Window shopping is no longer a consumer pastime. According to the recent research conducted by PYMNTS Remote Payments Playbook, there is almost 58% chance that a consumer knew what they were going to buy before they even walked into a particular store to make their most recent purchase.
Cashierless checkout, mobile payments, QR codes and the rise of biometrics for consumer authentication and secure transactions will continue to rise in 2019. Both offline and online stores must make an effort to incorporate technological advancement in order to create new and interesting customer experience.
According to the recently released Retail Innovation Readiness Index from PYMNTS, most businesses, specifically, 56.4%, are willing to switch payments service providers if offered a better deal. As well, the Index, which goes into detail about how merchants are moving past the traditional concept of POS and toward value-added services and other cutting-edge features, found that 55.6% of businesses innovate to meet demand to use new payment methods, with 43.6% innovating to improve business analytics.
Retail robots overwhelmingly rejected by Australian consumers Posted on: 20-02-2019
Retailers thought they had made their environment “more inviting” with shiny technologies, shoppers think otherwise.Read More
Bye bye credit cards, hello eyeball pay: The future of spending your money Posted on: 25-01-2019
Australia is transforming into a cashless society slowly but surely with consumers today prefering to make digital payment methods for convenience and efficiency.Read More
Krispy Kreme Builds on Omni-Channel Retail Ambitions with Payments Innovation Posted on: 09-01-2019
After building up its digital and payments capability, and making it a foundational layer in its go-to-market strategy and growth, Krispy Kreme chalked up a 23 percent increase in conversions in just one month.Read More
'Love-hate relationship': Retailers hit by the Afterpay Effect Posted on: 19-12-2018
Afterpay has millions of active Australian users, nearly one in 10 Australians - and $2.2 billion in sales. According to the latest report published by ASIC, it was found out that Australian customers, collectively, owe $903 million in buy now, pay laterRead More