Mall Owners Look for Sales Data Capture at POS to Bridge Rental Loss

Chennai, India, 2017-Feb-16 — /EPR Retail News/ —  As commercial real estate growth remains sober in cities across India leading to high vacancy levels in Malls, space owners these days adopt new strategy to bring tenants to cover rental revenue loss.

Bhaskar Venkatraman, Founder and Director of JusTransact.com

As per the new trend, retailers agree to pay less monthly rental but part a percentage of their monthly sales revenue to shop owners. However, in the absence of a reliable real time sales data capture system, retailers show tweaked sales data to pay low rent to owners causing huge loss to the later.

But with the availability of new POS software to capture real time sales data from shops, mall owners sitting at remote place can relax. Not only this! They can use these data to find seasonal footfalls, popular stores, popular merchandise,  peak time sales, customers’ shopping pattern and behaviour, and host of other vital business information.

As the concept is new and picking up in India, several POS software vendors offer reliable, transparent and sustainable Concessionaire Sales Data Capture solution to Indian retail sector. POS vendors also offer such services in international and domestic airports and shopping centres across India which can give real time sales to owners and cut revenue loss due to suppression of real sales data.

Airports and shopping malls require innovative technology to track sales from commercial tenants in real time and POS software such as Pathfinder’s POS PATROL offers exactly the same with additional benefits to both retailers and space owners in terms providing visibility of real time retail operations, customers’ preferences and analytical data on various parameters which can be used to improve sales.

The commercial structures are empowered to automate data capture processes through consistent and dependable system and the requisite data can be accessed online and interpreted for future usages. Sales Data Capture solution has revolutionized airports and shopping centres by offering Retail Intelligence services which has helped brands and space owners alike to improve operational efficiency, reduce cycle time, fast realization of revenue, high cash flow and improved non-aviation revenues.

POS Patrol, for example, has so far wired over 9500 retail outlets spread across 60 shopping centres and four international airports where every sale is accounted for consistent data flow and auditing.

Commenting on the trend, Bhaskar Venkatraman, Founder and CEO of JusTransact.com, a leading e-commerce portal dealing with Point of Sale technology products and solution in India, said: “Capturing real time sales data at Point Of Sales (POS) counters is the best possible way to track sales and avoid tenant-owner conflicts over rental issue. The sales data capture offers Retail Intelligence Services which is beneficial for both retailers and space owners.”

Benefits for retailers

Sales data captured can help airports and shopping malls to develop a good tenant mix, which brings more footfalls and revenue.

The sales and other information can be used to understand the Retail Dynamics of array of stores spread across vast area in just one stroke, which otherwise will be time consuming, difficult to manage, involves huge man power, and also error-prone in collecting sales data.

The data on retail operations can be utilized by stores to improve insights on sales revenues and performance.

How it works

Take for example a shopping mall having more than 100 retail outlets. All these shops are provided with POS solution for billing, staff and inventory management tool. At the same time, a software tool is embedded with each POS system which sends every sales detail to the server of the mall owners. As these days, rents are paid on the basis of revenues generated per month, sales data capture software restrains retailers from concealing the actual sales figures to pay low rent to shop owners.

The same system also works for airports where Concessionaire Sales Data Capture system is used to wire all the retailers inside the airport premises to capture real-time sales data.

 

Media Contact:

K Ramanaathan

ram@justransact.com

+91 9384612789

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Goods and Service Tax (GST) can Alter Economic Prospects of India: Industry Experts

Chennai, India, 2016-Aug-12 — /EPR Retail News/ —  The long awaited Goods and Service TaGST1x (GST) has passed the last mile hurdle with country’s upper house of Parliament clearing the Bill on Wednesday, after much deliberations and amendments to appease the strong opposition. How does this tax reform going to benefit the retail sector which has been making a strident growth and become one of the fastest growing sectors? JusTransact.com asked a few industry veterans about the pros and cons of GST implementation. Excerpts…

Baskaramoorthy.jpgBaskaramoorthy, VP Sales, Posiflex India: “End users might end up paying additional taxes if percentage of taxes under GST regime is increased from the current VAT level. However, it will help traders and manufacturers to leverage business across India with effective supply chain and distribution of products.  The biggest relief is that GST will do away with the current C-form and interstate forms which are presently collected at the end of each year.”

BhaskarBhaskar Venkatraman, Director, Millennium India, a veteran in Point of Sale technology in India: “GST in the present format is going to benefit the economy, businesses and consumers alike. As it is going to replace 17 indirect taxes, tax procedures will be more simple and transparent. Apart from pushing up tax revenues, the corruption at check posts and slow-movement of trucks will become the things of the past. Since calculation of tax is going to be uniform across all states, finance people will heave a sigh of relief as they no longer muddle with complex forms while dealing with inter-state goods movements.”

AntonC Anton Jabadurai, Country Head, Bixolon India: “GST will facilitate the possibility of automation in tax calculation and goods processing, which will increase the requirement of POS hardware across India. Apart from smoothening the supply chain management, GST implementation will create a transparent tax regime across all states which will benefit both traders and end-customers. In the long run, the frequent price rise due to high transportation and warehousing cost will come down drastically.”

Anuj PuriAnuj Puri – Chairman & Country Head, JLL India: “The Goods and Services Tax (GST) is the most essential taxation reform which is going to alter India’s economic prospects. Single taxation, covering all goods and services, is a welcome change. GST will eliminate cascading effect of taxes, and will boost tax collection while reducing overall taxation levels. However, post GST, the results will be evident only after two-three years from now.”

Slated to increase the country’s GDP by one point, the GST era, which is going to unfurl from April 2017, will surely be the new chapter in India’s tax history post Independence. How far it will benefit the country and common man, one has to wait and see.

Media Contact:

K Ramanathan,

India

+91 09384612789

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Now invisible barcodes to dodge counterfeits at Point of Sale

Chennai, India, 2016-01-13 — /EPR Retail News/ — Barcodes came into existence half a century ago to speed up the check out process at retail outlets, enhance customer experience and promote businesses. But the booming retail sector, ever increasing demand for faster check-out alternatives and increasing incidents of counterfeit items despite barcoding them, have forced technologists to strive for a fool-proof, reliable and still faster mode of dispatching goods at Point of Sale (POS) counters.

If the new technology unveiled recently by Beaverton-based Digimarc Corp goes viral, the black and white stripes will become extinct in another few years, to be replaced by a new concept called “invisible barcodes”, which are not only reliable and reduce the chances of malpractices, but also help faster checkouts.

The new technology will avoid POS counter staff to look for barcodes printed on items which consumes a second or two to locate the barcodes before running them across the scanner.

The Digimarc barcodes, not visible to human eyes, can be embedded with details of retail items and can be scanned by special barcode scanners.

To try this new path-breaking technology, grocery chain New Seasons in upscale Portland has signed up with Digimarc to use their technology at their retail outlets.  Accordingly, all the packed items on shelves were printed with barcodes that were invisible to human eyes. But, scanners equipped with new technology were able to scan them right away.

Digimarc has been working on digital watermarking for close to two decades with less success. “We have been slow but persistent,” says chief executive Bruce Davis.

In addition to easy checkouts, Digimarc feels that the new technology will help prevent frauds by stopping retailers from pasting one barcode over another and enable more attractive packaging.

Retailers are steadily upgrading their barcode scanners at check-outs from laser-based to optical imaging technology that works like a digital camera, and also compatible to Digimarc’s new technology.

If the visible barcodes got replaced in another few years, New Seasons, a relatively small grocery chain, will make history for being the first to adopt the invisible barcode technology in the world.

So, are we going to witness a slow and steady extinct of barcodes which can be seen on everything from soap packs to water bottles?

Not for a decade or more, feels Bhaskar Venkatraman, founder and director of JusTransact.com, an e-commerce marketplace selling exclusive POS products like barcode scanners, printers and POS peripherals.

Bhaskar Venkatraman, founder and director of JusTransct.com

Bhaskar Venkatraman, founder and director of JusTransact.com

 

“But, over a period of time, the barcode may become obsolete. As far as India is concerned, if the technology succeeds, we can expect the change in another ten years. Till then, 1D/2D barcodes will rule the retail points of sale,” he further added.

Media contacts

K Ramanathan,

JusTransact.com
G-19,2nd Floor, Block-16, 2nd Main Road
Ambattur Industrial Estate,Chennai-600 058
t : 91-44-43551366 | e : ram@justransact.com
m: 91-9384612789 | w: www.justransact.com

mPOS Set to Revolutionize Indian Retail Sector

Chennai, India, January 13, 2016 — /EPR Retail News/ — Indian retail market is evolving at a rapid pace riding on technology innovations and customers’ changing preferences for superior shopping experience.

A lot of changes had happened during the last decade at Point of Sale (POS) counters as customers increasingly prefer cash-less transactions, and businesses have readily adopted right payment system for faster check-outs and better payment management.

One of the best ways the brick-and-mortar retailers can handle faster check-outs at their stores is via mobile-POS devices. These devices are like hand-held smart phones that are capable of accepting payments through cards, providing instant receipts and storing data for managing inventory, sales and other back-end business functions.

India, with close to 500 million credit/debit card holders and 700 million smart phone users, set to trigger cash-less transactions through mobile POS devices and online transactions, say analysts.

As per an estimate by the country’s leading banker Reserve Bank of India (RBI), India needs another 20 million M-POS devices in five years from the current 1.2 million sets to provide alternative retail delivery channels to both urban and rural populace across the country.

Predicting that M-POS will be a game changer for Indian payment market in 2020, Bhaskar Venkatraman, founder-director of JusTransact.com, India’s first e-commerce marketplace exclusively for Point Of Sale (POS) technology and solutions, says: “There are two reasons which can trigger the growth of M-POS in India – mobile devices becoming ubiquitous across the country with widespread internet penetration and customers craving for enhanced shopping experience with fast, convenient and cash-less transactions.  M-POS then becomes the natural choice to bridge the gap and promote card-based commerce for retailers. Also, fast evolving technology has changed the use cases of M-POS devices. Along with M-POS, we also expect more demand for Tablet POS and Cloud POS devices as the present generation retailers are more inclined to use latest technology to offer sophisticated shopping experience to buyers.”

Apart from the convenience in transactions and high customer experience, retail businesses choose mPOS devices to close the deal the moment customers make a decision on products without giving them time to change their mind when they proceed towards the checkouts, says Nimish Chandra, who manages a retail showroom selling electronic home appliances in Bangalore.

Despite the anticipated surge of these ‘anywhere commerce devices,’ Bhaskar doesn’t expect that mPOS will replace the traditional POS terminals in the near future.

“I think, to begin with, there will be a very little displacement due to mPOS in emerging markets like India where traditional POS systems are still ruling the roost. However, in the SMB environments, tablets will offer an attractive to traditional POS and mPOS. The displacement will be minimal at least for the next five years,” Bhaskar, who is also a domain expert in POS technology, feels.

He predicts that India will emerge as a leader in mPOS users in the Asia-Pacific region by 2019 as there has been a huge dependency on cash-on-delivery for e-commerce transactions which will open the gates for millions of mPOS deployments across the country.

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Media contacts

K Ramanathan,

JusTransact.com
G-19,2nd Floor, Block-16, 2nd Main Road
Ambattur Industrial Estate,Chennai-600 058
t : 91-44-43551366 | e : ram@justransact.com
m: 91-9384612789 | w: www.justransact.com

India: POS to Scale up Retail Sector Growth in 2016

Chennai, India, 2015-12-31 — /EPR Retail News/ — The fast evolving consumer preferences associated with advancement in technology has made the Indian retail sector one of the most vibrant among the Asian peers with the market indicators forecasting the sector to cross US $ 1 trillion by 2020 from the present $600 billion riding on 13 per cent Compound Annual Growth Rate (CAGR).

While government policies and macro economic conditions act as catalysts, technology plays a pivotal role in revamping the sector towards fast-track development. Thanks to advancement in Point of Sales (POS) technology, sales counters across India are witnessing complete makeover with traditional retail giving way to organized business environment clocking exponential growth. Automating operations by brick-and-mortar businesses with cashless transactions for enhanced customer experience is gaining ground across Indian cities.

Point of Sale hardware products such as barcode scanners, thermal receipt printers, electronic cash registers, barcode printers, Touch POS monitors, mobile/tablet POS and Cloud POS are in great demand with manufacturers expecting good sales in 2016 due to improved market conditions, feel experts.

Bhaskar Venkatraman, Founder and Director of JusTransact.com, an e-commerce portal offering POS technology products to retail and non-retail businesses in India, says: “Indian retail sector has finally taken wings riding on POS technology to make new strides in the coming years. POS is one of the major growth ingredients for retail sector. With government opening up FDI in retail sector and Goods and Service Tax (GST) Bill becoming a reality in 2016, the POS market is expected to witness unprecedented growth by 2020 clocking two million POS installations from the current one million mark.”

However, on global perspective as per a 2014 estimate, of the 250 billion cashless transactions, India accounts for only 0.2 per cent through 1.2 million POS installations. With Reserve Bank of India (RBI) relaxing rules to allow cash withdrawals through POS machines across India, the demand for POS machines are going to go up further in the coming year, opines Bhaskar.

According to RBI Deputy Governor R Gandhi, “If India needs to reach the average levels of BRIC nations, we need to have another 20 million POS terminals from the present 1.2 million machines connecting rural and urban areas. With India having more than one billion mobile connections, the retail payments in the next five years would be increasingly driven through mobile payments, the top RBI official lamented.

Recently, several state governments including Rajasthan, Andhra Pradesh, Orissa and Madhya Pradesh have started introducing POS machines at their fair price shops to reduce pilferage of food items meant for public distribution. These hand-held POS devices with biometric fingerprint scanner will soon find place in thousands of ration shops across the country.

Expressing optimistic about POS market in India, D Bhaskaramoorthy, Vice-President – Sales, Posiflex Technology (India) Pvt. Ltd, one of the leading POS hardware brands in India, says, “With FDI opening up for Retail sector and GST implementation looking brighter in 2016, we can foresee a potential growth for retail segment vis-à-vis POS and peripherals in India as more and more stores are expected to automate their business to enhance sales and back-end operations.”

Implementation of GST will enable easier movement of goods across the nation, thereby benefiting retail operations pan-India, he says.

Media contacts

K Ramanathan,

JusTransact.com
G-19,2nd Floor, Block-16, 2nd Main Road
Ambattur Industrial Estate,Chennai-600 058
t : 91-44-43551366 | e : ram@justransact.com
m: 91-9384612789 | w: www.justransact.com

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Bhaskar Venkatraman, Founder and Director of JusTransact.com

Bhaskar Venkatraman, Founder and Director of JusTransact.com

Indian POS

Indian POS