The fifth annual Canadian Retail Insights Report was released today by American Express, and according to poll data, retailers in this country appear eager to embrace mobile commerce.
The report noted 88 per cent of businesses believe their industry is more competitive due to online competitors, while 91 per cent says improving the customer service experience, with partial mobile offerings is one way to differentiate from the competition.
“Canadian retailers are listening to what their customers want, and what they’re hearing is that consumers are demanding more from their shopping experience,” says Kerri-Ann Santaguida, Vice President and General Manager, Merchant Services, American Express Canada.
As for the way of the future, 76 per cent of Canadian retailers believe mobile commerce is key, with 90 per cent of fast food businesses echoing this sentiment. American Express says businesses need to offer “intuitive app experiences and mobile responsive design” to connect with consumers.
Consumer demand is driving the shift to mobile payments, according to 91 per cent of retailers who have switched to “new payment technology practices” in the past 12 months, a critical factor in staying competitive. Just last year, this number was at 75 per cent.
Despite 72 per cent of retailers agreeing adopting new mobile technologies in what they believe is a matter of survival, not many actually implement these new technologies, with gas retailers at the lowest (6%) when it comes to plans to setup in the next 12 months. Restaurant (11%), general retail (12%) and grocery (16%) retailers also have indicated low rates of implementation.
American Express says they are “committed to mobile payment innovation and to helping Canadian retailers make the most of their mobile payment infrastructure.”
The survey was conducted between March 7 to April 5 of this year, from 375 Canadian retailers (Restaurants, Fast Food Restaurants, Grocery Stores, Gas Stations, and General Retailers only).
American Express was the first to launch Apple Pay support in Canada back in the fall of 2015.