The world of retail is evolving rapidly and the way we think about the retail store is changing as online trading continues to grow, albeit from a relatively small base. The NRF 2019 show demonstrated new ways to improve customer service and grow in-store trade. There is no doubt that developments such as interactive changing rooms, enhanced personalised marketing solutions and increased use of robotic technologies will all have a part to play, as will improvements to the product chain, but are we missing something more fundamental - something that is a current burden on profitability and for which there is a solution readily to hand? I refer, of course, to the processing of large volumes of payments.

There is no doubt the way people pay is changing, but there is a danger of exaggerating the speed of this change and of using this flawed logic as a reason for delaying investments that will make a change now. Those that underestimate the continued importance of cash do so at their peril. In a highly competitive market, keeping cash moving will impact the bottom line and give you an important competitive edge.

Why is cash still important? The latest figures show that cash accounts for around 30 percent of payments in the US. That's a higher percentage than debit or credit card payments. Cash remains the most used payment method in the United States. Indeed in March 2017 it was reported that 24 percent of US citizens made all their purchases using cash. According to pymnts.com's Global Cash Index 'cash usage has remained relatively steady since 2003, ranging between 14.3 percent and 15.5 percent of GDP'. It is forecast that it will still represent 11.2 percent of GDP in 2021.

Processing cash payments is a current issue for which there is a proven solution, and GLORY leads the way.

Tests in the market, across multiple countries and retail segments suggests that investment in Glory's CASHINFINITY^TM solutions is likely to deliver a return on investment in two years - often much sooner. Savings in personnel costs, reduced or eliminated losses and reductions in CIT requirements free into greater store profitability.

That's not all. As our many cases studies show, the adoption of Glory's cash recycling technology is not just about cost savings, it's also about enablement. Cash recycling at the POS and in the back office have implications for customer service, security, staff morale and revenue generation.

When you’re planning for the future don't ignore the present.