Payment Options
April 22, 2019 at 10:47 am
When shoppers encounter a retailer that doesn’t accept their preferred payment method, 55 percent will spend less or go elsewhere according to a recent study by Adyen. Yet, payment preferences can involve an array of layered factors. Payment options should go beyond offering credit card or cash to allow shoppers to finance purchases, especially higher-priced…
April 19, 2019 at 11:52 am
In this week's Retail Right Now, Total Retail's Joe Keenan and Kristina Stidham discuss Amazon.com's recent decision to accept cash payments at its Go store, and how this change could impact operations. The change was made following mounting criticism that the cashless stores discriminated against the poor. In our analysis, Amazon could see both positive…
April 15, 2019 at 11:27 am
In our bustling retail landscape — today’s most competitive market — it’s hard to believe that many online merchants, particularly those based in the U.S., avoid access to global transactions. When considering U.S. cross-border e-commerce is expected to generate sales of $203 billion by 2021, it should be a no-brainer for online retailers to consider capitalizing…
April 10, 2019 at 1:27 pm
Amazon Go stores, which let customers buy items without waiting in checkout lines, will start accepting cash, amid intensifying criticism that the company is discriminating against the unbanked. In an internal all-hands meeting last month, Steve Kessel, Amazon’s senior vice president of physical stores, told employees that the company plans “additional payment mechanisms” at its…
April 8, 2019 at 9:47 am
“It’s a marginal world out there for us.” This is what you might hear if you ask a retailer how they're keeping operational costs and erratic buyer behavior from eating away at the bottom line. The delicate retail balancing act of inventory vs. pricing vs. markup often results in a low net profit margin, but…
April 4, 2019 at 9:59 am
Let’s be real: the state of brick-and-mortar retail in 2019 is equally exciting and terrifying. Amid widespread closures, uncertainty and the ever-present behemoth that is Amazon.com, there's an amazing wave of innovation in mobility that has the potential to transform — and yes, save — the retail experience for a new generation of consumers used…
February 25, 2019 at 1:53 pm
As their popularity continues to grow, it’s important for us to analyze consumers’ behaviors and attitudes around open-loop gift cards.
February 19, 2019 at 9:57 am
Visa and Mastercard, the two biggest U.S. credit card networks, are preparing to raise certain fees levied on U.S. merchants for processing transactions starting this April, The Wall Street Journal reported on Friday, citing people familiar with the matter. Some of the changes relate to so-called interchange fees, the report said. Interchange fees are what merchants…
February 15, 2019 at 10:05 am
The holiday season is the busiest time of year for retailers, when amidst all the festivities and cheer, consumers are spending big. In 2018, the National Retail Federation forecast consumers would spend an average of $1,007 on decorations, candy, gifts, and more. However, the end of the year is also a critical time for retailers because…
January 23, 2019 at 1:01 pm
Target will soon accept Apple Pay, Google Pay, Samsung Pay, and other mobile payment options in its stores, the company announced in a blog post Tuesday. The retailer is striving to offer more convenience and faster checkout experiences to customers. Target has offered mobile payment via its Target App since 2017, and the addition of…
