The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreMay 2013
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The role of the retailer in the payments ecosystem is evolving quickly, due to an ever-changing payment landscape, as well as the rise of new technology that can be used to enable payments, and macro trends in retailing such as the expansion of modern retail formats and growth in e-commerce.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
The state of the card market and the ever-changing payment landscape, as well as outside factors like the advancement of technology, are providing opportunities for retailers to move beyond their core product offerings.
Retailers are taking advantage of the enormous ability of new technology like smartphones and tablets to connect to the consumer both before, during and after the sale.
While the in-store retail process has remained largely unchanged for years, retailers, consumers and payment executives now find themselves in a brand new world thanks to the rapid proliferation of new technologies, such as the smartphone, tablet, NFC chips, QR codes and cloud computing.
Besides the impact on the consumer-merchant relationship, mobile devices – and technology, in general – have been the catalyst for an entire revolution in the consumer payment experience. Consumers can now use these devices to initiate payment at the POS terminal, in the aisle or while on the go.
Besides selling core products, retailers may also offer financial service products of their own, or by partnering with financial services providers to do so. In addition, retailers have developed their own propriety mobile payment systems and card products that circumvent the traditional card infrastructure.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.