The LISNR team is back from ShopTalk 2019 in Las Vegas and we look forward to sharing our insights that we gathered at the conference with you. At ShopTalk we met with retailers from all over the world who came together in the desert to learn about how we can make retail more successful in 2019 and beyond.
One of the biggest takeaways was that shoppers are looking for more frictionless ways to pay. In our presentation on the ShopTalk stage, our CCO and Co-Founder, Rodney Williams, explored how data over audio is changing mobile payments as we know them. Here are some of the key points from his discussion:
- Customers use an average of almost six touchpoints when buying an item, with 50% regularly using more than four. This means that shoppers have more touchpoints than ever and this leaves retailers with a massive opportunity to make each one count. When retailers can meet shoppers on their preferred channels with personalized experiences— that’s when retail magic happens (in the form of increased sales and profits).
- Retailers understand how important it is to own their payment moments, that’s part of the reason why 62% of mobile wallet transactions are from retailer branded mobile wallets. Think Starbucks: this is one retailer that really gets mobile payments, owns their payment process from end to end, and gets to put all of that customer data to good use.
- To put it simply: QR codes aren’t making the cut in retail payments. Despite their massive popularity in China and other markets, over 23% of Trojans and viruses are transmitted via QR codes. Needless to say, this payment method poses a risk retailers simply can’t afford to take. That’s where payment over sound comes in as a hardware agnostic solution that eliminates the fraud and functionality flaws associated with QR codes.
Retail is at a crossroads where retail winners are veering off to offer shoppers the mobile payment and engagement options they crave. That is compared to retail laggards who are making do with the status quo. Retailer winners already know that the future of retail requires secure mobile checkout and a frictionless customer experience.
LISNR enables personalized payment moments and boosts customer engagement across devices with the help of our ultrasonic data technology. Get in touch with our team to learn how we can help your retail business delight customers.