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Retail Mobility Statistics by RapidValue Solutions

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Mobile technology is becoming very popular in the retail industry. This presentation gives a snap shot of where mobile apps can come in handy in Retailing and takes a look at the reasons behind this popularity. It focuses on the current mobile trends in retail and the ROI from retail apps. It also looks at the stats of the next big technologies in Retail like Augmented Reality (AR) and Internet of things and why retail companies are willing to go omnichannel.

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Retail Mobility Statistics by RapidValue Solutions

  1. 1. © RapidValue Solutions Retail Mobility Usage Statistics Date: 14th October 2014
  2. 2. © RapidValue Solutions 2 Retail Mobile Applications
  3. 3. © RapidValue Solutions 3 A Snapshot of Retail Mobile Applications A snapshot showing the areas of retail where mobile apps are used. (Source: TCS)
  4. 4. © RapidValue Solutions 4 Mobile Sites are the topmost priority for retailers with 90.9% stating they are looking to invest in this area. Retailer Investment Plans Source: Computerweekly
  5. 5. © RapidValue Solutions 5 Why Retailers are Investing in Mobile Apps 1.Coupon sites get 88% of their traffic from mobile devices. Source ComScore 2.When consumers visit online retail sites like Amazon, eBay and Etsy on mobile devices, 80% of the time it’s through an app. Source ComScore 3.Mobile commerce will generate $34.2 billion by the end of 2014, up from $21 billion in 2012. Source ComScore 4.Mobile payments will amount to $90 billion in the coming years. Source Forrester Research
  6. 6. © RapidValue Solutions 6 Current Status of Technologies in the Retail Business Mobile payments is a technology that is currently in focus with 68.8% retailers looking to invest in it in the near future. Source: Computerweekly
  7. 7. © RapidValue Solutions 7 Current and Future Functions of Customer Facing Mobile Apps Source: emarketer 83% 79% 74% 69% 67% 49% 43% 87% 82% 81% 65% 73% 62% 65% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Customer communications Customer Service/support Product communications / brochures Facilitate transactions (purchase order/ account lookup) Brand engagement Event support Annual reports/announcements Current Future A survey conducted by Forbes Insights and Adobe found that most companies were using customer-facing apps for the below reasons. The most common use of mobile apps was to communicate with customers, named by 83% of respondents.
  8. 8. © RapidValue Solutions 8 Mobile Trends in Retail
  9. 9. © RapidValue Solutions 9 Trend 1 : In-Store Location Awareness Source: RetailTouchpoints Thanks to Bluetooth Low Energy (BLE), a technology that lets Bluetooth 4.0 devices such as PayPal Beacon, RapidValue rBeacon, and iBeacon communicate with smartphones, retailers will be able to send tailored notifications to each shopper’s device, depending on where they are in the store.
  10. 10. © RapidValue Solutions 10 Trend 2 : Brand Experiences as Apps Source: RetailTouchpoints Apps have started becoming part of the user’s daily life. Successful retail apps create a daily experience that will reinforce a brand’s core values to current and potential customers.
  11. 11. © RapidValue Solutions 11 Trend 3 : Creating Loyalty with Rewards Source: RetailTouchpoints Popular mobile apps have features that allow customers to earn and redeem loyalty rewards through their phones or at physical locations. Phones are being launched with preloaded retail apps.
  12. 12. © RapidValue Solutions 12 Trend 4: Context Awareness Source: RetailTouchpoints A lot of context marketing is being done through mobile apps. Retailers can leverage customer locations and local information to deliver automated contextual messages to customer’s phones.
  13. 13. © RapidValue Solutions 13 Trend 5: In-Store innovations Source: RetailTouchpoints Retailers have implemented mobile devices directly into the in-store shopping experience. From personal check-outs to in-store personalized marketing mobile technology is set to revolutionize shopping experience.
  14. 14. © RapidValue Solutions 14 ROI from Retail Apps (Case Studies)
  15. 15. © RapidValue Solutions 15 Case Study 1: BMW BMW increased conversion by 30% for customized snow tires by sending images, video, sound files and text messages for customized snow tire offers. Source: themobileretailblog
  16. 16. © RapidValue Solutions 16 Case Study 2: Caritas Home care Boston-based home healthcare agency used mobile health devices to enhance communications and data collection with its 150 mobile clinicians. Caritas documented how the mobile devices were able to save 19,200 hours or 98 hours per clinicians per year. Although Caritas didn’t release salaries of clinicians, if we estimated $50/hour, which would be conservative, Caritas saved $960,000. If the devices were $100 each for 150 clinicians at $15,000, which would also be conservative, the ROI would be 64-to-1. Source: themobileretailblog
  17. 17. © RapidValue Solutions 17 Case Study 3: Dunkin Donuts Dunkin Donuts increased store traffic by 21% using SMS campaign offering mobile coupons. Source: themobileretailblog
  18. 18. © RapidValue Solutions 18 Case Study 4: Harley-Davidson Wanted to maintain visibility with current customers and add new customers and revenue through a holiday promotion. They sold HD related merchandise through a Route 66’s mobile club. Communications of the 12 Days of Christmas campaign were promoted through a mobile social media campaign. Sales increased 250% on helmets; 16% on leather jackets and there were significant increases in holiday dealer traffic which was also an objective. Source: themobileretailblog
  19. 19. © RapidValue Solutions 19 Case Study 5: McDonalds McDonald’s designed a ‘restaurant finder’ app to enable consumers to find a late-night McDonald’s (open post 11pm). The app was downloaded 1,300,000 times and delivered an ROI of 2:1.. Source: themobileretailblog
  20. 20. © RapidValue Solutions 20 Case Study 6: Petco At Petco Mobile coupon redemption outnumber online coupon redemption by 5 to 1. Source: themobileretailblog
  21. 21. © RapidValue Solutions 21 Case Study 7: Pizza Hut Pizza hut created a mobile optimized website. By the end of the first week after going live, the site accounted for 10% of all online orders increasing at a rate 60% each week.. Source: themobileretailblog
  22. 22. © RapidValue Solutions 22 The Next Big Technologies in Retail
  23. 23. © RapidValue Solutions 23 A look at Augmented Reality •30% mobile subscribers will use AR at least once in a week •864 million smartphones will have AR technology enabled in them by the end of 2014. •2.5 billion mobile AR apps are going to be downloaded by 2017 •$600 billion expected revenue generated from AR by 2016 Source: momentagroup
  24. 24. © RapidValue Solutions 24 Internet of Things •IoT world is growing at a breathtaking pace – from 2 billion objects in 2006 to 15 billion in 2016 to a projected 200 billion by 2020. (Source: Intel) •10% of all IOT investments are made by Retailers (Source: IDC retail insights) •IoT product and service suppliers will generate incremental revenue of more than $300 billion in 2020. (Source: Gartner) Source: momentagroup
  25. 25. © RapidValue Solutions 25 Omnichannel Retailing – Why it is taking off? •71% – Amount of consumers who cited the ability to view inventory information for in-store products as important or very important. •50% – Amount of consumers who expect to buy online and pick up in-store. •39% – Amount of consumers who are unlikely or very unlikely to visit a retailer’s store if the online store does not provide physical store inventory information. •$1.8 trillion – The amount of online and web-influenced retail sales that Forrester expects by 2017, up from $1.3 trillion in 2013. •73% – Amount of consumers who stated that they are likely or very likely to visit a local store if the retailer provides in-store product availability information online, compared with 36% of customers who would visit a store if no inventory information was available online. •25% – Amount of consumers who said that they use store pickup so they can collect their orders on the day they purchase them (thus avoiding the wait for shipping). •10% – Amount of consumers who simply find it more convenient to pick up from a store than have items shipped to their home. •56% – Amount of consumers who have used their mobile device to research products at home with 38% who have used their mobile device to check inventory availability while on their way to a store and 34% who have used their mobile device to research products while in a store. Source: business2community
  26. 26. © RapidValue Solutions 26 Omnichannel Retailing – Why it is taking off? (Contd.) •45% – Amount of consumers who expect sales associates to be knowledgeable about online-only products. •69% – Amount of consumers who expect that store associates be armed with a mobile device — in order to perform simple and immediate tasks such as looking up product information and checking inventory. •27% – Amount of consumers who would be very likely to leave and visit another retailer’s store if a product is out of stock with 21% who would buy online from a different retailer and 21% who would simply hold off buying the product. •45% – Amount of consumers who would take up an in-store associate’s offer to ship an out of stock product to the consumer’s home for free. •93% – Amount of surveyed retailers who cited that enabling ship-from-store had resulted in a positive or significantly positive uplift in online revenue. •77% – Amount of surveyed retailers who cited that enabling ship-from-store had reduced or significantly reduced their fulfillment costs. •88% – Amount of surveyed retailers who cited that enabling ship-from-store had improved or significantly improved their customer satisfaction metrics. Source: business2community
  27. 27. © RapidValue Solutions 27 Thank You
  28. 28. © RapidValue Solutions 28 About RapidValue RapidValue is a leading provider of end-to-end mobility solutions to enterprises worldwide. Armed with a team of 250+ experts in mobility consulting and application development, along with experience delivering over 400 mobility projects, we offer a range of mobility services across industry verticals. RapidValue delivers its services to the world’s top brands and Fortune 1000 companies, and has offices in the United States and India. www.rapidvaluesolutions.com www.rapidvaluesolutions.com/blog +1 877.690.4844 contactus@rapidvaluesolutions.com This document contains information that is confidential and proprietary to RapidValue Solutions Inc. No part of it may be used, circulated, quoted, or reproduced for distribution outside RapidValue. If you are not the intended recipient of this report, you are hereby notified that the use, circulation, quoting, or reproducing of this report is strictly prohibited and may be unlawful. Disclaimer:

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