Why 75% of Retailers Plan to Accept Crypto in the Next Two Years

75% of retailers are working on accepting crypto payments. What could your crypto buy? 

According to a new survey by Deloitte, many U.S. retailers are working to develop and implement the infrastructure needed to accept cryptocurrency payments. In the survey, more than 60% of businesses questioned indicated that their customers have shown significant desire for crypto payment options. Some businesses are incorporating crypto into their ecosystems in an attempt to either improve their customers' experience, increase their customer bases, or simply earn a status as a pioneering brand. Whatever the reasoning, large organizations are showing real interest in crypto inclusion.

Sentiment around crypto

In Deloitte's recent survey, executives at major retailers gave their thoughts on the emerging world ofdigital currency. The sentiment of these executives posits that organizations with crypto incorporation are perceived to have a competitive advantage. In response to this sentiment, a majority of retailers with revenues exceeding $500 million are investing upwards of $1 million to create the infrastructure they require for crypto payments to become feasible. 

With so many companies investing in cryptocurrency, the world of retail could look very different within the next 24 months. No longer will consumers be restricted to one fiat currency to make purchases. How will this affect the retail market as a whole?

Crypto in retail

Cryptocurrency may be experiencing a period of struggle, but this is not stopping major enterprises from recognizing the potential this market holds for all types of consumers. With executives from cosmetics, digital goods, electronic media, clothing, food, transportation services, and more seeing the value of cryptocurrency for their businesses, crypto's current slump could see recovery in the near future. 

The more real-life use cases that crypto has, the more mainstream it will become. If enough major retailers incorporate crypto into their business processes and see success because of it, the crypto market could turn around quickly. The major players who drive the recovery of the market could become the next major players in the crypto space.

The bottom line

Over 75% of retailers across the U.S. are investing their funds to support cryptocurrency payments within the next two years. Many big name companies are vying to be the first household names to support cryptocurrency for one reason or another, and it could change the retail market forever. This development could also greatly impact the current state of cryptocurrency, potentially allowing it to rise out of the proverbial pit it has fallen into. As more and more users have a greater desire to acquire cryptocurrency, the values of accepted coins are likely to rise.

Looking to buy while the time is right, but not sure where to go? Check out our guide to cryptocurrency availability by exchange to see which sites have the right coins.