What can you do with a mobile POS? Learn how small businesses in Kenya can utilize BizKit Mobile POS Systems to drive growth.
Kenya has witnessed a rapid transformation in its business landscape in recent years, with small businesses playing a leading role. Part of this transformation can be credited to innovations and technological adoption among Kenyans.
Kenya has stood out at the forefront of mobile broadband connectivity, mobile financial services, and a robust ICT infrastructure in Africa and the world with 66.1. Million mobile and 17.86 million internet users.
This increased tech adoption and digitized population (digital economy) is expected to contribute about 9.24% to the nation’s GDP by 2025. The major sectors driving this continued growth include the E-commerce industry and digitized small businesses. And among the technology and innovations empowering these small businesses is the adoption of Mobile POS systems.
Mobile POS Systems Use in Kenya
Mobile point-of-sale systems (or simply Mobile POS systems) have gained popularity across various industries. They provide a flexible and convenient solution for businesses to accept payments, manage inventory, and enhance customer experience.
Unlike traditional POS systems, which are typically tethered to a fixed checkout counter, mobile POS systems are mobile apps used on mobile devices. This way, businesses use them for sales and transactions wherever their customers are – shop floor, pop-up market, or outdoors.
In Kenya, where most transactions are still cash-based, the integration of Mobile POS technology has helped revolutionize small businesses. This has resulted in the growth of the Mobile POS payment market, with forecasts of increased use. The market in Kenya is projected to grow by 17.87% (2024-2028), resulting in a market volume of US$10.54bn in 2028.
While larger industries like e-commerce are leading adopters of mobile POS systems, small businesses (and medium enterprises) are just realizing its benefits. Kiosks, restaurants, market vendors, butcheries, and other small businesses can benefit from mobile POS systems’ flexibility, convenience and ease of use.
Several factors are driving the growth of the mobile POS payment market, such as:
- Increasing penetration of smartphones and tablets
- Shift towards contactless payments
- The increasing demand for convenient and secure payment options
- The growing adoption of cloud-based technology, enabling businesses to manage transactions and data more efficiently
- Integrating mobile POS systems with other business functions, such as inventory management and customer relationship management
- The rising popularity of e-commerce and online shopping
How Small Businesses Can Use Mobile POS Solutions to Drive Growth
In this dynamic environment, embracing innovative solutions like mobile POS systems is no longer a luxury but a necessity for survival and growth. There is a growing demand for mobile POS systems among small and medium-sized businesses.
Equally matching the demand is the rise of mobile POS systems evolving into complete retail management systems. An example is the BizKit POS system, a small business and retail management system reshaping traditional business operations and consumer experience.
Here’s how businesses can use these POS systems to drive their growth:
1. Enhanced Payment Flexibility
Mobile POS systems enable small businesses to accept various forms of payment, including credit and debit cards, mobile money, and digital wallets. This increased payment flexibility caters to a broader customer base and reduces reliance on cash transactions, enhancing financial security.
2. Improved Efficiency and Accuracy to Streamline Transactions
Automation of transactions through Mobile POS systems minimizes the chances of human error in billing and inventory management. Whether you’re managing a retail store, kiosk, bitchery, food truck, or pop-up market stall, a Mobile POS system ensures that sales can be conducted easily, quickly, and precisely. Small businesses can streamline their operations, reduce manual paperwork, and dedicate more time to core business activities.
3. Real-time Inventory Management
Mobile POS systems often come equipped with inventory tracking features, allowing businesses to monitor stock levels in real-time. As transactions are completed, the system automatically updates the inventory database, ensuring you’re always aware of your stock status. This helps in two key things:
- Stock management: preventing stockouts, optimizing ordering processes, and ultimately reducing costs
- Stocks and transaction Reconciliation: after sales, the business must reconcile stock and transaction. A retail management software like BizKitPOS will give you an easy way to reconcile your sales against stock to mitigate the associated revenue losses.
4. Customer Relationship Management (CRM) and Analytics
Mobile POS systems include CRM functionalities, enabling small businesses to gather customer data and preferences. This makes a mobile POS a data powerhouse that captures transaction data and inventory details but also customer information. This information can be leveraged to create personalized marketing strategies, loyalty programs, and improve overall customer satisfaction for improved competitive advantage.
5. Accessibility and Portability
The mobile nature of these systems allows businesses to accept payments from any location, whether it be a physical store, pop-up market, or even door-to-door services. This portability expands the reach of small businesses beyond the constraints of a traditional brick-and-mortar setting.
6. Sales Analytics
As mentioned, Mobile POS systems are data powerhouses that capture transaction data, customer information, and inventory details businesses can use to generate insightful reports. These reports offer a deep understanding of your business performance, sales trends, and customer preferences. Use this information to make informed decisions that help you optimize your product offerings, pricing strategies, and marketing efforts.
Partner With BizKit Mobile POS System for your Retail Management
While the adoption of Mobile POS systems offers numerous benefits, small businesses may face challenges during implementation. Common concerns include initial setup costs, staff training, and reliable internet connection.
However, these challenges can be addressed through careful planning, budgeting, and partnering with reputable Mobile POS service providers with robust support and training programs.
BitKit POS is your go-to mobile POS system with retail management capabilities to support your payments and retail management needs. Try BizKit here.