Retail has changed more in the past year than in the previous decade. The pandemic has accelerated ecommerce and online options, out of necessity. Now, shoppers have more choices than ever, resulting in new demands for their desired in-store experiences, like scan & go. Here’s how it’s a win for retailer and shopper.
With online trends set to outlive the pandemic itself, ecommerce brands are reckoning with an increasingly competitive online landscape in which consumers are more than willing to change their brand loyalties if it means a better customer journey. Here are four ways to drive sales and engagement in the current environment.
Mobile payment has never been more important, with an estimated 70% of all ecommerce sales to come from it by 2022. However, just implementing that option isn’t enough. It’s crucial to make the mobile payment experience as seamless as possible. Here are 5 of the most effective ways to improve the mobile payment experience.
Fast, a startup that provides one-click checkout for ecommerce sellers a la Amazon and has expanded into identity and other areas, has raised $102 million in a series B round led by major payments provider Stripe and Addition, bringing the company’s total raise to $124 million. The COO and co-founder from Uber described the business.
Social commerce is a great, cost effective way for merchants to expand channels and visibility. 36% of U.S. internet users say social networks have become as important as other information sources for making product choices and 70% of shopping enthusiasts say they turn to Instagram to discover products.
Following the playbook of developing innovative tech then selling it, Amazon is offering retailers its cashierless checkout capability from Amazon Go stores. Amazon said Just Walk Out is already under contract to several retailers it wouldn’t name. OTG, with hundreds of CIBO stores at 10 major U.S. airports, will soon be using it.
The juxtaposition of “fast and frictionless yet safe” checkout puts a large burden on retailers who may be tempted to add extra steps to increase security. While there are many ways to meet these growing customer expectations, the best approach is to prioritize the user experience. Here are 4 trends to watch for in 2020 and beyond.
Accel Robotics, a startup using AI and computer vision to enable checkout-free stores, has raised $30 million in a Series A round led by SoftBank. The system lets shoppers in grocery and convenience stores, quick service restaurants and drugstore chains grab items and go, getting a receipt sent via text or app to their phone.
With an omnichannel approach becoming ever more prevalent in the grocery industry, a new report found grocery retailers excelling in some areas while needing a bit of improvement in others. That’s according to a new omnichannel readiness benchmarking report from the Food Marketing Institute (FMI) and FitForCommerce.