Company News • 02.07.2014
Mobile poised to become consumers' new personal shopper
CFI Group's Retail Satisfaction Barometer reveals consumers' expectations during the shopping process, specifically noting the popularity of mobile technology. The report uncovered that the use of mobile applications for shopping purposes doubled in the past year, with 41 percent of consumers actively using mobile apps while shopping.
The growing use of mobile is no surprise as consumers are no longer making decisions off of a hunch or intuition. They are seeking hard evidence and are turning to digital tools to hunt for the information they are searching for. Mobile provides an additional channel for shoppers looking for the most convenient avenue to purchase relative to their lifestyle. Furthermore, the study found that checkout is the most impactful driver of the customer experience.
The study found that 67 percent of 18-34 year-olds use mobile apps during their shopping experience. While Millennials are typically the focus of retailers' mobile efforts, they may want to look again; most consumers of all ages indicated that they have two to four shopping apps installed, proving that mobile isn't a generational-only trend.
"It is crucial for retailers to keep up with advanced mobile capabilities to maintain high customer satisfaction," said Terry Redding, vice president of sales and marketing at CFI Group. "With consumers' demands to use mobile devices as a shopping tool, retailers must know how to connect with them digitally."
It is no secret that showrooming is among one of the many trends of how consumers shop today. Of those surveyed, 47 percent of mobile application usage is dedicated to checking product prices at competing retail brands. This is one of many reasons why retailers need to engage digitally with their customers. One way retailers currently do so is by sending offers through their mobile devices – and it works – 45 percent of consumers redeem coupons and offers received via mobile.
Looking forward, the future of checkout is more than just using a mobile app or device for a quick and easy checkout. Of the survey respondents, 51 percent indicated they would be very likely to use mobile apps to speed-up the checkout process when they become available. Almost half of all participants reported that they would favor a store with advanced mobile capabilities – which would encourage them to shop with the retailer more, buy more per visit and even pay slightly more.
"Mobile applications allow an opportunity for retailers to engage with customers whenever and wherever they are," said Redding. "Customers want to receive tailored communications, not only to see that retailers are showing an interest in them, but for quick accessibility and convenience."
Overall, shopping through a mobile device will continue to be a way of shopping in the future. Retailers must continue to evolve with consumers' expectations and desired experiences of interacting with any of the store's channels. Those who keep in mind that consumers enjoy personalized experiences and being catered to based on interests will succeed.
To obtain a copy of the Retail Satisfaction Barometer and to learn more about what drives customer satisfaction, repeat visits and spending, visit www.cfigroup.com.
SOURCE CFI Group