Payment integration helps stores adapt to new consumer demands
January 10, 2014
Integrated payment systems can help small and medium-sized businesses avoid many of the challenges associated with adapting to new customer demands.
In partnership with the customer experience solutions provider Baynote, the e-commerce consulting firm the e-tailing group recently released the fourth annual "Holiday Online Shopping Survey," which revealed key insights into consumer trends that will likely affect the retail industry in 2014. One of the most important findings was the fact that most shoppers have now come to expect a fully connected multichannel experience when interacting with brands.
"This year's holiday survey clearly demonstrates that consumers, driven by millennials, are challenging retailers to deliver an exceptional experience," Marti Tedesco, senior director of marketing at Baynote, stated in a press release. "For retailers, this means creating a seamless customer experience across all devices that is integrated with in-store shopping activities."
Tedesco added that businesses that are able to impress their customers have a better chance at experiencing success in the long run.
A recent article published in Jeweller Magazine cited data from the Ebeltoft Group that found technological innovation will be crucial for businesses in a variety of industries in the coming years. Especially small and midsize stores must be aware of new trends so as to not lose valuable sales opportunities to larger competitors.
"Retailers don't necessarily need to spend a lot of money, but rather, when looking at these trends think, well what's my version of this? How am I doing things a bit differently? Am I always doing what I've always done?" Ebeltoft CEO Brian Walker told the magazine.
Investing in a more dynamic multichannel offerings becomes much easier with advanced payment integration tools. Business owners don't need to waste time manually sorting through transaction data. Instead, a reliable interface can maximize back office efficiency and uniquely position any firm for long-term growth.