Whether you are a big hospitality chain, a quick-service restaurant or a small retail apparel store, payment security is critical to your business and your reputation. Your customers entrust their payment information to you, and they expect you to protect it.
Over the past decade, consumers have changed the way they shop. Some are shopping using online platforms, and others shop on their mobile devices. But, safe to say, almost all of them are still visiting brick-and-mortar stores, and they expect an experience on par with the advanced technology available on all other channels.
According to a new report by Tillster, the self-service kiosk market is expected to reach an estimated $30.8 billion by 2024, with a significant portion of that growth coming from the food and beverage industry. Quick Service (QSR) and fast-casual restaurant chains continue to make headlines about plans to implement kiosks or touting success stories such as Panera’s.
Anyone can buy what you sell, but how do you know they’ll come back to buy from you again? And what is it that brings them back? These are important questions in understanding why your customers buy from you and not your competitors. An important factor that retailers should consider while organizing their sales strategy is how their products, services and everyday interactions make customers feel. Emotion is a major driver for purchases, and an even bigger driver when it comes to loyalty.
You probably didn’t realize it, but the future of payments is already here. While you may not be able to ride a hoverboard Marty McFly-style to work each morning, you can use your smartwatch to pay for your coffee on the drive-in. Wearable technology – some of the most futuristic consumer technology innovations – is here, and is enabling nearly invisible payments.
