Monday, April 3, 2017

Retail and your phone!

How consumer behavior on mobile is shaping retail industry trends

Related Story

Shopping Micro-Moments Guide: How to Be There and Be Useful for Shoppers
How retailers can help shoppers when mobile matters most.
Consider this: Foot traffic in retail stores has declined by 57% in the past five years,3 but the value of every visit has nearly tripled.4
What's happening? Mobile is driving local.
People use their smartphones before heading in-store—to gather ideas, research products, and then search for local information. It's no wonder that searches for "near me" have doubled in the past year.5
But research isn't the only way mobile is changing the shopping experience. Shoppers buy on mobile, too. A person today might make a buying decision about a $15 tube of sunscreen, a $300 camera, or a $3,000 handbag on a smartphone while on her commute to work, as she walks the dog, or waits to pick up her son in the carpool line. Time on site for mobile users in the U.S. is down 5% year over year,6 however retail's share of online purchases is still growing. Thirty-four percent of online retail purchases now happen on mobile devices.7
The bottom line: In this mobile-fueled shopping landscape, the retailers that thrive see the opportunity to be there and be useful for shoppers in what we call micro-moments—those intent-rich moments when people turn to their smartphones or other devices to know, go, do, or buy something.

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