How to Build a Successful Retail Business

GURUS Cloud Connect

It is a massive struggle for a retail business to find the right balance between marketing and selling their products on e-commerce platforms like Amazon, eBay, and Google, and within traditional brick and mortar stores.

The questions that arise are: Why are brick and mortar companies failing? Can brick and mortar co-exist with online alternatives? 

Watch this snack-sized video, featuring VP  of Sales at Cardknox, Mark Paley, to hear about how payment solutions are evolving with Apple Pay, Crypto-pay, EMV, etc., and how industry leaders, like Amazon, conduct their businesses using a hybrid model.

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Video Transcript

Athen: I don't know if you heard about this, but a little while back Amazon released actual brick-and-mortar stores where you go in and you basically pick things up and it transacts your payment automatically by the time you leave the store. 

I thought that was a really cool concept when I read about it, and it really gave me some insight into where payments and the user experience is heading. What are your thoughts about that?

Mark Paley: One of the most incredible things is we work with a software for grocery stores, and to me, it was shocking that they offer an online grocery experience. Not that they offer it but that people actually use it. 

And because I can't imagine having someone else pick out my tomatoes for me and I was talking to this developer and I said to him, “I mean do people really do that?” and he said, “You'd be shocked.” 

Because the stores actually pick out the best of the best because they want to ensure a repeat customer experience, they want to ensure a seamless customer experience and it's incredible. 

The customer experience is definitely central to that and I think we're going to continue to see innovations to assist the customer with the greatest experience.