Consumers spend more on back-to-school purchases than on Mother's Day, Father's Day and Valentine's Day combined. With Generation Z – the cohort born between the mid-1990s through the mid-2000s – headed back to school, here’s how retailers can get the most out of this major shopping season:
In the last few years, mobile POS has become a big part of many retailers’ in-store strategy. In the latest PYMNTS mPOS Tracker, 67% of surveyed retailers said omnichannel offerings are a priority in 2019. Nearly half, 45%, consider mobile POS to be essential within that strategy.
Winter is over and spring has sprung! You know what that means… spring cleaning, getting rid of old things and making room for the new. It’s also the perfect time to update, consolidate and/or refresh your payment technology. Technology and your business needs are constantly evolving, including your payments solution. It’s important to stay on top of your product lifecycles, make sure all your systems work together seamlessly and be in the know of what’s new in the market. With that in mind, here are three suggestions for your business to consider this spring:
Revamping the customer experience is all the hype in 2019 and according 451 Research, optimizing the checkout is central to providing a good in-store experience. All too often, customers abandon carts because of long lines. In fact, 56 percent of consumers can recall doing this at least 1 or more times in the last six months. If you’re still not convinced that a frictionless checkout is important, consider Amazon’s 1-Click technology that is worth billions thanks to its method of capitalizing on impulse purchasing.
Biometrics today, such as fingerprint readers and facial recognition, are making the payment experience more secure and seamless for consumers. Biometrics have been widely used in other industries including law enforcement, healthcare and voter registration for several years. In the past, authenticating a person came only in the form of either something you have (a key, a badge) or something you know (a PIN, a password). A password is more difficult to steal than a physical object, but it can still be done. Biometrics today also verify identity based on characteristics unique to the person which cannot be stolen or replicated (for the most part).
