The Logic Group – a payments services provider and Barclaycard company – has launched its Retail Report 2015, which looks at the three key trends which are driving the modern omni-channel retail market.
The top three omni-channel retail trends
- Contactless: fast becoming the most popular payment method with 74% of UK consumers stating it as their preferred method. The momentum behind contactless shows no sign of stopping with the upper limit set to rise from £20 to £30 on card payments and high value contactless on mobile payments set to remove the limit altogether. Before long the old mantra may have to be changed to ‘contactless is king’
- Security: when talking payments and customer data, security is never far behind. Over half of consumers consider it the number one consideration when choosing a payment method. Often this has led to consumers being wary about adopting new methods but technology like tokenisation and P2PE have given retailers the tools to better safeguard customer data and stop themselves from becoming the next Carphone Warehouse or Target
- Data: as technology takes a greater role in the retail experience, there is more data available than ever before. This data is challenging traditional marketing paradigms and approaches, allowing businesses to market to their consumers in more relevant and effective ways. Success in the omnichannel retail environment is based on knowledge of the customer.
Retail Times’ readers can download the full report here