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Conference "Retail Innovations 2018”: „Is mobile app solving retail challengers?“ Giedrius Voveris, „GoNpay“, CEO
The document discusses the importance of mobile apps in retail, highlighting that 62% of retail time is spent on mobile, with m-commerce outpacing traditional e-commerce. It emphasizes customer expectations for personalization and fast payments, as well as the growing trend of premium loyalty programs. However, challenges persist, such as the fact that 51% of users do not download any apps in a month, underscoring the need for convenience and engagement in mobile retail strategies.
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Conference "Retail Innovations 2018”: „Is mobile app solving retail challengers?“ Giedrius Voveris, „GoNpay“, CEO
- 1. you go wepay Is Mobile App Solving Retail Challenges?
- 2. you go we pay Doesretailer need mobile app?
- 3. you go we pay Themost media digital time are spend on mobile apps Source. comScore Inc. The 2017 U.S. Mobile App Report
- 4. you go we pay Thesmartphones dominates for 18-24 year olds Source. comScore Inc. The 2017 U.S. Mobile App Report
- 5. you go we pay Doesanyone shop on mobile?
- 6. you go we pay 62% 38%Mobile app Destop The share of retail time spend on mobile is dominant Source. comScore Inc. State of the U.S. Online Retail Economy in Q3 2017
- 7. you go we pay Mobilespend reaching 23 % in year 2017 4 9 11 12 13 17 21 23 0 5 10 15 20 25 2010 2011 2012 2013 2014 2015 2016 2017 Source. comScore Inc. State of the U.S. Online Retail Economy in Q3 2017
- 8. you go we pay m-Commercegrowth outpaced e- Commerce & brick-and-mortal Discretionary Retail E- Commerce M - Commerce +17 % +40 % + 5 % Source. comScore Inc. State of the U.S. Online Retail Economy in Q3 2017
- 9. you go we pay Whatcustomer expects from app? Merchant loyalty program Communication channelFast payment
- 10. you go we pay Omnichanneland Multichannel Programs are Replacing Traditional Omnichannel customers log 23% more repeat shopping trips to retailers’ stores and are more likely to recommend the brand to family and friends -Harvard Business Review
- 11. you go we pay ConsumersExpect Personalization 79% of customers surveyed indicated that they are very satisfied with loyalty programs with high personalization
- 12. you go we pay PremiumLoyalty Programs are Becoming More Appealing 62% of consumers said they’d consider joining a fee-based rewards program if their favorite retailer offered one.
- 13. you go we pay AIand Chatbots Are Improving Customer Engagement By 2020, customers are expected to manage 85% of their relationships with enterprises without interacting with a human - Gartner
- 14. you go we pay PartnershipsHave Increased Strategic partnerships help brands stay ahead of the competition
- 15. you go we payMobilepayments creates convenience and a seamless buying experience
- 16. you go we pay Valuefor merchant More engaged users More transactions New customers Customer behavior data Additional revenue stream
- 17. you go we pay Whata major challengers ahead?
- 18. you go we pay Amajority of user do not download any app in month 1+ apps 49% 0 apps 51% Source. comScore Inc. The 2017 U.S. Mobile App Report
- 19. you go we pay Almosthalf of users have 3 and few retail apps Source. comScore Inc. The 2017 U.S. Mobile App Report
- 20. you go we pay Thefuture has arrived, and the shift is going to be focused around convenience, simplicity and enjoy ability. Amazon Go's use of mobile technology to respond to the demands of consumers - Amazon
- 21.
Editor's Notes
- #11 Traditional loyalty programs are single channel and card-based. They reward for spend rather than reward for engagement. They typically do not reward for behaviors that lead to purchase, nor do they reward in real-time. Omnichannel loyalty connects customers to a brand across all touchpoints seamlessly and provides members with the opportunity to be rewarded for spend and engagement across all channels. Furthermore, omnichannel data capture helps brands drive personalized communications and better customer experiences.
- #13 This year has seen a wave of premium program launches. The reason why premium loyalty programs are gaining popularity is because members want the benefits programs like Amazon Prime provide and are willing to pay for it. In a consumer study from this year 62% of respondents said they’d consider joining a fee-based rewards program if their favorite retailer offered one. This number was even higher among Millennials with 75% of 18-24-year-olds and 77% of 25-34-year-olds saying they’d consider joining a fee-based rewards program. Nearly half (47%) said rewards in fee-based programs are better than rewards in free programs.