One of the most popular trends today in online retailing is customers buying online and picking up in-store, a practice referred to, cleverly, in the U.K., as “click and collect.” In fact more customers are asking for the service from the retailers they most often frequent. It’s a hybrid shopping experience: Customers can purchase an item anytime anywhere and then pick it up at their convenience at the retailer. Using this delivery model, a retailer can cultivate a convenient, streamlined image to the busy consumer; in addition, some stores are quite adept at drumming up related sales — upselling — at the time of pick up.
Apple Pay rolled out last month just in time for the holiday season and the flurry of purchases that accompany it.
According to Apple, more than 10 million iPhone users are able to make purchases at 220,000 U.S. retail locations using Apple Pay. Though Walmart, Rite Aid and CVS have rejected Apple Pay in favor of the yet-to-launch CurrentC, reports from Whole Foods that more than 1 percent of transactions are made with Apple Pay indicate that the newest digital wallet is already changing how Americans shop and buy.
Addressing customer concern over recent high-profile data breaches, Apple pay uses a combination of physical security and tokenized account processes. When a consumer uses Apple Pay, a temporary account number, advanced encryption chips in the phone and the customer’s fingerprint are all used to complete the purchase.
Focus on Innovation
Today’s top innovations are tomorrows acquisitions or industry standards. Of course we know it does often work out that way. Nevertheless all these companies are displaying technology that could be around for some time to come. I focus on innovation first, for this is what moves, alters or disrupts markets.
Even incredible invention without resources may never turn into actual innovation. Climbing the mountain from invention to innovation requires first a creative, relevant and useful product to build, then hard work put in by a talented team, which requires ample capital, connections and timing. All of these companies deserve consideration for investment in, acquisition, a partnership or becoming a customer of their technology.
If you made it to Money2020 or not here’s a handful of gems I found there. I may have missed a few. You know who you are. If you did make it to Money2020 you may have been too busy, focused on company agenda, to discover much innovation. O.K. enough banter, let’s roll.
Apple Pay has a fight on its hands it seems. Drugstores CVS and Rite Aid have disabled the tech giant’s new digital wallet service in its stores, according to reports. Both retailers are part of a consortium of merchants who plan to offer their own payment system, CurrentC. Developed under the Merchant Customer Exchange (MCX) consortium which includes Walmart, Target and Gap as well as CVS and Rite Aid, CurrentC is positioned to rival Apple Pay and Google Wallet. It seems the battle for customers’ digital wallets has begun.
A new survey from retail technology company POPcodes has found that 86 percent of consumers who order products online and pick them up in store want to avoid shipping fees. The poll of online shoppers conducted by POPcodes, which offers a cloud-based platform that integrates e-commerce systems and in-store payment terminals through a redemption code … Read more
A retail technology startup launched at the Money 20/20 conference has developed an omnichannel redemption solution that enables customers to purchase products online and pick them up in store.
POPcodes, a Canada-based company led by North American retail executives, bridges the gap between ecommerce and physical shopping by giving consumers a code when checking out online, which they can then use to redeem purchases or promotions at the cash register.
Because POPcodes integrates with existing ecommerce platforms and in-store point-of-sale systems, it supports the entire “clicks to bricks” customer journey.
By entering their verified phone number and three-digit passcode – their personal POPcode – when in store, customers using POPcodes can redeem an online order or generate a proof of promotion at any participating location without having to print out their order confirmations or showing a photo ID.
Through POPcodes’ online API, merchants can create a proof of purchase or proof of promotion that sends data related to the consumers’ online transaction or registration for an online promotion to a variety of function-specific POP templates. These enable merchants to send a range of content (including location data, product and pricing information, product suggestions) for display and also for in-store output on demand.
There is a multi-trillion dollar gap between the online and physical shopping worlds – and POPcodes, officially launched today at the Money 20/20 conference, looks to be the bridge.
The way POPcodes works is customers get a simple and secure code (typically online although they could be used in offline collateral as well) from participating retailers and are able to use that code to redeem purchases or promotions in-store, either when at the cash register or through any in-store device connected to POPcodes (like associates using iPads or at an in-store kiosk).