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Mobile is taking the forefront in retail

Posted by bugfinders on Friday 31 March 2017

We currently live in a fast paced and exciting time where the retail space is changing rapidly. It’s a time that allows marketers to create experiences for customers that are personalised and bespoke around their needs and wants. Big data is taking over and crafting the mobile world in which we live.

Mobile tech has now reached the point of seemingly endless possibilities. Consumers can preorder, day-to-day consumables such as drinks and hotels rooms further allowing one to interact with mobile on so many levels with virtual key fobs making your mobile device have more purposes yet again. Adding to this, payment functions have increased significantly due to the rise in the evolvement of the mobile space.

We are now able to access an unlimited amount of goods and services, connected devices, and digital experiences at any point and time. It makes rethinking the way you do business a necessity.

Enterprises are now understanding that retail is not only about creating solutions and services. It’s about hand crafting big data mobile experiences and always putting mobile at the centre.

For consumers, mobile has taken to the forefront of retail. But many businesses are still building experiences around desktops. And therein lies the disconnect; understanding how mobile enables connected experiences across a customer’s journey will help retailers bring their digital and physical experiences together in a way that increases conversions across the board.

A recent report by Altimter stated that, “A mere 20% of digital transformation leaders are studying the mobile customer journey”. This is a big concern.

In 2016, smartphone revenue grew 65% year-over-year, while desktops and tablets both shrank 2%. However, desktop still boasts 75% of retail revenue. Customers are spending more time on mobile, but they’re not spending as much money. And there are good reasons for this. One is retailers are not focusing enough on the customer experience. The opportunity resides in creating highly engaging, personalized mobile experiences that encourage conversion. For example, in 2014 we found that 88% of companies were undergoing digital transformation as a means to improve CX, but only 25% had mapped their customer journeys. In 2016, companies are making progress, but customer-centricity still appears to be more about words than actions.

Understanding what drives consumers away from mobile can help you adapt your experiences to make sure customers don’t get lost in the gaps of frustration. Many consumers are starting with mobile, which means retailers should, too. Prioritising great mobile experiences will help you create journeys that flow in the same way consumers now shop. By putting mobile first, you can make sure your digital products are intuitive, seamlessly connected, and free of frustrations.