29 Jul Retail Digital Transformation is on the rise in Australia
The digital movement has had a significant impact on Australia’s retail landscape, especially with intense competition from online global marketplace giants such as Amazon and Alibaba. The influx of new digital information has transformed the way every day Australians approach their purchases. The nation is moving towards a cashless society, and more businesses are adopting tools like digital data collection to gain critical customer insights. Mobile reward applications such as Loyalty app assist to retain customer loyalty and streamline the purchasing process.
Digital transformation has changed the way retailers approach their business model, prompting them to steer away from competing purely on a competitive product price level. Instead, businesses must be more customer oriented by using data collected from consumers to gain critical insights into their wants and needs according to individual demographics. Loyalty app understands this is a crucial marketing tool for merchants which is why the program provides software to help merchants track users spending habits and behaviours.
The convenience of not having to withdraw and carry physical cash around continually is a strong incentive for consumers to pay with digital tools. This cashless payment trend is not only significant in Australia but worldwide as shoppers in China are making almost all their payments through mobile wallets and We Chat payment programs.
Retailers need to be aware of this digital shift and implement the use of technology to stay competitive in this evolving industry. Loyalty app is at the forefront of the digital transformation providing services such as cashless and cardless payment, digital advertising tools and a user-friendly program that helps merchants track their customer data.
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