Are any alternative in-store payments about to break out? - RetailWire

Jan 03, 2023

After ramping up efforts to trim friction successful the online buying acquisition implicit the pandemic, retailers are present reportedly focusing their investments connected the in-store outgo process.

According to a caller Wall Street Journal article:

• Halfords, the UK-based retailer of car parts and bicycles, is exploring a exertion that uses sound waves to alteration digital payments via a customers’ mobile device.
• Kroger is investigating astute buying carts that alteration customers to debar the accepted checkout line, arsenic good arsenic exploring installing checkouts successful idiosyncratic aisles.
• Nordstrom is investigating outgo via mobile phone.

Recent studies amusement consumers becoming much unfastened to alternate outgo methods owed to the usage of contactless payments implicit the pandemic.

A survey of U.S. consumers taken successful December 2021 by Anyline recovered 76 percent of scan-and-go users started utilizing the offering due to the fact that of the pandemic. Of those respondents, 79 percent program to proceed to bash truthful erstwhile the pandemic ends. Thirty-two percent cited velocity arsenic their archetypal precedence erstwhile buying successful stores.

Among those not utilizing scan-and-go, the apical reasons were privateness concerns, cited by 35 percent; not wanting to spell done the process of downloading an app, 32 percent; and the inability to usage the app to bargain definite products, specified arsenic nutrient and alcohol, 31 percent.

According to Marqeta’s “2022 State of Consumer Money Movement Report,” 71 percent of U.S. consumers surveyed utilized a mobile wallet successful the past 12 months, up from 64 percent successful precocious 2020.

Fifty-six percent felt comfy leaving their wallets astatine location and taking their phones with them to marque payments, according to the Marqeta survey. Among property groups, 59 percent of 18-24 year-olds expressed assurance with leaving their wallet astatine home, but lone 36 percent of 51-65 twelvemonth olds felt the same.

A Morning Consult survey taken successful December 2021 identified immoderate outgo methods not gaining important traction, including sending a outgo straight done a societal media platform, lone 23 percent doing so; buying thing wrong a crippled oregon virtual reality, 19 percent; paying for thing utilizing a wearable device, 12 percent; and buying astatine a “just locomotion out” store, 11 percent.

• Retailers Rethink In-Store Tech arsenic Shoppers Return – The Wall Street Journal
• Anyline Retail Survey: 77 percent of Shoppers More Willing To Visit Stores with A Scan-and-Go Option – Anyline
• New Report: 2022 State of Consumer Money Movement – Marqeta
• Mobile Payment Users Are Ready to Embrace Frictionless Retail Payments – Morning Consult
• Visa reports accelerated maturation successful contactless fare payments worldwide – NFCW
• Apple Pay At 8: Connected-Tech Consumers Lead The Way – Pymnts

DISCUSSION QUESTIONS: Will scan & go, astute carts, mobile payments oregon immoderate different alternate outgo method summation important traction successful 2023? Will astir payments astatine the store level apt beryllium made via accepted staffed cashiers and self-checkout terminals good into the future?