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Funding to support the high street

15 Apr 2019

Government funding is in place to support the high streets
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Making Tax Digital for VAT Business Webinars

12 Apr 2019

A further two webinars are taking place in April to provide businesses with the support needed to transition into the new Making Tax Digital scheme
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1/3 of traffic in fashion retail comes from mobile search

8 Apr 2019

A third of traffic and orders for large online fashion retail brands comes from mobile search and social. What can indie retail learn from this?
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Technology may hold the key

8 Apr 2019

Technology may be the key to competing with the larger brands, like Amazon
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Stationery Show London 2019

8 Apr 2019

Get ready for this year's Stationery Show London
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Changes to Wage Rates, Tax Rules and Business Rates

8 Apr 2019

Changes to wage rates, tax rules and business rates from the 1st of April
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Bring your craft store to life

5 Apr 2019

Visual merchandising tips to bring your craft store to life
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South Downs Bikes, back for another Local Bike Shop Day!

28 Mar 2019

South Downs Bikes has been around for 14 years and is now a renowned indie bicycle company with two shops in Storrington and Worthing
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Crime Report 2019

28 Mar 2019

ACS' Crime Report 2019 brought together responses from 7,000 stores
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Choosing a finance provider, avoid the pitfalls #2

26 Mar 2019

Following an increase of incoming calls querying finance providers in the cycles market, the ACT are publishing a mini-series to answer the trade's questions.
Read more…

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In-store spending encouraged by mobile payments

Posted on in Business News, Cycles News

A study involving 200 senior executives from major multichannel retail stores finds clear agreement on the role of mobile payment technologies as a sales driver in-store. mobile pay

The report found that,

81% believe that the simplicity of payments, streamlining of the checkout process and removal of friction introduced by the technology encourages customers to shop with them more frequently.

80% said that the introduction of the technology drivers repeat customers.

52% of retailers who have taken on the mobile payment technology say it encourages more spending per transaction than conventional payment methods.

38% of the people involved in the study felt that the largest benefit of the technology was the facilitation of engagement by improving convenience and customer experience in real time.

It is the introduction of mobile payments that have enabled retailers to study the customer journey and improve various elements from purchasing to aftersales. Going digital has also meant a lot more time can be spent looking after customers, with a less intrusive means of requesting emails to follow up and re-engage with customers in the future. 26% of retailers say that these two factors are the main benefit of the technology.

Director of Marketing at VoucherCodes, Jimmy New, says:

"These latest figures highlight how retailers are continuing to adapt to the growth of online and mobile spending. Technology and digital investment will be key to ensuring this growth does not come at the expense of traditional high street spend, as Artificial Intelligence and other popular innovations transform the overall shopping experience".

The future of what the high street will become is still unpredictable and may remain that way, but, the next few years will see a spike in interest in artificial intelligence and investments into digital technology. Although technology will no doubt be the driving force behind changes in the next 12 months, the message behind these reports and alterations to business models are,

These are steps in the right direction toward personalised approaches for consumers.

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