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Retail Business Review | Thursday, April 14, 2022
BOPIS(Buy online, pickup in-store) has become an important way for many stores to go on to do business.
Fremont, CA: The retail sector witnessed unprecedented disruptions in 2020. Due to the pandemic, no large retailers have been compelled to adapt to public health legislation and restrictions, compelling them to sway or even close business models. Even though key retailers have been able to retain their in-store experience, they have also been met with supply chain and inventory issues during the global health crisis.
These near-constant changes have forced retailers to concentrate more than ever on technology, and organizations have recognized the major role that technology can play in moving forward. So even though not all developments introduced in 2020 will last, some of them are likely to impact the industry for years to come. Those are the retail tech patterns to be recognized in 2021 and beyond.
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BOPIS is Here to Stay
BOPIS (Buy online, pickup in-store ) has become an important way for many stores to carry on doing business. With social distance restrictions limiting the number of people allowed in stores at one time, many customers have embraced BOPIS as their preferred shopping mode since it does not entail waiting for delivery.
In addition, half of the shoppers expect to enlarge their aid of contactless pickups as the holiday shopping season progresses. To address this need effectively, retailers will require integrated data analytics and mobile device management software to keep workers up-to-date and sophisticated inventory management to ensure a smooth shopping experience.
Retailers Required to Accommodate Varied Forms of Payment
Just as retailers need to make contactless pickup accommodations, they also need to accommodate new ways of payment in response to evolving consumer preferences. Contactless payment is the cornerstone of this initiative, and more shoppers are using it than ever before.
According to The Financial Brand, research by the National Retail Federation found that 1 in 5 shoppers reported making contactless payments for the first time during the pandemic. In addition, the same research indicated that 57% of consumers said they would continue to make contactless payments after the pandemic.
Retailers need to have contactless point-of-sale readers and mobile POS systems to fulfill current consumer requirements. In addition, the convenience of these systems will permit them last until 2021 and beyond.
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