Demanding customers create both risk and opportunity for retails and service providers
A new report based on research conducted by Censuswide on behalf of IoT connectivity specialists Wireless Logic highlights that service providers can help retailers stay competitive by recommending the right IoT solutions backed by ultra-resilient cellular connectivity.
Conducted last month amongst a sample of 1,224 UK respondents, aged between 16-54, the report illustrates that consumers increasingly expect goods and services to be ordered and delivered quickly and conveniently, for example with food deliveries, driving the need for resilient online connections across the retail sector.
The report focused on three distinct use cases – point-of-sale (POS) terminals, vending and last mile delivery, all areas where IoT is making a real impact on the retail experience.
With regards to point-of-sale (POS) terminals it was found that credit and debit card transactions have become the de facto choice of payment, with 38 per cent of respondents citing contactless/chip and pin as the payment method they use most often. If the preferred payment method was unavailable online, one in five respondents would find an alternative retailer, whilst instore 21 per cent would blame the retailer if a card machine was available but it was not working when payment was attempted.
Vending machines were also examined as a fast growing area of retail and found that almost half (46 per cent) of consumers agreeing that there should be more options to purchase goods through vending machines in the UK due to greater convenience (53 per cent of respondents), accessibility (45 per cent) and friendlier operating hours (33 per cent).
For last mile delivery, such as takeaway food, expectations are especially high. Consumers are on average willing to wait 35.14 minutes from order to delivery and expect traceability to have confidence in the service. The importance of delivery tracking information rises with purchase value and perishability, as consumers are most concerned with the traceability of electronics (87 per cent), white goods (86 per cent), and food and perishables (86 per cent).
Oliver Tucker, Co-Founder and CEO, Wireless Logic said “At Wireless Logic, we understand the trends shaping today’s retail sector. The research is clear – and to meet these high customer expectations of speed and simplicity, retailers need resilient and secure cellular connectivity for their online services. Without it, they may lose orders and revenue or even suffer damage to brand reputation.”