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Budleigh traders launch campaign to attract more shoppers.

9 Oct 2023

A group of independent traders in Budleigh Salterton have started a campaign to attract more shoppers.
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Tech could drive more business for indie retailers this Christmas

9 Oct 2023

New research from Square and Clearpay indicates consumer confidence is rising, with 72% of consumers planning to spend more or the same this coming holiday season compared to last year,... Read more…

Full line-up announced for 2023 Bookshop Day this Saturday.

9 Oct 2023

Miriam Margolyes, Richard Armitage and Tomi Oyemakinde will be among the authors headlining events at this year’s Bookshop Day taking place this Saturday 14th October.
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Shop owners demand new offence for attacks on retail workers

4 Oct 2023

Shop owners have called on the Home Secretary to specifically outlaw attacks on retail workers.
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Are you up to speed with new ban on single-use plastics?

4 Oct 2023

From the start of October, bans and restrictions on single-use plastic cutlery, polystyrene cups and food containers, single-use balloon sticks and certain types of polystyrene cups and... Read more…

Cash still crucial for UK’s independent retailers

27 Sep 2023

A recent survey of retailers across the UK has shown that cash remains a crucial payment method for independent shops.
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Almost 2,000 more independent shops left empty in the first half of this year

27 Sep 2023

Almost 2,000 more British independent shops were left empty in the first half of this year, as small businesses struggled to cope with rising inflation and the cost-of-living crisis.
Read more…

Indie shops in Liverpool create their own security network to combat shoplifters.

27 Sep 2023

An independent shop owner in Liverpool has said that independent shops in the city centre have taken to creating their own security WhatsApp group, warning each other of shoplifters in the... Read more…

Indie shops key to reversing fortunes of struggling high streets – university study finds.

27 Sep 2023

A focus on independent and ‘browse-only’ shops can help to reverse the fortunes of the struggling high street, according to an extensive study by Manchester Metropolitan University.
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Trade association welcomes Home Office ‘back-to-basics’ retail crime promise

13 Sep 2023

The recent pledge by police forces across England and Wales to pursue every lead that holds a reasonable chance of apprehending criminals and solving crimes has been welcomed by Bira, which... 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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