POINT OF SALE (POS) SERVICES AND PERFORMANCE OF RETAIL OUTLETS IN LOKOJA, KOGI STATE

This study examined the influence of Point of Sale (POS) services on the business performance of retail outlets in Lokoja, Kogi State. Specifically, it investigated the effect of cash withdrawal and cash deposit services on customer patronage and customer satisfaction. Four research questions and corresponding hypotheses were developed to guide the study. Employing a cross-sectional survey design, the study targeted a population of 1,062 retail outlets registered with the Kogi State Ministry of Commerce and Industry. A sample size of 291 retail outlets was determined using Taro Yamane’s formula. Data were collected through a structured questionnaire and analyzed using descriptive statistics (frequencies, percentages, and mean scores), while hypotheses were tested using the Spearman Rank Order Correlation Coefficient (rho) via SPSS version 24.0. Findings revealed that both cash withdrawal and cash deposit services are significantly related to customer patronage and satisfaction. Additionally, funds transfer services were also found to significantly influence business performance indicators. These findings are consistent with previous studies, which reported that offering POS services—especially cash withdrawals and deposits—enhances customer engagement and satisfaction. The results supported all four alternate hypotheses (Hi1, Hi2, Hi3, Hi4), leading to the rejection of the null hypotheses (Ho1, Ho2, Ho3, Ho4). The study concludes that POS services are critical drivers of improved business performance among retail outlets in Lokoja. It recommends that retailers, particularly those experiencing low customer engagement, adopt POS technology to offer cash-related services, thereby aligning with Nigeria’s cashless policy and enhancing both patronage and customer satisfaction