More Mobile, More Problems?

It’s been a great night out with friends. You’ve enjoyed good food and some laughs. Then the bill arrives. After some mental (or scribbled) math and some uncomfortable chatter (or silence), you’re handing the waiter a check cover filled with six pieces of plastic and requesting change for two $20 bills. As the use of smartphones continues to increase – an estimated 56% of American adults are adopters as of June 2013 – retailers and restaurateurs will be afforded new opportunities to replace this awkward moment with a more efficient and better customer experience. Here are some technologies and trends for merchants to consider in the year ahead:

In 2014, merchants must develop effective business strategies for integrating mobile technology while managing the associated legal risks. Consumers are adopting mobile technology at a record-setting pace – twice as fast as consumers adopted internet technology in the 1990s – so it is not surprising that laws and regulations continue to lag behind the technology. Thus, it will be equally important to understand how existing rules and regulations apply and to watch closely as lawmakers address the novel issues mobile technology presents. In addition, while it is not unique to merchants using mobile technology, companies at the forefront of integrating mobile technology must constantly watch for threats to the security of their customers’ private data. While adopting mobile technology will present retailers with a range of new challenges, failing to address these issues now will result in a much bigger problem – being left behind.

Related topics: Retail, Technology