Company News • 18.08.2015
"The state of mobile apps for retailers" study
Showing how the mobile mind shift is changing retailers' mobile strategies
RetailMeNot, Inc., the operator of the world's largest marketplace for digital offers, released today the findings of an August 2015 study it commissioned from Forrester Consulting that looks at how smartphones and apps are changing the retail landscape and how retailers should respond to engage shoppers.
The findings of the study are based on consumer surveys and retailer interviews. One major insight the study provides is that while today's consumers overwhelmingly prefer to access the Internet on their mobile devices, only 30 percent use retailer applications to purchase products.
This mobile revolution in retail is not lost on marketers. Retailers increasingly understand the importance of engaging with shoppers in these mobile moments. However, retailers struggle to get consumers to download and use their apps. In fact, 60 percent of consumers have two or fewer retailer apps on their phones, and 21 percent have none.
"Retailers' mobile strategies needs to encompass more than just their app and website - they must also reach extended mobile audiences engaged in the shopping or browsing process," said Michael Jones, senior vice president, retailer and brand solutions, RetailMeNot, Inc. "I believe that this study conducted by Forrester Consulting clearly shows that retailers who involve partners like RetailMeNot, that already own and can share consumers' mobile moments, are on a pathway towards success."
"This new Forrester study focuses on mobile as the most important touch point for retailers to win, serve and retain customers," added Jones. "Whether consumers are shopping in-store, online or while time shifting on their smart phone or tablet device, retailers' mobile experiences must meet consumer expectations."
Smartphones are quickly becoming the first screen for consumers - even in retail
- 84 percent of consumers surveyed use their smartphones while shopping in-store.
- Internet usage at home in the living room and common areas is now predominately done utilizing a smartphone (83 percent), surpassing PC/laptop usage (53 percent) and tablet usage (54 percent).
Coupons continue to be compelling content and have gained more traction as an in-store influencer year-over-year
- 65 percent of consumers use their smartphones to find coupons online.
- More than half (55 percent) of consumers surveyed say they use a smartphone to find a coupon while shopping in-store, and an equal number use their smartphone to redeem a coupon while in-store.
- The study found that in 2015, 49 percent of digital coupons discovered on smartphones are ultimately used in-store to make a purchase, a 22 percent increase from 2014.
Retailers struggle to get consumers to use their apps
- Of the U.S. consumers surveyed who have used a mobile phone in the last 3 months to perform a retail-related activity, 60 percent have two or fewer retailer apps on their phones, and 21 percent do not have any.
- Over half of respondents (56 percent) use retailer apps once a month or less.
- In fact, the study revealed that consumers more frequently choose to use a mobile website to perform the majority of their shopping-related activities, such as purchasing a product, finding a coupon or coupon code or comparing prices with other websites or stores.
Retailers must do more to reach customers beyond having a great app
Retailers can extend their mobile reach through partnerships with the applications customers use most often, helping the retailer to "borrow" mobile moments. Partners like RetailMeNot can act as additional channels for retailers to market to customers, and for new customers to discover retailers. Furthermore, promotional partners with large mobile audiences and active users can provide retailers with an invaluable source of data, context and insights that retailers need to provide customers with personalized, superior shopping experience.
Access the full study
Source: RetailMeNot, Inc.