Global internet penetration is at an all-time high. Half of the world’s population (over 3.8 billion people) uses the net in some way or the other during their daily lives – especially when it comes to shopping. Shopping online, after all, saves them from having to stand in line at the local store. Also, people get big discounts on the net.
Stiff competition from e-retailers
Real-world retailers – those that own brick-and-mortar stores – are losing a significant amount of business to exclusively online retailers like Lazada.com. They can only retain customers by embracing technology to provide useful services to clients.
Here are 5 top online payment trends that retailers need to adopt to do business:
Accepting mobile payments
The more payment methods you can offer to customers, the better. Mobile payments are steadily gaining in popularity worldwide and are a very convenient method. EMV terminals at the checkout allow a client's phone that has NFC technology to receive payments quickly through mobile wallets like Apple Pay and Samsung Pay.
Creating shopping apps
Customers want to be able to shop fast and easily. Merchants – especially big brands – are now releasing mobile apps that assist them while they visit a store. The app lets them create wish lists, check the price of products, availability, get targeted discounts as well as keep track of purchase history. Shopping apps also allow customers to buy a product quick without standing in line.
Online purchase and real-world pickups
The ‘BOPUS’ phenomenon – or buy online and pick up in the store – is gaining traction too. Customers are making quick purchases online and – instead of waiting for days or weeks for delivery – are heading down to a local store belonging to the brand to pick up their purchased item that very day.
Customised loyalty programs
Traditional loyalty programs are no longer as effective as they used to be. Only a small percentage of shoppers actively use them. Instead, retailers are now coming up with customized loyalty programs that offer personalized rewards, depending on a buyer's taste and purchasing history.
Selling directly on social media
Social media users have long been able to share their favorite products and services on social media. Facebook – backed by Shopify – is now allowing users to not just view, but also directly buy their favorite products from their news feeds. Retailers are taking advantage of this trend to sell more products than before.
Openwave is an IT services provider that specializes in eCommerce Website development. We can help retailers bring their business online – by creating websites, e-stores, and apps – at very affordable prices.
Stiff competition from e-retailers
Real-world retailers – those that own brick-and-mortar stores – are losing a significant amount of business to exclusively online retailers like Lazada.com. They can only retain customers by embracing technology to provide useful services to clients.
Here are 5 top online payment trends that retailers need to adopt to do business:
Accepting mobile payments
The more payment methods you can offer to customers, the better. Mobile payments are steadily gaining in popularity worldwide and are a very convenient method. EMV terminals at the checkout allow a client's phone that has NFC technology to receive payments quickly through mobile wallets like Apple Pay and Samsung Pay.
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| Online store |
Creating shopping apps
Customers want to be able to shop fast and easily. Merchants – especially big brands – are now releasing mobile apps that assist them while they visit a store. The app lets them create wish lists, check the price of products, availability, get targeted discounts as well as keep track of purchase history. Shopping apps also allow customers to buy a product quick without standing in line.
Online purchase and real-world pickups
The ‘BOPUS’ phenomenon – or buy online and pick up in the store – is gaining traction too. Customers are making quick purchases online and – instead of waiting for days or weeks for delivery – are heading down to a local store belonging to the brand to pick up their purchased item that very day.
Customised loyalty programs
Traditional loyalty programs are no longer as effective as they used to be. Only a small percentage of shoppers actively use them. Instead, retailers are now coming up with customized loyalty programs that offer personalized rewards, depending on a buyer's taste and purchasing history.
Selling directly on social media
Social media users have long been able to share their favorite products and services on social media. Facebook – backed by Shopify – is now allowing users to not just view, but also directly buy their favorite products from their news feeds. Retailers are taking advantage of this trend to sell more products than before.
Openwave is an IT services provider that specializes in eCommerce Website development. We can help retailers bring their business online – by creating websites, e-stores, and apps – at very affordable prices.
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