Magazines Archives - 2007 June

SHOPPING is getting increasingly convenient for consumers who, according to a report released by inter-national food-and-grocery industry expert IGD, can expect to see growing development in electronic payments and ordering over the next five years.

Convenience shopping is becoming more complex as operators evolve to meet changing consumer priorities, said Adrian Williams, senior business analyst and author of Clobal Convenience Report 2007.

While research by UK-based agency YouGov has indicated that 75% of con-sumers in the UK are not happy with the concept of a cashless society, retailers in Japan have started paving the way.

“Technology,” said Williams, “has the potential to redefine convenience retailing, which is great news for consumers and presents signifcant opportunities for retailers nimble enough to keep pace.”

In Japan, most convenience stores have options that do not require cash or the authorisation of bank cards. In 2004, a major Japanese telecom operator enabled its Osaifu-keitau mobile phones with contactless cards. This has allowed the phones to used for credit-card payments, membership identification and airline ticketing.

In the UK, Mid-Counties Co-op is trying out biometric finger readers linking fingerprints of shoppers to their debit or credit cards. All the customer needs to do is press a finger against the reader, making the verification process 20% faster than for chip or pin entry.

Other countries such as the US, Taiwan and Singapore have also adapted various systems that allow customers to enjoy the convenience of electronic payments.