Inflation impacts everyone, from consumers to businesses to decision makers. And unfortunately, it’s continuing to rage at a 40-year high. Merchants will feel the impact of inflation in several ways, from growing overhead and inventory costs to trying to keep up with cost-of-living increases for their employees.
Whether we like it or not, the evolution and use of consumer technology continues to impact how consumers engage with brands and make purchases. Think about your smartphone, for example, who would have thought 15 years ago that we’d be using it to make both online and in-store purchases? While much of the technology consumers use every day was destined for the retail world eventually, the COVID-19 pandemic played a critical role in catalyzing the use of many technologies.
Ever since Mastercard announced its efforts to make contactless payments even more secure the industry has been buzzing with questions. From what the technology is to how it will benefit the industry and the players in it. Even though Ecos is in its early stages, it is important to have these conversations and better understand how it applies to everyone from the merchant to the end consumer.
