Check processing solutions and cash counters are essential business tools for retailers. Despite advancements in e-commerce technology, a large majority of consumers in the U.S. continue to conduct the majority of their shopping efforts in physical stores.
Retailing Today, an international newspaper and online magazine, cited a recent study from the information technology consulting firm A.T. Kearny that examined the behaviors of 3,000 consumers in both the U.S. and the United Kingdom. According to the report, brick-and-mortar retail establishments are more important than ever before. However, their roles have changed slightly.
For example, the "Recasting the Retail Store in Today's Omnichannel World" report found 61 percent of shoppers interviewed claimed they spend the majority of the time they spend searching for products in actual stores as opposed to browsing online. In fact, only 4 percent indicated they regularly shop through mobile channels or through catalogs respectively.
A new and improved role for the physical retail store
However, even in circumstances in which consumers utilize online channels to purchase products, brick-and-mortar stores continue to play important roles in delivering customer satisfaction. The A.T. Kearny report concluded the integration of multiple retail channels enables businesses to enhance product discovery and transaction processes.
"Regardless of where a product is purchased - via online or mobile channels - the product can be tested, picked up or returned to the store," Dan Farmer, principal at A.T. Kearny and co-author of the report, told Retailing Today. "Here again is an opportunity to capitalize on impulse purchases during these customer visits.
Utilizing such integration is especially important during the approaching holiday shopping season, according to a recent report from Deloitte, an international consulting firm. Even among those consumers who do search for products online, many are still likely to visit nearby stores to make final purchases. They may even travel to physical establishments to pick up goods they purchased online, which means there is an increased opportunity to leverage additional in-store transactions.
As retailers prepare themselves for a busy holiday shopping season, money counters can play a vital role in determining daily sales and enhancing backroom processes. Check scanners can also make it easier to quickly and accurately prepare deposits, especially during times when consumers are more likely to make larger purchases.
October 17, 2013