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Is your creative shop the Best Small Shop of 2019?

14 Aug 2019

The IRC recommend small shops within creative industries to enter the competition and represent the industry with pride!
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Outdoor Shops encouraged to enter the Best Small Shops competition!

14 Aug 2019

Represent the outdoor sector and celebrate local outdoor shops around the UK
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The ACT shortlisted in the BikeBiz Awards 2019!

12 Aug 2019

The ACT has been shortlisted as a finalists for the Cycle Advocacy Award!
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Big ideas for Small Business Saturday

9 Aug 2019

Small businesses are encouraged to think big for Small Business Saturday!
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How was Cycle to Work Day for you?

8 Aug 2019

Cycle to Work Day is back for it's seventh year

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750 UK firms sued daily for failing to pay rocketing business rates

7 Aug 2019

All councils within England were requested to provide details of how many businesses had been taken to court for non-payment of their business rates during the 2018/19 financial year.... Read more…

BA encourages booksellers to go green

1 Aug 2019

The Booksellers Association (BA) has created a Green Manifesto encouraging themselves,Booksellers and the Book Industry to improve their eco-friendliness.
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Calling all bike shops to enter the Best Small Shops Competition!

24 Jul 2019

The Best Small Shops Competition provides you with the opportunity to represent the Cycle sector and celebrate local bike shops across the nation. The competition recognises the innovative... Read more…

Keeping Britain's Independent Retail Alive

17 Jul 2019

As indepedent businesses are increasingly affected by political factors and a lack of government support, the UK retail industry is becoming a crisis situation with hundreds of independent... Read more…

Search For Britain's Best Small Shop of 2019 Gets Underway

4 Jul 2019

The annual search to find Britain’s Best Small Shop, a competition managed by the Independent Retailers Confederation (IRC), begins today with a focus on consumer engagement and how... 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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