The Retail Hive: Payments

Welcome to your go-to resource hub for payments reports, blog posts & recommended partners for your organisation.
Here you will find insights and advice from our members along with upcoming meetings you can join.

Insights from previous attendees:

The Hive continues to drive innovation in how industry events are run and how to build brilliant peer-to-peer networks across the retail industry. My number 1 industry friend! Thank you!

Head of Digital Marketing & Social, John Lewis & Partners

One of the best events of its kind that I have been to. Engaged, high level attendees prepared to share valuable insights.

Chief Commercial Officer, Asprey

What’s important to you in the payments landscape?

The payments landscape is changing so rapidly and payments has been identified as one of the major drivers of loyalty and conversion, so we’ve put together this survey about payment solutions. It will take you less than 5 minutes to complete and you’ll get an exclusive first view of the results for your own benchmarking purposes, before we approach payments providers to initiate community driven change, ultimately to improve the process for all of our members.

A few takeaways from recent payments discussions:

Address and think about your customers needs instead of implementing something for the sake of it. If it’s not going to work don’t integrate it. But on the flip side if it’s not too hard to implement then it’s worth trying.

Luxury brands don’t want to draw attention to a ‘Buy Now, Pay Later’ model, but this can now be done discreetly in-line with brand values.

As much as we want to implement different payment options, there are challenges with attribution, reconciliation. Saturation of choice can be a bad thing with too many payment providers, although it is a loyalty driver through convenience and speed of transactions. Things like not having Klarna and Apple pay will create friction and be outdated for the customer.

Want to join the conversation?
See our upcoming meetings!

Exchange
Luton Hoo, Hotel Golf and Spa
16-17 September 2021

Retail Innovation
Midtown Loft, New York
5th October 2021

We thought you might be interested in taking a look at these:

Report: Delivering High Touch Customer Experiences

Payment Experience as a Loyalty Driver

Blog: Why Alternative Payment Methods are not an Alternative Anymore

The Evolving Role of Payments

Hive Recommended Partners:

Our recommended partners offer services which will help you buildout the best fulfilment capabilities, to unlock new fulfilment opportunities and ensure your supply chain is agile and flexible to withstand the modern day omnichannel demands for retail businesses.

Have a browse at the below partners, recommended by your fulfilment peers.  For each you have the option to learn more from a Retail Hive member using that solution, so you can hear an unbiased view before you commit to anything.

Menu