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The mobile retail time bomb

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Mobile technology has infiltrated every aspect of the consumer journey by now, so the differences between generations and regions in cellphone use can have strong implications for marketers. A “mobile time bomb” lurks for those retailers who haven’t caught up yet, according to a new study.

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The mobile retail time bomb

  1. 1. Source: How mobile is transforming retail: Bricks, clicks, tweets and texts across the omnichannel shopping mall. Economist Intelligence Unit survey of 519 global consumers. Sponsored by SAP. The omnichannelshoppingmall: How mobileis transformingretail
  2. 2. Of consumers use their desktop computers daily to research products and services, the same percentage that use their smartphones, but 41% use desktops to buy products, 3 percentage points more than smartphone users 69% The desktop is still a force Source: How mobile is transforming retail: Bricks, clicks, tweets and texts across the omnichannel shopping mall. Economist Intelligence Unit survey of 519 global consumers. Sponsored by SAP.
  3. 3. But the mobile generation gap is growing Younger consumers are increasingly buying products and services on their phones. Source: How mobile is transforming retail: Bricks, clicks, tweets and texts across the omnichannel shopping mall. Economist Intelligence Unit survey of 519 global consumers. Sponsored by SAP.
  4. 4. M-shopping habits vary widely by region Asia is ahead of the U.S. and Europe, except in categories where online shopping is well-established already, such as books, music and video. Source: How mobile is transforming retail: Bricks, clicks, tweets and texts across the omnichannel shopping mall. Economist Intelligence Unit survey of 519 global consumers. Sponsored by SAP.
  5. 5. But mobile use keeps growing Consumers expect to do more sophisticated shopping tasks via mobile in the near future Source: How mobile is transforming retail: Bricks, clicks, tweets and texts across the omnichannel shopping mall. Economist Intelligence Unit survey of 519 global consumers. Sponsored by SAP.
  6. 6. Of consumers say using their mobiles has made shopping more fun; 47% say using the phone while shopping makes them more loyal to a certain store.51% The fun factor Source: How mobile is transforming retail: Bricks, clicks, tweets and texts across the omnichannel shopping mall. Economist Intelligence Unit survey of 519 global consumers. Sponsored by SAP.
  7. 7. “We believe that the future looks more like Williams-Sonoma, Sephora or Macy’s than it does Net-a-Porter or Amazon.” Scott Galloway, professor of marketing and digital branding, NYU Stern School of Business Will mobile be the end of clicks? Source: How mobile is transforming retail: Bricks, clicks, tweets and texts across the omnichannel shopping mall. Economist Intelligence Unit survey of 519 global consumers. Sponsored by SAP. Some experts even forecast mobile will spell the end of the pure-play e-tailer
  8. 8. Of Internet Retailer’s Top 500 mobile merchants had mobile-responsive websites that adapt to different devices. In the U.K., Barclays found 70% of retailers don’t have a responsive website or mobile app. 20% But many retailers are still falling short Source: How mobile is transforming retail: Bricks, clicks, tweets and texts across the omnichannel shopping mall. Economist Intelligence Unit survey of 519 global consumers. Sponsored by SAP.
  9. 9. “Showrooming” is inevitable Source: How mobile is transforming retail: Bricks, clicks, tweets and texts across the omnichannel shopping mall. Economist Intelligence Unit survey of 519 global consumers. Sponsored by SAP.
  10. 10. “The catchphrase I use is ‘the mobile phone is becoming the remote control of life.’ ” Richard McKenzie, Co-Leader, retail and consumer practice, Asia-Pacific, Oliver Wyman The future of mobile commerce is here Source: How mobile is transforming retail: Bricks, clicks, tweets and texts across the omnichannel shopping mall. Economist Intelligence Unit survey of 519 global consumers. Sponsored by SAP.
  11. 11. To download the full report, “How mobile is transforming retail: Bricks, clicks, tweets and texts across the omnichannel shopping mall” go to http://bit.ly/1P0CCJN Check out more insights, research and viewpoints from marketing leaders and The Economist Group’s experts in Marketing Unbound Want more? Check out economistgroup.com/marketingunbound Follow Marketing Unbound:

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