Although the Olympic team for Great Britain might not be at the very top of the medal count, British athletes have seen much success in their respective sports. Retailers are putting forth their best efforts to capitalize on this success, by participating in marketing and sales programs to draw in more customers.

According to Marketing Week, many sports retailers have experienced an increase in shoppers, both online and in the store. Sports like swimming, tennis and cycling have seen a rise in interest, as customers are buying equipment and athletic wear to be able to participate in these forms of fitness. One online retailer, Wiggle, which sells bicycles and associated equipment, has experienced a 71 percent increase in traffic on its website. Company executives say that over the past few weeks, bike sales have risen significantly.

The Olympics is leading the way for another trend in the retail world. Mobile payments is being tested out among athletes at the London Games, reports Investor Place. Competitors have been given Samsung smartphones that have payment capabilities through an already-installed application, and industry experts are waiting to see how the new purchasing trend will turn out. Many believe this testing phase will highlight the convenience as well as any problems that might arise for consumers and retailers, states the source.

This entry was posted by Retail Pro on Thursday, August 9th, 2012 at 10:43 am .