Omnichannel Retail: Accept Payments Where Your Customers Are
Bringing Omnicommerce to Life & Accepting Alternative Payments
Armed with mobile devices and high expectations, consumers are coming to expect omnicommerce experiences when they shop. Omnicommerce is a retailing strategy that delivers a seamless customer experience through all available shopping channels. While there are different implications and strategies for every type of business, the ultimate goal of omnicommerce is to increase traffic, spending, and loyalty. How might this look for your business? Let’s look at three different scenarios.
Quick Service Restaurant
You’re a fast-food burger chain offering made-to-order burgers. You implement a mobile application that offers online ordering and in-store pickup. This allows your customers to place orders in advance via your mobile application. Because you have an in-app payment option, they are able to securely enter their card information (and store their card information for future purchases) to pay for their order in advance. When your customer walks into your store, thanks to a geo-location feature, your app automatically opens and your POS clerk can quickly scan a QR Code® with your existing POS equipment to confirm in-store pickup. You’re able to offer your customer an efficient, effective, and seamless experience. Customers are expecting more from quick service restaurants, with mobile payments leading the way.
You’re a multichannel retailer that sells electronic equipment. Your customers typically like to buy in-store, but often conduct research online beforehand or online via their smartphones when they are in your store. To offer a positive omnichannel experience, you’ve built your website with responsive design to make it mobile friendly. Further, by offering discounts that can be used across all channels, you can help prevent consumers from finding a similar product online at a cheaper price. Geo-location is one way to combat this behavior when a customer is already in your store. Vantiv research shows that 19% of consumers regularly “showroom” when they shop. Make sure your in-store and online experiences work together so discounts are honored across all channels.1
Pure Internet Retailer
You’re a pure internet retailer that only sells in the online environment. Your customers are interacting with you in more ways than ever before from their desktops, laptops, tablets, and mobile phones. Still, in this competitive retail landscape you understand the importance for many shoppers to touch and try on products. To offer a true omnicommerce experience, you bring your brand to life with in-person events and non-traditional promotions such as pop-up stores.
After years of successful pop-up shops, BirchboxTM recently opened its first brick-and-mortar store in New York City. While the bulk of Birchbox’s sales will remain online, they’ve given consumers a way to experience the Birchbox brand in-store. These examples show that as commerce becomes increasingly mobile, the cash register is no longer the only place to shop. The point-of-sale can be just about anywhere and you’ll need to enable payments no matter the location, channel, or device. How might omnicommerce look for your business? Contact us.
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