ShopKeep, the cloud-based technology provider used by more than 22,000 retail shops, restaurants, and other independently-owned businesses, announced the release of its bi-annual ShopKeep Small Business Index (SSBI). The SSBI, which draws insights gathered from a survey of 1,954 ShopKeep merchants reveals that 87% of ShopKeep merchants have seen little-to-no adoption of mobile payments at their business during the past six months. Despite these findings, 59% of small businesses still predict that in the next two years, 50% of consumers will be using mobile payments, such as Apple Pay, as their primary payment method.
The survey also showed that 88% of small business owners are confident in the current state of their business, which is an 8% decline from Q1 2015. Despite this drop in sentiment, 72% of merchants surveyed still reported an increase in revenue over the past six months, and 96% remain confident in the success of their business one year from now. As we head into the 2016 campaign season, 57.6% of respondents felt that the election would have no impact on the state of their business.
To read the full Q3 2015 ShopKeep Small Business Index, visit: shopkeep.com/press.
Editor’s note: While not specific to vending, the survey findings reveal an interesting sentiment by other small business owners who, despite slow adoption today, believe mobile payment usage will grow considerably in the near future. This is an important sentiment for operators to notice and consider as they look to implement technology.
