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Small Business Strategy Inquiry 2025 - ACT and Bira call for members to share their voice

20 Jun 2025

The House of Commons Business and Trade Committee has asked the ACT, and its parent company Bira, to help them reach out to small business retailers across the country, for their quick input on... Read more…

Beyond the discount: Restoring integrity to the cycle supply chain

18 Jun 2025

The Association of Cycle Traders believes the time has come for greater accountability throughout our supply chain, writes ACT Director Jonathan Harrison in an article published for BikeBiz.
Read more…

Bira welcomes Wales' business rates proposals but calls for key improvements

11 Jun 2025

Bira has welcomed the Welsh Government's consultation on business rate reforms for retail shops, whilst calling for significant improvements to ensure the proposals truly support high street... Read more…

New awards launch to champion Britain's independent high street heroes

9 Jun 2025

Retailers on Britain's high streets are being encouraged to put themselves forward for the first-ever Love Your High Street Awards, designed to celebrate the small businesses that bring... Read more…

"Tectonic shift" in employment law threatens independent retailer viability, warns Bira podcast

6 Jun 2025

Independent retailers are facing a "generational" transformation of employment law that could fundamentally change how small businesses operate, according to the final episode of Bira's first... Read more…

Retailers hope warm weather and bank holidays will boost high street sales

16 May 2025

ACT parent company Bira has said that members are hopeful the warm weather, Easter weekend and upcoming bank holidays will provide a much-needed boost to high street sales.
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Economic growth surges to 0.7%, but "April reality check" looms for high street retailers

15 May 2025

UK economy delivers strongest quarterly performance in a year despite forecasts of business downturn.
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Communities come together for Local Bike Shop Day 2025 celebrations

13 May 2025

Local Bike Shop Day 2025 brought a wave of... Read more…

ACT parent company Bira welcomes Bank of England's latest interest rate cut

8 May 2025

ACT parent company Bira has welcomed the Bank of England's decision to reduce interest rates from 4.5% to 4.25%, calling it a "much-needed boost" for the retail sector, including for cycling... Read more…

ACT parent company Bira responds to Beales' "Rachel Reeves Closing Down Sale" as iconic store makes final protest

8 May 2025

ACT parent company Bira has responded to the news that the 144-year-old Beales department store is staging a "Rachel Reeves Closing Down Sale" in its final weeks of trading, with giant yellow... 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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