The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
LakeWest Group’s annual survey of POS technology: Whither the web?
The proportion of specialty retailers with access to the web from point-of-sale terminals has doubled in the past year, according to the latest POS Benchmarking Survey from Cleveland-based consultants LakeWest Group Ltd. Today, 55% of specialty chains have web access from the point of sale, up from 27% a year ago. Adoption of web-based POS terminals will continue its rapid spread, LakeWest projects, with 56% of chains without web access reporting they plan to web enable their POS terminals within two years. Only 19% reported no plans to implement such technology, down from 35% a year ago.
The movement toward web-enabled POS is clearly the result of the upgrade of POS systems within the past few years. 55% of POS hardware is less than four years old. Here’s how LakeWest reports the market breakdown: