Payment integration helps retailers prepare for increased sales activity
November 15, 2013

The end of the year may be an especially good time for small and medium-sized businesses in the retail industry to invest in integrated payment systems that make it easier to organize transaction information from multiple channels. According to recent data from the U.S. Department of Commerce, wholesale inventory numbers measured substantial increases during Q3 2013. Reuters said much of this growth has to do with the fact that retailers are stocking up their shelves more frequently than in previous months.

The DOC's report found wholesale inventories rose 0.4 percent in September, which matches the results from a forecast poll conducted by Reuters. In addition to an increase in available supplies, the overall gross domestic product expanded at a 2.8 percent annual pace between July and September.

Bloomberg Businessweek said the fact that retailers around the U.S. are stocking shelves in their stores with more vigor than in previous months bodes well for future economic activity. For instance, these trends indicate stores are likely preparing for an increase in consumer spending during the upcoming holiday shopping season. If Americans do end up purchasing more goods this year than in previous years, growth may even continue well into the future.

Investing in payment integration services is an effective way for businesses to prepare themselves for future improvements in economic activity. As stores increase their sales from both brick-and-mortar and e-commerce channels, it can become challenging to organize such a wide variety of transaction data. Without the right technology, many of these companies run the risk of mismanaging financial information or counting transactions multiple times. With an advanced integrated payment system, stores can experience all the benefits of an economic expansion without worrying about the possibility of losing track of valuable sales data.

Nexus: G-WEBCD2