[WHITE PAPER] Achieving digital transformation in retail: are payment-over-time models and subscriptions the answer?

Achieving digital transformation in retail:

are payment-over-time models and subscriptions the answer?

Retail plays a huge role in the success of the global economy, both in terms of cultural and financial significance. But it’s also an industry that is facing one of the biggest technological shifts in history. With consumers of all ages spending an increasing amount of their daily lives on the Internet, they are naturally making more purchases through online websites. While this is good news for retailers from an e-commerce perspective, it has led many to question the future of high street shopping as we know it. Retailers need to find new ways of reeling people back into their bricks-and-mortar stores.

One answer to this problem lies in embracing digital transformation to deliver an immersive, engaging and personalised shopping experience for consumers that is exclusive to physical retail environments. It is creating a seamlessly connected customer journey that extends across all areas of every store.

However, despite the best intentions of retailers, many fail to achieve their digital transformation goals due to the significant financial investment that is required. This is where payment-over-time models and subscriptions prove their true value. This is, in essence, a model that allows businesses to pay for the assets they desire incrementally over a fixed period of time — much like many of us pay for our mobile phones or cars — which in turn eases the financial strain associated with digital transformation.

But what do the retailers themselves think of payment-over-time models, and do they see them playing a role in the future of retail?

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