With the holiday shopping season seemingly starting earlier each year, retailers are about to see the heaviest foot traffic in their stores since pre-pandemic. Generally speaking, in-store transactions generate a higher ticket than online orders. Therefore, creating a stellar customer experience is crucial to a repeat visit. Retailers would be remiss if the checkout experience were not considered in the overall customer experience. In fact, according to a recent study by Shopify, 70% of surveyed respondents said the checkout experience is their most significant pain point, with long lines and wait times as the most considerable inconvenience.
Businesses should consider enhancing the in-store checkout experience, and the best way to do that is by improving the technology. There have been many advances in current payment technology; self-checkout kiosks, mobile POS (mPOS) solutions, and even the “no checkout” experience.
Improving the checkout experience allows retailers to complete more transactions in less time, increasing customer satisfaction, leading to repeat business and loyal customers.
Convenience and efficiency are essential to a seamless checkout experience. Below are some of the innovative trends retailers need to utilize to enhance the checkout experience.
When utilizing an mPOS device, customers never have to wait in line to pay. These mobile devices allow retailers to meet the customer wherever they are on the showroom floor. A recent study showed that retailers saw more than a 25% increase in sales when utilizing mPOS solutions. Applying mobile technology to the checkout experience means that customers do not feel rushed, employees have access to information about products and stock at their fingertips, and the business can provide an individualized approach to build a lasting relationship with their customers.
Employing QR codes in the retail environment allows shoppers to use their mobile device to scan products as they shop, complete the purchase on their phone, and then pick up their items or have them shipped directly to their homes. This technology presents the opportunity for higher ticket sales as customers are more likely to complete the virtual cart transaction than they are when given the time to second-guess their choices while waiting in line at the register.
Buy Online, Pickup in Store (BOPIS)
BOPIS, click-and-collect, curbside pickup, among others, are shopping experiences that allow customers to buy online and then collect their orders in-store. These options are among the best ways to provide customers with added convenience when shopping. Unlike traditional online shopping, the customer physically comes to the store to pick up their items, presenting retailers with an opportunity to upsell. Have you ever walked in the store to pick up one thing, and something else caught your eye? These pickup-in-store options capitalize on this behavior.
Tap-to-pay technology allows customers to wave or tap their card over a contactless card reader, providing a faster and safer checkout experience over traditional chip-and-pin and magnetic stripe transactions.
Mobile payments are another innovative payment trend, with Apple, Samsung, and Google offering their own versions. Incorporating the right POS and payment processing technology to take advantage of the rise in mobile payments will help businesses enhance their overall customer checkout experience.
While biometric solutions have not taken the market by storm just yet, the technology has the possibility to create an entirely new shopping experience. With the current iterations offered by Amazon, customers enter and shop at a store by scanning an application or fingerprint and through enhanced-AI technology never physically checkout. The technology detects what products are taken from and returned to the shelf, completes the transaction virtually, and charges the customer’s card.
Businesses must continue to make advancements to adapt to consumer shopping behaviors. A survey by PYMNTS.com reported that consumers prefer unattended retail channels, with 49.4% saying they use self-checkout because it is faster and 34.7% saying they like the self-service option because of the shorter lines.
How PAX can help solve the checkout experience
PAX Technology is at the forefront of innovation, reliability, and security. Our values are more evident than ever in the retail space, where we supply payment solutions for all environments, including multi-lane, self-checkout, and mobile line busting. With our innovative devices, industry-leading Android-based operating system, and cloud-based PAXSTORE application marketplace, retailers of all sizes can create seamless shopping experiences for their customers through fast checkout, acceptance of a multitude of payment options, QR and barcode scanning, unattended self-service, effective inventory management, and more. Checkout may be a customer’s last experience in the store, but we believe it is an opportunity to build valuable relationships and keep them coming back for more.
To learn more about PAX solutions, don’t hesitate to get in touch with [email protected].