Mobile Shopping Boosting Retail Investments
A new report shows that almost 80 per cent of Canadians are now using smartphones to shop and make their purchases.
Furthermore, coverage of the latest surveys by the Edmonton Journal shows that 79 per cent of Canadians between the ages of 18 and 29 years old and as many as 77 per cent of those aged 25 to 54 are using mobile devices in conjunction with shopping in Canadian retail stores.
While 10 per cent of the surveyed Canadians have used mobile payments, less than a quarter of shoppers say they feel comfortable using their smartphones to make payments, rather prefer to use credit cards and cash in stores.
This shows us that e-commerce and the latest apps and smartphones are generating a significant amount of business for retailers, especially in helping consumers make purchasing decisions.
Done right, new technology and a complimentary online presence for retailers can increase in-store sales, sale per square foot and same customer sales. This can provide a tremendous boost for retailers, property owners and investors.
These online and tech tools can also provide a substantial lift to in-store traffic and sales via recommendations, positive online reviews and social media contacts.
As property managers and landlords begin to capitalize on this increased community and engagement, they can expect improvements to the overall results achieved by retail tenants and investors.
Those investing in local shopping plazas are also well positioned to benefit from the continued adoption of these technologies and their lift to rental rates and Net Operating Income.