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The Association of Cycle Traders
This is a trade facing website.
Visit the ACTís consumer site at thecyclingexperts.co.uk.

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18 Feb 2019

The government has published more Brexit guidance for retailers in the case of a no deal Brexit

15 Feb 2019

The Department for Business, Energy and Industrial Strategy's have proposed to increase engagement with microbusinesses to build their awareness and understanding of the use of smart meters

15 Feb 2019

The Department of Environment, Food and Rural Affairs' have proposed to extend the carrier bag charge

13 Feb 2019

Final days to register for iceBike*, an absolute must for all IBDs this year

12 Feb 2019

Madison has produced another amazing and impressive line-up of speakers from inside and out of the cycling industry.

11 Feb 2019

East Sussex Trading Standards are working with their partners in the Fire Service and Environmental Health and widely through the Business Advice and Support Partnership to supply e-learning for...

11 Feb 2019

A new guidance has been published for the retail sector with information on preparing for the EU exit

11 Feb 2019

London Bike Show and Triathlon Show: London has announced that ticket sales are up 20% from last year

8 Feb 2019

Prevent Breast Cancer is named the first charity of the year for the Prudential RideLondon-Surrey 46

8 Feb 2019

Desktop ecommerce is getting outweighed by mobile ecommerce but conversions are still very low

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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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