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Lloyds: Adapting to changing customer behavior a top priority for nine in ten retailers

Thursday, May 07, 2026 — 16:42:44 (UTC)

Adapting to changing customer behaviour is now a top priority for nine in ten retailers

New Lloyds research reveals how rising expectations around speed, convenience and flexibility are reshaping retail and why payments now matter well beyond the checkout

London, UK – 7 May 2026: New research from Lloyds reveals that 91% of UK retail business owners and decision-makers say adapting to changing customer behaviour is now a top business priority, as retailers face growing pressure to deliver faster, easier and more flexible experiences, both in-store and behind the scenes. The new report, More Than Checkout: The Role of Payments in Retail in 2026, explores how changing customer expectations are reshaping the retail sector, and why payments now play a far broader role than simply processing transactions.

Based on a survey of 1,000 UK retail business leaders, the report finds that retailers are managing pressure from two directions: what customers expect at the checkout, and what running the business efficiently demands behind it. Speed, payment flexibility and easy checkout are front of mind for shoppers, while reporting, cash flow, system integration and operational resilience matter just as much for the people managing the business day to day.

Key findings from the report include:

91% say adapting to changing customer behaviour is now a strategic priority 84% say their expectations of payment providers are higher than two years ago 80% say accepting all major cards and wallets is important to day-to-day operations 77% say checkout speed is important to daily trading 77% say integrated reporting and reconciliation is important to operations 46% say customers now expect mobile or flexible checkout options 44% say faster access to funds will become a competitive necessity

Five major shifts shaping UK retail in 2026:

Every second now counts: Speed is critical across the entire customer journey, from service and fulfilment to checkout and issue resolution. Retail is judged by how easy it feels: Customers increasingly weigh convenience, service, fulfilment, price and checkout together, raising expectations for frictionless experiences. Checkout is becoming flexible, not fixed: Retailers are expanding beyond traditional tills, blending fixed, mobile and in-aisle payments to meet changing customer needs. Retail now depends on systems that perform: Payment reliability, integrated systems and provider support are becoming essential to keeping businesses running smoothly. Payments now influence far more than the checkout: From managing customer flow to protecting cash flow, payments are now embedded in how retail businesses operate day to day after the checkout.

David Thomasson, Managing Director, Business Transaction Banking, Lloyds Banking Group, said: “UK retail is entering a phase where speed, simplicity and flexibility define competitiveness across the entire customer journey. Payments have moved from a point‑of‑sale function to core infrastructure, shaping everything from customer experience on the floor to operational performance and cash flow behind the scenes.”

The report highlights a growing divide between retailers that are simply keeping up and those investing in stronger operational foundations for the future. For smaller businesses, simplifying payments can ease admin pressure and protect cash flow. For larger retailers, integrated payment systems increasingly support consistency, scalability and performance across multiple sites. Those best placed to keep pace will be the retailers that treat payments as part of how they run the business and not just how they close a sale. The report sets out what this looks like in practice, from the shop floor to the back office.

The full report is available now: More Than Checkout: The Role of Payments in Retail in 2026. ENDS

Notes to Editors This report is based on independent research conducted by Censuswide among a sample of 1,000 UK business owners and founders in small and medium-sized businesses with up to 249 employees. Respondents were decision-makers involved in company payment processes and business or IT decision-making across finance, operations and technology functions. Fieldwork was carried out between 20 February 2026 and 3 March 2026. Censuswide is a member of the Market Research Society (MRS) and the British Polling Council (BPC), and a signatory of the Global Data Quality Pledge. Censuswide follows the MRS Code of Conduct and ESOMAR principles.

About Lloyds Banking Group Lloyds Banking Group is a UK based financial services group. As part of the Group, Lloyds Merchant Services offers leading end-to-end payment acceptance solutions. We help businesses from all parts of the UK, and across all different sectors and sizes, giving them the support they need to take payments online, in store, or over the phone at any time. For more information on how we help businesses to receive payments please visit: www.lloydsbank.com/cardnet

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Source: Company press release.

Categories: Reports and research