Compelling in-store experiences key to driving traffic

Growth is top of mind for Canadian retailers, with 61 percent eager to expand in the coming year – though they are split on whether to prioritize brick and mortar (52 percent) or online offerings (48 percent), says Square’s 2024 Future of Retail Report. With 71 percent of Canadian consumers typically shopping in-store and 29 percent online, the research emphasizes that keeping in touch with customers via digital channels is key no matter where or how they choose to shop.

The report says compelling in-store experiences are key to driving traffic into stores. Canadian consumers are most likely to try offerings like in-person loyalty programs (62 percent); in-store dining options like a coffee or wine bar (46 percent); and interactive displays, kiosks, or activities (33 percent).

To compete in today’s marketplace, retailers are offering more choice and flexibility to reach new and existing customers – such as by implementing faster and easier communication channels with customers (42 percent) and providing Buy Now, Pay Later options (41 percent).

“Whether retailers are focusing on in-store or online shopping, it’s more important than ever to maintain communication with your customers,” says Roshan Jhunja, general manager of Square for Retail. “Retailers should be building rapport and staying connected with their customers through social media, email, and text, and they should also be finding ways to create unique in-person experiences to bring folks into their stores.”