market roundup Retail Forecast
SGB brings you the latest updates on the retail market, straight from the experts
Consumer attitudes
to contactless Business intelligence research consultancy Future Thinking and Toluna carried out an online survey and analysed the results of over 2300 respondents across the UK, asking consumers about their attitudes towards contactless payments. • 31% of respondents never pay by contactless as they don’t trust it
• 14% don’t know if their cards are contactless • Over 1 in 4 (27%) think £30 is the maximum amount contactless payments should be
• 35% of males never pay by Contactless as they don’t trust it compared to 29% of females
• Age plays a key role in usage. 22% of under 35’s never pay by Contactless as they don’t trust it compared to 43% of over 55’s. Noreen Kinsey, senior research director at Future
Millennials shun mobile payments
95% of 18—35 year olds don’t believe mobile is the future of money According to research commissioned by
ATM machine provider YourCash Europe, those who claimed millennials are pushing for new mobile payment technology may have spoken too soon. Whilst those polled between the ages of 18-35 were still the highest adopters of mobile payment options like Apple Pay, only 3.5% actually chose to use it on a daily basis and less than 5% say it would be their payment method of choice in the next ten years. Slightly more popular was the contactless card, with around 15% saying they used it every day and 17% believing they’d still use it in 2026.
Convenience, rather than security, was
selected by 72% of people as the most important aspect of their favoured payment options. No one over the age of 35 believed mobile payments are safe. Ewan Ogilvie, managing director of
YourCash Europe, commented: “It’s fascinating to see how few young people seem to have taken up new mobile payment options and even more so how few of them see it as a long-term payment method. Perhaps the fact so many simply look for the most convenient way to pay suggests that the biggest challenge for m-payments is simply making them easier for everyone to access and use.”
Staff training boosts sales at outdoor retailers
As customers seek a more rewarding experience in store and have the power of internet browsing for pre-shopping research on their side, retailers across the board are being challenged to improve customer service and product knowledge. This shift in retailing has meant retailers and brands have to look at their learning and development methods, as any gaps in knowledge are being felt on the shop floor and at the Point of Sale. According to developers of online learning and development software Myagi,“Social media and the use of gamification presents a
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unique and effective way to revolutionize how retailers interact with their teams and how brands interact with their retailers.” For the sports and outdoor industries, the pressure on retail teams to be technically proficient and to be ambassadors for the big brands is ever present. “As seen with Mike’s Bikes and Myagi’s recent case study with Black’s, when the relationship between brand, retailer and sales teams is unified, the results are outstanding. Mike’s Bikes has seen a significant increase in sales. By creating engaging training content that’s easily accessible from any mobile device and is genuinely fun, retailers and brands can
Thinking commented: “It is clear from recent figures that there has been a huge increase in the number of purchases using contactless technology. This reflects consumer desires for quicker payment methods and increased convenience. As with all new technologies there is still some reluctance towards this technology, particularly amongst older age groups, who may be further isolated as we move towards mobile pay and other tech-enabled purchase solutions.”
work together to boost staff retention and performance, which translates directly into better sales.”
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