The future of retail is through e-commerce, as consumers spend more and more time browsing items on their preferred electronic devices. Nearly all retail businesses have an online store these days, and most of their payments occur digitally.
With new versions of digital wallets, online offers, and buy now pay later options, this trend of shopping and paying online will only increase every year. Contactless, real-time payments make transactions quick, simple, and hassle-free, allowing customers to access what they want when they want at the tip of their fingers. The global online payment market was valued at $3,286.52 billion in 2019 and is projected to reach $17,643.35 billion by 2027, at a CAGR of 23.7 percent in the forecast period.
This edition of Retail Tech Insights showcases the key developments in the retail payments sector and how businesses are leveraging the latest solutions and services to elevate their brand and ensure that their customers have access to the best products. It features thought leadership articles from Bill Bass, chief marketing officer and Kara Lawson, senior director of commerce for FULLBEAUTY Brands, and Natalie Ashes, head of commerce at GraysOnline. Bass and Lawson stress the importance of utilizing A/B testing to test new updates for a website and how it allows them to roll out only the best features for their customers. Ashes highlights the necessity of any business to reinvent itself during times of change in order to adapt and better serve its evolving customer base.
The issue also features Orchid, a leading federal firearms licensing company that provides POS and ecommerce solutions to its customers. It helps merchants stay compliant and enjoy a simplified payment experience with the use of its in-depth understanding of the industry and accomplished group of trusted employees.
In this edition of Retail Tech Insights featuring the leading providers of retail payment solutions, we hope you can find your ideal tech provider that fulfills your business’s retail commerce needs and helps your brand elevate its position in the growing market amidst ever-changing trends.
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