The History of Point of Sale (POS)

POS history

The History of Point of Sale (POS)

LOOKING BACK ON 200 YEARS OF RETAIL POS SYSTEMS

What is a POS system?

At its most basic level, a POS system functions as a cash register that lets retailers ring up sales and keep a record of those transactions in their stores. But thanks to advancements in technology, POS systems can now extend beyond the point of sale. These days, many POS solutions serve as retail management systems that handle everything from sales and inventory, to customer management and ecommerce.

The POS market is huge. According to Transparency Market Research, when it comes to revenue, the global point of sale industry stood at US$36.86 billion in 2013, with the retail sector accounting for 34% of the market. Moreover, the POS industry is projected to have an 11.6% compound annual growth rate for the 2014-2020 period.

Moustache milk and cookies

DEANNA YANG, Chief Cookie Officer, Moustache.

“Long gone are the days when I had to rely on old cash registers that are so hard to use! Since everything is online, it’s so helpful being able to see our statistics from anywhere in the world. Where ever I may be, I can always see which cookies are selling the best or which milkshakes are the least popular.”