Shoppers trust retailers more if they can see modern technology being used in store, claims research by payments processor Worldpay.
According to the research, conducted by Worldpay, the global leader in credit/debit card payments processing technology, three quarters of consumers (75%) said alarm bells start to ring when a store seems behind the times from a technology point of view. Londoners and the under-35s were the most judgemental. Eighty per cent of respondents in these groups said they’re more likely to trust retailers that use up to date technology than those that do not.
When pushed to qualify their answers, respondents said they thought retailers who had invested in up to date technology came across as more professional, and committed to improving the overall shopping experience for their customers.
Read more below on how to increase customer confidence in your retail business.
Digital anthropologist, Nik Pollinger, said: “Technology has become such a pervasive influence on our daily lives that our judgement on whether a business is professional, reputable and reliable is increasingly driven by their use of modern technology. It’s now relatively simple and inexpensive for any shop to deploy technologies that make life easier for digitally driven shoppers. So if a shop seems unwilling to make that investment, it can trigger a lack of confidence. Where else are they cutting corners? Why aren’t they giving customers what they want?”
Handwritten receipts, cash only payments and the lack of a website were among the main ‘technology triggers’ which led consumers to think twice about whether or not to part with their money. Forty-one per cent of consumers said retailers they trusted most made it easy to pay by card as well as cash, while 39% said they trusted retailers who offered digital receipts to make returns easier.
Businesses that refuse to take card payments provoked a particularly strong reaction amongst respondents. One in five of those under-35 said they’d be concerned about the quality of products in stores that only took cash and a further 22% have abandoned purchases when their preferred payment option is not available.
Pollinger added: “Modern shoppers equate in-store technology with the type of convenience they have become used to with eCommerce and that’s especially true when it comes to payments. We’ve seen these feelings emerge strongly among consumers who have grown up with the convenience of smart-phone shopping. But the reality is that our attachment to technology as a way to make our lives easier, is far more universal. It’s no coincidence that 40% of those over 55 say they actively seek out shops that accept cards.”
The study further revealed that:
- A quarter of those under 35 would not consider dining in a restaurant that didn’t have a website.
- One in 10 of us admit we have doubts about the quality of food if a restaurant does not take cards.
- One in five would not book an appointment to get their hair cut if they weren’t able to check the salon out online first.
- Ninety per cent of consumers say it’s an absolute minimum requirement today that clothing stores, restaurants, grocery stores and hotels / guest-houses accept card payments
With 80% of consumers thinking retailers could be making better use of technology to improve the in-store experience it’s clear that small businesses need to embrace change and digitally evolve in order to thrive as part of a modern and diverse retail environment.”
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