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Enterprise Retail / Omnicommerce / eCommerce

Retail's Changing Landscape

Editorial Board
Executive Summary
How to Thrive in Retail's Changing Landscape

Providing lasting customer experiences in today’s ever-changing retail landscape is the difference between merely surviving and dominating in the marketplace.

The world of retail has changed more in the last 3 years than it has in the last 30, and as a result, it’s undergoing a transformation of unprecedented proportion.

While consumers still continue to value the physical shopping experience and make most of their purchases in traditional brick and mortar stores, they expect the in-store experience to carry over the same features they love about online shopping. E-commerce continues to gain popularity across all consumer demographics. And while Smartphones are common among every age range, Millennials (20 – 36 years old) and Gen Z’ers (anyone born after 1997) likely don’t know a world without high-tech and Uber convenience.

Shaped by highly experiential online shopping and countless hours scrolling social media sites, consumers have a new definition of what convenience means. They are drawn to in-store shopping experiences that are digitally-connected events, rather than trips to the store to buy more “stuff.” Inside the store, consumers want to use their favorite apps. They want store associates to know who they are — even if they normally shop online. They want to be rewarded for their loyalty — not with generic offers — but with personalized incentives that are relevant to them. And, they want to use their payment method of choice, without spending an eternity in the queue.

woman paying with a mobile device

They want to use their payment method of choice, without spending an eternity in the queue.

This pace of change is forcing retailers into a seismic shift in how they view their customers. To effectively create the connected, personalized shopping events today’s consumer demands, retailers must tear down the silos between their online and physical storefronts, so both channels can seamlessly and securely share information. By doing so, retailers are provided with advanced customer data and analytics for better targeting, consumer insights and personalization across all channels.

Some of the U.K.’s largest retailers already use Verifone’s Omni-Channel solution to seamlessly integrate their systems and receive historically unavailable consumer information. This enables them to strengthen their brands and create unique, relevant experiences that follow customers — whether they’re shopping online or in the store.


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