The Future of Retail: 3 Predictions for What’s to Come

shj120616_retail_future_in_america_blog1 in 3 online retail transactions happen on a mobile phone (source). Consumers are flocking to the convenience of online shopping. For example, Amazon Prime gives consumers free two-day shipping on purchases and some apps provide same day delivery of items.

We’ve seen major retailers, Sports Authority for example, experience difficulty when faced with online competition. Will this trend continue or will brick and mortar find a way to survive? With the prevalence of online shopping, what will retail look like in the future?

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Cash Isn’t King, Mobile is: An Overview of New Payment Methods

shj102416_cash_is_king_payment_methods_blog_imageTechnology has created a wide range of ways for businesses and individuals to accept and send payments. Has your son or daughter recently asked you to “Venmo” them? Are you concerned when farmer’s market vendors swipe your card on their phone? Today we cover some of the most common payment types and how to use them.

*Disclaimer – Sharkey, Howes & Javer does not endorse any of the following products or services. This post is for informational purposes only.

Mobile Credit Card Readers
Mobile credit card readers, such as Square, have been widely successful. These readers offer the ability for anyone to “set up shop” at little to no cost. The card readers plug into the headphone jack of a phone and connect to an app. Instead of charging a flat fee per transaction, these readers simply take a small percentage of the transaction, usually 2.9%. Readers like Square allow small businesses to accept credit cards on the go.

Just like a regular credit card machine, your information is transmitted to the processor over the internet. The risks of using a credit card on a mobile reader and in your favorite big box store are virtually the same. Continue reading