CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow UK retail sales rise in May - viewpoint from Skrill
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
UK retail sales rise in May - viewpoint from Skrill PDF Print E-mail
Thursday, 18 June 2015

Following the publication of the latest ONS retail stats, Sean O’Connell, chief marketing & product officer, Skrill Group, comments on how the way consumers shop, pay and transact with retailers has fundamentally changed.

He said: “The latest retail figures show consumer spending is getting back to pre-2008 levels, but the way consumers shop, pay and transact with retailers has fundamentally changed.
 
“Contactless transactions alone have more than tripled in the last year and the increase in digital payment options is set to further disrupt how we purchase goods and services on the high street.  This is most evident among 18-24 year olds, according to Skrill research, which found that when this age group shops on the high street, one in five (17%) now pay for goods or services in-store via a mobile device or contactless reader.
 
“Although initially wary of investing in contactless, retailers now see it as a very real part of their payments mix. Consumer expectations, however, have increased exponentially.
 
“Consumers have very real expectations of being able to tap & pay, click & collect, or if the right size or colour isn’t available in store, order for delivery. Smart retailers are thinking beyond people queuing at a till and focusing on removing friction from payment - an area Skrill has concentrated on online through our wallet and one tap payment functionality.

“Such digital payment solutions also provide exciting opportunities for retailers to be able talk to and reach out to consumers, which is evident when working with our own core retailers on analytics and insights to achieve their goals.
 
“The entry of brands such as Apple, Google and Samsung into the payments space helps to grow acceptance and credibility among retailers previously cautious of adopting new payment options. Retailers can expect this to further accelerate demand away from cash and towards more convenient payment methods such as digital wallets.”

(Source - Skrill Group Comment)
 

 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197