Examining COVID-19's Impact On The Delicate Balance Between Cash And The Retail And Hospitality Industries

A conversation with Robert Banker, APG Cash Drawer

Robert Banker, Director of SMARTtill and Partner Sales at APG Cash Drawer, is a retail technology veteran with extensive experience in solution sales of retail technologies. Before joining APG, Robert led the sales efforts around a variety of software solutions for companies including Toshiba Global Commerce Solutions, IBM, and Tyco Retail Solutions. Robert spoke with VAR Insights about the impact the COVID-19 pandemic will have on the retail and hospitality industries, as well as the future or cash, contactless payment, and cash drawers.

Q: When the year began retail growth projections were very optimistic, but the COVID-19 pandemic changed that. With that in mind, what do the next 6 months look like for the retail industry?

Banker: I would expect a slow recovery as more retailers open for business and people look to expand their daily activities to include more shopping trips. A large percentage of the population including the “at-risk” groups will be more hesitant about taking unnecessary shopping trips and might opt more for online shopping. The wild card in the equation is the discovery of a vaccine and/or a cure for COVID-19, which would get people back to their previous levels of activities. A second wave or resurgence in cases would also set back retail’s recovery.