If you thought coupons were going the way of pay phones and fax machines, new research from BRP Consulting’s report The Mobilization of Retail may get you to reconsider your bias.
Not only are 41% of consumers planning to increase the frequency of their shopping by tablet or smartphone in the next two years, 67% also say they are more likely to shop at retailers with mobile coupons. And 39% are comfortable with mobile identification that personalizes their in-store shopping experience.
Is your store or online business in the game?
Is retail ready to handle consumer mobile expectations?
The shopper’s journey is filled with many choices, channels, and changes driven by the digital transformation of retail, online and in-store. But it’s mobile shopping that has the biggest potential to continue disrupting and changing the shopping landscape.
For example, 34% use their smartphone to compare prices while in a store and 28% look for offers or coupons to save on their purchases.
While 67% of consumers will choose a store based on the availability of mobile coupons, another 64% will also choose a store by the availability of information on a mobile device as well.
According to BRP, improving the mobile shopping experience is a top priority for 41% of the retailers surveyed. “Today, more retailers focus on mobile websites than separate native mobile apps, with 68% of retailers offering a mobile website and 47% offering a mobile app.”
The report says the technology retailers are currently using to identify customers include WiFi (19%), beacons (9%), with 19% of retailers using other technologies.
What incentives work on mobile?
Based on the BRP Consumer Survey, “the most effective incentives to compel customers to allow identification are driven by discounts and special offers: loyalty points/dollars (41%), specialized offers and discounts (34%), product incentives (27%) and credit towards future purchases (26%).”
The retail future online and in-store is very much mobile with wearables on the horizon. The biggest question is can retailers move quickly enough with a positive user experience to meet quickly changing consumer expectations?
You can get a free copy of the BRP Consulting report The Mobilization of Retail here.
Data chart courtesy of BRP Consulting