4 Retail Technology Trends for Your Business
Consumers’ buying behavior and preferences are constantly changing as technology evolves. In recent years, consumer purchases have been influenced by mobile devices and online shopping sites that allow customers to shop from anywhere with an internet connection. Retailers must stay on top of these trends if they want to remain competitive in today’s evolving marketplace. Here are four retail technology trends that your business should be paying attention to:
Point of Sale Systems That Integrate With e-Commerce Platforms
An increasing number of consumers are shopping online, and retailers need to accept payments through a variety of channels. A c-store POS system that can integrate with an ecommerce platform will allow you to process transactions both in-store and online. This will help you to reach more customers and boost sales.
A POS system can also streamline payments and inventory management for your business. Therefore, cashiers will focus on providing excellent customer service instead of dealing with payment processing and manually tracking inventory.
In 2019, 90% of shoppers conducted a web search about a store before heading to the shop. In post-pandemic times, the number of customers who research their purchases will only increase. Make sure that your business can be easily found online by integrating a POS system with your ecommerce platform and Google Maps. If your products aren’t online, you’re missing out on many potential sales and foot traffic.
Today’s consumers expect a seamless shopping experience, whether online or in-store. In order to meet these expectations, retailers need to use omnichannel marketing techniques.
Omnichannel marketing refers to multiple channels such as email, social media, and direct mail to reach a specific target market. These different channels can be combined to create personalized customer experiences like coupons and special promotions. Retailers should also use omnichannel marketing tools to track the effectiveness of their efforts so that they know which strategies are working best for their business.
Customers interact with businesses through different channels. You need to integrate these different channels into your market strategy and stay consistent in your messaging.
Buy Online, Pick Up In-Store
Customers are already familiar with the convenience of ordering online and picking products up in a store. However, they still appreciate when retailers go a step further by offering BOPIS. Using this technique, customers can have their purchases ready for pickup at their convenience.
BOPIS can be a great way to increase sales, as it allows customers to buy items that are out of stock in-store or that are not available locally. It also helps to reduce shipping costs and wait times for customers. Offering BOPIS can also help retailers improve their customer service by meeting customers’ physical needs in-store. It’s all about giving your customer what they want when they want it.
In order to keep up with the latest payment technologies, retailers should consider accepting contactless payments. Contactless payments are a convenient way for customers to purchase items without using cash or credit cards. Today, contactless payment methods such as Apple Pay and Android Pay have become increasingly popular in the United States. Different payment methods allow consumers to make quick purchases using their smartphones by tapping them against a near field communication terminal at checkout.
Contactless payments are becoming more popular as they are faster and more secure than traditional methods. They are also convenient for customers as they do not need to carry any extra cards or cash.
There’s no doubt that physical stores will remain a critical part of the retail industry. However, retailers need to embrace new technologies and trends to stay competitive.