of the process being fast and efficient, and most notably, safe and secure. Yet most luxury retailers give the POS experience a backseat.
No time for long lines at the register
Have you ever walked into a store, seen a long line, and decided to leave and purchase the item online instead? This is very common in today’s world where time is limited and customer expectations are high.
POS process time hurts customer satisfaction
Another common issue is dissatisfaction with how long the process takes, even when there is no waiting in line. Or when there are issues at the POS, such a transaction not processing or some malfunction, the customer begins to feel nervous, frustrated, and dissatisfied. When leaving the store in this state of mind, the customer may consider avoiding the store in the future.
POS and sensitive customer data
Customers often associate aspects of the ease and efficiency of the POS process with the safety of their personal information. For luxury retailers, this could mean increased pressure given the higher cost of goods and the general high net worth of the average customer. But retailers across the board do not seem dedicated to allocating appropriate resources to data security. Estimates indicate that about 19% of retailers experienced a data breach in the last year, and for about half of those, it was not their first.
A majority of retailers have used, and will continue to use sensitive customer data, however only half feel that they have the proper security in place to protect this sensitive information. As customers become more aware of the lack of security retailers place around their personal information, the consequences would negatively impact overall brand identity customer trust.
In order to build more customer trust, retailers should not only dedicate more resources to data security but also to the overall POS experience. As the POS experience improves, so does customer trust. Building, maintaining, and nurturing this trust should be of utmost importance to retailers, particularly in the extremely competitive luxury market.
Author: Keila Tyner, PhD
Ms. Tyner is Selling Director – Women’s Designer Shoes at Saks Fifth Avenue, New York. She also teaches and writes about everything from the industry, to the psychology of fashion.