Business owners are increasingly realizing that ignoring the digital revolution currently underway in retail would be dramatically detrimental to overall sales and company longevity. So, more retailers are striving to update their business's systems to include technological innovations that promise increased revenue.
Customers now expect that all brick-and-mortar stores will have a corresponding website allowing them to access company information, browse products and even make purchases. Shoppers are fully taking advantage of the numerous buying opportunities granted by this technological growth, purchasing products online and picking them up in-store or buying in-store and having products shipped to their places of residence.
Additionally, more people are making purchases on their mobile devices and are using their phones to engage with mobile marketing strategies. As a result of this trend, retailers must not only utilize the available technology, but also fully integrate it into their systems to give the customer a streamlined, consistent experience.
Business Review Weekly notes, "A constant focus on the customer experience combined with the strategic use of customer data was seen as central to creating a sustained competitive advantage. Naturally, taking this approach across so many channels raises concerns around complexity."
In order to maximize efficiency and integrate all retail channels, businesses must actively assess the technology currently in operation and decide if it is the best option to enhance the customers' experience. For this reason, it is vital that companies install credit card processing software that has the ability to operate with multiple terminals and gateways, both in-store and online.
Vijay Balakrishnan drove home this point in a recent piece of The Point of Sale News: "If the first wave of retailers' approach to ecommerce was about expansion, this second wave is more about integration. I believe the more innovative retailers will continue to invest heavily in in-store technologies in a way that integrates the benefits of the online world with a satisfying in-store experience. This will draw customers into their stores, and will drive other retailers to follow suit."