Ask any retailer what the last year was like and there is a good chance they will tell tales of the increased use of new technologies. There have been some major innovations in this arena over the last few years and it seems as though it could only be getting started.
A recent article from Business News Daily examined the current trends in the retail world and how they will evolve in 2014. The piece called 2013 a "monumental year in retail" citing mobile technology and e-commerce for revolutionizing the customer experience.
"Some of the changes retailers saw in 2013 included more robust and flexible mobile credit card processing solutions that enabled businesses to take payments anytime, anywhere; mobile payments that let consumers shop conveniently from smartphones and tablets, and advanced digital wallets aimed at replacing cash and credit cards for online and in-store purchases," the article reads.
The article goes on to make several predictions for what 2014 will have in store for retailers. Unsurprising, the list is compiled with a deeper impact of current hot trends. It includes:
- More affordable mobile solutions will emerge
- Mobile check-out experience will be fast, easy and secure
- Use of mobile wallets will increase in the U.S.
- Decrease in small business sourcing time
- Expanded cross-border e-commerce solutions
- B2B e-commerce will grow faster than B2C solutions
It seems clear that the payment and retail industries could be facing some major changes in the years to come. With the help of a retail solution provider, any merchant can embrace these trends.