Anyone who shops on a regular basis is well aware that the retail world is changing. The point of sale system has undergone a number of changes in recent years as technology has advanced and customers have become more comfortable with the latest trends. This shift is far from over, as consumers are using tools to shop in new and interesting ways.
Bloomberg recently interviewed eBay CEO John Donahoe about the future of retail. According to the executive, eCommerce and physical retail locations have merged into one system. Consumers now like to head to brick-and-mortar retailers to try things on but then use their mobile device to compare prices and order the items online.
This means that businesses that operate in physical locations need to embrace online options and vice versa. Many online-only businesses, like eBay, are also looking for ways to add a physical branch. On top of that, there is the inclusion of mobile commerce options.
"The way we're thinking about the offline world is, what are consumer pain points? No one likes standing in lines. Whether you're at a Jamba Juice or a coffee shop, if you can order ahead or order when you walk in the store, pay and go around the line--the merchants like that, and consumers like that," Donahoe told the news source.
Merchants do not need to be afraid of these changes as they are helping improve business operations. With the help of a retail payment solutions provider, any company can embrace the future of retail and increase revenue in the process.