Are you ready to take your business from online to brick and mortar? Don’t set up shop without these essential tech tools. From microchip readers to mobile checkouts, these are the tools your business needs to find success.
Many major retailers, like Target and Walgreens, have rolled out the new EMV reader technology. EMV, which stands for Europay, MasterCard and Visa, is now the new global standard, as it has already been widely adopted in Europe. This new technology adds an additional level of protection and security to all purchases. Although the October 2015 deadline for debuting the new technology has already passed, a large number of independent chains and small scale retailers have yet to get the technology out to the retail sales floor. But without the EMV technology in your brick-and-mortar shop, you could be liable for any fraud that occurs, meaning you have to pay expensive fees in lieu of the new EMV machines.
While many smaller retailers have to weigh the pros and cons of adding expensive new technology, it’s important to get the technology to the consumer, as customers have already received their microchip cards from their banking institutions. Plus, this new technology protects both consumers and businesses from fraudulent transactions. Payment solutions from providers like Sage make managing payments simple and fast. Sage offers payment terminals equipped with the EMV readers that process microchipped credit and debit cards. The company also offers a range of resources that can be used to teach your employees how to use and understand the new EMV technology inside and out.
Tablets and Top Tech
Today’s retail world relies on technology more than ever before. The presence of social media, apps and easily accessible tech is present in the majority of consumers’ everyday lives. This has resulted in retailers bringing technology to their storefronts as well. The Seattle-based clothing retailer Nordstrom equips all of its salespeople with iPads, which enable the associates to quickly look up items, compare prices and process orders for consumers. This trend is becoming more and more popular among retailers and small business owners. As portable tech continues to increase, fewer and fewer traditional checkouts and registers can be found in brick-and-mortar stores.
Additionally, retailers including Nordstrom, Levi’s and Brooks Brothers are at the forefront of bringing new, innovative tech into their shops. Both Brooks Brothers and Nordstrom recently debuted technology from Intel, called RealSense, that uses body-scanning technology to get customers’ exact measurements, from shoes to suits. While this technology doesn’t come cheap, it’s something to consider, as retail technology is constantly evolving.
Portable tech has allowed us to do almost everything on-the-go. From ordering take out to a new pair of shoes, smartphones and tablets can do the job. Consumers are increasingly looking for that same experience in brick-and-mortar stores, which is why it is essential to stay on top of retail tech trends. Currently, 17 percent of retailers have adopted mobile checkout technology. However, according to a report by LightSpeed, that number will increase 170 percent in the coming years. Additionally, mobile transactions have already surpassed desktop transactions, according to data from Mobify Insights. There’s no denying that mobile transactions are becoming the new normal in brick-and-mortar shops.
Keeping up with technology is important when transitioning your business from an online to brick-and-mortar store. These tools provide your customers with safe, fast and efficient service, which will keep them coming back.