Modern-Day Retail Industry Forecasts

The global market always changes. This can be said with more certainty than the Earth continuing to spin. But how it changes and what will change is something that is as hard to predict as the weather. So for that, most people end up doing predictions and forecasts by analyzing the trends that have been going on for the last few years. The world is changing in its many phases and is revolving around the issues and of population and money. It has come down to the ages where the more money and technology one has, the more he or she will accomplish.

More payment options for the tech savvy

Apart from the traditional payment options of going to the cart and then putting your card information, the increasing technological inventions will make it possible to pay in easier manners. And the accelerating trend of making your own website and e-store or social media page, will make it easier for those who are on their portable devices to pay for their purchases from these sites.

PayPal recently rolled out their PayPal Here Chip Card Reader which is compatible with Android and iOS devices and will accept EMV and magnetic stripes cards for payments. It also takes in Apple Pay, Android Pay and Samsung Pay NFC payments. Apart from that you have Mercury that gives the retailer the required hardware to accept EMV cards and mobile-payments, and then there is Poynt which is a smart terminal that can take magnetic cards, NFC, QR codes and EMV payment options. So the times of going to the licensed money lender in times of hardship has gone by.

The dawn of click-n-collect

If you do not have cash with you and do not want to go to the licensed money lender to get easy cash, then you can use your phone and make the purchase. Click and collect is an initiatives that popped up a couple of years ago and is steadily becoming one of the favorites among customers. They can buy online and then collect the items from the store. This usually happened through the website on the computer but the mobile apps for the stores have become increasingly adapted to this system. Some stores have even added the option of letting the store know when you are nearby so an employee can actually bring you the items to your vehicle.

Due to customers using different pathways and websites and platforms to do their shopping, accumulating all the data has become an issue. And such, in the coming years, retailers are advised to collate their offline and online data both as to give accurate information of shopping habits.