Customer experience can be improved with mobile payment methods

Retail businesses might be losing out on sales, customer satisfaction and loyalty because they aren't offering customers the most efficient payment method, according to a new study by Aislebuyer.

Retail businesses might be losing out on sales, customer satisfaction and loyalty because they aren't offering customers the most efficient payment method, according to a new study by Aislebuyer. Almost 40 percent of shoppers reported abandoning products when shopping in stores because of long lines at the register. If there isn't a register available when they're ready to check out, at least 20 percent will leave without purchasing merchandise.

Key results from the survey indicate that more than half of shoppers hate waiting in lines at grocery stores and mass merchants. Others reported waits at drug stores (29 percent), club stores (26 percent), and quick service restaurants (27 percent) left them feeling dissatisfied.

"Giving these shoppers another way to pay - without having to wait in line - will increase the likelihood that they will ultimately purchase something in the store, rather than abandon the purchase due to frustration," said Andrew Paradise, the CEO for Aislebuyer. 

In fact, the report showed that 64 percent of consumers are interested in using smartphones to scan products while shopping to get pricing and product information, and 60 percent said they would use phones for payment if it meant avoiding long lines.