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Robust impact to consumers' behavior from mobile in retail industry

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A change in customers' purchasing behaviours

A change in customers' purchasing behaviours

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  • 1. Robust impact to consumers’ behaviors from mobile technology in retail industry TMS – Quality partner for software solutions
  • 2. Since Martin Cooper made the first handheld mobile phone call in 1973 (Wired, 2008), mobile industry has made a dramatic increase for the last 40 years. Today, mobile devices become the primary vehicles for communication and play an increasing pivotal role in daily lives of consumers around the globe. (Nielsen, 2013) It can be seen from the research of Nielsen that mobile devices has reached critical mass, almost every consumer in both developed countries and high-growth economies now owned a mobile phone in the first half of 2012. Sources: Nielsen Global Smartphone Insights, first half of 2012; Nielsen Mobile Insights, 2012 More specifically, America witnesses an impressive statistics on the total amount of mobile device ownership. A recent report undertaken by the Pew Research Center’s Internet & American Life Project has revealed that a majority of Americanspossessesa mobile device. There are 56% of all American adults are now Smartphone adopters, increasing approximately 10 percent per year from 2011 to 2013. TMS – Quality partner for your innovative mobile solutions 2
  • 3. The dramatic growth in mobile usage around the word has made a strong effect on retails’ customer mindset and behaviors. Shoppers greatly rely on smartphones, tablets and laptops to online shopping through a touch point. This leads to the phenomenon of online shopping which can be done anywhere, anytime, anyplace. The proliferations of mobile has contributed to empowering consumers, who can browse products, look up reviews, make comparisons and download coupons in real-time via their mobiles. In order to stay ahead of intensive competitors, retailers should not only utilize these new innovations but also comprehend the engagement between the customers and these devices, thereafter, creating highly customer-centric shopping experiences. TMS – Quality partner for your innovative mobile solutions 3
  • 4. A recent report of Board of Governors of the Federal Reserve System has analyzed the interests in mobile services and the major activities of mobile shoppers. Mobile phones are utilized as means of comparing products and obtaining product at a retail stores. The popularity of smart phone has altered the way customer obtaining the product information.The increasing prevalence of smartphone with bar code scanning ability and Internet access has contributed to altering the customer shopping behaviors. This technology helps customer quickly browse and compare products in the same store while in a store or online. Approximately 34 percent of smart phone users have browsed products information from scanning a QR Code in a newspaper, magazine, or billboard advertisement. 44 percent have used the mobile applications to get product information or product reviews at a retail store. More importantly, mobile phone is utilized as a means of comparing products not only in the same store or but also among different stores. Multitude of mobile application of retailers has enabled 42% of consumers to use their phone to make comparison atdifferent retail stores. This has made a robust impact on consumer purchasing making decision. 64 percent of consumers who use their phone to comparison in retail stores have changed where they purchased the product as a result of the information they TMS – Quality partner for your innovative mobile solutions 4
  • 5. found.Meanwhile, 70 percent reports that they changed what they purchased as a result of reading product preview or recommendations from their smart phone while at a retail store. A large number of consumers are even willing to allow their phones to be used to provide retails with their personal information for the purposing of receiving targeted discounts, promotions or offers. As stated in the reported, approximately 27% of all mobile phone users are interested in receiving and managing discount offers and coupon on their phones, or receiving location-based offers. In addition, mobile prevalence is also changing the way consumers make payment. Approximately 24 percent of mobile consumers has used mobile to make a mobile payment in the past 12 months. 6 percent of smart phone users have used their phones to purchase products in the last 12 months, from 1 percent in December 2011. This statistics have a tendency to grow up because around 22 percent of smart phone users express their interests in making a point of sale payment. To sum up, the global boom in smartphone ownership has shifted the retail landscape. With a view to standing out from the rest, retailers must strive to utilize the latest technology to match the increasing needs of savvy customers. TMS – Quality partner for your innovative mobile solutions 5
  • 6. References http://www.wired.com/science/discoveries/news/2008/04/dayintech_0403 http://www.nielseninsights.it/wp-content/uploads/2013/03/03.-global_mobile_report_02_25.pdf http://www.nielseninsights.it/wp-content/uploads/2013/03/03.-global_mobile_report_02_25.pdf http://pewinternet.org/Commentary/2012/February/Pew-Internet-Mobile.aspx http://www.wpp.com/~/media/reading-room/consumer-insights/tgi_mobile_shoppers_may13.pdf http://www.federalreserve.gov/econresdata/mobile-devices/files/consumers-and-mobile-financialservices-report-201303.pdf TMS – Quality partner for your innovative mobile solutions 6

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