The POS Industry Research Top 6

October 04, 2022

Our Roundup of Surprising Stats

 

Each month, TimePayment accesses POS industry research* to help guide you on making the most of today’s business opportunities.

This month, we evaluate the role of online presence and payments.

By the numbers:

  1. Only 8 in 50 restaurants will buy their next POS without first evaluating an online hardware/software provider.
  2. Only 11 in 50 merchandise retailers will buy their next POS without first evaluating an online hardware/software provider.
  3. Only 29 in 125 hotels will buy their next POS without first evaluating an online hardware/software provider.
  4. Convenience and simplicity are more valued over monthly cost 72% of the time among retailers in POS acquisition.
  5. 72% and 63% of restaurants and hotels respectively will seek financing for their next POS purchase.
  6. Only 8 of 63 POS dealers offer an all-in-one hardware/software solution available via a turnkey buying process online.

Key Takeaway: Not featuring payment options prominently will lead to lost opportunities. TimePayment can help dealers build an easier buying process with affordable payments that attract more customers.

 

* 1H22 Greenwich | Sawbux Survey of Commercial Finance Decision Making

Related articles

dollar puzzle with piece missing
January 31, 2020

The Best Thing for Your Bank Relationship

Finding Diversification in Your Sources of Capital Many of you may feel your banking relationship is increasingly complicated. Bankers are under more and more ...

72% say inflation will affect their next pos purchase
January 11, 2023

What POS Customers Think About Inflation

And How to Reassure Them Will inflation impact the amount of new POS opportunities in the next 6 to 18 months? In short, yes. But with a little creativity you ca ...