Wednesday, 2 July 2014

Report says most millennials are using mobile retail apps (mobilepaymentstoday.com)

FI Group has published its Retail Satisfaction Barometer, which reveals consumer 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 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, the survey suggests 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."
Of those surveyed, 47 percent of mobile application usage is dedicated to checking product prices at competing retail brands; 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."

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