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.

Consumers aged between 25 -34 typically does window shopping via smartphones at the comfort of their homes, at cars, basically anywhere where they have or can access internet. Through browsing on their phones, they find the next product that will purchase. Aside from mobile window shopping, a whopping 44% of consumers who bought goods did it remotely; completed the shopping via their smartphones.

They did so simply because they like to, and because they can.

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.


The coming new year will bring more consumer moves to digital banking. That being said, that could potentially spark faster development of real time transactions.

Source

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