Are retail storefronts primed for a comeback?

physical retail spaces have their own array of advantages when it comes to delivering on value propositions.

Much has been written about the threat that ecommerce sites pose to brick-and-mortar retail operations. However, some experts say the tide may be shifting in favor of traditional storefront retailers. 

This led Karen Webster of PYMNTS to ask the question: "Is physical retail a threat to Amazon?"

"Amazon is largely correct that consumers are driven by convenience, selection and price. But in a connected device world, those words now mean different things," she writes in an op-ed. "And the combination of smart devices and technology is helping retailers large and small and on and offline respond to how consumers now interpret what it means to deliver 'convenience.'"

This is to say that physical retail spaces have their own advantages when it comes to delivering on value propositions. From the in-person experience to the convenience of obtaining a product on the day it's purchased, those perks can be leveraged into loyalty and business. Like ecommerce sites, retailers have become increasingly dependent on mobile and online modes of communication, payment processing and other tasks. 

Ecommerce sites depend primarily on card-not-present transactions, which pose a different set of security challenges than point-of-sale systems with card-present transactions. For that reason, businesses should tailor their card payment data security to suit the needs of their operating models. If executives discover that their clientele favors mobile payments, implementing a system like Apple Pay could be a wise move. However, some companies might find that those platforms aren't necessary or desired among their customers. 

Every business is unique, and payment security and offerings should reflect the specific needs of your company. Contact Vantage today to learn more about finding the ideal credit card processing service tailored to your business.

by Ty Hardison

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