Retailers turn to social networks

According to a report by the Retail Council of Canada, just over two-thirds of Canadian retailers are using social media such as Facebook and Twitter to reach their customers and increase sales, reports TheSpec.com.

"I would say the opportunity for that percentage to go up is great," says Andrew Siegwart, VP of membership services for the retail council.

Retailers were using social networking sites for promotional purposes and customer insight, but also to talk to consumers about products or trends, Siegwart says.

The UK Co-op supermarket chain is to enable customers to make purchases of £15 or less using 'touch and go' technology, says Computer Weekly.

The roll-out, carried out in partnership with Barclaycard, will start with a trial involving 100 stores and, if successful, the retailer will extend the technology to all its outlets in time for the 2012 Olympics.

Contactless technology enables cardholders to hold up their card in front of a terminal to pay for low-priced items without needing to enter their PIN code.

A number of luxury goods retailers have turned to e-commerce to recoup the sales and revenue they lost during the global economic recession, states EDL Consulting.

Despite their success prior to the economic collapse, most luxury retailers resisted the growing e-commerce trend as it rarely yielded particularly large sales for them. E-commerce allows these luxury retailers to reach a broader audience.

In the 1990s, a number of luxury retailers began opening their own shops in major cities around the world, which resulted in greater sales.