While the digital era has affected the retail realm as more shoppers are turning to the Internet and the mobile devices to purchase products and services, consumers still desire the traditional retail experience. Shopping at brick-and-mortar stores is an enjoyable time for many shoppers as it offers a more physical reality as well as additional payments options. Consumers are spending more, but they want their purchases to be a smart decision. This means they are making sure they are getting the best deal and putting their money to good use. With this kind of sentiment, people will want the option of paying with cash, checks or debit cards. Stores need to be ready to accept payments and can prepare by investing in the most efficient cash counters or check processing solutions.
In-store experiences matter
Purchasing goods in person is important, and stores will develop a loyal base of customers if they offer the right payment options. Recent studies by Polaris Marketing Research showed that loyalty programs are driven by the cost benefits. More people want to save as much money as possible and get as much out of a brand's loyalty program as they can. Offering a great program that serves dedicated buyers is key, but it's also important to make the in-person experience meaningful.
While mobile and online shopping is a booming trend, another survey Kentico Software showed that 63 percent of consumers surveyed said they would prefer to shop for goods in a physical store. People are still looking for a more "real" experience when it comes to shopping. The physical reality of shopping makes more of an impression on consumers and will continue to affect their spending habits. A lot goes into the decision process when buying a product or service and having the item in front of a person and then being able to buy it and take it home the same day means a lot to shoppers.
Importance of cash payments
It's important to note that with people still appreciating the in-store purchasing experience, more credit card, check and cash payments will be made. People are more confident, yet increasingly intentional with their funds. Retailers looking to count and manage store payments appropriately can look to money counters and check processing solutions. Such services will help stores organize and deposit the influx of cash easier and make for an efficient organization overall.
October 10, 2013