Mobile technologies continue to be a disruptive force in reshaping the retail landscape. The numbers are already staggering, and consider this – they’re only getting bigger:
- 15.4 percent – mobile’s share of digital spending worldwide
- 50 percent – mobile’s share of overall online U.S. retail traffic
- 55 percent of shoppers have used mobile devices in-store
- 62 percent of mobile shoppers indicate information gathered via mobile is more beneficial than in-store product displays
One out of every two Millennials have downloaded a shopping app, and if that sounds important, it should – Millennials are projected to account for 40 percent of total retail spend in 2020. [Psst: that’s just a little over four years away!]
It goes without saying that a brand’s mobile app has to add value to customers. Multi-brand retailers with large inventory assortments aim to create easy-to-use mobile shopping experiences, and nearly every retailer looks to their app to increase shopper engagement, drive a better shopping experience and, ultimately, increase shopper loyalty.
The retail industry is in a period to experimentation as it relates to mobile, and “test fast, fail fast” is the mantra.
Sometimes it works, and that’s great. However, often it doesn’t work, and with great regularity, apps don’t even get a fair chance to impress.
A huge challenge for retailers is to get shoppers to actually download and open the app! It’s estimated that less than five percent of shoppers do access a store’s app, so what’s to be done for the other 95 percent?
Companies like RetailNext partner Pikato are producing solutions that fill that gap. Pikato allows retailers to deliver an app-like experience, only without the app. When a shopper engages with a brand on her mobile device, Pikato delivers a personalized experience for the shopper, getting her engaged quickly and driving conversion.
So, while “To app or not to app” might be the question, the answers to retail’s questions on effective mobile strategies are increasingly important. For more interesting facts and figures about mobile and its disruptive influence, check out the great infographic below from Invesp.
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