While real-time payments offer retailers faster processing and lower costs, they can unlock new value by enhancing the customer experience, improving loyalty and offering more insight into consumer needs and shopping behaviors. To capitalize on these opportunities, retailers and their PSPs need modern back-office systems designed to operate in a real-time payment environment.
The ongoing economic uncertainty is creating several challenges for retailers, making consumers more frugal. To remain resilient through economic challenges and maximize sales, retailers must stay prepared to weather any anticipated slumps. This requires the ability to analyze trends and shoppers’ habits on a frequent basis, staying up to date while more accurately planning for the future.
With online and store checkout being such a vital part of the overall customer experience, prioritize enhancing your payment processes to ensure a smooth and frictionless journey. This leads to lower online cart abandonment rates, larger basket sizes, higher retention rates and more revenue. Here three critical elements to include.
To execute the perfect customer order, your order management solution must deliver what customers now expect – the omnichannel experience of buy anywhere, fulfill anywhere and return anywhere. Otherwise, they’ll quickly find somewhere else where they can get that experience.
Ecommerce platform company Bigcommerce announced it has acquired Zing, a provider of mobile retail technologies.
In order to rationalize costs and focus more on omnichannel, Chico’s FAS plans to close 120 locations through 2017, including 35 this year.
With the drumbeat of bad news about online credit card breaches continuing, retailers can use tokenization to protect against consumer data theft.