on the crypto
According to a new Deloitte survey, many US retailers are working to develop and implement the infrastructure needed to accept cryptocurrency payments. In the survey, over 60% of companies surveyed said their customers showed a significant desire for cryptocurrency payment options. Some companies are incorporating cryptocurrencies into their ecosystems in an effort to improve their customer experience, increase their customer base, or simply earn cutting edge brand status. Whatever the motivation, large organizations are showing a real interest in including cryptocurrencies.
The sentiment towards cryptocurrencies
In a recent survey by Deloitte, executives from major retailers expressed their views on the emerging world of digital currencies. The sentiment of these executives is that organizations that incorporate cryptocurrencies are perceived as a competitive advantage. In response to this sentiment, most retailers with revenues over $ 500 million are investing up to $ 1 million to create the infrastructure needed to make cryptocurrency payments possible.
With such a large number of companies that they invest in cryptocurrencies, the retail world could look very different in the next 24 months. Consumers will no longer be limited to a single fiat currency to shop. How will this affect the retail market as a whole?
Cryptocurrencies in retail
Cryptocurrencies are going through a difficult period, but that doesn't stop large companies from recognizing the potential of this market for all types of consumers. With executives from the cosmetics, digital goods, electronic media, apparel, food, transportation services and more sectors seeing the value of cryptocurrencies for their companies, the current cryptocurrency crash could see a recovery in the near future.
The more real-world use cases for cryptocurrency, the more mainstream it will become. If enough large retailers incorporate cryptocurrency into their business processes and succeed, the cryptocurrency market could undergo a rapid turnaround. The major players driving the market recovery could become the next players in the crypto space.
Conclusions
Over 75% of retailers in the US are investing their funds to support cryptocurrency payments within the next two years. Many large companies are vying to be the first to support cryptocurrencies, for one reason or another, and that could change the retail market forever. This development could also have a major impact on the current state of cryptocurrencies, allowing them to emerge from the proverbial pit they have fallen into. As more and more users want to buy cryptocurrencies, the values of accepted coins are likely to increase.
