Evolving buyer behaviours are changing the retail landscape quickly. Retailers seeking to keep pace with market changes are taking a unified approach to commerce technologies. Retailers are now moving away from servicing distinct sales channels to servicing customer "touchpoints," regardless of channel.
As brands seek to futureproof their business in today’s rapidly evolving retail environment, adopting a commerce operating system (COS) is crucial to achieving a unified commerce strategy. The shift to unified commerce requires retailers to rethink what and how technology is used to support their operations.
The optimal point of sale (POS) solution — a critical component of unified commerce — allows retailers to integrate and align retail systems across front- and back-end operations. The POS enables omnichannel operations, bolsters financial performance and supports data-driven insights to drive more strategic decisions and personalized customer experiences — all important aspects of unified commerce.
Shopify POS stands out as an example of a POS system that allows mid-market and enterprise retailers to realize benefits of a unified commerce strategy. Using multiple EY frameworks, we assessed multiple POS solutions in the market and gained a robust understanding of how Shopify specifically enables unified commerce and creates value while on average lowering TCO for mid-market and enterprise retailers. After analyzing Shopify against EY TCO attributes, we were able to validate that Shopify leads to cost efficiencies for both upfront and ongoing costs, and provides significant value benefits to retailers, including multiple revenue uplift enhancements, improved retail operations and mitigation of many costs normally associated with POS systems.