Retail Innovation Readiness

Retail Innovation Readiness

The consumer services sector is seeing businesses such as auto garages, contractors and entertainment and tourist venues rank lower on the innovation scale than other segments, but no business can afford to ignore the digital wave, as many learned the hard way in 2020. The Retail Innovation Readiness Index, a PYMNTS and AEVI collaboration, explores how businesses of all sizes — specifically those earning less than $5 million in annual revenues — are adapting to the digital age.

Inside the May Study

  • 45 percent of consumer services firms consider innovation crucial to their survival
  • 26 percent of consumer services merchants are “very” or “extremely” interested in smart POS systems
  • 85 percent of small consumer services merchants believe intuitive functionality is a key quality for smart POS systems

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    Retail Innovation Readiness