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Retailers say payment-over-time solutions important for digital innovation

Thursday 7 December 2017 | 01:59 PM CET

Research from Econocom UK has revealed that 95% of retailers believe that payment-over-time solutions are important for future digital innovation in retail.

The research, conducted on behalf of Econocom by survey consultant Censuswide, polled 100 key IT, digital and finance decision makers across the UK retail industry.

The study found that 98% of retailers believe in upgrading and refreshing their in-store technology assets in order to continue innovating.

When asked specifically what their digital transformation business goals were, more than two-thirds (67%) of respondents said they wanted to improve customer experience and satisfaction, while more than half (55%) were looking to future-proof their business.

Implementing new technology seems to be a headache for many retailers (60%) due to reliance on legacy IT systems, a lack of funds or staff resources. Just 8% of respondents felt as though there were no barriers to implementation, but a huge 99% of retailers said that a payment-over-time model would make it easier for them to achieve their digital transformation goals.

The survey found digital signage to be the most-desired technology asset among retailers, with 57% of respondents looking to implement it into their stores. Mobile point of sale (POS) systems were the second most-desired technology (48%), followed closely behind by mobile devices (45%).

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