Month: November 2018

The practice of retail therapy is not new. It is something that has existed for times immemorial. BUT it sure is most frequently looked forward to in today’s era. Human lives have become rather more stressful and in order to cope up with the fast paced world one certainly feels extremely worked up. So what actually is retail therapy??? It’s “the practice of shopping in order to make oneself feel more cheerful.”

According to recent survey conducted by TNS Global, more than half of Americans indulge in shopping for uplifting one’s mood.

• It gives one a break from the monotonous daily routine.
• Uplifts mood and bring cheers.
• It helps in building strong social connections. Human connection is also referred to as ‘antidote to emotional distress.’ Thus freeing one from mental anxiety and distress.
• Boosts creativity and aesthetic sense.
• Helps one shop better and dress smarter, which is yet another way of boosting ones confidence level.
• Visualizing oneself in new dress or pair of shoes boosts performance and reduces anxiety.

So be it shopping for an occasion from a mall or simply window shopping or even online shopping, retail therapy does work and work wonders at that. It can really be mental refresher, boosting mood and elevating spirits.

E-Payment or electronic payment system is booming. As we step into the more advanced and highly developed technological era, we are sure to get some great advantages out of it. E-payment is also fruit of the same advancement. It has made lives easier by “making transactions or paying for goods and services through an electronic medium, without the use of cheques or cash.”

It has spread and grown increasingly owing to its more secure feature, ease of use and convenience. As has it been increasing so has it lead to the decrease of cheque and cash-based transactions.

E-payment methods

• Credit payment system which comprises of credit card, E-wallet and smart card.
• Cash payment system comprises of direct debit, E-cheque and E-cash.

Benefits of E-payment

There are countless benefits that this rather new much hyped  payment system offers;

• Increased sales; because of its reach from one corner of the world to another.
• Fast and Efficient; this mode of transaction can be made in seconds through a few clicks.
• Safe and Secure; payment providers offer secure transaction features and installs anti-fraud tools, thus making reliable transactions possible.
• Lower transaction and technology cost.

It is because of these features that online buying and selling of goods and services is thriving. Thanks to the genius minds behind this magical thing.

Trends have changed now; be it fashion or lifestyle or better yet shopping. The shift in the living pattern is more of a result of a boom in the technological world than anything else. The introduction of smartphones, the sudden boom of internet and revolutionization of the digital platform have altogether lead to the changing dynamics on the global front. As have it blessed us with countless things that have made our lives easier, so has it endowed us with a thing of today called cashless shopping.

What is cashless shopping?

It’s a simple technique which frees shoppers from standing in long queues and waiting for ones turn to get the things scanned and then paying the bill at the end. Scan, Pay and Go, as one may call it requires us to have a related app, with an account made on it. Once a person goes for the grocery to any supermarket he just has to scan the phone while being logged into his particular account, shop while scanning the barcodes on the prospective products and finally checkout by few clicks and pay digitally while receiving the receipt in the inbox. That’s how simple it is and that’s how convenient it made the lives of customers.

Benefiting both the shoppers as well as retailers

Not only does it benefit the customers but the retailers as well. This Scan and Go thing have helped retailers in overhauling the buying experience of the customers.

As much as the buyers hate standing in long queues, they love getting things done faster. Surveys reveal that retailers lose customer loyalty owing to the queuing system while on the other hand people prefer queue-less shopping while on the go.

For customers

Some of the advantages that this tremendous shopping feature brings for the customers;

• Skips checkout lines and long payment processes
• Frictionless buying experience
• More engagement
• Less hassle
• Happy & content customers

For retailers

While this app is equally advantageous for retailers by offering;

• Increased sales
• Less staff
• No need of a cashier
• Better and cheaper marketing opportunity through in-app advertising
• Improved understanding of customers’ purchasing data and shopping trends resulting in upping the sales game

It has been observed that customers enjoy this new trend of queue-less shopping while retailers find numerous ways of improving the buying experience. This thing of today can and will most certainly bring further innovation in the shopping world in the time to come.