Cashless society

Retail is far from dead but living on depends on providing customer convenience, says Andrew Byrne, COO of myPOS Europe

The face of retail on our high streets has unquestionably altered beyond recognition. Where it was once common to see Maplin, Toys R Us, Debenhams or Mothercare as staple high street brands, increasing withdrawal of brands’ high street presence begs the question: what’s next and how can retailers weather the storm with tech innovation?

The truth is, retail isn’t dead despite what the doomsayers and jolly headline writers project on the megaphone from behind the safety of their computer screens. The high street is simply going through a period of transition where it’s being forced to move from old models sluggish to change, to a fresher and more dynamic retail experience.

Yet, despite the wealth of innovation taking place in retail, the industry is still trapped in a quagmire when it comes to addressing rapidly changing consumer needs.