Learn More About the Way Consumers Shop Post-COVID Lockdown and How They Want to Pay for Their Purchases

In 2019, Americans would actually go to a store, shop for a bit, pick out their items, and then stand in line to pay. They would even use cash for their purchases. Services like Instacart, Curbside Pickup, Doordash, and more were luxuries that average Americans would not pay to use on a regular basis. Cash was still king and people were more likely to pay with cash than order anything online or pay with debit or credit.

Then the pandemic hit. It created a lock down, where no one could leave their home. No one really wanted to leave their home. They certainly did not want to go into a retail establishment. More importantly, they wanted to find the best way to pay for items without having human contact with anyone.

Now that we are on the opposite side of the lockdown and the world is reopening, many consumers see a huge benefit in continuing to utilize curbside pickup and contactless payment systems. They find that the convenience is worth continuing. However, what does this mean for your business? Where will this new trend lead? And most importantly, are your systems ready for the changing world of payments?

What Do These World Changes Mean for Your Business?

The small business is usually one of the last to keep up with consumer habit changes. However, these changes are necessary to compete with the big stores. First, people find that they need convenience the way they need groceries. They need the ability to make a quick stop, stay in the car, and move on with their day. Therefore, they want to shop online and pay through an online portal to pick up their goods.

Establishments that cannot accommodate these needs will lose money. Moreover, if they only accept cash, they will continue to lose customers who no longer carry cash with them. Therefore, businesses must find ways to accommodate the shopping habits of their customers to stay in business and compete.

Where Will These New Consumer Trends Lead?

The world is continuing to change. The way people pay for their goods and services are continuing to change. Several companies are even experimenting with biotech that allow people to wipe their hand and make a payment. Forget the phone or a chip card. These people can use their fingerprint or handprint and connect to their payment accounts to make a payment. This process is not only contactless. It allows people to leave home without any credit cards or cash, reducing their risk of theft.

This type of technology is not ready to roll out across the country. However, in a few years, it may be the newest way to pay.

Are Your Payment Systems Ready for These Changes?

While we may not be ready to pay with a swipe of our hand, we are ready to use Venmo, CashApp, or Google or Apple Pay to pay for our goods and services. If your systems are not ready for these payments, you are losing customers and money. Therefore, it is time to upgrade your payment systems. You need to allow for contactless payments to ensure you keep up with the changing times.

If you are ready to update your payment systems, contact the experts at Tanker Consulting Services at 609.922.0201 to learn more about your options.