(PRWEB) April 09, 2013
Showrooming, the practice of trying out merchandise in stores and then buying it online, is pushing bricks-and-mortar retailers to invest in their online capabilities, but, more surprisingly, is prompting online retailers to set up physical locations to compliment their virtual business model, says Parry Rosenberg, Vice President of Sales at MONEXgroup, one of Canada’s leading payment processing providers.
According a recent article in The Economist, online sales are reaching $200 billion a year in North America; the National Post, however, states that while this figure represents a clear shift in how many consumers are shopping, a growing number of retailers are finding that a blended bricks-and-clicks approach that balances the convenience of online shopping with the emotional connection that can only come from an in-store experience is the best way to engage today’s consumer.
“We at MONEXgroup have seen the bricks-and-clicks approach grow in popularity among our Canadian merchants,” says Parry Rosenberg. “Today’s retailers have begun to realize that there is significant overlap between online and offline shoppers and they have begun delivering holistic, omni-channel solutions to elevate the customer experience while creating new sources of revenue for the company.” The Monex Group VP cites Canadian-based online retailer, ClearlyContacts.ca as a prime example of the latest Canadian company to embrace this strategy.
Similarly, electronics retailer giant, Best Buy has made significant investments in its eCommerce capabilities as a way to provide a more interactive shopping experience for its customers. Upgrades include product recommendations based on a customer’s previous buying history and search capabilities that are more consistent across devices. Best Buy is also streamlining its operations, allowing employees to focus on service rather than selling.
While actual results from this new model remain to be seen, it’s clear that as the Canadian retail space becomes more competitive, brands that recognize and respond to how buying behaviour is changing will remain relevant and successful.
MONEXgroup is the leading independent provider of payment processing services in Canada. Its solutions include: branded debit and credit terminals (POS) and e-commerce solutions. MONEXgroup serves over 10,000 retail merchants across Canada in all market segments, including: restaurants, retail, business-to-business, professional services, and leisure and hospitality.
For further details on this announcement or MONEXgroup’s products and services, please contact:
Melissa Mayhue, Marketing Communications Manager
866 286 7787