A new age of retail is dawning

What you should know now about the latest technology trends

Retail will change more in the next 5 years than it has in the last 50.

Jörn Leogrande
Executive Vice President, Wirecard Labs

Digital pioneers will emerge stronger from the crisis

Why technology is such an important part of the new shopping experience

As the 2020s begin, the world of retail is on the brink of dramatic changes. Besides health and economic challenges, technological innovations are radically altering this industry. The future of retail is digital―and the future is now. In the current situation provoked by the coronavirus pandemic, digital pioneers are clearly set to make it through the crisis intact while boosting their attractiveness in the fight to win and keep customers.

The findings of an exclusive survey by Wirecards Labs reveal that more and more people around the globe are open to radically new payment methods. They’re excited about approaches like mobile self-checkout and payment authorization by fingerprint or voice commands. While making shopping easier, these innovations turn it into a real experience.

Find out what consumers want by downloading our free report “Retail 2020: The Road Ahead”.

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Part1

Contactless payments are already booming now

The findings of an exclusive study by Wirecard show how the trend toward cashless payments is accelerating as a side effect of the current situation. In the United Kingdom, France and Germany, to cite just three examples, the popularity of contactless payments is surging. More and more people are taking advantage of convenient mobile tap-and-pay solutions. And three out of four respondents indicated that they will continue using this method after the pandemic.

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6 digital megatrends evolving retail

In many Asian countries, the digital transformation is well advanced across industries and borders. Take Singapore, for instance. 90% of the population is online. And use of new technologies is widespread. Wirecard conducted a consumer survey in Singapore and discovered six digital megatrends that will change retail around the world. They include super apps, voice assistants, and a seamless customer experience.

Discover all six megatrends

Data as the currency of the future

Contactless payments have entered the mainstream—but what’s next? Young people in particular are willing to swap data for merchandise and services. However, it depends on which data is involved and how much they trust a company. A recent survey by Wirecard Labs found that consumers are more likely to share fitness and health data information than chats. In the years ahead, this trend will unlock new possibilities for both consumers and companies.

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Benefit from new technologies now

New approaches for a successful future

We’re living in heady times―but they also challenge us. In the new age of digital retail, success will crucially depend on speed, agility, and creativity. Companies that get themselves in shape with innovative new technologies will be better able to get ahead of the competition. If they are clever and adapt upcoming new trends, they will succeed. And technology will help them stay on course.

Digital payment options help you

  • enhance the customer journey,
  • turn shopping into a personalized experience,
  • spot new consumer needs and wishes,
  • respond nimbly to new trends, and
  • prime your business for future growth.

Digital price tags at the POS

Product information, discounts, and self-checkout right at the shelf.
Watch this video to discover how our Smart Checkout solution is revolutionizing the shopping experience:

We offer a broad range of products and many innovations for the retail industry.

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Get the “Retail 2020: The Road Ahead” report now

Wirecard Labs asked consumers worldwide what they expect of retail payment processes and technologies. Download our free report now!