The development trend of integrated cash registers

Integrated cash registers are the current mainstream trend in the development of the service industry. It is expected that the integrated cash register market will reach more than 50 million units by 2023, accelerating the development momentum of this industry. This article provides a detailed analysis of the development prospects and trends of integrated cash registers.

One is the technological frontier. With the continuous development of smart technology, the field of integrated cash registers is also accelerating the integration of new technologies such as AI and big data to help update and upgrade cash register models. Whether it is payment, marketing, or member recycling, the most advanced technological means are used to greatly improve the consumer experience, thereby more effectively reducing corporate operating costs.

The second is social environmental impact. With the mandatory changes in the social reality environment and the upgrading of government policies on the control trend of the cash register industry, the functions of cash registers are becoming increasingly perfect in terms of business model changes, data optimization, security protection, settlement processes, etc., satisfying society's expectations for cash registers. meet the needs of computer applications and more effectively standardize service industry operations.

The third is changes in market demand. As people's desire to consume increases, the frequency of transactions at cash registers is also increasing. Physical stores pay more attention to customer experience and service quality, and the marketing function of cash registers is also more important. They need to create personalized marketing tools, attract fans, and use precise marketing methods. , is an important driving force for corporate cash register applications.

The fourth is the development trend of the service industry. In recent years, the development of the service industry has become the main driving force for economic growth. The service industry is in urgent need of creating efficient and accurate marketing tools. The popularization of big data, cloud application technology and the application of integrated cash registers have greatly improved consumers’ purchasing experience. It has greatly promoted the development of the service industry.

In summary, by 2023, the integrated cash register market will become increasingly widespread, and combined with the application of new technologies such as AI and big data, it will provide effective payment and marketing solutions for more service industries and promote the effectiveness of merchants. operations.

Hou Yi, CEO of Hema: “The competition faced by China’s retail industry today is completely different from other countries in the world.”

At the venue of the 2023 Hema New Retail Supply Conference, an "old man" who has attended the conference for many years said this. The New Retail Conference is Hema’s most important conference every year. Naturally, this is not the first time for many suppliers to participate in the conference this year, and they are very familiar with it. However, Observer.com found that many people were a little "stuck" by a change this year - the seat cards on the seats are no longer classified according to specific products, such as coffee, milk, baking, etc. - they Replaced with two categories: "finished product" and "fresh product". After many suppliers enter the venue, they will first mutter "Where should I sit?".

According to Observer.com’s previous understanding, based on “whether the physical form has changed”, Hema’s internal product procurement system has been re-divided into a finished product department and a fresh product department. Industrially produced commodities, such as food, 3R (ready-to-eat food), prepared dishes and non-food products, are classified into the finished product department; aquatic products, meat, poultry and eggs, frozen vegetables, fruits, flowers, rice and noodles, north and south dry goods, etc. are classified into the fresh product department department. Starting from the finished product department, Hema will promote the discount reform in a planned way - this is also the biggest adjustment since Hema was founded. According to Hema CEO Hou Yi, the competition China’s retail industry faces today is different from other countries in the world. Competition in China's retail industry is not competition between supermarkets, but all-round competition with new forces such as the Internet. China's traditional supermarket model is experiencing huge challenges, but if we start from the inherent problems of China's retail industry and solve issues such as price competitiveness, the biggest opportunities in the future will still be offline stores. At the 2023 Hema New Retail Conference, what opinions did people from all walks of life reveal? Observer.com conducted a simple review.

The challenges faced by traditional supermarkets and supermarkets are not unique to China. According to Zhang Yibo, managing director of BCG Boston Consulting Group:

1. China’s middle class is shrinking and becoming more rational. They want better products and lower prices. This is a key signal of "private brand drive" - in Europe, this signal appeared more than ten years ago - and for China, this is a very big opportunity. Discount stores serving the middle class are becoming a general trend.

2. China’s hypermarkets are facing very big challenges. But this is not a problem unique to China. Hypermarkets around the world are encountering challenges. Globally, with the improvement of economic levels, traditional stores have generally stopped or declined; but driven by private brands, there are differentiated products. Discount retailers are bucking the trend. For example, Costco (Costco, United States) and Mercadona (Mercadona, Spain).