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FRANKLIN, Tenn. - Point-of-sale (POS) technology shipments jumped by 8 percent in 2003 and are poised for double-digit growth moving forward, reports a new research study conducted by IHL Consulting Group.
Category killers and supercenters -- especially Home Depot and Wal-Mart -- were the primary drivers of growth in 2003, when these outlets increased their POS purchases by 18 percent.
"We expect to see substantial growth of about 15 percent in 2004, followed by another 12 percent increases in POS sales for 2005," said Greg Buzek, president of IHL Consulting Group, an analyst firm and consultancy that serves retailers and retail technology vendors. "Every segment of the retail industry will increase its POS purchases as some retailers replace equipment 10 to 12 years old and others who replaced prior to Y2K see a need to upgrade to more reliable and easier to use systems."