The most organized source of consumer-financing industry knowledge on the web.

The in-store shopping experience is broken. Can we fix it?

Retailers face a growing 'friction' crisis in-store, requiring a shift toward seamless checkout and accessible high-value purchases.

Physical stores still drive the majority of retail sales, but the customer experience is currently facing a crisis. Shoppers are dealing with frustrating barriers like locked display cases, understaffed floors, and clunky self-checkout systems. For retailers, these friction points do more than just irritate customers; they directly lower conversion rates and reduce average order values. When a customer has to wait ten minutes for an associate to unlock a high-value item, the momentum for a spontaneous purchase disappears. This podcast discussion highlights that fixing the 'broken' store involves more than just better staffing. It requires a seamless integration of technology that assists rather than hinders the path to purchase. For operators, this is a critical time to evaluate how financing is presented at the point of sale. If a customer is already frustrated by physical barriers in your store, a complicated or slow financing application will be the final breaking point that leads to an abandoned cart. The goal for the coming year is to remove every possible hurdle between the customer finding an item and completing the transaction. Successful retailers are refocusing on 'high-touch' service for expensive items while using technology to automate the mundane tasks that currently slow down the shopping journey.

Continue reading →