When the pandemic hit in early 2020, consumers were shopping online for essentials and nonessential items alike. According to a Deloitte report, as of May 2021, 71% of consumers feel comfortable shopping in stores. However, their shopping preferences are forever changed – only 27% will return to their pre-pandemic shopping habits. For SMBs, that means stepping up to meet changing customer expectations.
Payments experiences have changed significantly over the last few decades. Improved technology, customers’ needs for convenience, security measures and regulations have all helped transform how we pay for goods and services. If you look back at history, cash was the predominant mode of payment for a while. Soon after, checks became a practical option for large ticket purchases, allowing shoppers to carry less cash. Then came the plastic credit and debit cards – allowing consumers to have thinner wallets but larger purchasing power.
Consumer trends are always evolving. The use of new and improved personal technology enhances consumers’ lives and pushes them to expect similar experiences in everyday environments. The COVID-19 pandemic changed many things for retail stores and consumers alike. eCommerce grew by 44% in 2020 as consumers stayed at home at the peak of the health crisis and bought most things online. It also catalyzed the evolution of the shopping experience – including use cases such as, curbside pickup, BOPIS, etc. The question that lingers right now is are these trends here to stay for good? And if they are, how can retailers continue to drive more in-store traffic?
Grocery stores are integral to how we shop for produce and other food items today. In our conversations with grocers and grocery ISVs, there are a lot of questions around WIC that come up and the payment technology implications around. While we do talk a lot about retail and grocery-related topics on our blog, we wanted to explore WIC and help provide some information that can be helpful.
When it comes to terminal space at the merchant’s countertop, less is more. When it comes to the POS devices themselves, more is more. For ISVs and VARs, this creates an interesting challenge – how can you provide the most ongoing value to your merchant customers in a compact, modern way? The answer: Android.
