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Boost Sales & Efficiency: How A Magento POS System Benefits E-commerce Stores [2024]

By Katie Nguyen Last updated: 10 minute read E-commerce & RetailMarketing GuidesMarketing Tools

Running an e-commerce business is no small task, and we all know how quickly things can go sour if you can’t handle customers’ increasing needs.

If a buyer has trouble buying an item, there is a high chance that they won’t complete their purchase or even come back to your website again. This is where a Magento POS system can really make a difference.

A well-equipped Magento point-of-sale system would be the answer here, helping you execute sales in every store and every channel efficiently.

If you plan to maximize sales potential and help your business grow, keep reading to discover how Magento’s point-of-sale solutions can make a difference.

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    What Is a Magento POS System?

    A POS system (Point of Sale) includes software and devices in a retail store that allows businesses to accept customer payments.

    An advanced POS system provides more functions for the store, such as order management, inventory management, omnichannel synchronization, purchasing management, etc.

    A Magento POS system is a point-of-sale solution specifically built for Magento merchants. Magento point of sale can improve various aspects of a Magento store, including checkout speed, sales conversion, selling in multiple locations, and more.

    On the other hand, Magento is an open-source e-commerce platform that supports a wide range of business types, including accessories, food & drink, fashion & apparel, homeware, sporting goods, and more.

    Two main components of  Magento POS are:

    • Hardware: POS hardware is a central terminal with options for several accompanying devices, such as a barcode scanner, a card machine, or a receipt printer. These devices are interconnected wirelessly or by cables to process business transactions. When choosing hardware, you must ensure your POS works well with terminal hardware and accepts only payment gateway, for example, Stripe POS, Tyro POS, etc.
    • Software: POS software is an operating system that monitors sales from various locations. It can help businesses with sales reporting, inventory management, and cash flow management in one place.
    E-commerce point of sale systems synchronize data between customers, orders, payments, inventory, and shipping systems
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    What Can a Magento POS System Do to Benefit E-commerce Stores?

    Imagine if you could control all of your online and offline sales from a single window. What if you could see all the product updates from all channels in real-time without missing a single piece of information?

    That is the power of an excellent Magento point-of-sale solution, which we will cover more below:

    1. Sell Omnichannel

    Having an omnichannel strategy is essential for any e-commerce business nowadays because you can’t just meet customers in one place anymore.

    They can buy from your popup shop, your business location, or the website but still expect the same experience. Failing the consumers in just one place, and you will fail them everywhere.

    A point-of-sale POS system for Magento can solve this problem by connecting the inventory storage of all locations, creating a seamless buying experience for all of your channels.

    For example, when an unfortunate scenario happens in which a customer comes to your retail store to get an article or item that is out of stock at the store. But now, your staff can check on the POS device to see the product’s availability in other locations and ship it to the customer’s home. This is a sure way of boosting your customer satisfaction level.

    Another scenario is when a customer orders online but wants to receive the item in person at one of your business locations, maybe because they want to try it out before using it.

    Your POS system can connect with the sales data from the Magento website and then sync with the device at the store to update the product’s status so the store’s staff can take care of the customer when they arrive.

    Check out this video by Optimum7 for more on omnichannel e-commerce:

    2. Manage Inventory Conveniently

    As mentioned above, connecting your Magento store to a point-of-sale POS system will allow you to control inventory even with multiple locations. In a single window, you can see an overview of product availability, sales, and restock if there is any sign of shortage.

    You can also share the inventory management power with your staff so they can cooperate and resolve any issues that arise with inventory.

    With the power of AI, in the future, we can expect a sales system for automatic product restocking and distribution to optimize not only the employees’ workflows but also the business operations.

    3. Accept Payment Anywhere

    E-commerce can happen everywhere in the world, and you can think of selling at any location, whether on the street, at a festival, or at a time-limiting event.

    Now, you can access all online and offline payment processing at your fingertip by using an Android or iOS device integrated with the Magento store.

    A powerful payment terminal with Magento can be installed on a smartphone, tablet, or dedicated device as long as the POS software is installed.

    The data is updated in real-time, too, syncing from anywhere for anyone. Popular payment methods such as Stripe, Visa, Mastercard, etc., are all available now.

    4. Update Products Easily

    Selling in many locations also means that many product updates happen simultaneously, whether by staff managing the online or offline stores.

    With just one mistake in selling items, the whole process chain can be broken, leaving countless customers feeling frustrated.

    For example, during a sales campaign, your store can receive a surge of customers coming to the store. Your employee will have to act quickly during the event to process payments, control stock, and work together to support every buyer.

    A good POS system will save a lot of time and effort in this scenario, especially preventing any lag or downtime that can affect the data sync and the sales number.

    Moreover, when you have a single window for both the offline and online channels, you can easily adjust the pricing strategy from one place to maximize sales. This means you won’t have to log in to Magento to manually update the prices but do all through the POS software.

    5. Sales Reporting

    Again, it’s important to mention the power of a one-window view for Magento POS because you can access all sales data on one device. You can check the number of products sold daily or in any other time frame. You can also see the source of these sales to reallocate the resource.

    For example, if you see the data report on the POS software and find that people are suddenly increasingly buying an online item, you can quickly order more to restock and avoid running out of products to sell.

    Another example is when you want to adjust the sales strategy, the monthly or quarterly sales numbers will be highly valuable.

    6. Save Time and Effort for Staff

    According to Statista, small companies take the longest time to train each employee, roughly 59 hours per staff member.

    The best Magento 2 POS software will shorten this time by providing information about the types of products and their respective numbers across all channels.

    Back in the day, you would need to have staff memorizing all products in store by mind, but now, they can read related information anywhere and at any time.

    With ready-to-use information, employees can also save time getting used to the business process and serving customer requirements accurately and faster. This results in better quality service and provision given that the employees will have all the information they require for effective customer service.

    7. Invest in Business Efficiency

    Last but not least, while the cost of a Magento point-of-sale system is not always low, you can be sure to choose the best POS for a more effective business operation.

    Businesses that choose Magento are often ambitious in expanding based on the stability of the platform; therefore, a POS system that is stable on the same level will be extremely valuable.

    Optimizing the business operation is one of the most impactful factors in long-term success, but how can you choose the best Magento POS solution when there are so many out there? The next part will help you.

    Summary: Benefits of Using a Megento POS System

    • Omnichannel Selling
    • Convenient Inventory Management
    • Accept Payments from Anywhere
    • Easily Update Products
    • Reporting on Sales Data
    • Saves Time and Effort for Staff
    • Investment in Business Efficiency

    How to Choose The Best Magento POS System for Your E-commerce Business?

    Let’s take a look at five things to consider when choosing the best POS system for your Magento store:

    1.The Type of Business You Run

    Firstly, let’s ask a simple question: What is your business type? A clothing merchant may have very different needs from a jewelry merchant, so the need for a payment terminal with Magento can be wildly contrasting.

    While many Magento 2 POS systems offer plenty of features, you should be able to narrow down a list of essentials by focusing on the real needs of your eCommerce business.

    A POS system that works well for others doesn’t mean it will be good for yours. Your business type should be the first principal to determine your POS software or hardware.

    2.Features

    As mentioned above, you should look for a Magento POS system that can match your business needs, not only the top-reviewed ones. The vendors should also be able to scale up when you expand the sales channels.

    A good starting point is to list the functionalities you want to have and the following features. Some basic features that should be covered are transaction reports, customer engagement, inventory tracking, and employee settings.

    3.Support Offered

    Your POS vendor’s support is crucial because you will need help when your business grows or issues arise. Look for providers that have been in operation for a long time and have many testimonials from their previous customers.

    You should ask the vendor if they can meet your requirements, and the agreement should be legally documented, too. If you and your staff are new to POS, it’s a good idea to ask for user guides and training resources. If your vendor is from another country, ensure technical support is available during business hours.

    4.Reviews from Its User Base

    One of the easiest ways to recognize a trusted POS vendor is by looking at what their existing users say about them. Reviews, testimonials, social media talks, and communities are all good sources of information.

    You can also search for the vendor’s knowledge base to see if they provide much guidance to users. A top Magento POS provider should know how to handle their user base.

    5.Pricing

    Each organization can have a different budget, so try calculating the investment you are willing to make so your new POS point of sale won’t break the bank. POS software and hardware have different costs or monthly fees, so you must consider that.

    Luckily, many POS systems offer a free trial, so you can try before making the final payment. But they may require some more extensions, which come with an extra fee. Transaction fees should also be aware of as they can add up over time.

    Summary: What to Consider When Choosing an E-commerce POS System

    • The type of business you run and your POS needs
    • Features
    • Support offered by the provider
    • User reviews and testimonials from businesses like yours
    • Pricing

    Final Words

    Have you learned about the benefits of Magento POS solutions for your e-commerce store?

    The next step should be making a list of the functionality and features your business needs in a point-of-sale system and then looking for the right fit.

    Best of luck finding the best option for your store!

    About the Author: Katie Nguyen

    Katie Nguyen is a Digital Marketing Specialist and retail expert at magestore.com, the top-ranked POS solution for Magento & Shopify vendors.

    With over four years of experience, she provides helpful insights to retailers for seamless store operation, writes high-quality educational content, and gives expert advice on the best practices and solutions for e-commerce businesses. 

    Frequently Asked Questions

    What factors should I consider when choosing a POS system?

    Choosing a POS system requires considering your business size, budget, and essential features like inventory management. The system should be user-friendly and adaptable to future growth, while also integrating seamlessly with Magento if you're using their e-commerce platform.

    What is involved in setting up a POS system?

    Setting up a Magento POS involves installing hardware, configuring the software, potentially migrating data from existing systems, and training your employees. It's crucial to plan ahead and thoroughly test everything before deployment to ensure a smooth transition.

    Does the Magento POS vendor offer ongoing training and resources?

    Magestore, a Magento POS vendor, offers ongoing training and resources to help businesses maximize their Magento POS system. These include consultation and roadmap services, dedicated support and maintenance, free resources, and a user-friendly interface.