It would be hard to underscore the critical role that technology plays. It does not matter which industry or sector we are talking about. Tech innovations have helped achieve efficiency in organizational processes.
And, the sports industry has been a major beneficiary. Industry reports project that the sports technology market could reach $43.6 billion by 2027. There are tons of opportunities with innovations like automation, artificial intelligence, wearables, and big data.
Take the example of enhancing fan experiences with virtual or augmented reality. How about the use of AI to personalize player and fan experiences. And, such tools help with data-based analytics for better decision making.
But, that’s not all. The adoption of time-tested technologies like point of sale (POS) systems is on the rise. What you get are tools that take care of both front and back-end operations. They help with tasks like sales tallying, reporting, inventory management, and so much more.
Our article explores the impact of these innovations on the sporting industry.
1. Better Operational Support with a POS System
You walk into a store and pick your items. The next step is to head to the counter to pay, using cash, credit cards, or debit cards. That counter interaction is, in its simplest element, a POS.
However, POS systems are now more than just stand-alone solutions for inventory and payment purposes. The innovations made to POS systems allowed enterprises to integrate more features such as mobile compatibility.
Patrons can now place orders and settle payments through POS systems on their own mobile devices. Through the same tool, event organizers can take care of ticketing and processing orders. Then delivery teams will bring them right to your seat. No more queuing to get such services.
The convenience means you don’t miss a minute of your favorite game, once you enter the stadium. Event organizers can now achieve higher efficiency when serving patrons.
The upgraded POS systems make the handling of sports logistics so much easier. It will enhance efficiency in processes like production, inventory management, and delivery.
Further, most POS software today is hosted on cloud-based servers that offer enhanced security. Teams enjoy the convenience of reporting platforms and multiple fulfillment options.
2. Sports Merchandise Management with POS Solutions
The global sports apparel market is on an upward trajectory. In 2019, the sector generated revenue in excess of $181 billion. By 2025, industry experts project the figures could reach $208 billion. Industry leaders like Nike and Adidas are gearing up for a big fight to remain in the top position.
Having the right merchandising systems is critical. Such comprises inventory and product management covering stores and warehouses. Obsolete or legacy systems cannot keep up with the demand. Using such can have a significant impact on the company’s ability to grow.
POS systems can take care of tasks like:-
- Ensuring adequate stock levels at all times. Barcode systems, for instance, track inventory and provide accurate counts. The teams will know when to restock or what is not moving. In the latter case, they can step up marketing for such items. The alternative is to use such stock for promotions.
- Better tracking of sales channels with real-time reports
- Demand forecasting through emerging patterns and trends. One of the notable features is the reporting platform. The sales team uploads relevant activity reports on a daily, weekly, or monthly basis.
- Reviewing and analyzing such information helps with data-driven decisions, thus better results.
3. POS Systems Can Enhance the On-Ground Fan Experience
Enhancing fan experiences is a top priority for sports organizers. But if you have ever attended an event at a stadium, you know how it can be. Long queues are common, as people wait to enter.
The same happens at the food and beverage points. The inconveniences can be frustrating for everyone. And, let’s not forget the service providers. The pressure and high-intensity work conditions can break anyone.
Finding ways to manage such scenarios is critical. And, POS systems can provide a wonderful, cost-effective solution.
Event organizers can:-
- Offer multiple avenues for ordering services. One of the most convenient is the mobile ordering and in-seat deliveries
- Better accuracy and faster expediting of services. Take the example of a customer ordering food at the counter. The POS integration with the kitchen means the team gets the order directly. It removes the need for the cashier to act as a middleman.
- Accept various payment options, thus removing any limitations. It is a fantastic way to get the lines moving if the fans are buying tickets at the gate
- Enhanced security for fans and organizers by offering cashless transactions. In this Covid era, it is also a great relief for both parties. The virus can spread through the coins or notes.
- Include incentive and loyalty programs for fans. Successful implementation of such will keep the audiences coming back.
- Collect fan data or feedback, thus ensuring audiences get what they want.
The best POS system will provide convenience to both the fans and the management team.
4. Better Targeting With POS Systems
It is now pretty clear that POS systems offer so much more than accepting payments. Let’s expound on one important point a little more. And, that is around the use of POS-generated data.
We will go back to the stadium experience, as an example. Think about the number of times a customer uses a POS. It starts from paying for parking, entering the stadium, and ordering refreshments. They may also purchase merchandise while on-ground.
Every interaction with the POS system provides an opportunity to collect valuable insights on fan behavior. The marketing teams can then use the information for targeted campaigns.
A fan who buys merchandise would be on the lookout for new releases. They make ideal candidates for exclusive offers. Specific brands can personalize communication or promotions to those who bought their items.
Final Thoughts
POS systems are introducing higher efficiency and streamlining of processes in the sporting industry. Managing and tracking inventory is easy with the right POS. The systems enhance fan experiences in the stadium.
The marketing teams can also enjoy better targeting, due to data-driven insights. Those in the sporting industry cannot afford to operate on legacy tools.
Adopting technologies like modern POS systems can be a significant game-changer.
