For the British fashion industry, each year there are many innovations and creative efforts put forth that produce amazing results for retailers. However, one aspect they seem to be skipping on is mobile. Recent research has found that a large amount of fashion retailers do not currently have a website optimized for mobile devices. For these and other merchants, it is essential for them to go mobile as that is where consumers are going.

According to BizReport, a study by OnePoll revealed that 84 percent of fashion retailers surveyed do not have a mobile website available. This number is shocking, as 90 percent of respondents surveyed stated they believe that mobile shopping is essential to operations. There are several reasons as to why these retailers are failing to integrate mobile sites. Many said the high associated costs are the main challenge, while others think the effort would be too time consuming. Whatever the reason, the study's authors argue that steps must be taken by these fashion merchants to adopt a mobile site or they could lose out to competition, reports the source.

Many retailers around the world are being encouraged to embrace mobile platforms. The Wall Street Journal writes that a paper from investment bank GP Bullhound recommends that merchants integrate mobile systems to accommodate a larger range of consumers. If not, these businesses can suffer by not being provided with sales opportunities.

Smartphones and tablets are drastically changing the commercial landscape, as consumers use these products to purchase services and goods. While in-store and online shopping is still popular, these mobile technologies are providing convenience for customers to quickly and efficiently buy the items they want. For this reason, industry experts believe that the mobile payments trend is on the verge of becoming mainstream in the American marketplace, and many retailers are being encouraged to implement solutions that allow them to accept these purchases. However, it seems as though the adoption is soon to be widespread, some retailers are still hesitant when it comes to fully integrating these systems.

Merchants cautious about mobile payments

Retailers can adopt applications and solutions that allow them to process and accept payments from consumers who are using smartphones and tablets, whether it's in stores or from remote locations. However, hese initiatives cost money, and some businesses are hesitant to buy systems that they are not even sure will see much success, as the trend is still developing.

A recent survey by Forrester research, in 2011, 50 percent of merchants stated that they spent less than $100,000 on smartphone apps and solutions for mobile engagement, including purchasing options for shoppers, reports Retail Customer Experience. Nearly three-quarters said they spent less than that amount on tablet systems. However, things may be looking up for mobile payments, as retailers plan to spend an average of $207,000 on mobile initiatives. This represents a sharp increase from the average amount of $55,000 in 2011.

Merchants stated that there are several challenges that they face when deciding whether or not to adopt mobile systems. The inexperience with mobile applications and design is an aspect that many retailers face, along with budget concerns for maintaining and improving these programs.

"Retail executives are taking a measured view of the immediate benefits of these efforts – in part because of the myriad of challenges that must be considered when investing in mobile for their company," said Forrester vice president and principal researcher Sucharita Mulpuru.

Retailers encouraged to mobile payments adoption

However, merchants are being encouraged and pushed by industry experts to implement mobile solutions, reports the Wall Street Journal. Retailers could lose out to competition if they don't act quickly. On the other hand, the solutions they adopt should be effective and easy-to-use for customers, which can increase revenue and even consumer retention for businesses.

The months leading up to the holiday shopping season are both hectic and exciting for retailers. This period of high sales is always anticipated to boost economic conditions, especially over the past few years since the recession. Although the outlook has been getting brighter for the United States, there are some consumers who are still struggling. These individuals certainly do not want to miss out on holiday shopping, so they are relying on store layaway programs that provide an alternative option for purchasing the gifts and items they want. Retailers are focusing their efforts on increasing their layaway methods to accommodate these customers.

Layaway options already being offered

In the hopes of bringing more consumers who are looking to get their holiday shopping completed early, retailers are already gearing up their layaway efforts. According to The Street, big name retailers are relaunching these methods to provide more options for customers. These companies had done away with or decreased their layaway offerings, as it became unpopular a few years ago. However, the economic downturn forced many to begin offering the service again.

Wal-Mart and Toys-R-Us are some of the largest retailers who are aiming to accommodate shoppers who prefer to layaway items, states the source. Other big brands include Kmart, T.J. Maxx and Sears. These companies don't have layaway for customers during the rest of the year and are providing the option just for the holiday season. They have also decided to waive fees and other costs that normally come with layaway to attract consumers who might be cash-strapped.

Money-conscious consumers can benefit from layaways

Industry experts anticipate that both large and smaller retailers could begin offering the option as the holiday shopping season gets closer, according to ABC News. These methods offer many benefits for consumers who might not have access to credit cards or are strapped for cash. The number of Americans who have financial troubles has risen significantly over the past few years, and layaway options allow them to afford the items and gifts they are looking for.

Additionally, brick-and-mortar retailers are using this strategy to draw in shoppers, as online retailers normally do not offer the service. As these stores compete with internet sellers, layaway options can increase revenue and customer retention as more shoppers come into the physical location to purchase goods.

Mobile retail sales in the United Kingdom are expected to rise significantly during the holiday shopping season, as consumers are beginning to prefer completing transactions on their devices. Retailers throughout the country are starting to prepare for the trend by integrating solutions that allow them to accept mobile payments.

Internet Retailer reports that leading up to and through the holiday shopping season, online retailers could see at least 20 percent of sales be made on mobile devices, according to recent research from theIMRG Capgemini Quarterly Benchmarking Index. Additionally, up to 30 percent of website visits could be from mobile users. These expectations come from the increase in U.K. web sales during 2012's second quarter, which increased to 11.6 percent from the first quarter's 8.2 percent. Online mobile retail sales have drastically increased by 2,900 percent since the first quarter of 2011, the report states.

These increases in the number of sales are the main reason why many retailers are beginning to adopt solutions that allow them to accept mobile payments, both in stores and online. Ecommerce Times writes that these retailers will need to eventually integrate mobile payment systems to stay competitive within the marketplace. Failing to accommodate consumers who prefer to pay with mobile devices could have a negative impact on operations.

It is always beneficial for retailers to know and understand what their customers are looking for. Researching and analyzing demographics can help stores know what to offer and how to provide service. Millenials – individuals between ages 18 and 29 – are proving to be a vital group for retailers as the generation is making smarter shopping decisions.

Independent Retailer cites research by PNC Financial Services that found these consumers are attempting to better manage their finances, as many are faced with student loan and credit card debt as well as working lower-paying jobs out of college. Some have to move back in with their parents. Despite this, the research shows that many are spending more on clothing, entertainment and food than previous generations. Retailers have been trying to determine how they can reach these individuals. PNC found consumers in this group respond well to social media campaigns as well as personalized interactions.

According to Forbes, retailers have been trying for the last decade to appeal to these shoppers since they were teenagers. However, trends and financial situations have changed, leaving many stores developing new advertising methods. The source states that Millenials tend to use social media more than email and prefer not to interact with larger businesses. Younger consumers prefer to have authentic engagements with retailers, which may be what merchants need to focus on.

As smartphones are turning into devices used to make purchases, consumers are still relying on their mobile phones to research and contact retailers. This can be beneficial for companies and their retail business intelligence processes.

A recent study by Nielsen revealed that consumers use their mobile devices to look up a variety of information relating to retailers who are in the immediate area. Approximately 84 percent of customers research physical store locations and directions. Nearly three-quarters of users look up a business' phone number and then call to find out more information about what is offered. The study's results highlight the importance of mobile phones and the significant role they will continue to play in the retail industry.

Mobile devices are increasingly being used by consumers for many retail processes. On Device Research CEo Allistair Hill writes for Newline that his company found that both online and in-store purchases are becoming more common for mobile users. More than three-quarters of customers who responded to the survey have used their phone at brick-and-mortar locations. Additionally, 47 percent of shoppers access retail information on their devices while at home or other remote locations.

The holiday shopping season is always a sight to behold, and this year's is expected to see a boost for retailers and the manufacturers that supply them. Many industry professionals anticipate that holiday sales in the next few months will either meet or surpass the totals from 2011.

A study by Capital Business Credit revealed that 77 percent of respondents said they believe retail sales throughout the fall and winter months will stay the same or increase from last year. Some expect the back-to-school shopping season will also boost sales, with 33 percent stating the amounts from school supplies and clothing will exceed 2011's totals. The summer season was not as positive as some retailers and manufacturers had hoped, as the research found that 66 percent of stores held sales and offered discounts to clear merchandise for the warmer months from shelves.

"Like many other recent economic indicators, we are getting a lot of mixed signals from importers and manufacturers of retail goods," said Andrew Tananbaum, executive chairman of CBC. "We do believe there is the potential for growth as we head into the back-to-school and fall seasons."

Click Z reports that the holiday shopping season is expected to begin earlier this year, as consumers look to wrap up gift-buying before the big rush starts. Mobile payments are also anticipated to play a significant role.

While the economy may be giving retailers and their POS software headaches nationwide, store owners in Michigan are remaining positive.

According to the Michigan Retail Index, a project supported by the Michigan Retailers Association and the Federal Reserve Bank of Chicago, retail sales and forecasts in the state showed improvement over the previous year despite stalling in June.

The index found that 50 percent of retailers saw increased sales year-over-year, 33 percent reported declines and 17 percent reported no change. The index registered at 58.6 compared to 52.1 last June. However, the number was a decline from 61.9 in May.

"The performance of Michigan's retail industry slipped from May to June, catching up to a national trend that began two months earlier," said MRA President and CEO James P. Hallan. "However, we are still seeing year-to-year growth, a broader picture of where we are."

However, the small business sector has not espoused similar optimism. The National Federation of Independent Business reported small business sentiment fell three points in June, following a decline in May as well.

Retailers are ordering more product to sell to consumers, an optimistic signal that suggests many merchants remain confident they will do more business than they did last year.

According to the National Retail Federation's report, import cargo value grew a minimal 1.6 percent in July compared to the same time last year. Moving forward through the "back to school" and holiday seasons, modest year-over-year increases are expected to continue.

"Whether consumers are going to have the confidence to spend during the next few months depends on what happens with employment, but retailers are being cautiously optimistic," NRF vice president of supply chain and customs policy Jonathan Gold said. "Sales can fluctuate from month to month, but these import numbers show that retailers are still expecting this year to be better than last year."

Total shipments hit 1.34 million twenty-foot equivalent units (TEU) in May (precise figures are released by the NRF on a rolling basis after the fact). A single TEU is one 20-foot cargo container or something equivalent to that volume.

Inventory management software, such as the solutions offered by Retail Pro, enable merchants to better plan for busy seasons as they order their products.

The retail sector continues to be a strong one in Canada, but the majority of sales are going to the biggest players in the country, a new report from Ryerson University's Center for the Study of Commercial Activity. Approximately 100 retail brands are accounting for 75 percent of non-automotive retail sales and $220 billion revenue.

The Weston Group (parent company of a number of retail brands) was Canada's top retailer, followed by Walmart and Empire company. These three companies alone make up 23 percent of total retail sales in Canada and operate 3,104 locations in the region alone.

"Canada's smaller market size and the dispersed nature of the Canadian urban system means that greater corporate concentration levels in the Canadian retail marketplace are necessary to ensure that we can achieve economies of scale and remain competitive in the global economy," says Christopher Daniel, lead author of the report and a senior GIS analyst with the research center.

For smaller retailers, upgrading their point-of-sale systems may help. Not having a retail POS terminal that can accept a variety of payments may be causing some merchants to needlessly lose sales.