13. July 2022 | Interview, Leading Voices, Retail Technology, Shopping Today

EuroCIS exhibitor iMin Technology Pte Ltd from Singapore on the latest retail trends

By Katja Laska (exclusively for EuroCIS.mag)

“Intelligence for Business” – that’s the slogan the Singapore-based company iMin Technology Pte Ltd used to showcase its products at the EuroCIS. The solution provider aims to help small and medium-sized businesses speed up their digital transformation, achieve cost-efficiency, and gain a competitive position.

The tools in their arsenal: intelligent commercial IoT solutions, including Smart Point of Sale (POS) systems, and Human Capital Management (HCM) systems. Xibang Lin is the company’s Marketing Director. He told us about the emerging developments he sees in the market and explains why they could be important.

Sitzender Mann mit kurzer Hose, schwarzem T-Shirt und Brille - Xibang Lin; Copyright: iMin Technology

Xibang Lin // © iMin Technology

Mr. Lin, what are trends you see happening in the industry?

Xibang Lin: There are a lot of developments at the moment. I believe that Android POS systems and the respective applications – meaning software – will gain importance in the near future. This will open new opportunities, especially for small companies and retailers who plan to digitize their business processes.

But that’s not all: bring-your-own device (BYOT) technologies and specialized commercial grade electronic cash registers (ECRs) and mobile POS solutions will also be great resources for smaller businesses.

I am confident that the integration of various SaaS platforms will prevail on the market in the long run. These solutions offer great support and assist workload management for small and medium-sized enterprises, particularly as it pertains to process management and business process optimization.

These progressive changes also reflect developments in society and changing consumer expectations. Please describe modern customer behavior in three words.

For me, modern customers exhibit three characteristics:

  1. Intrigued
  2. Instant and focused on instant gratification – meaning the desire to experience fulfillment of services and availability of products without delay or deferment
  3. Independent
iMin Desktop POS with man in the background; Copyright: iMin Technology

© iMin Technology

iMin Mobile POS; Copyright: iMin Technology

© iMin Technology

You are the experts when it comes to POS, hardware, and cash registers. Do you still see room for improvement?

We take the customer’s rather than the service provider’s perspective, which means we notice that the current checkout experience is in dire need of improvement. This does not refer to technology improvements. It’s more about “making technology fade into the background” and making customers forget it’s there. When you combine different solutions to provide an immersive experience – one that is seamless, cross-channel, simple, and fast – he or she will be happy and ideally return to your store.

A look into the future: How will we be shopping in 15 years?

I’m optimistic when it comes to retail innovations since the sector is still on the upswing. I believe it ultimately all comes down to an immersive experience, plain and simple. With the help of technology, it delivers seamless and unique customer entertainment that makes it easy to incorporate brand presentations and experiences.

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