Running an electronics store without the right point of sale (POS) system is like trying to assemble high-tech gadgets without instructions — it's frustrating and destined for failure.
If you’re still using spreadsheets to manage your electronics store, you’re missing out on incredible technology that can make things 10 times easier. Is your inventory perfect? Do you know how your employees are performing? What about sales?
If the answer is a resounding no, it’s time to invest in POS software that lets you manage multiple locations in real time — with the features you need and none that you don’t — so you can drive growth in your electronics business.
This article highlights the features you should look for in electronics store POS software to crush revenue goals, keep customers happy, and easily manage your entire operation.
What To Look For in POS Software for Electronics Stores
Running an electronics store has unique needs that require industry-specific tools. From complex inventory to day-to-day operations, a generic retail point of sale system just won’t do.
Without a tailored POS solution, you’ll be flying blind. There are various issues you might face:
- Lackluster reporting and analytics will not show you your top-selling products, help you understand customer purchasing patterns, or optimize your product mix.
- Your supply chain will suffer without real-time visibility into inventory levels across your stores.
- You won’t motivate your staff to sell more and earn commission.
In short, lacking a purpose-built POS solution for your electronics operation jeopardizes your profit margins, customer service, and ability to efficiently scale your business.
Related Read: 5 Ways To Increase Your Repair Shop Profits
Advanced, electronics-specific software will help manage thousands of SKUs, track IMEI numbers, and provide reports on your most profitable products. It will allow you to manage multiple locations from one central interface and help drive growth in your business.
Let’s dig deeper into these features so you can find the best POS solution for your business.
#1: Complete Electronics Inventory Management
Let's start with the big one: comprehensive inventory management capabilities. As an electronics retailer, you deal with multiple products, often across multiple locations. Tracking inventory can be challenging at the best of times.
Inventory management software designed for your store lets you organize and synchronize stock levels across all locations in real time. When you make a sale, inventory updates immediately. This live insight into your inventory helps you:
- Avoid overselling your most popular products
- Prevent out-of-stocks with reordering thresholds and alerts
- Reduce carrying costs by only stocking what you need
Customers will thank you, too. Electronics are often big and exciting purchases. If customers can’t get what they want because you’re sold out, they’ll go elsewhere. Tracking customer demand leads to efficient ordering.
Most importantly, for electronics retailers, your POS system should include serialized inventory management to track products by their unique IMEI or serial numbers. This provides full accountability for every item in your system to reduce shrinkage. You'll also be able to attach serial numbers to customer records for warranty and insurance purposes.
#2: Advanced Reporting and Analytics
If you don’t know your numbers, you don’t know your business. The right POS system has detailed reports on all aspects of your store so you can optimize operations. Key reports should include:
- Sales reports by device category, brand, location, employee, hour, and more so you understand your top revenue sources
- Inventory reports on top-selling products, stock levels, shrinkage, and replenishment needs
- Employee reports tracking sales performance, labor costs, and effectiveness of commission programs
- Customer reports with contact information and purchase history to inform loyalty programs
Related Read: How To Find the Best POS System
You can find trends, track customer preferences, and forecast demand with historical data. You don’t need to rely on gut instinct — you’ll have the insights to make the best decisions for your stores.
#3: Multi-Location Management From Anywhere
If you have multiple electronics stores, how great would it be to manage all of those stores from one centralized POS platform? Without it, siloed operations and lack of visibility across locations prevent growth.
A cloud-based POS system with a single dashboard shows you sales data, inventory, store traffic, and other numbers on which you’re trying to move the needle.
Some POS systems even make it easy to transfer inventory across stores and have chat features that let you receive and respond to messages from all locations in one place. If you want to push out updates or offer promotions in different stores, you can. These multi-store management features keep you agile.
#4: Customer Retention Tools
Your customers are the lifeblood of your business, and you want to build lasting relationships with them. When new products come out, will your customers consider your store their first choice?
The right POS system has loyalty software baked in. With customer relationship management (CRM) software, you can:
- Capture customer data at POS to build detailed profiles
- Track purchase history and shopping patterns for insight
- Set birthday reminders and offer special discounts
- Notify customers when repair orders are ready for pickup
- Offer loyalty programs and personalized promotions
- Prompt cashiers to ask customers if they want add-ons, like cases, chargers, and more
- Enable customers to schedule technical support or repair appointments
- Access a unified profile of each customer across all stores and channels
Some POS providers understand that electronic systems need alternate features. At CellSmart POS, we offer a layaway feature. With our POS software, you can offer your customers a layaway payment option so they can pay for their purchases slowly — and you can make more sales.
Last, don’t miss out on repair sales! An electronics store POS that lets you keep track of repair tickets and updates your customers regarding the completion of the repair for a pickup is invaluable — and a great addition for customers.
#5: Employee and Commission Management
Skilled sales staff drive revenue.
Why not compensate them and share your profits? When employees can earn commission, they’re more driven to sell. The right POS software will have tools to track employee performance, offer incentives, and encourage friendly competition.
Key features include:
- Sales performance tracking by employee
- Sales performance tracking by employee to quantify results
- Flexible commission structures to motivate and reward your top-sellers
- Real-time visibility into commissions earned to keep staff engaged
- Gamification through leaderboards and goal tracking to drive friendly competition
Outside of commission, you also need your software to track employee hours, create payslips, and provide detailed reports on daily hours, and completed or ongoing tasks.
Other Features To Look Out For
You’ve got the main features you need in POS software. But there are others to consider:
Ease of use: Implementing new POS software across multiple locations can be daunting if the system is complex and challenging to learn. You want a system that’s easy to use from the start.
Integration: Your store needs an online presence. The right POS software integrates with your e-commerce store, allowing you to manage inventory and serve customers across multiple channels.
Easy payments: You want a POS system that lets you accept all forms of payment, including debit, credit, and cashless payments, like Samsung Pay, Apple Pay, Zelle, Venmo, and Cash App.
Invest in the Right POS Software for Electronics Stores
Finding the right POS software for your electronics store is tough, with so many options available. Start by looking at the features POS providers offer — do they align with your unique needs? Let’s recap the most important features:
- Comprehensive inventory and serialized tracking
- Advanced reporting and analytics
- Multi-location management from anywhere
- Integrated customer retention tools
- Custom incentive programs to motivate your team
Choosing the right platform is essential, yet it’s easy to settle for subpar solutions only to outgrow them quickly.
CellSmart POS offers a unique alternative — purpose-built POS software with all the capabilities covered to meet the needs of multi-location electronics businesses. And with no long-term contracts or commitments required, you still have flexibility.
Want to see our software in action? Schedule a demo today, and we can find gaps and opportunities to drive growth in your business together.