Epson recently hosted its annual ISV conference, attracting more than 70 software developer partners to the Chase Field stadium in Phoenix, home of the Arizona Diamondbacks.
The company shared key updates on its product roadmaps, strategies for entering new markets, and where it sees the biggest opportunities for its partners. Here are a few highlights from the event:
Only enter a new market if you can be #1 (or #2)
Seiko Epson’s global revenue FY2018 is projected to be $10.3 billion, including $589 million in profit. Since its inception in 1942, the company has expanded into 13 major business units and has the top share in six of those categories: photo scanners, point of sale printers, SCARA (Selective Compliance Assembly Robot Arm) robots, projectors, photo printers, and supertank printers. One of its prime business philosophies is, “Only enter a new market if you can be the number 1 or 2 company in that market.”
Mobile POS is where the biggest opportunities are for ISVs
According to the IHL Mobile POS Study 2018 and IHL Enterprise POS Study 2018, the total POS systems market is projected to grow 4% between 2017 and 2022. During that same period, however, the mobile POS market is expected to grow 8%, which represents 19% CAGR (compound annual growth rate) between 2016 and 2023.
During a panel discussion, a few Epson ISV partners shared additional stats regarding the mobile POS trend.
“The self-service trend is fueling growth in mobile POS,” said Ryan Lagace, VP at Zivelo. “It’s a largely untapped opportunity.”
“Studies show that orders placed via mobile devices are 50% higher than non-mobile orders,” said Charlie Jeffers, CEO, Takeout Technologies. “Seventy percent of all orders are going through mobile today.”
Andrew Lambert, VP at FORENOW added, “We’re seeing the biggest growth opportunities with grocery stores. They’re looking for innovative ways to get customers to buy more from their store rather than buying a few things at their store, a few things from their competitors.”
Adjacent markets are seeing even higher growth in mobile computing with warehouse mobility spending expected to grow 11% next year (source: VDC stats from 2018 ScanSource conference) and mobility spending in the Cannabis industry is projected to experience a 26% CAGR between 2018 and 2022 (source: IBISWorld, October 2017).
The Mobile printer is no longer just a printer
Epson’s OmniLink Merchant Services (OMS) will play a key role in the company’s — and its ISV and channel partners’ — ability to capitalize on the burgeoning mobile market. Powered by hand-selected Epson ISV partners, OMS provides hospitality and retail VARs with a global network of cloud and mobile-based tools, best practices, business data, and expertise.
Merchants have three options for cloud-enabling their printers:
- Purchase an Epson cloud-enabled OmniLink TM-T88V-I POS printer.
- Purchase an OmniLink cloud card (via an authorized Epson VAR) and install the card on an OmniLink TM-T88V or TM-T88V-I printer.
- Purchase the OmniLink printer driver to update their current POS system, so that with each printed receipt transaction data can be simultaneously transmitted to the Epson cloud.
ISVs are the ones that make OmniLink particularly valuable because it’s the software that enables business activities such as analytics, inventory management, employee & customer engagement, labor management, one-to-one marketing and POS transaction data initiatives.
To learn more about Epson OmniLink POS solutions and OMS, click here.