See what's in store
Shoppers want a retail experience that’s faster, smoother and more personal. Here are six tech trends to help you get (and keep) their attention while growing your business.
your bold future
Six ways to rev up your retail business.
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Digitize and automate the supply chain
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Retail
Monetize data and fuel customer loyalty
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Enable anywhere, anytime, any method payments
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Recognize and reward customer behavior in real time
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Evolving isn't optional
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Drive back-office efficiency through AI
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Tap into the latest payments technology
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DIGITIZE AND AUTOMATE THE SUPPLY CHAIN
Having enough stock on hand while not overspending on inventory is a balancing act for retailers. An automated supply chain offers much higher visibility and transparency than manual processes can. By leveraging automation, you can reduce overall inventory and direct e-commerce fulfillment based on store inventory. You can also satisfy your customers’ expectations for omnichannel retail, whether they choose delivery, in-store pickup or curbside pickup.
Consumer Sentiment in the US During the Coronavirus Crisis, McKinsey, Dec 2021
%
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of U.S. consumers have experienced out-of-stock items, and 32% of those consumers switched retailers
Focus on data and embrace automation: Automation helps break down silos and connect the necessary data to run your business without time-consuming human intervention.
bold action
Bold solutions
Worldpay from FIS has embraced the cloud: Put your data to work with Worldpay from FIS. With smarter insights from data analytics, offering end-to-end visibility across supply chains, you can provide control of inventory and real-time order management tracking. Integrated back-office processes help you boost your front-end customer experience.
bold solutions
Bold action
Leverage data to identify loyal customers, analyze their spending and send them targeted promotion offers. Merchants should be fully responsible for tracking, but your customers should also have visibility, so they know which actions to take to receive the next reward.
Consumers are not as brand loyal as they used to be – but you can reverse that trend. The key is tailoring your customers’ experiences. Traditional rewards programs place the burden of redemption on program members and take a long time to accrue points, leading to infrequent usage. Connecting with your customers on their terms requires integrating loyalty programs into their regular routines and meeting their expectations for immediacy and ease of redemption.
MONETIZE DATA AND FUEL CUSTOMER LOYALTY
Worldpay from FIS offers personalized experiences created by actionable insights from our data-driven loyalty and rewards solutions.
"Digitally transformed operating models will support long term growth and success." – Jason Baldesare, VP, Enterprise Strategy, Capital Markets, FIS
three Reasons Why Digital Operating Models Are the Future
NEED video or stat
McKinsey, Next in Personalization 2021 Report
of consumers are more likely to make repeat purchases from companies that personalize communications
If your checkout process is too long or inconvenient, shoppers will end their experience with you on a sour note – or worse, abandon their merchandise and leave. Make it fast and easy by empowering your customers to pay via their preferred method. Digital and mobile wallets are on the rise and offer consumers convenience, speed, security and safety when shopping across all channels and borders. Buy now, pay later (BNPL) is also growing online and moving to the point of sale, offering shoppers the option to buy now and pay later for their purchases either in full or in interest-free installments.
ENABLE ANYWHERE, ANYTIME, ANY METHOD PAYMENTS
Empower your customers: The increasing uptake of digital currencies and consumers' desire for easy fast payment experiences means you must operate an All Currencies Welcome model, accepting payments in multiple ways.
FIS 2022 Global Payments Report
is the amount BNPL is projected to grow its transaction value share of regional e-com by 2025
$
B
If you have EMV terminals in your store, you likely already have the capability for contactless payments – you just need to enable them. Text-to-pay and app-based payments are also fast, secure and frictionless for customers. Talk to the experts at Worldpay from FIS for solutions.
RECOGNIZE AND REWARD CUSTOMER BEHAVIOR IN REAL TIME
Today’s customers – especially younger generations like Millennials and Gen Z – expect to be rewarded instantly for shopping at their favorite brands and to be able to use their rewards immediately at the point of sale. With real-time redemption, shoppers no longer need to count or track rewards points, but instead enjoy a frictionless, instant discount at checkout on an everyday purchase. You can surprise and delight loyalty members by offering them the choice to redeem points at the time of purchase. For instance, after they swipe or tap their eligible card, a prompt on the card terminal may ask the shopper if they want to apply eligible points for a credit of $5, $10 or another denomination. Another way to innovate the process is by using a customer’s payment card as their loyalty program identifier, so that simply paying with a known card identifies that customer as a loyalty member. Removing the need to provide a separate loyalty card or ID is a small convenience that has a big impact on customer experiences.
Capitalize on new growth opportunities: Embrace technology that supports ESG legislation, data and risk analysis, enabling you to drive your ESG initiatives forward.
FIS can help
FIS has embraced ESG: Our solutions provide meaningful ESG insights you need to consider the most appropriate risk measures against the background of impending regulations. Our technology allows you to slice and dice data for smart climate and sustainability risk management.
Ulf Füllgraf, Managing Director, Alpha Centauri Investment Management
Broad ESG and climate change considerations have no economic investment value of their own. Given individual values, principles and beliefs on one side, and economic materiality on the other, ESG information should be seen as an added component to investment decisions, not as a sole driver.
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"ESG data providers are driving the need for industry standards." – Tony Warren, SVP, Capital Markets, FIS
What’s Next in ESG
2021 FIS Generation Pay Report
of consumers say it’s important for them to earn rewards automatically
The number of payment types is continually expanding, and your customers are demanding choices. Cryptocurrency users are looking to transact with the currency they’ve accrued, and cryptocurrency will soon find a home with other alternative payment methods that retailers are accepting to build revenue and foster customer loyalty. What else can you expect for the future of payments technology? Think checkout-free “just walk out” technology, smart device commands, biometric authentication, drone delivery, virtual and augmented reality integrations and in-car integrations.
TAP INTO THE LATEST PAYMENTS TECHNOLOGY
Capitalize on new growth opportunities: Tap into crypto and digital assets securely, and get an easy head start on your transformational journey – from day one to full maturity.
FIS has embraced crypto: Our solutions help you navigate the bridge between traditional and digital assets swiftly and securely. We simplify the complex with integrated technology and solutions for trading, investment operations and processing, bringing you a frictionless experience.
Mina Khattak, strategic innovation expert at FIS, explains what is driving the growth of web 3.0 in various business sectors.
What to expect with crypto and NFTs
Artificial intelligence takes back-office management to the next level. AI can help organize and spot trends in data, allowing you to more effectively assign goods and choose the right transport channels. Repetitive, time-consuming tasks such as procurement, invoicing and accounts reconciliation can also be automated with AI. Additionally, AI plays a valuable role in the supply chain. Predictive modeling examines past order data and other factors to forecast future customer demand, helping you place more accurate orders with your suppliers – reducing the extra costs and sustainability impact of over-ordering.
DRIVE BACK-OFFICE EFFICIENCY THROUGH AI
PwC Global Consumer Insights Pulse Survey, June 2021
of consumers say fast/reliable delivery is important when shopping online while 35% state that in-stock availability is important
Address today’s unique market conditions without delay: Leverage machine learning and AI to give you faster time to value.
FIS has embraced AI: Our AI solutions rapidly identify risks and opportunities to address customers’ most pressing needs. We provide a fully integrated no-code solution that extends AI capabilities to your own development organization, meaning you can take advantage throughout your operations.
Let's reimagine the retail experience
It’s a requirement. In the hyper-competitive retail industry, you can only compete by offering an exceptional shopping experience. From the front of the house to the back, technology helps cut costs, reduce checkout times and improve the overall customer and employee experience. It’s time to capitalize on these six trends to grab the attention of shoppers and keep them coming back for more.
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About Worldpay from FIS
Worldpay from FIS® (NYSE:FIS) payment processing solutions allow businesses to take, make and manage payments seamlessly across channels, geographies and industries. Over 1M+ merchants globally utilize Worldpay, enabling them to accept 300+ payment methods across mobile, online and in-store transactions. Offering industry-leading scale and an unmatched integrated technology platform, Worldpay solutions help businesses unlock new opportunities, manage payment processing more efficiently and deliver an exceptional omni-commerce customer experience.
