Definition of point of sale

Point of sale (POS) refers to the physical or digital location where a transaction is completed, typically involving the exchange of goods or services for payment.

Explanation of point of sale

In a retail setting, a POS system may include hardware and software to process transactions, manage inventory, and generate receipts.

Example of point of sale

A cashier scanning items and processing payments at a grocery store checkout counter represents a traditional point of sale.

Strategies of point of sale

Optimize POS systems for efficiency, integrate with inventory management, and consider customer experience in the checkout process.

Related terms

• Checkout counter
• Retail management
• EPOS (Electronic Point of Sale)