Transcript of Mobile Shopping in the Future of Retail - GWU Spring 2013
MOBILE SHOPPING in the FUTURE of RETAIL #ShopMobile Spring 2013 HUNTER THOMAS @whunterthomas HELENA HOUNSEL @helenalor
agenda #ShopMobile What is omnichannel? Three Key Areas: Showrooming Purchasing Point-of-sale Driving mobile engagement 2 popular mobile shopping apps
omnichannel retail Omnichannel puts the consumer front and center, creating a consistent, seamless experience in each channel. #ShopMobile 38% of retailers seek profits via omni 80% become loyal through omni 42%expect similar experience
#ShopMobile mobile commerce growth US Retail Mobile Commerce Sales, 2011 2017 billions and percent of retail e-commerce via eMarketer, Q1 2013 4
social commerce #ShopMobile trust word-of-mouth more than any other form of advertising 92% have purchased after sharing or liking on Facebook, Pinterest or Twitter 43% WANELO, the new social community for shopping. 5
quick quiz: phone use #ShopMobile 32% What percentage of people use their smartphone in the bathroom? 75% 51% 6 75% use their smartphone in the bathroom.
three key areas #ShopMobile purchasing point-of-saleshowrooming 7
showrooming #ShopMobile 43% apparelpurchases affected 50% admit to showrooming 47%use smartphone for product information Showrooming: the practice of examining merchandise in-store, but then shopping online to purchase at a lower price. Showrooming isnt just for smartphone users; anyone can view a product in-store and then order online at home. In 2012, showrooming cost brick-and-mortar retailers an estimated $217 billion in sales loss. 8
quick quiz: showrooming victims #ShopMobile In the US, who is the most showroomed retailer? Pet Smart Best Buy Toys R Us Bed Bath & Beyond Sears 9 Bed Bath & Beyond has the highest risk of showrooming; Best Buy is the 4th.
purchasing #ShopMobile of smartphone users use their device while shopping in-store 84% of users start with a browser search; making the mobile site an important focus area 82% Macys in-store mobile 10
point-of-sale #ShopMobile of smartphone shoppers use their device for purchase 19% transaction volume of payments made through mobile wallets $2 trillion 11 Mobile POS system used at Nordstrom
quick poll: mobile wallet #ShopMobile 32% How many of us have a mobile wallet or have paid using our smartphone? 50% 12
in-depth interviews iPhone female fashionista 1 iPhone female cool mom 2 iPhone female with it 3 MILLENNIAL GEN X BABY BOOMER Everyone agreed: simplicity is key. Faster to load, easier to use. #ShopMobile 13
mobile engagement #ShopMobile Mobile & Social Ads Visit Mobile App or Site In-Store Experience Omnichannel Customer Consistency is key as the brand and consumer connect in each channel. 14
recommendations #ShopMobile 15 provide Wi-Fi localize the login promote sales integrate POS customize touch-points train associates
quick quiz: mobile devices #ShopMobile There will be more mobile devices than people in the world by 2014? TRUE or FALSE 16 By 2014, there will be more mobile devices than people in the worldthats over 7 billion!
make it seamless Retail is about the destinationthe experience. Now, one brand can have many different destinations. But, the experience, should always be the same. Mobile is the fastest growing retail channel. #ShopMobile