This month’s NRF event is turning the industry spotlight on North America. With retail sales valued at seven trillion dollars, the US is one of the world’s largest markets and home to many of its biggest brands. With hundreds of thousands of independent retailers and a thriving store-based ecosystem, it’s a market that’s full of opportunities for checkout innovation.
Stores remain a big part of US culture – even for the digital generation
There are currently over a million US stores and, despite the demand for uber-convenient e-commerce, US consumers still want to capture the fun and social experiences of shopping in person. One recent study revealed that nearly 2 in 3 (61%) Americans want to see a revival of traditional shopping malls, with Gen Z and Gen X wishing for it more than older shoppers.
While lots of American stores focus on selling specific products e.g. fashion, many are classed as general merchandise, selling everything from apparel and electronics to homeware and furnishings. Including department stores, dollar stores, and big box retailers, these generate around US$ 852 billion and represent the biggest shopping sector in the US.
So what’s important to US retailers?
Whatever they sell, America’s physical retailers face a constant balance between managing ever more complex operations, controlling costs and delivering the best customer experience. And they all need cutting-edge point of sale (POS) solutions tailored to their needs and which are designed to help them attract and keep customers.
Convenience stores, department stores, and malls are increasing their efforts to enter digital channels and provide a fully integrated experience. NRF surveys show that over 50% of US retailers currently offer, or plan to offer, ship-from-store capabilities. In addition, almost two-thirds of retailers currently offer or plan to offer buy online and pick up in-store (BOPIS).
Meanwhile, many multilane and food stores are looking for unattended payment solutions to deliver fully automated self-service. According to a recent study, 84% of US consumers have already embraced self-service kiosks, with 66% even expressing a preference for them over staffed checkouts.
As well as connected and automated services, US retailers want POS to provide:
improved mobility and usability, to secure payment acceptance and to speed and streamline the transaction process wherever their customers are.
better store management with POS that includes barcode scanners and large touchscreens to combine payment acceptance with inventory and in-store management functions.
resilient and modern POS devices that can be relied on to guide customers through a transaction quickly, however, they want to order and pay – whether by contactless card, digital wallet, QR code or increasingly buy now pay later (BNPL).
low friction and high transparency so display, signature capture, agreement acceptance, and marketing messages are as simple and clear as possible, at every interaction point.
Empowering US retailers for success
At Castles Technology, we aim to open new ways for US businesses to accept all types of payments with more emphasis on mobile solutions including app-based options like SoftPOS that provide modern phone-based card acceptance at low cost.
We understand that the lifetime cost of ownership of secure payment devices is also a key requirement, especially for American retailers and hospitality businesses with large multi-venue, multi-state estates.
Here, solutions like our CasHUB platform can help them reduce complexity and optimize resources with features ranging from asset management to remote key injection, real-time diagnosis remote support, and interfacing with enterprise systems.
We also pride ourselves on our ability to deliver world-class tech and local support. Over the past years, we have built a strong foundation and an exceptional team in the North American market. Our American merchant clients rely on us to deliver advanced, reliable payment acceptance solutions with local warehousing, shipping, repair, and returns.
Discover how Castles Technology can improve payment acceptance, visit us at NRF 2024 at booth #4783.