Payment Technology

5 Tips on How Retailers Can Thrive in the New Contactless Post-COVID-19 World

Gigi Beyene
SVP, US Partners

COVID-19 has changed the way retailers have done business for years. Despite the frustration, retailers should look for opportunities for changes to improve the foundations of their business model. These five contactless world changes can catapult them forward today and set them up for future success.

These five contactless world changes can catapult you forward today and set you up for future success.

1. Bolster eCommerce Focus

With social distancing requirements and public nervousness about public shopping, your reduced on-site potential is a matter of cruelly inescapable math: a reduced capacity and less total foot traffic can't help but lower your on-site revenue. Rather than fold and close shop, you can shift some of your resources to eCommerce. The internet remains open for business, and building out your online capabilities now will serve you well.

2. Curbside and Delivery

Whether people are shopping on site or online, getting your products out to your customers creates its own challenge. Contactless delivery options and careful curbside delivery can give you ways to reduce the risk and stress to your customers. As the world becomes more used to the changes they must make, this convenient option will become an expectation. Act now to stay ahead of the curve.

3. Redesign Your Space

If you already must adjust your on-site space for customers in a COVID-19 world, why stop at necessity? Build your space out in a full redesign that takes into account the pathways you need through the store in an aesthetically and functionally improved way. Take the opportunity to improve all elements of in-store design for your customers' health and comfort.

4. In-Store Digital

Contactless shopping can still occur in-store. Many retailers have already begun setting up digital displays and augmented reality options to improve the shopping experience. Digital technology can give customers the immediate information they seek without as many required contacts between customers and staff. You need to maintain sanitation protocols at digital stations, of course, but this can greatly reduce concerns over viral spread in your stores.

5. Contactless Payment Solutions

Finally, if you have been hesitant to adopt contactless payment options, now is the time to do so. The convenience of these options have more customers purchasing with the wave of a card or smartphone, purchasing through apps ahead of arrival, and using self-serve kiosks to complete sales. Some Amazon stores have even eliminated the register entirely. Accepting contactless payments makes your store safer today, and more ready to adapt to a quickly-arriving future.

COVID-19 has thrust several changes upon the retail world. Some businesses are closing because they can't adapt to the situation. If you act now, you can take steps to turn today's crisis into tomorrow's growth model. Work with the contactless requirements in place to build your business toward the future.

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Gigi Beyene
SVP, US Partners
With Nuvei since 2007, as an expert in strategic channel development and partnership management, Gigi’s collaborative techniques and leadership have helped ISOs both launch and grow successful merchant portfolios.

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