The Week in Retail: Cyber Monday a Success

//The Week in Retail: Cyber Monday a Success

Congratulations! You survived Cyber Monday! With technology becoming increasingly part of consumers’ lives, total Cyber Monday sales rose by 8.7% over last year. The rise is attributable to more shoppers buying online, since average transaction values remained flat. This tells us that retailers have an opportunity to augment sales even more, with smarter online merchandising and cross-channel promotions. (Business Insider)

Mobile POS adoption has followed a remarkable trajectory over the past three years, and the trend does not seem to be flattening any time soon. BI Intelligence predicts that 79% of retailers will have implemented a mobile point of sale solution by 2019, an incredible rise from 15.2% in 2013. Whereas the early adopters of mobile point of sale were often smaller retailers looking for easy-to-use technology, the greatest opportunity lies with higher-volume merchants looking to add mobile capabilities to their existing technology portfolio. (Business Insider)

Mobile payments are also on the rise. Although fewer than half (36%) of shoppers used mobile payments in brick-and-mortar stores this year, this is far greater than the 15% who did so in 2012. Consumers are interested in the time-saving technology, with 56% saying that they would like to use their mobile device to pay for holiday gifts this year. Not surprisingly, Millennials are among the most open and interested consumers when it comes to mobile payments, with 53% reporting that they have used mobile payments to pay for in-store purchases. (RetailTouchPoints)

Is your loyalty program optimized for gift giving? The holiday season can be an expensive time of year, so shoppers are looking to their loyalty rewards as an opportunity to save. A new report finds that six in 10 shoppers plan to redeem points towards savings on holiday gift purchases this year. Here also, Millennials are ahead of the curve, with 71% of shoppers ages 25 to 34 reporting that they plan to redeem rewards in exchange for savings on gifts. (ChainStoreAge)

2017-10-25T21:03:42+00:00 December 5th, 2014|Articles|