Are Retailers Ready For The New Trend In Shopping?
There is a new trend coming in shopping according to several surveys. Are retailers ready for it? According to the statistics we have seen so far, probably not. In a survey that we conducted, less than 3% of retailers that had a website were optimized for mobile. That can equate to considerable lost revenue this year with the new trend in shopping.
Holidays May Herald The Year Of The Mobile Shopper
By Andria Cheng
NEW YORK (Dow Jones)–When the holiday shopping frenzy of 2011 kicks off later this month, it could be the year of the mobile shopper.
A record number of consumers will shop from their mobile devices this coming season, according to a forecast from IBM Coremetrics, which studies online data from 500 leading U.S. retailers. And retailers seeking to tap into that trend will be forced to adapt.
“It’s going to play a big part of how consumers are buying this holiday,” said John Squire, chief strategy officer of IBM Coremetrics, in an interview. “Mobile users have less patience. They are surgical shoppers. Retailers are going to have to do a really good job in targeting their messages and promotions for mobile users.”
Retailers who do optimize for mobile could see some big rewards by doing so. Mobile is becoming the new internet access of choice and is expected to soon displace PC’s as the way most people go online. Retailers that have already started adapting to this trend are enjoying some pleasant benefits.
Among the retailers that have earned plaudits for targeting mobile users are department stores including Macy’s Inc. (M) , Nordstrom Inc. (JWN) and J.C. Penney Co. (JCP). All have launched apps based on streamlined pages specifically for mobile use, and fast downloads, designed as an alternative to conventional Web browsing, Squire said.
As an illustration that their online and mobile strategy has paid some dividends, the department store group has posted above-average 20% online sales growth in each month of the year so far. Adds Squire: “Retailers that saw these trends early have made some good bets and investments.”
For the first time, the percentage of shoppers buying from their mobile phones is expected to rise above the double-digit threshold to 15% in November, compared to 4.5% in last year’s holiday season, and less than 1% in 2009, Squire said.
In October, 9.6% of online shoppers made purchases through their mobile devices, up from 3.4% a year earlier.
To take advantage of this new trend, retailers should at the very least have a mobile optimized website. They should also consider doing promotions utilizing QR codes and coupon specials. For most businesses and especially restaurants, text marketing to their loyal customers with mobile only specials can increase their revenues by up to 25%.
Article quoted from the Wall Street Journal as distributed by Smart Brief.
To read the full article quoted above go to: http://online.wsj.com/article/BT-CO-20111104-714744.html?mod=dist_smartbrief