What does point of sale mean?

Definitions for point of sale
point of sale

This dictionary definitions page includes all the possible meanings, example usage and translations of the word point of sale.


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Wiktionary

  1. point of salenoun

    In an establishment that sells goods or services, the location at which payment for goods is made.

Wikipedia

  1. Point of sale

    The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but can also be dispensed with or sent electronically.To calculate the amount owed by a customer, the merchant may use various devices such as weighing scales, barcode scanners, and cash registers (or the more advanced "POS cash registers", which are sometimes also called "POS systems"). To make a payment, payment terminals, touch screens, and other hardware and software options are available. The point of sale is often referred to as the point of service because it is not just a point of sale but also a point of return or customer order. POS terminal software may also include features for additional functionality, such as inventory management, CRM, financials, or warehousing. Businesses are increasingly adopting POS systems, and one of the most obvious and compelling reasons is that a POS system eliminates the need for price tags. Selling prices are linked to the product code of an item when adding stock, so the cashier merely scans this code to process a sale. If there is a price change, this can also be easily done through the inventory window. Other advantages include the ability to implement various types of discounts, a loyalty scheme for customers, and more efficient stock control. These features are typical of almost all modern ePOS systems.

Wikidata

  1. Point of sale

    Point of Sale is the place where a retail transaction is completed. It is the point at which a customer makes a payment to a merchant in exchange for goods or services. At the point of sale the retailer would calculate the amount owed by the customer and provide options for the customer to make payment. The merchant will also normally issue a receipt for the transaction. The POS in various retail industries uses customized hardware and software as per their requirements. Retailers may utilize weighing scales, scanners, electronic and manual cash registers, EFTPOS terminals, touch screens and any other wide variety of hardware and software available for use with POS. For example, a grocery or candy store uses a scale at the point of sale, while bars and restaurants use software to customize the item or service sold when a customer has a special meal or drink request. The modern point of sale is many times called as the Point of Service because it is not just a point of sale but also a point of return or customer order. Additionally it includes advanced features to cater to different functionality, such as inventory management, CRM, financials, warehousing, etc., all built into the POS software. Prior to the modern POS, all of these functions were done independently and required the manual re-keying of information, which can lead to entry errors.

Editors Contribution

  1. point of sale

    A type of technology created and designed in various colors, materials, mechanisms, shapes, sizes and styles for the sale of commodities, goods or products.

    Supermarkets, shops and wholesalers have a point of sale system


    Submitted by MaryC on July 14, 2020  

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Numerology

  1. Chaldean Numerology

    The numerical value of point of sale in Chaldean Numerology is: 7

  2. Pythagorean Numerology

    The numerical value of point of sale in Pythagorean Numerology is: 6

Examples of point of sale in a Sentence

  1. Raymond Foster:

    Every phone has an Electronic Serial Number – from that you can trace back to the manufacturer and the retail point of sale, even for a ‘burner’.

  2. Gurdeep Singh:

    It gives us a great lever in terms of our proposition differentiation at the point of sale ... which will help us accelerate our acquisition journey of good quality, sticky customers.

  3. Manuel Caldeira:

    They took food, they broke the display windows, they stole scales and point of sale terminals, we weren't here (when it happened), we got here and found all of this destroyed.

  4. Finance Minister Michael Noonan:

    It's common practice seemingly, particularly in the city of London, that finance houses like Goldman Sachs feel that their reputation is enhanced for other work if they're the advisers to sovereign governments for key pieces of work, an IPO for AIB, if we're selling 25 percent of it, would be one of the biggest IPOs ever in the London stock market. So obviously there'd be great attention paid to who the advisers are. There's no commitment at the point of sale that Goldman Sachs would get any additional work.

  5. Jardayna Werlin:

    Plastic bags as a free thing at point-of-sale are not really free, they get wrapped into the cost to the consumer anyway. [...] Having that fee in place is crucial and allows the business owners to recoup if they do have increased costs for having to provide paper bags.


Translations for point of sale

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"point of sale." Definitions.net. STANDS4 LLC, 2024. Web. 29 Mar. 2024. <https://www.definitions.net/definition/point+of+sale>.

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