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By Andrew HOWELL, Global Marketing Director, K3 Business Technologies
In just twelve months the retail sector has changed beyond recognition. Consumers have balanced shopping requirements with safety, meaning buying behaviours have been reshaped. As a result, online retail spend rose from 20% of all sales in January 2020 to 36% of all sales in November 2020. We also saw a shift towards self-service and contactless options within bricks and mortar stores. For example, contactless payments have increased by 30% since the outbreak of the pandemic.
But the UK is unlocking; non-essential shops have reopened and are trying to capture footfall. To be successful, they need to recognise that payment options are critical to winning back the hearts and...
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