Market Trends of Italy POS Terminals Industry
This section covers the major market trends shaping the Italy POS Terminals Market according to our research experts:
mPOS is Booming the POS Terminals Market in Italy
- Mobile point-of-sale (mPOS) is a portable payment system deployed on smartphones and tablets. Because merchants need to install mobile POS software on their portable devices such as tablets or smartphones, mobile POS systems allow them to service their customers anytime and anywhere.
- The growing need for mobile POS terminals with convenience features like invoice management, inventory management, and image scanners across industry verticals, including retail, tourism, and e-commerce, will push the POS terminal market forward. Furthermore, as debit and credit card technology evolved, contactless payments became popular for completing a rapid transaction without inputting a PIN, driving up demand for the POS terminal market in Itlay.
- The payments landscape in Italy is undergoing a revolution as advances in technology and innovation continue to drive payment digitization. For instance, According to Politecnico Milano and Osservatori.net, the rate of product e-commerce was 8%, with total revenue of EUR 234 billion. With 31%, Italy has the second highest rate of internet sales growth in Europe.
- The growing requirement for various mPOS systems with a robust and centralized system among large retailers, supermarkets, and department stores has fueled the retail sector's consistent rise in the POS terminal industry. Because of its consumer mapping application, the growing emphasis on consumer behavior has led to increased POS implementation.
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Retail Segment is Expected to Grow Significantly
- The retail industry is one of the significant users of POS terminals. The segment is expected to hold a substantial share in Italy. The retail segment is slowly picking up with the reopening of brick-and-mortar stores in different parts of the country.
- The sales reporting, inventory and financial management, and customer analytics features provided by POS terminals assist retailers in addressing client retention challenges. As a result, the demand for client retention and increased rivalry in the business drives the development of POS terminals.
- Retailers in Italy are increasing their spaces, which pushes the POS terminals market. For instance, in May 2022, SPAR projected a 2.2% growth in revenue to EUR 4 billion in its fiscal year 2021, owing to retail network expansion and increasing private-label sales. The corporation also attributed its success to shop renovations and supply chain management investments. During this time, it opened more than 90 additional stores, and private brands accounted for 20.6% of its food sales. SPAR Italy also constructed an 18,000-square-meter logistic facility near Bologna in Castel San Pietro, with Aspiag Service investing EUR 33 million.
- The government initiatives in Italy encourage contactless payment, which promotes the demand for POS terminals. For instance, the Italian government started in December 2020 that consumers in Italy will receive a 10% rebate in their bank account for making cashless in-store payments with a credit, debit, or prepaid card or payment app. This Italia Cashless effort will be continuing in 2021 as well. In addition, consumers and merchants who make the most cashless in-store purchases in six months, a week, a month, or a year will be eligible for a Super Cashback competition.
- The index value representing online retail sales in Italy grew between April 2021 and April 2022. As is common in the retail industry, the 12-month peak came over the winter holiday season. The internet retail sales index increased to roughly 382 points in December 2021.
