It is received wisdom that the high street is dying. Customers are no longer going to bricks-and-mortar shops, and instead are buying almost everything online. Big chains have been able to move increasing amounts of their products onto their websites, but smaller businesses simply don’t have the resources to do this, and they are losing out. In 2018, almost 2,500 stores disappeared from the UK’s top 500 high streets, resulting in the loss of over 50,000 jobs. Covid-19 restrictions haven’t been helping of course, but even without those shopping online is much more convenient, and can be cheaper, right?Continue reading
In 2017, the UK passed a significant milestone. It was during this year that debit card payments overtook cash payments for the first time, with consumers using their debit cards 13.2 billion times, including 5.6 billion contactless payments. Since then, this trend has only continued, and cash payments are projected to keep on falling for the foreseeable future. By 2028, it is predicted that cash will only account for 9% of transactions.
This is incredibly significant for retailers, big and small, online or offline. With card payments becoming more and more common, and payment apps like Apple Pay and Google Pay growing in popularity, it is absolutely vital that your business can handle these in an efficient, secure and reliable way.Continue reading
Customer loyalty is one of the most valuable assets you can have, and engaged, loyal customers can be some of your brand’s most influential advocates. As such, it is well worth investing time and money in acquiring, consolidating and growing customer loyalty. Retail loyalty schemes are a powerful and proven way of doing this, and although there is a cost involved in setting them up, it’s an investment that will pay for itself many times over.
The benefits are many, as we’ve discussed previously, but ultimately the primary goal of any loyalty programme is to boost customer retention. In addition to this, they are an invaluable way of providing you with vital information about your customer base.Continue reading
Always a tricky balance for retailers – not enough staff and there’s a queue, too many and you are wasting money. In this article we look at the causes of a queue and some of the things that you can do to reduce or even eliminate queues.
Whilst there are a few hot tech and training shoe releases that absolutely love a queue and the social buzz that they create, the reality is that most retailers lose 10% of footfall due to queues and waiting times in store. In fact 26% of customers who walk out of a store will discontinue their purchase journey completely.
A queue is a sign that the operation is not working properly and is something to be avoided. A few years ago, customers were more accepting of a queue, but nowadays customers can vote with their mouse and simply head online.Continue reading