In this ecommerce podcast, James Gurd and Paul Rogers interview the CEO and founder of in-store payments specialist Mishipay to discuss how their apps help retailers reduce in-store checkout friction.
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Queue abandonment is a common issue for retailers and long wait times frustrates shoppers. Increasingly retailers are embracing in-store digital solutions to increase shopper convenience and boost conversion rate.
Whilst larger retailers typically have invested in technology solutions that enable omnichannel services like barcode scanning and mobile payments, for many SMEs the cost and effort of enabling this on their existing infrastructure is prohibitive. Solutions like Mishipay provide a viable alternative, with a ready-made payment ecosystem that retailers can tap into. In this episode we discuss the benefits on in-store digital technology for retailers with Mishipay’s CEO.
Tl;dr – what we cover
- Common in-store purchase frustrations
- Benefits of digital technology like barcode scanning for retail teams
- Integrations with modern ecommerce platforms
Key Discussion Points
- What’s the current state of retail footfall your customers are seeing: is it back to pre-pandemic levels or are high streets still struggling with volume?
- Your products focus on the in-store digital experience and removing purchase friction; what are shoppers most common in-store purchase frustrations?
- What level of store do you work with? Is it mostly flagships?
- Historically there has been resistance amongst offline teams when embracing digital tech due to the fear of ecommerce cannibalising sales; how does barcode scanning benefit the shopper and impact store sales?
- Shoppers order directly from your app; you integrate with ERPs like SAP and MS Dynamics and POS like Shopify and Woo but what other ecommerce platforms do you have proven connectors for?
- You state that retailers are seeing ROI within 3 months via 14-35% increase in revenue via the app vs. store tills: how do you measure this and how do you know it’s incremental and not substitutional?
- How does your pricing model work?
- How is stock reconciliation handled to ensure stock files are accurately maintained?
- How integrated is the returns process for items bought via Mishipay but returned direct to a retail store or via a retailer’s ecommerce website returns portal?
- Where’s the tech headed: what’s in your roadmap and how soon will it be available?
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