Focus on Customer Service is Driving Sales for Canadian Retailers

Sep 30, 2015

Right now retailers are feeling better than ever. According to the third annual Canadian Retail Insights Report released today by American Express, around 82 percent of businesses surveyed believe that a focus on customer service is the reason for profit increases. And 97 percent said they will use customer service to differentiate themselves from the competition.

Jennifer Hawkins, General Manager of Merchant Services, American Express Canada and Vice President notes that consumers have more choices than ever. In order to stay competitive, retailers are making superior customer service their number one priority.

The survey covered retailers in fast food, grocery, gas, restaurant, and general retail sectors across Canada. Despite some concerns about the financial health of the national economy, 84 percent of retailers seem to be optimistic about the future. Trends in growth show the financial outlook is positive for the next 12 months. This represents a positive climb over the last 3 years.

Differences by Industry

The report showed that opinions about the future and company priorities differed by industry. For example, businesses in the restaurant (82 per cent vs 67 per cent) and grocery (87 per cent vs 66 per cent) sectors decided to invest in improving customer service in 2015 than in 2014.

Companies in the fast food industry is focusing on hiring (49 per cent) and opening new stores (27 per cent). A focus on opening new stores appears to be a strategy prominently featured in the fast food industry, as only nine per cent of retail respondents reported plans to open new stores in the coming year. The gas industry was the only sector that declined to list customer service as their top priority (82 per cent). Instead their main focus is on sales and promotions (86 per cent).

The retail industry in Canada is experiencing growth because of a focus on customer service. eMerchantBroker has helped many Canadian merchants reach their financial goals. Now merchants can enjoy unbelievable profits in partnership with EMB.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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