Home Breadcrumb caret Economy Breadcrumb caret Economic Indicators Breadcrumb caret Industry Breadcrumb caret Industry News In a shaky economy, retailers rely on tech to drive sales 31% of those that saw growth in the last year attributed it to investment in technology. By Staff | May 31, 2016 | Last updated on May 31, 2016 1 min read Canadian retailers are looking for new ways to increase sales by leveraging technology, e-commerce and social media. In fact, 31% of those that saw growth in the last year attributed it to investment in technology, finds a report by American Express. Notably, the retail sector reports it nearly doubled its international presence, which it attributed to an increase in online shopping (45% 2016 vs. 27% 2015). Still, many retailers remain dedicated to traditional sales drivers, like customer service and experience (85%), reaching new customers (83%) and providing new product offerings (73%). “Customer service and new product offerings are always important, but in today’s market, embracing new technology to meet customer needs is setting businesses apart from the competition,” says Kerri-Ann Santaguida, vice-president and general manager, Merchant Services, American Express Canada. Here are some additional findings. 77% report that their customers are driving their need to adopt mobile technologies; retailers plan to improve or invest in the following over the next 12-months: mobile payment options (45%); contactless payment options (38%); creating/updating a mobile app (35%); and 33% are seeing increased sales from app or online purchases. Also read: How U.S. advisors use texting to drum up business Investing in the sharing economy? Monitor these risks Can you practice compete with automated advice? Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo