There’s no doubt that mobile technology is rapidly changing the ways in which we live our lives, interact with others, and share our daily experiences. As the world continues to adapt to the constantly shifting digital environment, many industries are feeling the heat and being forced to evolve alongside. One of the industries that is rapidly seeking new solutions for the mobile generation is retail. No longer do consumers have to physically be in a store to buy something, rather, they can find and purchase items directly from their mobile device and have it delivered to them relatively quickly, sometimes even in the same day.
As the mobile space continues to develop, grow, and evolve, so to do the trends and marketing strategies for many businesses. In 2013, mobile shopping is projected to drive over $2 billion in sales, so companies are racing to the finish line to try and capitalize on those staggering sales numbers and develop new marketing strategies. To expand on these current trends in the mobile space and what’s causing them, TheMail is proud to have Gigwalk Co-founder Matt Crampton here to offer his personal insights into why mobile-driven shopping will set record revenue numbers this year.
By: Matt Crampton, Co-founder, www.Gigwalk.com
It’s undeniable that eCommerce forever changed the retail landscape. Mobile, or mCommerce, is the next big trend. Some of its effects are
being felt already, while others are on the way. According to eMarketer,
desktop and mobile device usage will be equal within a year or two.
Mobile-driven online shopping is expected to break $2.2 billion in 2013,
and it’s growing rapidly. Here are trends to watch for in terms of how mobile technology is changing the shopping/retail experience.
- Mobile-first Site Strategies—A mobile optimized website is now the gold standard/minimum threshold for retail website development. It’s no
longer enough to be online. Customers need to be able to access and
navigate your site easily from a range of devices—from as small as a
smartphone, to as large as a tablet. The best sites also have advanced
functionality that work easily from mobile devices, such as shopping carts or checking out products online.
- Showrooming—Another trend that’s getting a lot of play and not going
away anytime soon is showrooming. Customers go into physical stores to
check out products, and then price-shop online before making a final
purchase. More than 40% of consumers are estimated to showroom.
- Augmented Reality & Price Checking Apps—More and more retailers are
developing apps to give visitors a custom experience. Augmented reality
apps are creating new pathways to product acquisition. For example, if a
friend has a pair of shoes you like, you snap a picture and an app will
help you locate them. Other apps allow you to price compare products across
retailers based on an SKU or a product name. Control of the shopping
experience is shifting more in favor of the consumer.
- Location-based Incentives & Marketing—The addition of
location-based technologies allows retailers to reach customers in new
ways. Codes and specials can be texted to consumers as they walk by your
store. Specific outreach can be done based on a person’s proximity to a
physical location, using geofencing. QR codes, which are small scannable
codes that take consumers to custom content, are being used to engage
customers as they physically look at products for immediate incentives to
- Mobile Wallets—One of the ways that mobile will affect the evolution
of shopping is through mobile wallets. Right now, customers can pay online
with a credit card, but this still requires a step of entering card
information into each retailers system. With mobile wallets, consumers use
their smartphones to pay for transactions. The technology is still being
perfected, but Google Wallet and Passbook are two to watch. According to
the Carlisle & Gallagher Consulting Group, half of all consumers
will be using mobile wallets within the next five years.
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