January 10, 2017
Retail can be a tricky business. And that’s why it is so critical for the industry to stay on top of technology trends.
And let’s face it: mobile apps are absolutely reshaping the retail industry.
The ubiquity of mobile devices has allowed retailers to strategize extremely effective ways to connect with their consumers. Harnessing mobile technology effectively in order to streamline operations and forge relationship building between retailers and consumers, has become an important discussion point for stakeholders across the globe.
What’s in it for customers:
The number of consumers using mobile apps is growing extremely rapidly. Given the current smartphone-obsessed environment we live in, it comes as no surprise. But what this means for retailers is that there is a huge chunk of potential they might miss out on, if they don’t incorporate mobile into their marketing strategy. A recent report from Alibaba revealed a shocking piece of information – Alibaba apparently makes more money from their mobile customers than their non-mobile customers!
Ebay too, had a similar story to tell when it reported that $9.5 billion of their Q2 sales of 2016 came from mobile as well. What’s more? 57% of ALL of eBay’s Q2 sales involved a mobile touchpoint.
Almost everyone that owns a smartphone has most likely already experience the extreme convenience of getting to shop from an intuitive and intelligent app. Just a little while ago, consumers considered shopping from a tiny phone screen quite an inconvenient affair. Infact, retailers struggled to get their consumers to switch to mobile. But they knew mobile contained the future and they kept pushing their consumers to at least give mobile a chance. This was done by offering various rewards and making the entire process of completing a transaction unbelievably easy.
Over time, customers caught on. Given that most consumers are glued to their phones at all times, savvy retailers started to offer them the added convenience of features such as easy browsing, personalized product suggestions, one-click purchases, etc. So, not only did consumers sign up for the app, but they kept coming back.
What retailers desperately want is to maximize customer engagement, thereby increasing sales and profits – mobile apps offer an excellent way to achieve just that.