Retailers must keep up with shoppers through December
December 17, 2013

Retailers that utilize electronic payment systems may be more likely to keep up with last-minute shoppers during this year's holiday season.

The owners of small and mid-sized enterprises who believe the gift-buying rush begins and ends with the one-two-three punch of Black Friday, Small Business Saturday and Cyber Monday are ignoring the lucrative opportunities available throughout the entire month of December - including Christmas Day. The average holiday shopper rarely expects to complete his or her list as early as possible. In fact, a recent poll from Consumer Reports found as many as 31 percent of American consumers had yet to purchase a gift as of Dec. 17. Forty-nine percent of the 1,500 adults randomly selected to participate in the survey said they weren't even nearly halfway done with their year-end shopping lists.

"Even though this year there's less days on the calendar to get their holiday shopping done, there are still quite a bit of procrastinators out there," Tod Marks, senior editor and resident shopping expert at Consumer Reports, stated in a press release. "The 11 percent who told us they've completely finished shopping already have certainly saved themselves the stress of frantically searching for last-minute gifts."

Stores can maximize revenue from these late season shoppers by investing in advanced payment processing technology on multiple channels. For example, Market Stronger, a blog covering small-business topics, suggested coupons that can be used both at brick-and-mortar establishments and online portals are more likely to entice consumers who are scrambling to purchase gifts throughout the entire month of December. Connecting these separate channels through an integrated payment system will ensure important transaction information is properly stored and secured for later reference.

Nexus: G-WEBCD2