Pro Tip: Retail is no longer about selling goods to consumers, but creating an ecosystem around them as an individual through multiple services, experiences and touchpoints. Personal financial well-being goes hand in hand with the consumer’s ability to spend across retail categories, and bringing that experience to consumers in a unique way can benefit both parties.
Ways that financial well-being can be utilized across retail:
- In the grocery space, grocers can partner with in-store credit unions or banks to provide upgraded services or programming to shoppers.
- Improved financial literacy efforts across retailer-based credit card programs & BNPL services offered to consumers beyond just discounts and payment options.
Consumer focus on well-being extends across product categories and even retail sectors — widening now to the financial sector as banks rethink older, transactional models and shift to concepts that inspire personal progress and financial well-being.
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